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Copper North Mining Corp. (TSXV:COL) announced the expansion of oxide and sulphide copper-gold-silver mineral resources at the Carmacks Project, Yukon Territory as a result of the updated mineral resource estimate.
Copper North Mining Corp. (TSXV:COL) announced the expansion of oxide and sulphide copper-gold-silver mineral resources at the Carmacks Project, Yukon Territory as a result of the updated mineral resource estimate.
As quoted in the press release:
Highlights:
The Updated Mineral Resource consists of the Maiden Resource on zones 12, 13 and 2000S combined with the previously defined mineral resource for the Carmacks Project as set out in the 2014 PEA.
Maiden Mineral Resource Estimate (zones 12, 13, and 2000S)
Oxide and transition mineral resources:
- Measured and Indicated of 3.7 Mt grading 0.50% Cu, 0.35% acid-soluble Cu, 0.132 g/t Au and 2.011 g/t Ag
- Inferred of 0.8 Mt grading 0.42% Cu, 0.28% acid-soluble Cu, 0.119 g/t Au and 1.910 g/t Ag
Sulphide mineral resources:
- Measured and Indicated of 3.7 Mt grading 0.60% Cu, 0.128 g/t Au and 2.288 g/t Ag
- Inferred of 4.4 Mt grading 0.55% Cu, 0.123 g/t Au and 2.081 g/t Ag
New Updated Mineral Resource Estimate
Oxide and transition mineral resources:
- Measured and Indicated of 15.7 Mt grading 0.94% Cu, 0.74% acid-soluble Cu, 0.379 g/t Au and 3.971 g/t Ag; an increase of 31%.
- Inferred Resources of 0.9 Mt grading 0.45% Cu, 0.30% acid-soluble Cu, 0.119 g/t Au and 1.900 g/t Ag; a tenfold increase.
Sulphide mineral resources:
- Measured and Indicated of 8.1 Mt grading 0.68% Cu, 0.178 g/t Au and 2.332 g/t Ag; an increase of 86%.
- Inferred resource of 8.4 Mt grading 0.63% Cu, 0.150 g/t Au and 1.994 g/t Ag; an increase of 108%.
Copper North Mining President and CEO, Dr. Harlan Meade, stated:
The 2015 exploration program has defined a large increase in both oxide and sulphide mineral resources in the southern extension of the Carmacks Deposit that could potentially double the life of the proposed mine. In addition, the 2015 exploration indicates that there is potential for further expansion of the Updated Mineral Resource as the deposits are explored along strike and to depth.
The expansion of the oxide mineral resource is an important step in increasing the attractiveness for project financing for the Carmacks Project. Furthermore, the expansion of the near-surface sulphide mineral resources warrants evaluation for leaching of sulphide mineralization, taking advantage of new advancements in leaching of copper sulphides, such that the copper may be extracted using the same SX-EW technology proposed for oxide mineralization.
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