Carmacks: Positive results of Phase 1 Drill. Sedgman & Mining Plus paving way for updated PEA
Updated: Aug 23, 2021
Mining Plus congratulates Granite Creek Copper on the results of their Phase 1 drill program at Carmacks. Mining Plus, in collaboration with Sedgman, look forward to advancing technical assessments to form the basis of a potential PEA update.
Mr. Timothy Johnson reports:
Granite Creek Copper Ltd. (TSX.V: GCX | OTCQB: GCXXF) announced positive results of their recently completed Phase 1 of the 2021 Drill Program at the Carmacks Copper-Gold-Silver Project in Yukon, Canada.
In Zone 1, the drilling was successful in achieving its objectives of delineating the depth extent of mineralization, expanding the mineralization below the current resource model and confirming the grade and anticipated thickness in the inferred portion of the sulphide resource in this zone.
While the Preliminary Economic Assessment (“PEA”) published in 2017(1,2) only looked at the oxide material in Zones 1,4 & 7, work being conducted by Sedgman and Mining Plus (see news release dated May 18, 2021) is looking at various scenarios to process the sulfide portion of Zone 1 and other sulfide zones of the deposit building a basis for an updated PEA that would include both oxide and sulfide ore.
Granite Creek President & CEO, Tim Johnson, commented, "The Company is extremely pleased with the progress of 2021 exploration program at Carmacks. A Phase 3 drilling program is under development and projected to commence in mid-August of this year. The addition of this third stage would expand the overall 2021 campaign to include a total of 10,000 meters of diamond drilling as well as 3000m of reverse circulation drilling. We expect this program will significantly expand the total contained metal on the project, resulting in a substantially and form the basis for a new Preliminary Economic Assessment."
More details can be found at Granite Creek Copper News Release.
Granite Creek Copper News Release - "Granite Creek Copper Reports First Results from Phase 1 of 2021 Drill Program, Including 43.50 Meters of 1.40 % Copper Equivalent, at the Carmacks Copper-Gold-Silver Project in Yukon, Canada": https://gcxcopper.com/news/2021/granite-creek-copper-reports-first-results-from-phase-1-of-2021-drill-program-including-43.50-meters-of-1.40-copper-equivalent/