Nevada Copper Corp. (NCU:TSX; NEVDF:OTC) intersected near surface copper mineralization and delineated multiple new targets, both at its Pumpkin Hollow project in Nevada, it announced in a news release.
These achievements resulted from the company's surface and near-surface sample and drill programs. As for copper grades encountered, they went up to 0.9% near surface on reconnaissance drilling within 2 kilometers of the current underground mine. At surface, grab samples returned copper grades as high as 6.2%.
Drill results yielding high copper grades with porphyritic characteristics suggest the presence of an undiscovered porphyry system there, the company stated. It could be the source of the existing underground and open-pit deposits that are of the skarn and iron oxide copper-gold type.
"Although our exploration program is at an early stage, we are very encouraged to have hit mineralization with porphyritic signatures in multiple holes," CEO Matt Gili said in the release.
Nevada Copper intends to advance its high-potential targets further. "Our exploration approach is designed to leverage our substantial organic growth profile and our strong position in the re-emerging Yerington copper district," Gili added. "It is pleasing to continue to see that our successes to date are in line with this strategy."[NLINSERT]
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