Granite Creek Copper Ltd. (GCX:TSX.V; GCXXF:OTC) announced in a news release the results of its 2020 maiden diamond core drill program comprising five holes over 1,067 meters (1,067m) at the recently combined Carmacks and Carmacks North project in the Yukon.
Of the five 2020 holes, Granite Creek drilled two in the Carmacks deposit and three in Carmacks North. All holes intersected mineralization. The company noted that the inaugural drill program had the "dual objectives of advancing the Carmacks North (Formerly "Stu") Zone A target towards definition of a maiden mineral resource and expanding existing drill-defined sulphide mineralization at Zone 13 on the Carmacks deposit."
At Carmacks, Zone 13, hole CRM20-001 returned 127m of continuous copper mineralization, 0.85% copper equivalent (Cu eq), including 28.65m of 1.74% Cu eq and 19.2m of 1.19% Cu eq. The hole also showed 19.2m of 0.104% molybdenum, which "suggests potential for molybdenum to increase contained metal value."
These results lead Granite Copper to believe that Zone 13, with a 750m strike length, "has the potential to host substantial sulphide resources that can be added to the existing resource." The zone remains open horizontally and at depth and is "one of the prime targets for the 2021 exploration program."
At Carmacks North, Zone A, the company reported that "high-grade intercepts of 7.5% copper equivalent over 4.63 meters in hole STU20-002 and 1.9% copper equivalent over 10.28 meters in hole STU20-003 - both drilled at an offset to high-grade historical holes 80-09 and 80-14 - confirmed modeling work done by the Company."
"We are very pleased with the success of our inaugural drill program on the recently combined Carmacks and Carmacks North project. The opportunity presented by the expansion potential of an already significant resource at Carmacks combined with the discovery potential at Carmacks North has positioned our shareholders with excellent exposure to the burgeoning copper bull market," President and CEO Tim Johnson said in the release.
CEO Tim Johnson will discuss these findings and the company's short-term plans at 11 a.m. EST on Monday, Feb. 15 in a live webinar.
In other news, Granite Creek Copper will participate March 8 to 11 in the 2021 Virtual Core Shack display during the 2021 Prospectors and Developers Association of Canada convention.
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1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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