Granite Creek Copper Ltd. (GCX:TSX.V; GCXXF:OTC) announced in a news release that two diamond drill rigs have been mobilized to its Carmacks project in central Yukon and the drill program will commence immediately.
"We continue to aggressively advance the Carmacks project, with its attributes of high-grade, near-surface copper, gold and silver mineralization in an underexplored district-scale land position and with the support of rising copper prices as we begin a new bull market commodity cycle," President and CEO Tim Johnson said in the release.
The campaign at Carmacks, formerly the Stu and Carmacks projects, calls for 10,000 meters (10,000m) of drilling.
"Granite Creek's 2021 drill program follows up on the company's highly successful inaugural drill program, completed in November 2020, which encountered 127 meters of 0.85% Copper Equivalent (CuEq) at Carmacks Zone 13, and 4.6 meters of 7.51% CuEq at Carmacks North Zone A," the company stated.
The focus of the 2021 drill program is on "upgrading inferred resources to indicated, as well as step out drilling aimed at delineating new resources where the deposit remains open to expansion." The targets it plans to primarily focus on are Carmacks zone 1, Carmacks zones 2000S, 12, and 13 and Carmacks North zone A.
Following this year's program, Granite Creek noted that it will update the resource estimate for Carmacks using all drill results compiled during 2020 and 2021. The resource currently stands at 446 million pounds of copper, 237,000 ounces of gold and 2.4 million ounces of silver in the Measured and Indicated categories.
"The project is part of the Minto Copper Belt that hosts a high-grade operational mine with roads, power and port infrastructure already in place within a top Canadian mining jurisdiction. We see a number of exciting opportunities to optimize the resource on the project, and excellent potential to expand the known high-grade copper mineralization zones, which remain open along strike and at depth, as well as to make significant new discoveries at a number of major untested targets," Johnson said.
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