ProjectsCopper Mountain MineExploration
The Copper Mountain mineral claims cover an 18,000 acre land package with multiple prospective targets. In 2008, the company succeeded in finishing one of the largest drill programs in British Columbia (106,000 meters) and increased the resource estimate by 45% to 5 billion pounds of copper. The goal of the program was achieved when the results of drilling confirmed continuity of mineralization between the pits which allowed for the development concept of a new merged pit, known as the ‘Super Pit’. This new Super Pit is still open to the north, southeast and northwest, as well at depth.
In addition to the current resources, significant upside still exists on the Copper Mountain project. Exploration has been a successful endeavor on site for nearly 100 years and the company is confident that it will continue to be so.
The aim of future exploration is to define additional resources by ongoing compilation, assessment and generation of drill targets from both historical and more recent data. This strategy will continue to utilize a multi-year approach with a particular focus on geological and structural mapping combined with geochemistry and geophysics.
Recent exploration at Copper Mountain was designed specifically to assist in optimizing the mine plan while also increasing the reserves in the Life of Mine pit. Looking ahead, the exploration mandate is to continue to optimize the mine plan where needed while also testing highly prospective near-mine and peripheral geological targets to build on the known resources on the Copper Mountain project.
Copper Mountain Announces Additional Positive Drill Results at New Ingerbelle
Copper Mountain completed additional drill holes as part of Phase 2 of its 3-Phase drilling program at the New Ingerbelle property, located nearby the present operations of the Copper Mountain Mine (see news release August 14, 2018). “The drill results from our exploration program at New Ingerbelle continue to reaffirm our belief in its ability to grow in quality and size. New Ingerbelle resource development fits perfectly into our project pipeline of organic growth opportunities. We believe New Ingerbelle will grow in significance as a development project for the Company and fit nicely with our Eva Project and other organic development opportunities in Australia.“ Gil Clausen, CEO.
New Ingerbelle continues to demonstrate considerable upside as Phase 2 drilling progresses. Copper Mountain initiated a 3-Phase drilling program at the New Ingerbelle Mine last year.
Phase 2 looks to expand the New Ingerbelle resource area and to convert Inferred Mineral Resources to the Measured and Indicated status. A total of 30 holes are planned, of which 15 have been reported to date.
Complete drill results from this program followed by an updated Mineral Resource estimate is planned in Q3 2018. The Company’s objective under the 3-phase program at New Ingerbelle is to outline sufficient resources to form the basis of a Feasibility Study on the development potential of this historic producing mine.
- Hole 18IG-10 returning 102 metres of 0.60% CuEq (0.45% Cu, 0.52 g/t Ag, 0.22 g/t Au)
- Hole 18IG-08 returning 99 metres of 0.56% CuEq (0.38% Cu, 0.70 g/t Ag, 0.26 g/t Au)
- Hole 18IG-09 returning 177 metres of 0.47% CuEq (0.33% Cu, 0.45 g/t Ag, 0.20 g/t Au)
which includes 84 metres of 0.59% CuEq (0.41% Cu, 0.57 g/t Ag, 0.26 Au g/t)
- Hole 18IG-13 returning 15 metres of 0.83% CuEq (0.54% Cu, 0.96 g/t Ag, 0.43 g/t Au)
- Hole 18IG-14 returning 93 metres of 0.49% CuEq (0.33% Cu, 0.70g/t Ag, 0.23 g/t Au), and
- Hole 18IG-15 returning 24 metres of 0.77% CuEq (0.52% Cu, 1.07 g/t Ag, 0.36 g/t Au)
Copper Mountain Commences 2018 Drilling Program at New Ingerbelle
- Another Phase of Drilling at New Ingerbelle
- Building on our successful 2017 Phase 1 results which has validated historical data and confirmed that mineralization is open both laterally and at depth
- Results expected in Q3
- Another phase planned, expected to get 150M tonnes of M&I (~10 year mine life)
“The Company’s objective under a three phase program at New Ingerbelle is to outline sufficient resources to form the basis of a Feasibility Study on the development potential of this historic producing mine.
The Company’s target is to add a minimum of 150M tonnes of Measured and Indicated resources in order to commence that study.”
2017 Drilling Program at the New Ingerbelle Deposit at the Copper Mountain Mine
Results from the fourteen completed drill holes, totalling 4,750m are summarized in the table below. The drill program was successful as follows:
- Validated and confirmed historical data and therefore resources that are currently classified as Inferred can now be upgraded to categories based on mineralization continuity and data density;
- Drilling intersected mineralization peripheral to the block model indicating potential for the expansion of resources both laterally, and at depth;
- Drill hole assays confirmed the high gold tenor of the Ingerbelle mineralization estimated from historical production data to average 0.66g/t Au for every 1% of copper grade.
Drill hole locations were designed so as to intersect the historically defined mineralization in an evenly distributed pattern to the extent that topography, and water or backfilled areas would allow (see attached map and section). Historical drill data in the Ingerbelle deposit consisted of 582 drill-holes totalling 80,500m, approximately half of which are below the previously mined area. The 35 significant drill intersections from the current program, as tabulated below, have an average Cu Eq grade of 0.48% ( 0.34% Cu, 0.70g/t Ag and 0.22g/tAu).
The Ingerbelle resource, estimated from the historical data (inferred) that is within a whittle pit shell, generated using a US$2.75 copper price and current mine costs, contains 104Mt grading 0.42% Cu Eq. (0.30% Cu and 0.20g/t Au) based on a 0.2% copper cut-off grade. A revised resource estimate, using both historical and new drill data, will be completed in the near future. Additional drill programs and engineering studies will be designed to upgrade resources to reserve status and targeted to define sufficient reserves that could contribute an additional 10 years of production to Copper Mountain’s life-of-mine plan.
Notable recent intercepts1 include:
- Hole 17IG-07: 88.4 m grading 0.40% copper, 0.30 g/t gold, and 0.77 g/t silver starting at a downhole depth of ~228m.
- Hole 17IG-11: 57.9 m grading 0.47% copper, 0.21 g/t gold, and 1.01 g/t silver starting at a downhole depth of ~39m.
- Hole 17IG-15: 54.8 m grading 0.49% copper, 0.29 g/t gold, and 0.52 g/t silver starting at a downhole depth of ~60m.
1Please see news release (February 1, 2018) for all drill hole results.
Additional drill programs and engineering studies will be designed to upgrade resources to reserve status and targeted to define sufficient reserves that could contribute an additional 10 years of production to Copper Mountain’s life-of-mine plan.
A 5,000 meter drill program was completed in the third quarter. The drill program was designed to convert inferred resources into measured and indicated status on the western end of Pit 2.
The Program was successful in upgrading inferred resources to measured and indicated. This increase in resources provides the opportunity to extend the Pit 2 area further to the west.
Geology & Mineralization
Copper Mountain is host to a large, structurally complex alkalic porphyry copper–gold–silver system that is part of a northerly trending Mesozoic tectonostratigraphic terrane termed Quesnellia. The terrane is composed of a volcanic arc with overlying sedimentary sequences, all of which were built on top of a deformed, oceanic sedimentary–volcanic complex. The principle rock formation of Quesnellia is the Late Triassic Nicola Group, a predominately subaqueous island–arc assemblage composed of volcanic and lesser sedimentary rocks. The Nicola Group rocks have a stratigraphic thickness of approximately 7.5 km and form a 25 km wide band that extends from the Canada-U.S. border north to beyond Kamloops Lake. The Copper Mountain alkalic porphyry copper–gold camp occurs in the ‘eastern volcanic belt’ of the Nicola Group.