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.
| Want to be the first to know about interesting Gold, Base Metals and Silver investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter. | Subscribe |
Disclosure:
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.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Granite Creek Copper. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Granite Creek Copper, a company mentioned in this article.
