Highlights:
- Maiden 10,000-metre drill program ongoing, with 7,074 metres completed across 22 holes to date, including 5 holes totalling 1,803 metres at the
Satellite West Zone , targeting a new potential extension to the B26 Main Deposit. - Rushed assays from Drillholes 1274-24-293 and 294 released on
February 29, 2024 included 4.0% CuEq over 22.7 metres, including 6.3% CuEq over 10.6 metres, and 4.1% CuEq over 34 metres, including 11.4% CuEq over 10.6 metres, respectively. Further assays from these holes are pending, including additional over-limit tests. - Drillhole 1274-24-301, drilled on the central section of the main deposit, intersected an 11-metre interval observed to contain 10 to 15% chalcopyrite from 48.5 metres within a larger interval containing sub-parallel 1 to 10 cm chalcopyrite from 36 metres to 85.5 metres.
- Drillhole 1274-24-335, drilled to test the continuity of a potential satellite zone 500 metres to the west of the main deposit, showed indications of a strong VMS system, with up to 7% sphalerite observed over 15 metres from 43 metres and 5% chalcopyrite over 20 metres from 116.5 metres.
Further to its previous releases dated
This follows the release of some of the highest-grade intercepts in the Project's history, including 11.4% CuEq over 10.6 metres beginning at 135 metres depth in Drillhole 1274-24-294 and 6.3% CuEq over 10.6 metres beginning at 120 metres depth in Drillhole 1274-24-293.
To date, twenty-two holes have been completed, totalling 7,074 metres. Drilling in this first phase is broken down between 3 targets distributed along an overall strike length of 1.6 kilometres testing the first 300 vertical metres:
1. B26 Main Deposit
- 17 holes have been completed at this target, totalling 5,271 metres.
- The key objective of drilling within the B26 Main Deposit is to evaluate the open pit potential and potential up-dip near-surface extensions of the main deposit to the north. These new holes outlined come from two section 500 metres apart, concentrated in the first 200 vertical metres.
- A fanning of 5 holes was drilled at the center of the deposit on section 653000E to evaluate the overall thickness of the chalcopyrite stringer zone close to surface. Hole 1274-24-301 stands out with 45 metres of strong chalcopyrite stringers along the hole. Individual chalcopyrite stringer veins ranging from 1 to 10 centimetres can be grouped in multiple intervals ranging generally from 10 to 15% chalcopyrite over 10 metres.
- 500 metres to the west, close to the western limit of the known B26 zone two holes (1274-24-331 and 1274-24-332) both intersected chalcopyrite stringers over core length of 10 to 15 metres and were associated with wide disseminated pyrite-chalcopyrite-sphalerite halos.
2. Satellite West:
- 5 holes have been completed at this target, totalling 1,803 metres.
- The drill fence targeted the geometric continuity of a potential satellite zone 500 metres to the west of the main deposit.
- Significant disseminated and stringer mineralization were intersected in three holes at different elevations, over a covering approximately about 200 metres.
- Observations thus far indicate the stacking of a strong VMS mineralized system hosted in a cherty tuff and chalcopyrite stringer zone with disseminated halos in an altered porphyritic rhyolite footwall. Multiple intervals of massive sulfide bands were observed in drillhole 1274-24-335 with up to 7% sphalerite over 15 metres from 43.2 to 58.5 metres and around 5% chalcopyrite over 20 metres from 116.5 to 136.1 metres.
3. Eastern Extension:
- Drilling at the Eastern Extension target is ongoing. While challenging overburden conditions have slightly reduced the drilling progress, measures have been taken to adjust the drilling technique in order to reach the bedrock.
- Targeting the expansion of the main deposit to the east where 2.45% Cu Eq over 26.7 metres*, including 4.74% CuEq over 11.7 metres (1274-14-167) was intercepted in historical drilling.
- Drillhole 1274-24-301 was drilled on the central section of the deposit (653 000E) as part of a drill fan of 5 holes (1274-24-300, 1274-24-303. 1274-24-304, 1274-24-305 and 1274-24-306) which planned to test the copper zone footwall position above a vertical depth of 150 metres. 1274-24-301 was collared to transect a maximum thickness of chalcopyrite stringers where previous down dip holes had intercepted distinct mineralization. As a result, a thick stacking of sub-parallel 1 to 10 centimetre chalcopyrite veins was observed from 36 metres to 85.5 metres along hole. The most notable interval highlighted a 10 to 15% chalcopyrite mineralized zone over a core length of 11 metres, from 48.5 to 59.5 metres, shown in Figures 1 and 2 below.
- Approximately 100 metres west of 1274-24-301, disseminated chalcopyrite and chalcopyrite stringers were observed along drillhole 1274-24-302 from 38.2 metres to 137.5 metres. This wide interval of disseminated mineralization is hosted in a strongly foliated and partially faulted sericite-chlorite host rock.
- In addition, approximately 500 metres west of the central section (from holes 1274-24-301 and 1274–24–302), 1274-24-331 and 1274-24-332 were planned to infill a 100 metres gap on section and possibly extend the mineralization at the limit of the mineralized zone. The two holes were planned at 25–metre spacing above historical hole 1274-14-148 which returned 2.4% CuEq over 6.5m. Preliminary observations highlighted a chalcopyrite stringer zone associated with quartz veining from 298 to 316.5 metres along hole. 1274-24-331 hosts two intervals with similar mineralization, first from 117 to 133 metres and then from 257.5 to 269 metres.
- Drillholes 1274-24-333 to 1274-24-336 were designed to test the continuity of a potential satellite zone 500 metres to the west of the main deposit. 1274-24-336 crosscut historical hole 1274-16-227, which graded 1.24% CuEq over a length of 22.5 metres* from 181 to 203.5 metres, while 1274-24-333, 1274-24-334 and 1274-24-335 tested the up-dip potential and were drilled using 50 metres step outs to the north, covering a 200-metre-wide corridor.
- Observations on 1274-24-335 highlighted indications of a strong VMS system with local sphalerite bands and stringers with accessory chalcopyrite hosted in chert tuff . This sequence was intersected over 120 metres, starting from bedrock down to 150 metres. Multiple intervals of massive sulfide bands, sulfides bearing lamination in chert and stringers can be observed along this interval. Up to 7% sphalerite over 15 metres can be evaluated from 43.2 to 58.5 metres and approximately 5% chalcopyrite was evaluated over 20 metres from 116.5 to 136.1 metres. Down hole, porphyritic rhyolite hosts minor but consistent disseminated chalcopyrite to the end of the hole at 387 metres.
Table 1: 2024 Completed Drill Holes | |||||||
Drill hole | Target | UTM | UTM North | Elevation | Azimuth | Dip | Length (m) |
1274-24-293 | B26 Main | 652950 | 5513385 | 276 | 360 | -52 | 291 |
1274-24-294 | B26 Main | 652950 | 5513385 | 276 | 360 | -56 | 310 |
1274-24-295 | B26 Main | 653150 | 5513380 | 276 | 360 | -57 | 312 |
1274-24-296 | B26 Main | 653150 | 5513380 | 276 | 360 | -45 | 222 |
1274-24-297 | B26 Main | 653200 | 5513320 | 276 | 360 | -55 | 342 |
1274-24-298 | B26 Main | 652750 | 5513465 | 276 | 360 | -45 | 248 |
1274-24-299 | B26 Main | 652800 | 5513440 | 276 | 360 | -50 | 261 |
1274-24-300 | B26 Main | 652850 | 5513310 | 276 | 360 | -57 | 375 |
1274-24-301 | B26 Main | 653000 | 5513450 | 276 | 360 | -68 | 321 |
1274-24-302 | B26 Main | 652900 | 5513480 | 276 | 360 | -58 | 177 |
1274-24-303 | B26 Main | 653000 | 5513550 | 276 | 180 | -83 | 300 |
1274-24-304 | B26 Main | 653000 | 5513550 | 276 | 360 | -88 | 300 |
1274-24-305 | B26 Main | 653000 | 5513550 | 276 | 360 | -77 | 291 |
1274-24-306 | B26 Main | 653000 | 5513550 | 276 | 360 | -60 | 222 |
1274-24-330 | B26 Main | 652600 | 5513264 | 276 | 360 | -50 | 489 |
1274-24-331 | B26 Main | 652500 | 5513320 | 276 | 360 | -50 | 489 |
1274-24-332 | B26 Main | 652503 | 5513364 | 276 | 360 | -47 | 321 |
1274-24-333 | Satellite West | 652100 | 5513515 | 276 | 360 | -50 | 399 |
1274-24-334 | Satellite West | 652100 | 5513460 | 276 | 360 | -57 | 270 |
1274-24-335 | Satellite West | 652100 | 5513410 | 276 | 360 | -57 | 384 |
1274-24-336 | Satellite West | 652100 | 5513350 | 276 | 360 | -57 | 420 |
1274-24-337 | Satellite West | 652050 | 5513465 | 276 | 360 | -50 | 330 |
Information contained in this press release was reviewed and approved by
ON BEHALF OF THE BOARD
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Source 1: Fayard, Q, Mercier-Langevin, P., Wodicka, N., Daigneault, R., & Perreault, S. (2020). The |
Source 2: Rapport Technique NI 43-101 Estimation des Ressources Projet B26, |
Source 3: Fayard, Q. (2020). CONTRÔLES VOLCANIQUES, HYDROTHERMAUX ET STRUCTURAUX SUR LA NATURE ET LA DISTRIBUTION DES MÉTAUX USUELS ET PRÉCIEUX DANS LES ZONES MINÉRALISÉES DU PROJET B26, COMPLEXE VOLCANIQUE DE BROUILLAN, ABITIBI, |
* Not necessarily representative of the of the true width of mineralization |
Copper Equivalent values calculated using metal prices of |
This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the
SOURCE
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