HIGHLIGHTS
- Southeast deposit remains open: High-grade areas of porphyry-related copper and gold mineralization at Southeast (e.g., 144.9m of 1.21% Cu and 0.55 g/t Au; WJ 08-84) remain open, both laterally and at depth.
- Recent drilling results: Drilling completed at Southeast by Consolidated Woodjam Copper in 2021 intersected strong zones of copper and gold mineralization (e.g., 142.4m averaging 0.56% Cu and 0.23 g/t Au; SE21-089).
- Similar nearby magnetic features are untested: Inverted geophysical models generated from the newly acquired aeromagnetic survey data suggest that untested targets remain – particularly immediately southeast of the deposit.
"The Southeast deposit contains the majority of the copper-gold porphyry-related historical resources at the Woodjam project," commented
The Southeast deposit is a large porphyry-related copper and gold deposit within the prospective Takomkane batholith; a large, composite body of early Jurassic calc-alkaline intrusive rocks. At Southeast, copper and gold mineralization is best developed above and on the northwest flank of a broad magnetic high anomaly which strengthens with depth (Figures 2 and 3). The deposit includes zones of considerable high-grade copper and gold mineralization. For example, recent drilling in 2021 intersected 142.4m @ 0.71% CuEq (0.56% Cu and 0.23 g/t Au) in the last hole of the program and earlier drilling in 2008 intersected 144.9m @ 1.57 % CuEq (1.21% Cu and 0.55 g/t Au). Further drilling and modelling are required to better constrain the controls and orientations of the higher grade zones.
Highlights from previous drilling at Southeast are shown in Table 1, below. A historical mineral resource estimate is summarized in Table 2.
Table 1 – Southeast Deposit Drilling Highlights
Drill hole | From (m) | To (m) | Int. (m) | Au (g/t) | Cu (%) | AuEq (g/t) | CuEq (%) |
SE21-089 | 115.6 | 258.0 | 142.4 | 0.23 | 0.56 | 1.08 | 0.71 |
SE11-062 | 100.6 | 211.1 | 110.5 | 0.17 | 0.45 | 0.86 | 0.56 |
and | 256.5 | 462.4 | 205.9 | 0.18 | 0.57 | 1.05 | 0.69 |
WJ08-084 | 125.9 | 485.0 | 359.1 | 0.28 | 0.70 | 1.34 | 0.88 |
inc | 166.7 | 311.6 | 144.9 | 0.55 | 1.21 | 2.41 | 1.57 |
Note: Cueq and Aueq are calculated with prices of
Table 2 –Historical Mineral Resource Estimate for the Southeast Deposit, Effective Date
Deposit | Category | Tonnage | Grade | Metal Content | ||
M tonnes | % Cu | g/t Au | M lbs Cu | 000 oz Au | ||
Southeast1,2 | Inferred | 221.7 | 0.31 | 0.05 | 1,507 | 383.7 |
Notes: | |
1. | Source: "NI 43-101 Technical Report for Woodjam Property, |
2. | Historical Estimates are considered historical in nature and as such are based on prior data and reports prepared by previous property owners. The reader is cautioned not to treat them, or any part of them, as current mineral resources or reserves. A qualified person has not done sufficient work to classify the Historical Estimates as current resources and |
High-grade porphyry-related copper and gold zones at Southeast remain open laterally and at depth. Further, limited drilling has been completed peripheral to the deposit and several target areas are evident in the recently completed, high-definition aeromagnetic survey results. The cross-section in Figure 3 shows a good example of a look-a-like magnetic feature immediately southeast of the Southeast deposit. Here, a broad magnetic high anomaly that strengthens with depth is very similar to that present at the Southeast deposit. The top and flanks of this feature are interpreted to be highly prospective for porphyry-related copper and gold mineralization but have yet to be drilled.
Inverted models of the data continue to be refined by
Figure 1 – Woodjam Location Map
Figure 2 – Southeast Deposit Area Plan Map
Figure 3 – Southeast Deposit Cross Section
The 65,252-hectare
To date, six zones of porphyry-related mineralization (Megabuck, Deerhorn, Takom, Three Firs, Southeast, Megaton) have been identified at the
The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by
Neither the
The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
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