In a news release, Vancouver-based Granite Creek Copper Ltd. (GCX:TSX.V; GCXXF:OTC) provided an update on the status of the company's autumn drill program. The company noted that it recently combined the Carmacks and Stu projects. The firm advised that as it previously announced on November 27, 2020, the Stu project has been renamed Carmacks North upon closing of the Copper North acquisition.
Granite Creek stated that it is announcing "a new corporate presentation referencing the combined projects and the company's vision for growth of resources." The company advised that the NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project in the Yukon that was issued on February 9, 2017, estimated the resource at 23.76 million tonnes grading 0.85% Cu, 0.31 g/t Au, 3.14 g/t Ag (containing 446 Mlbs Cu, 237 Koz Au and 2.4 Moz Ag).
The firm stated that it is now in the process of developing plans for resource expansion and assessing targets for identifying potential new discoveries. Over the coming weeks it will update and refine the information posted on its website to take into account the potential of the Carmacks and Carmacks North projects located in the southern portion of the Minto Copper Belt.
The company advised that during its fall drill program it completed a total of 1,067 meters of drilling in five holes within the Carmacks and Carmacks North projects. The firm stated that the program's primary objectives were to help delineate the resource at the Carmacks North Zone A (f/k/a Stu Zone A) and to test for potential sulphide mineralization expansion at Carmacks in Zone 13.
Granite Creek stated that it believes this work was successful and the results showed that significant copper mineralization was encountered in all five holes. The firm noted that that the results from the assays have not yet been received and are still pending.
The firm advised that in Zone A, diamond drill holes STU20-001 and STU20-002 targeted higher-grade mineralization and that "both holes intersected several sections of oxide and sulphide mineralization with geologists observing chalcopyrite, bornite, malachite, and azurite in the core." The company added that drill hole STU20-003 intersected sulphide mineralization at several different depths.
The firm reported that two vertical holes were drilled at the Carmacks deposit on Zone 13 targeting an area where previous drill holes had intersected significant widths of sulphide mineralization. The company advised that the assay results have not yet been received back from the lab, but that bornite, chalcopyrite along with rare molybdenite were observed in the core samples.
Granite Creek announced that on Thursday, December 3 at 11:00 a.m. EST Granite Creek Copper's President and CEO Tim Johnson will host a webinar to discuss recent developments at the company and the firm's plans going forward.
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