Highlights:
- The Company has received results from drillholes 1274-24-301-305 and 339-341 highlighted by the following intervals:
- #339 – 2.82% CuEq over 44.5 metres beginning at 146 metres depth
- #340 – 3.35 % CuEq over 20.75 metres beginning at 126.3 metres depth
- #341 – 3.24 % CuEq over 9.9 metres beginning at 156 metres depth
- Drillhole 1274-24-339 was designed to test the lateral extension of the high-grade lens identified in holes 1274-24-293 and 294, released on
March 20, 2024 . These holes intercepted 2.6% CuEq over 37.0 metres (#293), including 6.3% CuEq over 10.6 metres, and 2.5% CuEq over 61.3 metres (#294), including 11.4% CuEq over 10.6 metres. - Drillhole 1274-24-339 intercepted mineralization approximately 20 metres east of 1274-24-294, intercepting 2.82% CuEq over 44.5 metres hosted in strong stringers observed from 83.0 to 189.5 metres, corresponding to a vertical depth starting about 20 metres below the bedrock contact. The potential to define more of this high-grade lens remains open.
- The Company remains well funded, with
$18.0 million to complete the remaining 16,500 metres planned for the 2024 work program and an additional 20,000 metres in 2025, which will be incorporated into a Preliminary Economic Assessment to complete the B26 option.
B26 Main Deposit
The B26 Main Deposit has a continuous strike length of 1.0 km, and mineralization has historically been drilled to 0.85km in vertical depth with limited drill coverage.
Drillhole 1274-24-339, which intercepted 2.82% CuEq over 44.5 metres, was advanced to test the immediate extension 20 metres east of the high-grade lens identified in #293 and #294. Copper mineralization concentrated in separate bands varying in thickness from 0.4 to nearly 4 metres, with chalcopyrite volume evaluated between 10% and 60%, was intercepted, forming a 106.5-metre-long interval of mineralization observed from 83 to 189.5 metres.
Drillhole 1274-24-340, which intercepted 3.35% CuEq over 20.75 metres, was planned to test the western strike extent of the high-grade lens identified in #293 and #294 at a spacing of 20 metres. However, unexpected drilling deviation resulted in the hole ending up in close range with 1274-24-294.
Drillhole 1274-24-341, which intercepted 3.25% CuEq over 9.90 metres, was drilled with a northeast azimuth and intersected the high-grade lens 25 metres east of the 1274-24-294 section.
Drill holes 1274-24-302, 1274-24-303, and 1274-24-304 were drilled 100 metres apart to test the up-dip extension of the copper-gold stringer system close to its known footwall contact. Short low-grade intersections, including 0.59 g/t over 3.2 metres in #304, represent the northern margin of the copper zone, which is about 100 metres northward from the southern contact.
Table 1: Significant Intercepts
Hole ID | From (m) | To (m) | Length (m) | CuEq (%) | Cu (%) | Au (g/t) | Ag (g/t) | Zn (%) |
1274-24-302 | 78.7 | 82.0 | 3.3 | 0.28 | 0.13 | 0.02 | 1.367 | 0.375 |
And | 125.85 | 128.6 | 2.75 | 0.41 | 0.40 | 0.00 | 1.1 | 0.024 |
1274-24-303 | 87.0 | 95.0 | 8.0 | 0.36 | 0.08 | 0.001 | 0.831 | 0.79 |
And | 127.7 | 130.9 | 3.2 | 0.59 | 0.28 | 0.01 | 1.2 | 0.84 |
1274-24-304 | 18.5 | 21.5 | 3.0 | 0.39 | 0.04 | 0.01 | 0.95 | 0.937 |
1274-24-339 | 83.7 | 87.0 | 3.3 | 5.82 | 5.40 | 0.62 | 16.8 | 0.168 |
And | 93.0 | 97.0 | 4.0 | 1.71 | 1.22 | 0.73 | 3.688 | 0.158 |
And | 146 | 190.5 | 44.5 | 2.82 | 2.32 | 0.84 | 4.533 | 0.05 |
1274-24-340 | 70.70 | 75.95 | 5.25 | 2.20 | 1.95 | 0.38 | 7.68 | 0.047 |
And | 77.80 | 80.40 | 2.60 | 2.59 | 1.98 | 0.99 | 6.88 | 0.05 |
And | 92.35 | 93.45 | 1.10 | 8.11 | 8.04 | 0.14 | 21.40 | 0.04 |
And | 126.30 | 147.05 | 20.75 | 3.35 | 2.79 | 0.97 | 5.10 | 0.02 |
And | 175.20 | 176.30 | 1.10 | 3.78 | 1.39 | 4.03 | 5.72 | 0.01 |
1274-24-341 | 156.0 | 165.9 | 9.9 | 3.24 | 2.97 | 0.44 | 5.40 | 0.09 |
Note 1: The intercepts above are not necessarily representative of the true width of mineralization. The local interpretation indicates core length corresponding to 75 to 80% of the mineralized lens' true width. Note 2: Intervals were calculated using a cut-off grade of 0.1% Cu Eq which represents the visual limit of the mineralized system. Note 3: Copper equivalent values calculated using metal prices of a) Recovery results are from 5 samples totaling 18 kg of zinc-rich mineralization and 5 samples totaling 10 kg of copper-rich mineralization. b) Recovery values for copper and gold were obtained from a simple rougher-cleaner flowsheet, and silver & zinc from a locked cycle flowsheet. c) Recovery for the four metals (Cu-Au-Zn-Ag) in the two types of concentrates (Cu-Au and Zn-Ag) is not weighted to represent a recovery model for an entire zone or an area. |
Table 2: Drill Hole Information | |||||||
Drill hole | Target | UTM | UTM | Elevation | Azimuth | Dip | Length (m) Drilled |
1274-24-302 | B26 Main | 652903 | 5513486 | 276 | 360 | -58.2 | 177 |
1274-24-303 | B26 Main | 653000 | 5513547 | 276 | 360 | -83 | 300 |
1274-24-304 | B26 Main | 653000 | 5513547 | 276 | 360 | -87.8 | 300 |
1274-24-305 | B26 Main | 653000 | 5513547 | 276 | 360 | -77 | 291 |
1274-24-339 | B26 Main | 652945 | 5513382 | 276 | 359.4 | -60.7 | 350 |
1274-24-340 | B26 Main | 652945 | 5513382 | 276 | 346.9 | -56.3 | 325 |
1274-24-341 | B26 Main | 652945 | 5513382 | 276 | 12.3 | -58.5 | 325 |
The core logging program is run by Explo-Logik in
Samples preparation duplicates, varied standards, and blanks are inserted into the sample stream.
In the 2018 resource estimate, SGS recommended the QAQC protocol to explain the replicability for the four metals (Au-Cu-Ag-Zn). The Company has set up for this program a series of assaying protocols with the objective to control QAQC issues from the beginning of the project. As a result, samples are crushed finer with 95% of particles passing 1.7 mm and a large split of 1 kg is pulverized down to 106 µm (150 mesh). Other measures put in place include the automatic re-assaying of gold results above 3 g/t by metallic screening and the use of sodium peroxide fusion in mineralized intervals interval corresponding to a target grade above 0.5% Cu.
Qualified Person
Information contained in this press release was reviewed and approved by
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Note 1: A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. The issuer is not treating the historical estimate as current mineral resources or mineral reserves. Source: Rapport Technique NI 43-101 Estimation des Ressources Projet B26,
Note 2: Copper Equivalent values were calculated using metal prices of
Note 3 - Sources:
Fayard, Q, Mercier-Langevin, P., Wodicka, N., Daigneault, R., & Perreault, S. (2020). The
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,
Forward-looking statement:
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
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