Highlights:
- The Company has received results from drillholes 1274-24-314, 315, 320 and 323, highlighted by the following intervals:
- #320 – 1.78% CuEq over 57.2 metres beginning at 235.80 metres depth, including 3.1% CuEq over 13.05 metres.
- #323 – 1.89% CuEq over 28.45 metres beginning at 133.4 metres depth, including 6.5% CuEq over 5.25 metres.
- The results from #320 were part of a fanning set of holes designed to expand the eastern boundaries of the Deposit. #320 has successfully expanded the zone 75 metres from historical drilling.
- The Company remains well funded with
$17.5 million to complete the remaining 16,500 metres planned for the 2024 work program as well as an additional 20,000 metres in 2025, which will be incorporated into a Preliminary Economic Assessment to complete the B26 option. Mr Deluce commented: "High-grade assets like the B26 project inQuebec , located in a world-class jurisdiction, represent an exceptional opportunity. We are very excited about today's news of successful extensional drilling, showcasing the growth potential of this exciting copper/gold project."
The B26 Main Deposit has a continuous strike length of 1.0 kilometers and mineralization has been drilled to 850 metres in vertical depth with limited drill coverage below 500 metres. This batch of results focuses on four holes (see detailed below), all collared on section 653350, which is the easternmost drilled section of the Deposit.
Hole 1274-24-314 was drilled approximately 10 metres above historical hole 1274-13-91 with the objective to exceed the length by more than 100 metres and explore the deposit footwall area. Tabulated results are from the upper part of the hole. A weak anomaly detected from 183.5 to 194.5 metres could indicate a potential mineralized structure about 100 metres north of main sulfides lenses.
In the main sector, hole 1274-24-323 was drilled to the northwest to cross the mineralized structure in between sections. Drilling was successful to intercept a thick stacking of chalcopyrite lenses from 133 to 161.85 metres, returning 1.89% CuEq over 28.45 metres, beginning at 133.4 metres, including 6.48% CuEq over 5.25 metres. The main zone is followed by disseminated mineralization down to 281 metres well into the B26 footwall. Observations highlighted so far consist of a strong intensity of silicification and sericitization in the lower part of the hole, expanding northward as an exploration target.
The best intercept in drill hole 1274-24-320 was 1.78% CuEq over 57 metres, beginning at 235.8 metres, including higher grade intervals between 3 and 4.5% CuEq over 2 to 13 metres length. This hole was drilled following a north-to-north-east direction. The mineralization was intersected approximately 75 metres to the northeast of the known mineralization and at a vertical depth of about 200 metres.
Table 1: Significant Intercepts
Hole ID | From (m) | To (m) | Length (m) | CuEq (%) | Cu (%) | Au (g/t) | Ag (g/t) | Zn (%) |
1274-24-314 | 67.0 | 77.0 | 10.0 | 1.33 | 0.96 | 0.48 | 8.70 | 0.14 |
Incl | 67.0 | 72.0 | 5.0 | 1.27 | 1.93 | 0.9 | 11.92 | 0.23 |
And | 86.0 | 99.0 | 13.0 | 1.24 | 1.16 | 0.11 | 5.05 | 0.01 |
1274-24-315 | 135.0 | 138.15 | 3.15 | 0.96 | 0.24 | 1.19 | 4.1 | 0.01 |
1274-24-320 | 108.85 | 111.65 | 2.80 | 1.04 | 0.01 | 0.01 | 21.8 | 2.55 |
And | 235.8 | 293.0 | 57.2 | 1.78 | 1.54 | 0.31 | 5.55 | 0.14 |
Incl | 240.6 | 243.1 | 2.5 | 4.59 | 4.19 | 0.58 | 14.80 | 0.13 |
Incl | 250.0 | 263.05 | 13.05 | 3.09 | 2.64 | 0.59 | 10.66 | 0.26 |
Incl | 266.9 | 269.25 | 2.35 | 3.55 | 3.14 | 0.58 | 10.18 | 0.18 |
Incl | 270.6 | 277.0 | 6.4 | 2.98 | 2.67 | 0.54 | 6.54 | 0.01 |
1274-24-323 | 133.40 | 161.85 | 28.45 | 1.89 | 1.44 | 0.32 | 10.04 | 1.4 |
133.40 | 138.65 | 5.25 | 6.48 | 4.30 | 1.37 | 38.25 | 3.47 | |
Note 1: The intercepts above are not necessarily representative of the true width of mineralization. The local interpretation indicates core length corresponding generally to 70 to 80% of the mineralized lens' true width. True width of 1274-20 mineralization is unknown. Note 2: Copper equivalent values calculated using metal prices of Note 3: Intervals were calculated using a cut off grade of 0.1% Cu Eq, which represents the visual limit of the mineralized system. * Further assays are outstanding from this hole |
Table 2: Drill Hole Information | |||||||
Drill hole | Target | UTM East | UTM | Elevation | Azimuth | Dip | Length (m) Drilled |
1274-24-314 | B26 Main | 653300 | 5513338 | 276 | 360 | -52 | 300 |
1274-24-315 | B26 Main | 653350 | 5513390 | 276 | 360 | -53 | 201 |
1274-24-320 | Eastern Extension | 653350 | 5513275 | 276 | 20 | -62 | 474 |
1274-24-323 | B26 Main | 653350 | 5513314 | 276 | 345 | -55 | 367.5 |
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.
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 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,
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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