Granite Creek Copper – Updated Mineral Resource Estimate at the Carmacks Copper-Gold-Silver Project
Tim Johnson, President and CEO of Granite Creek Copper Ltd (TSX.V:GCX – OTCQB:GCXXF), joins us for a review of the NI 43-101 Mineral Resource Estimate at the Carmacks copper-gold-silver project in Yukon, Canada. 93% of the resource is now in the measured and indicated category, with only 7% remaining in the inferred category. There was a 43% increase in measured and indicated contained copper, a 24% increase in contained gold, and a 41% increase in contained silver, and molybdenum has been included for the first time in the resource estimate.
We discussed that one of the key takeaways from drilling in 2020 and 2021 was that the sulfide results are coming back promising at depth and in other areas closer to surface, changing the understanding of the deposit, and potentially changing the economics and processing plan for the Project. At present the sulfides and oxides contained in the deposit are roughly equal. The company is currently working on an updated Preliminary Economic Assessment to come out mid-year, to analyze which milling and processing methods may be ideal for cost and metals recovery, and will be a significant milestone for the Company.
Tim also discussed the preliminary exploration plans for the 2022 drill program, to test some new regional targets and step-out holes, focused more on true discovery this year, in tandem with continuing to grow the resources. There will be a market update coming that will outline this exploration program in more detail, and to kick off in Q2.
If you have any follow up questions for Tim regarding Granite Creek Copper, then please email us at Fleck@kereport.com or Shad@kereport.com.
Click here to for a summary of the recent news out of Granite Creek Copper.
Good thoughts Silverdollar. Yes, even though Dr Copper is down today, the health of the rest of the commodities sector seems to still be quite robust, with Oil/Nat Gas/Heating oil/Gasoline all up nicely in the energy space, and most of the base metals nicely in the green on the day.
I’ve noticed the same thing with more buying showing up in the junior resource stocks today in the Gold and Silver stocks, but also in some of the junior base metals, uranium, and energy stocks. Maybe all the focus in 2022 on the commodity sector finally has more generalist money flows coming down the risk profile into more of the nano-cap stocks.
Mish had an interesting table on CPI components and thoughts on what effect the 1/4% rate increase will be. Precisely nothing……… Fact is there is still too much money chasing too few goods. It’s not complicated but the Fed always finds themselves behind because they operate on months old data. My opinion! https://mishtalk.com/economics/what-can-the-fed-do-about-the-price-of-food-medicine-gasoline-or-rent
Santacruz, got to love that company, today they announced the closing of Glencore’s Bolivian Silver/Zinc assets. The market likes Santacruz today!
https://money.tmx.com/en/quote/SCZ/news/8294949109970595/Santacruz_Silver_Announces_the_Closing_of_Its_Acquisition_of_Glencores_Producing_Bolivian_SilverZinc_Assets
Yes indeed DT. SCZ up 14.6% thus far, getting rerated higher as it should. Really I believe they have much more room to rerate even higher than that considering they just picked up 5 mines, 3 mills, 2 exploration projects, 2 power plants, and a partridge in a pear tree…. 🙂
Added…
Hey Ex, a partridge in the hand is worth two in the tree. Santacruz has now got the partridge sitting in the palm of their hand. LOL! DT
Twelve Days of Christmas was big hit for Perry Como. Remember him well singing about the partridge and pear tree on his TV show in 1960’s.
+2 DT!
Exciting day as they all are except once in a while…
Take Emo out of my account and value at 1:10 EST
– $22 for over 20 other stocks. Nothing controlled about those #s… I hear sirens…got to go.
How nice. Kootenay been getting dumped for past few days and then they announce drill results. 😒
I noticed the drop yesterday and added. Saw the drill results today and had to hold until the others settle. The drill results were not very exciting and the insider trading not appreciated. It is obvious the Regulators have given up. I think Wall Street has overwhelmed them with crime. The way to deal with too much crime is to just start making a list of perpetrators, set priorities and start working the list. Trickle down works in prosecution. So does self regulation after their buddies wear orange. Both concepts pumped by Wall Street to negate regulatory control.
I think that even if Putin decides to go nuclear and wipe out mankind, Wall Street would still be pumping Amazon and Chipotle and hitting the metals in hopes of a bigger xmas bonus.
You’re right, those drill results were not exciting. KTN and others with no income are going to fall further, especially with increasing inflation chewing away at their bank balances.
Yeah, those are the drill results from Cervantes on the JV they are in with Aztec Minerals, and while they were over reasonably wide intercepts, the gold grades were fairly low. However, for a heap leach operation, they are likely doable, but they were not barn-burner drill holes.
Ironically, Doc and I had just discussed revisiting positions in Kootenay in detail on the Dana Lyons blog on Friday, as KTN has really underperformed many other silver explorers/developers last year and this year, and it has been beaten down badly lately, making for a compelling entry point soon.
Those hits were shallow, long and oxidized which probably makes them better than you think but I doubt very much that today’s high volume had anything to do with those results, at least from the sell side. Instead, I’d bet that the pressure lately is due primarily to the recent financing.
The JV with Aztec Minerals accounts for 0% of my reason for owning KTN. As mentioned earlier today, I trimmed some HL and SILJ today to buy more and will buy more aggressively at .14 to .135.
Funny you mention KTN. I was just thinking Today of re-allocating some coin over there cause It looked pretty oversold.
It’s a bargain if we are destined to be even half right about silver.
Okay .135 – .14, thank you.
Matthew – What would be the equivalent on the U.S. Ticker about 0.12 to 0.125?
It’s more like .108 to .112 but the two markets don’t always match if a move is quick. In other words, you might not get such a deal or you might get a better deal.
Thanks.
I sense more interest into miners this morning than we’ve seen for some time. Could the shift from general equities be gaining momentum? I think there’s a good chance we may have a good week. FWIW