Granite Creek Copper – 3 Target Areas For Exploration Following IP Survey And Upcoming PEA
Tim Johnson, President and CEO of Granite Creek Copper Ltd (TSX.V:GCX – OTCQB:GCXXF), joins us to outline 3 key targets of interest for the upcoming Phase 2 Drill program, after utilizing an IP survey and reviewed the ongoing work in preparation for the Preliminary Economic Assessment to be released by year end. We start off by recapping 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.
Tim also unpacked the preliminary exploration plans for the 2022 drill program, to test some of the 20 new regional satellite targets and step-out holes, focused more on true discovery this year, in tandem with continuing to grow the resources. We discussed that one of the key takeaways from the last 2 years drilling and understanding of the deposit was that the sulfide results are coming back very promising at depth and in other areas closer to surface, which will change the economics and development plan for the Project. However, there are some gaps in drilling that they also want to test for continuity and to better fill in the understanding of the deposit.
We wrap up with the ultimate plan for the company in using the upcoming PEA to demonstrate the robust economics of the deposit and attract the attention of larger mining companies that may want to partner with them at the Carmacks Project.