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.