Granite Creek Copper – Strategy Behind The Acquisition Of The Star Copper – Nickel – Platinum Project
Tim Johnson, President and CEO of Granite Creek Copper Ltd (TSX.V:GCX – OTCQB:GCXXF), joins us to review the acquisition of the Star Cu-Ni-Platinum Group Metal project, located in the Omineca mineral belt of northern British Columbia. Granite Creek will secure a 100% interest in the Star project, with no underlying royalty or further obligation, for a total consideration of $10,000 CDN and the issuance of 500,000 common shares of the Company to the estate of Ursula Mowat. The exploration team will be first looking to do some geophysics and geochemical studies to vector in the best potential drill targets.
We wrap up with the primary focus of the Company being on the work towards the upcoming Preliminary Economic Assessment (PEA) by year end at the Carmacks Project in the Yukon. This PEA will be used demonstrate the robust economics of the deposit, now with a 3 times larger resource, and the potential to incorporate the sulfide resources into the plan moving forwards. The recent update in March of this year to the NI 43-101 Mineral Resource Estimate demonstrated that 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.