Drilling continues for Canadian Copper (CSE: CCI) under a phase two drill program being conducted at their Chester Copper Project within the Bathurst Mining Camp in New Brunswick. The results of thirteen drill holes were released this morning by the firm.
Highlights from the results include:
- C21-23: 0.39% copper over 111 metres, including 6.16% copper over 2.0 metres
- C21-26: 0.41% copper over 25.25 metres, including 0.73% copper, 4.0% zinc, 0.11 g/t gold and 18.84 g/t silver over 13.0 metres
- C21-28: 1.16% copper over 9.85 metres, including 3.82% copper over 2.0 metres
The results are a part of a drill program that has the objectives of validating the historical model established for three zones on the property, outlining additional resources in gaps between zones, and exploring for the presence of gold and silver near surface.
The Chester Copper Project currently contains three zones within a volcanic massive sulphide model. Of these zones, the Central and East zones are said to be massive sulphide based, while the third zone, the West zone, is currently believed to be based on a copper stringer model. Historically, the property has produced 30,000 tonnes of bulk samples that averaged in excess of 2.0% copper, while a historical resource from 2014 indicates the property has 42.4 million pounds of contained copper at 1.38% on a measured and indicated basis.
A revised mineral resource estimate is expected to be released for the property next month.
Canadian Copper last traded at $0.09 on the CSE.
FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive, is currently long Canadian Copper. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
