Copper Giant Resources (TSXV: CGNT), formerly known as Libero Copper, is looking at potential expansion to its current resource estimate following ongoing drilling at its flagship Mocoa porphyry copper project in Colombia.
The potential for expansion of the resource follows copper mineralization being intersected within step out drilling into ground previously modeled as being waste.
Highlights from the results include:
- MD-046: 1,007 metres of 0.38% copper equivalent (0.28% copper and 0.02% molybdenum) from 0 metres depth
- Including 829 metres of 0.44% copper equivalent (0.33% copper and 0.03% molybdenum) from 137.47 metres depth
- And including 489 metres of 0.57% copper equivalent (0.42% copper and 0.03% molybdenum) from 304.48 metres depth
- And including 72 metres of 0.94% copper equivalent (0.74% copper and 0.05% molybdenum) from 304.48 metres depth
“With MD–046 we pushed a significant interval, into an area that our last model wrote off as waste. Four holes in a row, fanned out in all directions show continuous copper mineralization starting at surface in kilometer long intercepts,” commented Ian Harris, CEO of Copper Giant.
Hole MD-046 was designed as a step out to the east of current mineralization, where it intended to test the eastern extension of the deposit. Mineralization was encountered below the base of the current pit-constrained resource, with that mineralization said to be consistent from surface to depth. When combined with three other recent drill holes, Copper Giant is said to have encountered a 1,000 metre by 600 metre block that sees continuous mineralization extend to 1,000 metres depth from surface.
The latest drill results come from an ongoing 14,000 metre drill program being conducted at Mocoa, with a second rig now mobilized to target new zones of mineralization under step out drilling.
Copper Giant Resources last traded at $0.25 on the TSX Venture.
Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
