Giant Mining Outlines 18 Hole Drill Program For 2024

FULL DISCLOSURE: This is sponsored content for Giant Mining.

Giant Mining Corp (CSE: BFG) this morning provided an overview of recent exploration conducted at its Majuba Hill Porphyry Copper Deposit in Nevada, while at the same time outlining its exploration plans for the remainder of the year.

The Majuba Hill Porphyry Copper Deposit, the flagship project of Giant Mining, is found in Pershing County, 251 kilometres to the northeast of Reno. The property contains historic underground mines which produced high-grade copper from outcropping porphyry mineralization, with production including 2.8 million pounds of copper, 184,000 ounces of silver, 5,800 ounces of gold and 21,000 pounds of tin.

The 3,916 hectare property has been extensively explored by Giant Mining since 2020, beginning with the discovery of multiple zones of high-grade copper, silver, and gold mineralization.

Exploration over the last several years can be broken down as follows:

  • 2020: Soil geochemistry, strategic core drilling, and geophysical surveys that identified new zones with potential for high grade copper and silver, while confirming the extension of a copper porphyry at depth.
  • 2021: Further drill testing, including two deep core holes, identified a granodiorite and diorite intrusive with multiple overlapping porphyry alteration events noted in the core. Anomalous copper intersected over 21.3 meters at great than 100 ppm concentrations at a depth of 519.3 metres.
  • 2022: The most ambitious drill program conducted by Giant Mining occurred, resulting in the longest intercepts of copper mineralization to date at the project, including 346.3 metres of 0.25% copper equivalent in hole MHB-27, and 392 metres of 0.30% copper equivalent in hole MHB-28.
  • 2023: Further geological mapping and drilling took place, leading to the completion of a NI43-101 Technical Report. The report notably contains a 3D block model that estimates 50 to 100 million tonnes of copper mineralization ranging with a grade between 0.15% and 0.30% copper, with a potential higher grade zone 10 to 20 million tonnes in size containing 0.40% to 0.80% copper. The model suggests up to 660 million pounds of copper potentially exist at the property.

“The strategic exploration initiatives we’ve implemented over the past few years at Majuba Hill are bearing fruit, as demonstrated by our impressive drilling results and the expansion of mineralized zones. This success underpins our confidence in Majuba Hill’s potential to become a cornerstone of America’s copper supply, essential for the burgeoning renewable energy sector,” commented Giant Mining CEO David Greenway.

Exploration over the last several years has result in the identification of a key corridor of focus. Within that corridor is a substantial oxide zone, which outcrops at surface and extends as deep as 550 metres. This zone is said to overlay segments where native copper suggests significant mineral enrichment exists.

Moving forward, a total of eighteen holes are currently planned for the 2024 exploration season, with sixteen of those holes to be reverse circulation, and two to be shallow core holes. The drill program has been designed to include both infill holes, as well as drilling intended to expand mineral potential at the project.

Two deep core holes, which are to extend to depths of 1,066 metres, are also planned to test the vertical extent of mineralization and enhance resource evaluation efforts. At the same time, metallurgical studies are planned for this year to improve the understanding of the core’s characteristics and processing efficiencies of the deposit in an effort to optimize recovery methods.

Giant Mining last traded at $1.00 on the CSE.

FULL DISCLOSURE: Giant Mining Corp is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is long the equity of Giant Mining. The author has been compensated to cover Giant Mining on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Leave a Reply