Market Movers: Copper Road Jumps 57% After Hitting 50 Metres Of 1.00% Copper Equivalent

FULL DISCLOSURE: This is sponsored content for Copper Road Resources.

Copper Road Resources (TSXV: CRD) is a major market mover this morning, trading over 5.35 million shares within the first hour of trading following the release of drill results from its summer drill program.

Drilling took place at the firms Copper Road Project, found in the Batchewana Bay region of Ontario. A total of 1,250 metres of drilling was conducted across two targets at the JR Zone, with the goal of confirming lengthy historical intersections of both copper and molybdenum mineralization within what is known as the Jogran Porphyry, as well as to highlight high-grade copper at depth at the Richards Breccia.

Highlights from the results include:

  • Jogran Porphry
    • JR-23-01: 342 metres of 0.23% copper equivalent from 8 metres depth
    • JR-23-02: 197 metres of 0.35% copper equivalent from 4 metres depth, including 21 metres of 1.04% copper equivalent
  • Richards Breccia
    • R23-01: 38.63 metres of 1.17% copper equivalent from 76 metres depth
    • R23-04: 50.17 metres of 1.00% copper equivalent from 79 metres depth
    • R23-05: 13.00 metres of 0.35% copper equivalent from 72 metres depth

“The results from our initial drill program have established the presence of lengthy near-surface intersections of porphyry-hosted Copper/Molybdenum mineralization with shorter intersections of higher-grade Copper/Gold breccia-hosted mineralization. The Jogran Porphyry and Richards Breccia targets are approximately 1 km apart and form part of a wider array of alkalic porphyry and breccia targets in the JR Zone area, similar in areal scale to the established alkalic porphyry districts or ‘clusters’ in British Columbia and in Australia,” commented Copper Road CEO John Timmons.

WATCH: Copper Road: High-Grade Near-Surface Copper Deposits In Batchewana Bay

Drilling at Jogran is said to have confirmed continuity of the copper and molybdenum mineralization over long intervals, well beyond what was previously known at depth as well as laterally. Drilling at Richards meanwhile extended the breccia by 50 to 60 metres vertically below known mineralization, with mineralization now known to extend to a depth of 130 metres from surface, while remaining open at depth and to the northeast.

The two targets are found approximately 1 km apart from each other, and are said to form port of what is described as a wider array of alkalic porphyry and breccia targets in the JR Zone area. Further planned exploration is to consist of a large 3 x 4 kilometres deep penetrating UP survey over the main JR area to further advance targets, which is to be followed up with additional drill testing.

“The Richards and Jogran targets are two of nineteen targets in the greater JR Zone area based on the ongoing compilation of historical and current exploration data. The Company believes the JR Zone has the potential to deliver multiple larger porphyry and breccia-hosted discoveries,” continued Timmons.

Copper Road Resources last traded at $0.15 on the TSX Venture.


FULL DISCLOSURE: Copper Road Resources is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Copper Road Resources. The author has been compensated to cover Copper Road Resources on The Deep Dive, with The Deep Dive having full editorial control. 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.

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