FULL DISCLOSURE: Selkirk Copper is a sponsor of theDeepDive.ca.
Selkirk Copper Mines (TSXV: SCMI) has released assay results from its ongoing 50,000 metre drill program being conducted at the Minto Mine. Assay results for a total of nine holes were released Monday evening, with the company making multiple high grade intercepts.
Highlights from the results include:
- Minto North West Zone:
- 25SCM009: 2.34% copper, 0.43 g/t gold and 8.69 g/t silver over 24.0 metres from a depth of 210.97 metres
- Including 4.96% copper, 0.85 g/t gold and 18.67 g/t silver over 9.9 metres
- 25SCM009: 2.34% copper, 0.43 g/t gold and 8.69 g/t silver over 24.0 metres from a depth of 210.97 metres
- Ridgetop Zone:
- 25SCM004: 1.36% copper, 0.5 g/t gold and 2.92 g/t silver over 23.0 metres from a depth of 108.0 metres
- Including 2.20% copper, 0.80 g/t gold and 4.52 g/t silver over 7.0 metres
- 25SCM006: 1.02% copper, 0.37 g/t gold and 3.17 g/t silver over 27.7 metres from a depth of 90.29 metres
- Including 1.46% copper, 0.47 g/t gold and 4.04 g/t silver over 14.7 metres
- 25SCM004: 1.36% copper, 0.5 g/t gold and 2.92 g/t silver over 23.0 metres from a depth of 108.0 metres
Full results released this morning included three drill holes conducted at the Minto North West zone and six holes from the Ridgetop zone. The latest results are said to have expanded the size of the Minto North West zone by 150 metres to the south of the previously modeled zone.
“I am extremely pleased with results at the Minto North west zone which confirms our view that this zone has significant growth potential, with high copper and gold grades intersected over significant widths. In addition, the Trade-Off Study, including metallurgical testing, is advancing on schedule and is benefitting from input from Selkirk First Nation’s consultants,” commented Colin Joudrie, CEO of Selkirk Copper.
READ: Selkirk Copper Appoints Two Members Of Selkirk First Nation To Leadership Team
To date, 32,026 metres of drilling has been completed of the 50,000 metre drill program, with a total of 121 drill holes conducted to date. Drilling has paused for the holiday break, with the program expected to resume in mid-January.
The remainder of the program is expected to be focused on the Ridgetop, Copper Keel, Minto East and Minto North zones. The program will also follow up on historical high grade results between Minto East and Minto North, testing greenfield targets to the north, and testing newly interpreted regional structures.
Selkirk Copper also provided a brief update on the ongoing trade-off study and metallurgical test program, indicating that engineering continues to progress well, with designs advancing on items that include mine design, infrastructure, processing, and economics amongst other points. Opportunities to improve recoveries at Ridgetop and reduce power consumption on the processing side of operations have already been identified, with further potential upside being analyzed currently.
Selkirk Copper Mines last traded at $0.51 on the TSX Venture.
FULL DISCLOSURE: Selkirk Copper is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Selkirk Copper. The author has been compensated to cover Selkirk Copper 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.
