Copper North (CVE:COL) started drilling at its flagship Carmacks copper, gold and silver project in the Yukon, focusing on the past month's geophysical targets and definition drilling of several mineral zones identified for their potential to significantly increase mineral resource expansion.
"We are confident that this year's planned $900,000 exploration program will follow the successful 2014 program and expand oxide mineral resources at our Carmacks Project, and the resources can be added into the development plan," said Copper North's president and CEO, Dr. Harlan Meade.
The Measured and Indicated mineral resource estimate totals 11.98 million tonnes grading 1.07% total copper, of which 0.86% is soluble copper according to a preliminary economic assessment (PEA) filed on SEDAR on May 30, 2014, which also included gold and silver resources.
According to the PEA, the project is expected to produce some 30 million pounds of LME 'Grade A' copper cathode per year, as well as 17,300 ounces of gold and 165,000 ounces of silver.
Copper North said that it will focus on the resource in the oxide classification as has shown the mineralization with the right characteristics for open pit mining methods in accordance with the PEA.
The company will conduct three drilling phases. In the first phase, it will target the 2000S zone that forms part of The Gap South target area immediately south of the proposed open pit area. Previous drilling has defined a near surface oxide and sulphide mineral zone.
The second phase of drilling will focus on two target areas within The Gap North area, immediately north of Zone 1 proposed open pit. The Gap North area has extensive overburden and valley fill materials. The drill holes will test geophysical anomalies flanking the valley fill.
Finally, the third phase of drilling will concentrate on in-fill drilling in zones 12 and 13, which are expected to define both oxide and sulphide near-surface mineralization while providing sufficient assay information to determine mineral resources in selected parts of these two zones.
Zone 12 and 13 define a mineralized zone in a northwest trending structural zone, extending approximately 1,500 metres in length. Previous drilling defined two near surface zones of oxide and sulphide mineralization.