- High-grade copper and gold mineralization was identified in outcrop at the main zone across a 500 m extent, including 3.03% copper with 4.46 g/t gold, 2.83% copper with 6.07 g/t gold, and 0.42% copper with 14.60 g/t gold (Figures 1 & 2);
- Samples from an outcrop of diorite porphyry located 2 km south of the main zone returned 1.45% copper with 0.20 g/t gold, and 1.27% copper with 0.57 g/t gold (Figures 1 & 3);
- 473.97 m of RC drilling was completed in 6 holes, however all holes failed to reach target depth due to equipment limitations and poor ground conditions. Planning is underway to return to the Property with a diamond drill in summer 2023.
"We continue to be impressed by the amount of surface mineralization present at Catch. During the phase two program our crews continually discovered new areas of float and bedrock mineralization by following up on soil sample anomalies. We have now defined an extensive zone of high-grade copper and gold in altered and brecciated basalt at the main zone, and identified a mineralized diorite intrusion over 2 km to the south. This diorite-hosted discovery is critically important for the project, as it demonstrates that a copper-gold bearing intrusion is present at surface," stated
Figure 1 – Catch Copper-in-Soil
Figure 2 –
Figure 3 –
Figure 4 – Catch IP Cross-Section
The phase two work program at Catch included collection of 33 infill soil samples, 176 rock samples, and 473.97 m of RC drilling in 6 holes.
The prospecting program was highly successful in identifying new zones of surface mineralization, and in expanding the footprint of the main zone. Numerous high-grade outcrop samples were collected, including 3.03% copper with 4.46 g/t gold, 2.83% copper with 6.07 g/t gold, and 0.42% copper with 14.60 g/t gold – all from the main zone (Figure 2). Mineralization throughout this area is extensive, with high-grade samples collected from outcrops across a 500 m area. Float samples from this zone extend mineralization to a 400 x 600 m area.
A new zone with an outcropping diorite porphyry was also identified over 2 km south of the main zone (Figure 1). Samples of the diorite returned 1.45% copper with 0.20 g/t gold and 1.27% copper with 0.57 g/t gold and are coincident with a pronounced 600 x 600 m magnetic low (Figure 3). This outcrop was discovered by prospecting in the final days of the exploration program and very limited sampling has been conducted in this area to-date. With these robust grades and potential for additional associated porphyry-style copper and gold mineralization, this target area is being prioritized for additional work in early 2023.
Initial petrographic studies show mineralization at the main zone is dominantly associated with propylitic to sericitic alteration of basalt, hydrothermal breccias and rare diorite host rocks. Petrography of the diorite zone shows dominantly sericitic alteration of diorite and lesser hydrothermal breccia host rocks.
RC drilling was aimed at evaluating coincident copper-gold geochemistry at surface and induced polarization ("IP") chargeability at depth within the main zone (Figure 2). Unfortunately, ground conditions proved more challenging than anticipated and the heli-portable RC rig was not able to reach target depth in any hole. Anomalous copper and gold were intersected in multiple holes; however, no significant intercepts were returned. The primary IP target remains untested (Figure 4), and numerous other areas on the Property with high-grade copper and gold in rock have yet to be evaluated by drilling, including the diorite zone.
The Property lies within the Stikine Terrane and is immediately adjacent to the 1,000+ km long, deep seated, crustal scale strike-slip Teslin-Thibert fault. The Stikine Terrane is characterized by Late Triassic to early Jurassic volcanic-plutonic arc complexes that are well-endowed with copper-gold-molybdenum porphyries including the Red Chris,
The Property is mostly underlain by augite phyric basalt of the Semenof Formation, centered on a 7 x 3 km regional magnetic high. Mineralization is associated with propylitic to sericitic alteration of basalt and lesser diorite host rocks. Locally there is intense silicification, brecciation and up to 10% disseminated to blebby pyrite, chalcopyrite and trace bornite and pyrrhotite. Secondary copper minerals including malachite, azurite and tenorite are widespread at surface, and coat fracture surfaces, and are often associated with gypsum.
The geology, alteration and mineralization observed throughout the Property are all indicative of a nearby copper-gold ± molybdenum bearing porphyry system.
The Property is under option from a
Analytical work for all samples was completed by
Overlimit values for gold were determined by the Au-GRA22 procedure which involves fire assay preparation using a 50-gram charge with a gravimetric finish. Overlimit values for copper were determined by the Cu-OG62 procedure which involves a four-acid digestion followed by ICP-AES analysis.
Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream of drill samples to ensure integrity of the assay process. All drill samples included in this news release have passed the QA/QC procedures as described above.
The technical information in this news release has been approved by
On behalf of
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This press release may contain "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release. The Company undertakes no obligation to update forward-looking information, except as required by securities laws.
The mineral resource estimates included in this press release have been prepared in accordance with Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Additional information about the Tiger Deposit PEA is summarized in
SOURCE
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