Drill hole 22EXP058 cut 11.40% Copper ("Cu"), 0.51 grams per tonne ("g/t") Gold ("Au"), 43.93 g/t Silver ("Ag") over 4.00 metres ("m") at approximately 100 m vertical depth in a newly discovered mineralized zone between the Minto North and Main open pits.
Highlights (Figure 1):
Hole 22EXP053
- 2.19% Cu, 0.24 g/t Au, 14.02 g/t Ag over 7.31 m at approximately 450 m vertical depth and 150 m north-west of the Minto Main pit;
Hole 22EXP055
- 1.66% Cu, 1.31 g/t Au, 12.10 g/t Ag over 1.24 m at approximately 250 m vertical depth and immediately south of the Minto North II orebody (see NI 43-101 Preliminary Economic Assessment Technical Report, Minto,
Yukon, Canada with an effective date ofMarch 31, 2021 ); and
Hole 22EXP057
- 1.33% Cu, 0.35 g/t Au, 19.22 g/t Ag over 3.12 m at approximately 300 m vertical depth and 200 m north of the Minto Main pit;
"We are very pleased with the results from the last batch of drilling and assays returned. The high-grade mineralization reported for drill hole 22EXP053 are some of the highest grade copper assays returned in the history of exploration at the
In 2022, Minto completed 53 holes for 28,438 metres (Figure 1). Previous results for 2022 were reported in press releases dated
As with previous drilling, all drill holes reported here intersected typical Minto-style, stacked, lensoidal mineralization of varying thickness and sulphide content. Mineralized host rocks (quartzo-feldspathic migmatite and gneiss) and sulphide speciation (bornite and chalcopyrite) are consistent in all holes reported with a direct correlation between sulphide content, speciation and Cu grade.
Drill hole 22EXP058 (Table 2, Figures 1 & 3) was drilled testing a chargeability anomaly between 100 m and 300 m below surface. The hole intersected semi-massive bornite with stringer and blebby chalcopyrite over 4.0 metres. The core of the high-grade mineralization included continuous individual assays of 25.5% Cu over 0.5 m, 38.27% Cu over 0.75 m and 4.37% Cu over 0.84 m. The former first two assay results were among the 99th percentile of drill hole assays that exist in the extensive Minto diamond drill hole database. This new zone occurs immediately to the east and less than 100 m below the near-surface Inferno prospect, occurs along a prominent northwest-trending geophysical lineament and remains open to the south-southeast. Spatially, this mineralized interval occurs approximately 450 m south of planned development at Minto North II and 300 m north of the Minto Main open pit.
Drill hole 22EXP053 (Table 2, Figures 1 & 4) was drilled to follow-up on mineralization intersected in drill hole 21EXP007 (see press release dated
The Company continues working with ALS Goldspot Discoveries ("Goldspot") on 3D geology modeling and 2D/3D prospectivity targeting for the
Table 1. Drill hole location information for the 2022 drilling reported in this press release.
Note: Co-ordinate system: |
Table 2. Assay results reported in this press release.
Notes: |
Ag values from drill hole 22EXP058 were over the detection limit (>100 ppm) and have been capped at 100 g/t for purposes of compositing. |
True width is estimated to be 75 to 95% of drilled width. |
Drill composites include dilution of up to 2 metres at grades less than 0.05% Cu. |
NSV = no significant values |
g/t = grams per tonne. |
Figure 1. Minto Mine Complex Plan View Map with highlighted Drilling results in this Release.
Figure 2. Regional Map of
Figure 3. Vertical cross-section for drill hole 22EXP058 looking northwest. The light blue colored area represents the potential extents or target area projected for the mineralized zone reported in 22EXP058.
Figure 4. Vertical cross-section for 22EXP053 looking west. The light blue colored area represents the potential extents or target area projected for the mineralized zone reported in 22EXP053 south towards the
The technical contents of this news release have been reviewed and approved by
Quality assurance and quality control procedures include the systematic insertion of duplicate, blank and certified reference materials (CRM), making up 17% of the sampling stream. Drill core samples were sawn in half, labelled, placed in sealed, securitized bags and shipped directly to Bureau Veritas preparation laboratory in
Minto operates the producing Minto mine located within the traditional territory of the Selkirk First Nation in the Minto Copper Belt of the
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements"), within the meaning of applicable Canadian securities laws and "forward-looking information" within the meaning of applicable
Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance, or achievements to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and you are cautioned not to place undue reliance on forward-looking statements contained herein. Some of the risks and other factors which could cause actual performance and results to differ materially from those expressed in the forward-looking statements contained in this news release, include, but are not limited to: changes in commodity prices, general economic conditions, mineral reserve and mineral resource estimates may change and may prove to be inaccurate; Minto has a limited operating history and is subject to risks associated with establishing new mining operations; sustained increases in costs, or decreases in the availability, of commodities consumed or otherwise used by the Company may adversely affect the Company; adverse geotechnical and geological conditions (including geotechnical failures) may result in operating delays and lower throughput or recovery, closures or damage to mine infrastructure; the Company's operations may encounter delays in or losses of production due to equipment delays or the availability of equipment; the Company's operations are subject to continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; the Company may be unsuccessful in attracting and retaining key personnel; labour disruptions could adversely affect the Company's operations; risks related to the Company's use of contractors; the hazards and risks normally encountered in the exploration, development and production of copper, gold and silver; the Company's operations are subject to environmental hazards and compliance with applicable environmental laws and regulations; the Company's operations and workforce are exposed to health and safety risks; the Company's title to exploration, development and mining interests can be uncertain and may be contested; the Company's properties may be subject to claims by various community stakeholders; risks related to limited access to infrastructure and water; the Company may not be able to secure additional financing when needed or on acceptable terms; the Company may be subject to litigation; and those risk factors set out in the Company's annual information form dated
Although the Company has attempted to identify important factors that could cause actual performance, results, or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in or incorporated by reference in, this news release if these beliefs, estimates, and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither the
Contact Information:
Director, Investor Relations
(604) 759 4666
E-mail: info@mintomine.com
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