Jan 05, 2015
Carmacks 2014 Exploration Project Update
Vancouver, British Columbia - Copper North Mining Corp. ("Copper North" or the "Company") (TSX.V:COL) is pleased to provide an overview of exploration on the Carmacks Project.
The Carmacks copper-gold-silver mineralization has been found in at least 15 zones, defining the mineralized northeast dipping shear structures that extend for at least five kilometres. The proposed mining area consists of zones 1, 7, 7a and 4, spanning approximately 600 metres of the main structure. The 2014 program consisted of geologic mapping, trenching, induced polarization and magnetic geophysical survey and diamond drilling and focused on expansion of the proposed mining area. The mineral resources contained in the proposed mining area are 11.98M tonnes of Measured and Indicated resources grading 1.07% copper, 0.456 g/t gold and 4.58 g/t silver. The mineralization appears to be cutoff by northeast trending cross faults.
Dr. Harlan Meade states: "The 2014 program, composed of geological review and target priority for expansion of mineral resources adjacent to the proposed mining area at Carmacks, confirmed the opportunity for significant expansion of both oxide and sulphide mineral resources. A larger program is being planned for 2015 with the goal to expand the mineral resources in pursuit of extending the potential mine life."
South GAP Zone - 2000S Extension
This zone is located between the south extension of zones, 1, 7, 7A and 4 and 2000S zone. The South Gap target consists of an approximate 300 metre gap between the main proposed mining area and the 2000S zone. The 2000S zone has been defined by 6 drill holes with both oxide and sulphide mineralization. Drill hole WC92-01 intersected 10.67m grading 0.67% copper at a depth of 30 to 41metres. To follow up on this intercept, drill hole CN14-11 was collared 22 metres to the north northwest of WC92-01, and intersected 18.74 metres grading 0.58% copper, 0.189 g/t gold and 2.46 g/t silver at a depth 21 to 40 metres. Three other drill holes failed to intercept the mineralized zone. Additional drilling is warranted in defining the continuation of the mineralization to the northwest and location of the cross faults that are displacing the mineralization in the GAP zone. Any expansion of the 2000S zone has the potential to define a mineral resource amenable to open pit mining, and could coalesce with the main proposed pit area.
North GAP - Zone 2 Extension
The North Gap represents the area between the boundary fault that truncates the north end of Zone 1 and Zone 2; a distance of approximately 2,500 metres. Exploration this past year was focused on extending the Zone 2 mineralization along strike. Trenching indicated that Zone 2 is cutoff by a cross fault, approximately 20 metres to the northeast of the discovery outcrop and trench. Additional trenching failed to find an extension on the north side of the cross fault. Trenching to the southeast met with success.
The historic Zone 2 trench was refreshed with the excavator and the oxide copper zone was resampled. The shear fabric and distribution of oxide copper minerals indicates a steep dipping mineralized zone, trending southeast; sampling yielded 15 metres grading 0.9% copper oxide mineralization. Trenching to the southeast was successful in tracking the mineralized zone for approximately 500 metres. Sampling of mineralization was hampered by permafrost capping that limited the downslope extent. Sampling of the oxide copper mineralization in the new trenches varied from 3m grading 0.43% copper to 12 metres grading 1.05% copper.
To test the mineralization to depth, ten drill holes were undertaken and defined the mineralized structure over a distance of 450 metres. The drill holes intersected the mineral zone at depths between 9.6 metres and 81.0 metres. All holes intercepted the mineral zone and yielded an average of 10.5 metres grading a weighted average of 0.36% copper, 0.069 g/t gold and 4.37 g/t silver. The intercepts and grade of the individual intercepts is available on the Company's web site.
The trenching and drill hole intercepts in Zone 2 confirm the continuity of the mineralization to the south. Additional exploration is warranted to determine if the Zone 2 mineralization is an extension of Zone 1. Of interest, part of the target area is covered by near flat lying Cretaceous volcanic rocks, which may well provide an erosional cover that may preserve the oxidized mineralization. The preservation of oxide mineralization to depth is key to developing additional substantial oxide copper resources.
The target area between the most southerly intercept and the boundary fault is approximately 2,000 metres long, the North Gap Zone, is the prime focus for drilling in 2015. The 2015 program will also include detailed geophysical surveys to define structural features hosting and displacing mineralization.
Drill, trench and soil samples were analyzed by ALS Ltd, in Vancouver, BC. Duplicate samples of drill core were collected at 20 sample intervals and analyzed by Acme Analytical Laboratories Ltd. Sample Standards and sample blanks were inserted with each sample shipment, with each of the laboratories.
Scott Casselman, P.Geo. supervised the exploration and drilling on Carmacks property. Dr. Harlan Meade, P.Geo. is the Qualified Person responsible for the preparation of this news release.
On behalf of the Board of Directors:
"Dr. Harlan Meade"
President, CEO and Director
About Copper North
Copper North is a Canadian mineral exploration and development company. Copper North's assets include the Carmacks Project located in the Yukon, the Redstone Property located in the Northwest Territories, and the Thor Property in British Columbia. Copper North trades on the TSX Venture Exchange under the symbol COL.
For Further Information
Dr. Harlan Meade
President and Chief Executive Officer
Tel: 604 398 3451
The following table provides the details of the 10 holes completed on the Zone Extension and drill hole CN14-11 in the Gap Zone. Drill holes CN14-12 to 14 did not penetrate the mineralized structure. All holes dip steeply and are assumed to be vertical for estimation of true width.
This news release includes certain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to results from previous exploration on the Carmacks Project; proposed exploration plans, their timing, and results achieved from such activity; the potential for expanding the known mineral resources; development, engineering and permitting activities, and their timing; and future economic operating results. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the timing and success of future exploration and development activities, exploration and development risks, market prices, exploitation and exploration results, availability of capital and financing, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, unanticipated environmental impacts on operations and other exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the proposed exploration and development of the Carmacks Project will proceed as planned; early exploration success will increase mineral resources; market fundamentals will result in sustained metals and mineral prices, and any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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