Copper North's 100% owned Coates Lake deposit, Northwest Territories, Canada, is the second largest high grade (>2.5% Cu) undeveloped copper deposit in the world with an historic resource of 33.4 Mt of 3.92% Cu and 11.3 g/t Ag*. The Redstone Copperbelt is an underexplored district that is highly prospective for sediment hosted copper deposits with strong geological similarities to the giant deposits found in the Central African Copperbelt of the Democratic Republic of Congo and Zambia or the Polish Kupferschiefer. Mineralization has been traced over a 6 km strike length at Coates Lake and IP chargeability anomalies extend for a further 4 km along strike. The deposit is open to the north, west and south -- drill ready targets have been identified and may lead to significant expansion of known areas of mineralization. The Coates Lake deposit is a high quality copper asset in a stable jurisdiction and has significant upside potential.
Location and Access
The Redstone property is located in the Mackenzie Mountains, western Northwest Territories, Canada. The lease containing the historical resource is located at Coates Lake, approximately 115 km NE of Tungsten and 170 km WSW of Wrigley. Access is by fixed wing aircraft to land on Coates Lake with floats or skis, or on wheels at the airstrip on the property.
The style of mineralization is similar to deposits in the Central African Copperbelt such as the Kamoa deposit in the Democratic Republic of Congo or to the Kupferschiefer of Central Europe -- these deposits tend to be large and have high copper grades. The copper mineralization is hosted in Neoproterozoic microbial dolostones at the contact between continental red-beds (Rr) and an overlying limestone sequence (CP1-CP6; see above image). Mineralization comprises disseminated chalcocite, bornite and chalcopyrite with bedding parallel veins of bornite-carbonate.
The copper mineralization occurs in layers that are thin (~0.3 to 3 metres) but laterally extensive and show continuous mineralization over at least 6 km of strike length. Geophysical anomalies indicate that the deposit may be at least 10 km in strike length.
After discovery by prospecting in the early 1960s, drilling throughout the 1960s-1970s led to the definition of a historic resource of 33.4 Mt of 3.92% Cu and 11.3 g/t Ag* over a weighted average true thickness of 1.00 metres for a total of 2.9 Blbs Cu and 12.2 Moz Ag contained metals. In 2012, Copper North conducted a mapping and geophysical surveying program, resulting in the identification of strong IP chargeability anomalies extending for a strike length of ~4 km from the north end of the historic resource area. Chargeability anomalies were also detected to the south of the historic resource area, where the mineralized beds appear to be thicker. These areas are prime exploration targets and are ready to be drilled with the potential to significantly expand the historic resource base.
Scientific and technical information regarding the Company's Redstone property is derived from a technical report entitled "Technical Report on the Coates Lake Copper Deposit, Nahanni Mining District, Western Northwest Territories for Lumina Resources Corp." dated August 15, 2005 and prepared by A.W. Gourlay, P.Geo.
*The historical estimate for the Redstone property is derived from a technical report entitled "Technical Report on the Coates Lake Copper Deposit, Nahanni Mining District, Western Northwest Territories for Lumina Resources Corp." dated August 15 2005 prepared by A.W. Gourlay, P.Geo. This technical report was filed on SEDAR on April 2, 2007 under the profile of Western Copper and Gold Corp., a predecessor company to Copper North. The source and date of the historical estimate, key assumptions, parameters, and methods used to prepare the historical estimate and information concerning further work required to upgrade or verify the historical estimate as current mineral resources are contained in the Company's news release dated May 10, 2012. This news release can be found under the News Release section of this website. Copper North is not treating this historical estimate as current mineral resources and the Qualified Person responsible for review of the historical resource has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves.