Vancouver, BC, Granite Creek Copper Ltd. (ISIN:CA3873401028, TSX.V: GCX, FSE: GRK) (“Granite Creek”) announces that the Company has completed its inaugural field exploration campaign at the 100%-owned Stu Copper-Gold Project, located in the Minto Copper Belt of Canada’s Yukon Territory.
The project, which was acquired in January 2019, is situated between Copper North’s advanced Carmacks Copper Project to the south and Pembridge Resource’s operational Minto copper mine to the north. Following acquisition of the project, Granite Creek secured and reviewed an extensive, privately held exploration database and, based on those findings, launched the 2019 exploration program which was designed to refine drill targets for an anticipated 2020 campaign. An overview of the program, along with an update on other related initiatives, follows.
SOUTH TARGET AREA
In addition to geological mapping and access rehabilitation, an Induced Polarization (IP) survey consisting of seven lines totalling 24-line kilometres was completed in the South Target area. Designed to confirm the projected northern continuation of Copper North mineralized zones hidden by cover, the survey covered the historic Gran Zone and Zone 2 extension. Effective in detecting subsurface sulphide mineralization, IP surveys have been used successfully by other operators in the Minto Copper Belt as a targeting tool in advance of drilling. The Company worked with geophysicists to design a survey that would detect potential mineralization along strike from the adjacent Carmacks project and, importantly, penetrate deep enough to detect sulphide mineralization beneath the shallow copper oxide layer. Data from the survey is being compiled with historic geophysical data and will be used to target future drill programs with the goal of developing sulphide and oxide mineral resources.
Figure 1 shows: Property map with target areas
EAST TARGET AREA
Crews also focused on the ‘East Target’ and the historic ‘Zone D’ which lie within a regional scale, northwest trending structure hosted in Povoas Formation volcanics. Zone D was initially discovered in 2012 and was added to the Stu Project during a 2017 staking program. Compilation work completed by the Company brought the zone into focus and an additional 21 new claims were staked on the northeast side of the property (see news release dated July 15th, 2019). Follow-up prospecting revealed a fracture zone with malachite and iron oxides within the larger northwest trending structure. Anomalous copper values in soils suggest mineralization continues along the structure in both directions from Zone D. The presence of copper mineralization is confirmed in this area by a rock sample collected at Zone D which returned 0.74% Cu and 0.4 g/t Au, and sample 1481712 which was collected 1200m SE of Zone D and carried anomalous copper (180 ppm)
CENTRAL AND NORTH TARGET AREAS
The Central and North target areas were the subject of multi-year drilling and trenching permit applications that are currently under review. The company has already received and replied to a request for additional information on the permit and expects to have it hand for the first quarter of next year. Once in hand the property will be fully permitted for drilling.
Granite Creek President & CEO, Tim Johnson, commented: “Since the launch of Granite Creek Copper in January 2019, the dynamics in the Minto Copper belt have improved considerably. Pembridge Resources restarted operations at the nearby Minto mine in October and already have copper concentrate shipments underway. We are very pleased to be working within this active district and taking a prominent role in the development of copper and precious metal resources. After graduating from the NEX board in January this year, Granite Creek has acquired an extensive private exploration database, strengthened our team with the creation of a technical advisory board, completed an initial field program, and acquired a 30% interest in neighbouring Copper North Mining. We see favourable fundamentals for copper and gold continuing to build into 2020 and beyond. We look forward to providing investors with additional updates about our Stu project, and developments in the broader Minto Copper belt as a whole, over the next few weeks and months.”
About Granite Creek Copper
Granite Creek is a Canadian exploration company focused on the 100%-owned Stu Copper-Gold project located in the Yukon’s Minto Copper District. This 115-square-kilometer property is on trend with Pembridge Resources high-grade Minto Copper-Gold Mine to the north and Copper North’s advanced-stage Carmacks Copper-Gold-Silver project to the south. The Stu project has excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. More information about Granite Creek and the Stu Copper-Gold project can be viewed on the Company’s website at www.gcxcopper.com.
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Telephone: +1-604-235 1982
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