April 1, 2021
CopperBank Resources Corp. (CSE:CBK, Not Rated, Taylor Combaluzier) announced target locations for its multi-phase 2021 drill program at its 100%-owned Copper Creek Cu-Mo-Ag project in Arizona, which features an historical resource estimate of 4.9B lbs of M&I CuEq and 3.7B lbs of inferred CuEq. Early drilling is expected to focus on 11 of 20 brownfield and greenfield prospects. Phase 1 of the planned program comprises 12 holes (6,000m) on company-owned, patented ground, and is designed to test near-surface mineralization in breccia pipes, vein swarms, disseminated porphyry hypogene mineralization, and secondary enrichment zones to a maximum depth of 325m. Importantly, only 10% of the 400 known hydrothermal breccias have been drill tested to date. Depending on the results, the company may top off its Phase 1 program by drilling an additional four holes (optional). Phase 2 is currently planned for 13 holes to be drilled on mixed patented, unpatented, and state-owned prospecting lease ground. Hole locations may be adjusted for this phase based on new results from geophysical reprocessing work that is anticipated to be completed by May 2021. The company expects to publish an updated technical report and resource estimate following the completion of future multi-phase drill programs. We are encouraged to see the company announce its 2021 drill program at its Copper Creek project, which is located in a fantastic jurisdiction, proximal to several major copper projects including Freeport-McMoRan’s (NYSE:FCX, Not Rated) Morenci and Safford mines, Resolution Copper, and ASARCO’s Ray mine. Read more
