Mining News: Broad copper intercept confirms continuity in Pyramid main zone

CopperBank Resources Corp. Oct. 4 said results from the first two holes of its 2017 drill program at Pyramid demonstrate the expansion potential of the copper deposit on the Alaskan Peninsula. 17PY032, the second hole of the 2017 program cut three mineralized intercepts: 40 meters of 0.33 percent copper, 0.1 percent molybdenum and 0.07 g/t gold from 11 meters; 51.3 meters of 0.34 percent copper, 0.02 percent molybdenum and 0.1 g/t gold from 67 meters; and 201 meters of 0.48 percent copper, 0.02 percent molybdenum and 0.1 g/t gold from 132 meters. Drilled between two historical holes that cut significant widths of similar copper grades, CopperBank says this hole confirms continuity of mineralization in this area of the Main zone at Pyramid. Hole 17PY031, which tested the western extension of the North zone at Pyramid, cut 6 meters of 0.24 percent copper, 0.05 percent molybdenum and 0.04 g/t gold. CopperBank said hole 31 established the disruption of the mineralization within the West zone. According to a 2013 calculation, Pyramid hosts roughly 1.1 billion pounds of copper in 122.5 million metric tons of inferred resource averaging 0.41 percent copper, 0.1 grams per metric ton gold and 0.021 percent molybdenum, according to resource calculated in 2013. The 2017 program included 3,628 meters of drilling in 13 holes designed to extend mineralization within the various zones that make up the deposit, identify connections between the three mineralized zones and to validate the existing block model established by the previous operators. The results from the 2017 program will be used to update the Pyramid resource.

-SHANE LASLEY