Mining News: More 2017 drilling at Pyramid

CopperBank Resources Corp. Aug. 14 announced plans to expand its 2017 drill program at the Pyramid copper-gold-molybdenum project on the Alaska Peninsula. The company had already expanded the originally planned 1,500-meter initial phase of drilling by adding a second rig. Following a site visit by CopperBank’s technical team and consultants from SRK Consulting (Canada) Inc., the company has decided to add a second phase of drilling to the program. “There were a number of professional geoscientists and engineers present to carefully consider the historical drilling results, the effectiveness of the current phase one drill program, and the rationale to expand and continue drilling," said CopperBank Executive Chairman Gianni Kovacevic. Pyramid hosts 122 million metric tons of inferred resource averaging 0.41 percent copper, 0.1 grams per metric ton gold and 0.021 percent molybdenum. CopperBank, however, is treating this resource as a historical and hopes to update it with a current minerals resource following the expanded 2017 exploration program. CopperBank plans to complete a C$750,000 private placement fund the second phase of drilling.

–SHANE LASLEY