VANCOUVER, BC / ACCESSWIRE / April 7, 2020 / Granite Creek Copper Ltd. (TSXV:GCX) ("Granite Creek" or "the Company") announces the acquisition of airborne geophysical data, including magnetic and radiometric surveys, covering the Company's 100%-owned Stu Copper-Gold project in the central Yukon Territory. Data from the surveys is being processed in preparation for additional modelling and analysis (see Figure 1 below).
Since acquiring the Stu project, Granite Creek has been assembling a comprehensive exploration database covering the Minto/Carmacks district from several sources including data that has not previously been publicly available. Modelling this new airborne magnetic and radiometric data, which covers known deposits, will be conducted in combination with the analysis of surface geochemistry, drilling, and geologic information to quickly refine and prioritize targets for the next phase of exploration on the broader Stu Copper project.
To date four multi-kilometer-scale target areas have been identified on the Stu Copper-Gold project, based primarily on surface geochemistry (see Figure 2 below). Within these target areas a limited amount of drill testing has demonstrated the presence of significant copper-gold-silver mineralization similar to other deposits in the district including A Zone drill hole 80-18 with 2.8% Cu, 4.04 g/t Au and 17.42 g/t Ag over 12.5m. The addition of these airborne magnetic and radiometric surveys, which show distinctive signatures over areas of known mineralization, along with new exploration results from 2019 and compilation of historic data, will enable the Company to develop a predictive model of the geologic and structural controls for Minto-style copper and gold mineralization to guide future exploration.
Figure 1 Total Magnetic Field with Surface Geochemical Target Areas and Mineralized Zones
Figure 2 Copper in Soil Contours with Target Areas and Mineralized Zones
Tim Johnson, President and CEO of Granite Creek Copper, stated, "The acquisition and modelling of this airborne geophysical survey is a major advancement for the Stu project for use in the next phase of drill targeting. The combination of comprehensive geologic, geochemical and geophysical data layers will allow for refinement and prioritization of targets with the objective of identifying those areas that have the best potential to quickly advance towards resource definition. We look forward to providing additional updates on the technical work programs on the Stu Copper-Gold project in the coming weeks and months."
About Granite Creek Copper
Granite Creek Copper is a Canadian exploration company focused on the advancement of its 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 the 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.
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfields assets in established mining districts adjacent to some of the industry's highest-grade producers of platinum & palladium, silver and copper. Member companies include Granite Creek Copper in the Yukon's Minto copper district, Metallic Minerals in the Yukon's Keno Hill silver district and Group Ten Metals in the Stillwater PGM-Ni-Cu district of Montana. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry's leading explorer/developers and major producers and are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven historic mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.
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Quality Control and Quality Assurance
Ms. Debbie James, P.Geo., a qualified person for the purposes of National Instrument 43-101 has reviewed and approved the technical disclosure contained in this news release.
Forward Looking Statements: This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
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SOURCE: Granite Creek Copper Ltd.