Powderhorn reveals more showings

Junior Copper Hill (CUHL-C) has found new showings at the Powderhorn property in Newfoundland’s central mineral belt.

The discoveries, exposed by a new logging road excavated 1 km north of the Lake Zone nickel-copper-cobalt deposit, appear as pervasive sulphide minerals in Ordovician-aged, folded quartzites, pelites and carbonaceous shales.

Grab samples run up to 9.2% zinc and 1.94% copper, plus 2.54 grams gold and 39 grams silver per tonne. Based on these results, drilling is expected to begin shortly.

Copper Hill can acquire the 2,082-ha property, 17 km west of Grand Falls-Windsor, by spending $300,000 on exploration, paying $32,500 in cash over two years and issuing 300,000 shares.

If commercial production ensues, the vendors would retain a 3% net smelter return royalty and receive an additional 100,000 shares.