New Canamin drilling focuses on high-grade copper core

A drilling program at the Huckleberry property under option to New Canamin Resources (VSE) continues to return excellent copper values.

The company is proceeding with a second-phase drilling program to further define a high-grade core within a previously drilled deposit about 25 miles east of Kemano, B.C.

New Canamin is earning a 100% interest in the property from Kennecott by spending a total of $1.5 million. Kennecott, in turn, has the right to back in for a 60% interest by paying New Canamin 150% of its costs above the $1.5-million earn-in.

Previous work on the property in the early 1970s outlined a preliminary reserve of about 85.6 million tons grading 0.4% copper with a strip ratio of about 1.1-to-1 at a cutoff grade of 0.3% copper. The company hopes to outline 20-30 million tons in the core of the deposit grading 0.6% copper or better. Drilling to date has traced the high-grade core along 1,500 ft. of north-south strike length along two lines of holes spaced about 100 ft. apart. Drilling is continuing with a third line of holes 100 ft. to the east. Recent drilling results are as follows:

Hole Interval Length Copper

(ft.) (ft.) (%)

92-18 50-180 130 0.65

180-310 130 0.34

92-19 30-270 240 0.29

92-20 40-250 210 0.35

250-300 50 0.68

300-410 110 0.34

92-21 30-210 180 0.28

92-22 44-170 126 0.21

170-290 120 0.54

290-450 160 0.34

92-18V 40-150 110 0.92

150-230 80 0.45

230-400 170 0.66

92-23 40-550 510 0.60

92-24 70-630 560 0.38

92-25 40-480 440 0.51

92-26 50-80 30 0.49

80-370 290 1.05

370-420 50 0.40

92-27 60-250 190 0.46