With 4,090 metres having been drilled on the newly discovered East zone, New Canamin Resources (VSE) estimates preliminary reserves at its Huckleberry property near Kemano, B.C., are 31 million tonnes at 0.64% copper.
The company recently vested a 100% interest in the property subject to a back-in right held by Kennecott. That company can retain 60% up to the point of a production decision by paying New Canamin 150% of its development cost over and above the original $1.5-million earn-in.
New Canamin has started a second phase of drilling to expand the East zone which remains open along strike and to depth. The zone lies about 1,000 metres east of the Main zone which is estimated to contain preliminary reserves of 31 million tonnes grading 0.52% copper at a 0.40% copper cutoff. President Alan Savage notes that the East zone may extend right up to Hole 73-27 (118 metres grading 0.65% copper), on the northeastern edge of the Main zone and about 730 metres west of the East zone.
Geonex Aerodat has completed 500 line-km of airborne magnetometer, electro-magnetic and radiometric surveying from the south boundary of the property up to and including New Canamin’s Whiting Creek deposit to the north. The company plans to use the geophysical data and other geological information for a property-wide program this year.
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