Galore Creek area active as Rhodes drills copper zone

Despite its rugged and remote location, the Copper Canyon project in the Galore Creek area of northwestern British Columbia is emerging as one of the more prospective properties being explored by juniors managed by Prime Equities. Consolidated Rhodes Resources (VSE) is earning a 50% interest in the copper-silver-gold project from owner Canamax Resources (TSE), whose parent company carried out a 7-hole drill program on the property in 1957.

Based on this limited drilling, the project was estimated to contain a preliminary reserve of about 29.0 million tons grading 0.7% copper, 0.30 oz. silver and 0.01 oz. gold per ton. But because the 1957 program was hampered by poor core recoveries (as low as 5-15%), Rhodes has been reporting improved grades from the 1990 drill program where recoveries have been greater than 90% to date.

The company is drilling the western copper zone, one of at least two major zones of copper mineralization known to occur on the property. This year’s drilling has stepped out on section lines about every 400 ft. along the zone, over a total strike length of nearly 1,500 ft.

The zone is still open in all directions, and Rhodes intends to continue drilling into November as long as weather permits. The company is also considering at least one drill hole to test the eastern copper zone as it is believed a 1957 hole drilled in this area did not properly test the best mineralization.

The Copper Canyon property is at an elevation of 3,500 ft., some five kilometres from the Galore Creek property owned by Cominco Ltd., Hudson Bay and Kennecott Corp.

Assay results received to date from drilling on the Copper Canyon property are as follows: Intersection Core length gold silver copper Section Hole ft. ft. oz./ton oz./ton % 01 8.8-206.6 197.8 0.018 0.74 1.14 02 18.0-902.2 884.2 0.056 0.65 1.06 incl. 68.8-452.7 383.9 0.072 1.12 1.84 07 11.8-169.7 149.0 0.037 1.10 1.15 0400N 05 305.1-524.9 219.8 0.037 0.36 0.57 06 213.2-416.6 203.4 0.018 0.17 0.49 0700N 04 482.2-997.3 515.1 0.033 0.48 0.74 1150N 03 39.3-52.4 13.1 0.019 0.05 1.09 410.1-452.7 42.7 0.005 0.05 0.28 S 08 no significant mineralization