Results from eight diamond drill holes on the Howards Pass zinc-lead project in the Yukon confirm the potential for mineralization minable by open-pit methods.
The drilling was carried out as part of a due diligence review by
Howards Pass contains a resource of 110.5 million tonnes grading 5.3% zinc and 2.4% lead, plus silver and cadmium credits. Copper Ridge intends to define a minimum of 70 million tonnes of open-pit reserves — enough to support a 10-year mine life at daily throughput of 20,000 tonnes.
The company focused on two areas of the 42-km-long property: Anniv Central and Don Valley. The former contains the 55-million-tonne Anniv resource, which grades 7.1% combined zinc-lead.
Copper Ridge targeted shallow occurrences of the Active member horizon (the host for mineralization at Howards Pass) along the northern boundary of the Anniv deposit in an area obscured by overburden. The first two holes, nos. 65 and 66, were collared in footwall rocks, below the mineralized horizon, and did not encounter any zones of interest.
The third hole, 68, was collared directly in the horizon and returned a 5.5-metre section grading 6.96% zinc and 2.42% lead, starting at a down-hole depth of 10.7 metres. Hole 70 stepped back 35 metres on the same section and intersected 19.6 metres grading 6.14% zinc and 1.99% lead (including 8 metres of 10.56% zinc and 3.53% lead), beginning at a depth of 18.5 metres down-hole. The first four holes were drilled at an angle of minus 50.
The final hole, 72 was drilled vertically in the central part of the Anniv deposit. It hit 22.4 metres grading 4.29% zinc and 1.32% lead from a depth of 30.3 metres.
At the Don Valley target, 4 km southeast of Anniv Central, Copper Ridge drilled three holes on 150-metre spacings. Hole 67 intersected multiple intervals including: 18.4 metres grading 2.3% zinc and 0.69% lead from a down-hole depth of 15.4-33.8 metres; 3.8 metres grading 5.19% zinc and 1.19% lead from 52.8 to 56.6 metres; and 25.4 metres grading 4.34% zinc and 1.02% lead (including 8.2 metres of 7.92% zinc and 1.84% lead) from 79.7 to 105.2 metres.
Hole 69 hit 14.5 metres grading 4.32% zinc and 1.11% lead, starting at 36 metres down-hole, whereas hole 71 pulled 23.7 metres grading 4.27% zinc and 1.02% lead (including 8.5 metres of 6.52% zinc and 1.53% lead) from 33 to 56.7 metres.
Copper Ridge believes the Don Valley area shows the greatest potential for the definition of near-surface resources.
The Vancouver-based junior can acquire Howards Pass by making staged payments totalling $10 million over four years. A further $5 million would be payable at the time of a production decision. The first $1-million payment (75% cash and 25% shares) is due in December.
In the short term, success at Howards Pass hinges on Copper Ridge’s ability to attract a new partner, or its ability to go it alone and finance the deal with Placer Dome and U.S. Steel, and advance the project forward with a scoping study.
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