Vancouver – Kenrich-Eskay Mining (KRE-V, KREKF-O) has delivered a modest resource estimate for the Double Ed deposit on its 50%-owned Coastal Copper project located in the Anyox mining district just west of Kitsault in northwestern British Columbia.
Based on about 9,400 metres of drilling in 27 holes conducted during 2006, Kenrich-Eskay has tabled an indicated resource of 1.85 million tonnes grading 1.6% copper, 1% zinc and 15.1 grams silver in the volcanogenic massive sulphide (VMS) deposit.
The drill program defined a massive sulphide zone with dimensions of 200 metres north-south, up to 300 metres downdip and a true thickness ranging from 2 metres to over 15 metres. The deposit is open to the north and south as well as downdip. This years planned exploration program of about $1.5 million will include drilling to test its extension potential.
Mineralization consists of massive to semi-massive chalcopyrite and pyrite-pyrrhotite within altered mafic volcanics. A deeper section of the deposit is interpreted as a folded lens.
The Double Ed deposit, which was first discovered in 1952, is adjacent to the past producing Hidden Creek and Bonanza copper mines that operated from 1914-35 and 1929-35 respectively.
The Coastal Copper project is a 50-50 joint venture with a private company.
Kenrich-Eskay is also exploring its Corey project located about 10 km south of Barrick Gold‘s (ABX-T, ABX-N) Eskay Creek gold-silver mine in northwestern BC. It plans a $6-million program this year on the project including drilling.
Shares of the company recently traded in the 85-range, giving Kenrich-Eskay a $52-million market capitalization based on its 61.4-million shares outstanding.
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