Partners Noranda Minerals and Rhonda Mining (ASE) have discovered a new sediment-hosted copper deposit on the Epworth property, 120 km south of Coppermine, N.W.T.
Exploration over the past three years has uncovered more than 40 base metal showings and, more recently, a regional trend of copper mineralization has been found to occur intermittently over a 20-km distance.
The showings are associated with a boulder train and, typically, are hosted in quartzites and dolomites with copper grades of up to 3%. Some high-grade mineralization, consisting of massive bornite and chalcocite, has also been observed.
In addition, silver and cobalt have been associated with portions of the copper mineralization. Lead and zinc mineralization has also been found on other parts of the property.
Noranda and Rhonda are conducting geological and geophysical surveys to define drill targets which will be tested in 1995.
Rhonda can earn a half interest in the 450,000-hectare property from Noranda by spending $4 million on exploration. Once the interest is obtained, expenditures will be shared equally and Noranda will continue as operator. To date, Rhonda has spent $3.3 million.
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