Junior
The discoveries, exposed by a new logging road excavated 1 km north of the Lake Zone nickel-copper-cobalt deposit, appear as pervasive sulphide minerals in Ordovician-aged, folded quartzites, pelites and carbonaceous shales.
Grab samples run up to 9.2% zinc and 1.94% copper, plus 2.54 grams gold and 39 grams silver per tonne. Based on these results, drilling is expected to begin shortly.
Copper Hill can acquire the 2,082-ha property, 17 km west of Grand Falls-Windsor, by spending $300,000 on exploration, paying $32,500 in cash over two years and issuing 300,000 shares.
If commercial production ensues, the vendors would retain a 3% net smelter return royalty and receive an additional 100,000 shares.
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