Vancouver – Redhawk Resources‘ (RDK-V) drilling efforts in the Arizona sun are paid off with a 60% boost to the copper-molybdenum resource at its Copper Creek property near Tuscon.
The project comprises five near-surface breccia deposits and two deeper porphyry deposits. The breccia zones now host measured and indicated resources totalling 7.34 million tons of 1.48% copper, 0.017% molybdenum, 0.06 gram gold per ton, and 3.4 grams silver per ton. Inferred breccia resources add 2.27 million tons grading 1.35% copper, 0.025% moly, 0.2 gram gold, and 1.7 grams silver.
The two deeper deposits, called American Eagle and Keel, together hold 20 million indicated tons averaging 0.9% copper and 0.022% molybdenum as well as 156 million inferred tons grading 0.75% copper and 0.016% moly. The porphyry estimate used a 0.6% copper-equivalent cut-off, reflecting the potential economics of a bulk mining scenario, while the breccia estimate used a 0.75% copper-equivalent cut-off.
American Eagle and Keel remain open in most directions and several of the breccia deposits are open at depth. But importantly only some 20% of Redhawk’s property has been explored, including nearly 400 breccia outcrops that have not yet been drilled.
Redhawk initiated a scoping study for Copper Creek in May. Results are expected before the end of the year.
The 100%-owned, 12-sq. km property sits in a southwest-trending porphyry copper belt, 30 km from an operating copper smelter. Explorers and miners have been in the area since the early 1900s, focused primarily on outcropping deposits.
In the days following news of the resource estimate Redhawk’s share price gained 2 to close at 30. The company has a 52-week trading range of 26 to 68 and has 74 million shares issued.
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