Vancouver – Recent drilling by Sherwood Copper (SWC-V) has returned greater than expected grades and thicknesses from the bornite-rich core of the Minto deposit in the Yukon Territory.
One hole returned 4.7 metres grading 7.9% copper, 5.03 grams gold and 91.5 grams silver per tonne, and 28.9 metres of 4.13% copper, 1.6 grams gold and 21.1 grams silver, which included 5.5 metres of 10.01% copper, 2.13 grams gold and 53.6 grams silver. Another returned 21 metres of 6.45% copper, 3.18 grams gold and 36.8 gram silver. The company notes that these results are better than expected, and could boost existing resources at Minto.
Sherwood recently completed an infill drilling program to better define gold grades in the northern third of the Minto deposit. Previous drilling in the remaining two-thirds of the deposit had returned higher gold values than were suggested from drilling campaigns carried out by previous operators since the 1970s, in part because of a lack of gold assays and under-reporting of gold grades from the historic drilling.
The first five holes drilled to provide additional gold assay data in the northern portion of the deposit returned encouraging results. Selected results include: 34.4 metres of 2.93% copper, 0.63 gram gold and 10.9 grams silver, which includes 14.9 meters of 5.78% copper, 1.11 grams gold and 21.1 grams silver; 55.4 metres of 1.62% copper, 0.38 gram gold and 5.3 grams silver, including 22.5 metres of 2.19% copper, 0.47 gram gold and 6.8 grams silver; and 21.3 metres of 4.45% copper, 1.35 grams gold and 17.8 grams silver, including 11.7 metres of 6.1% copper, 1.27 grams gold and 19.8 grams silver.
Assays are pending for 16 additional holes. Results from the infill drilling campaigns will be used for an updated resource model that will form part of a feasibility study scheduled for completion this year.
At last report, the Minto project hosted measured and indicated resources totaling 8.5 million tonnes grading 1.81% copper, 0.57 grams gold and 7.6 grams silver per tonne. This estimate was based on 212 holes drilled by Sherwood and previous operators that tried to bring the deposit into production during the 1990s. About $10 million was spent on infrastructure and development before construction was suspended because of low metal prices.
Sherwood recently retained Kelowna-based JDS Energy and Mining to handle engineering, procurement and construction management of the project, and Edmonton-based Clark Builders as its general contractor. The company is proposing to develop an open-pit mine at Minto that would make use of existing infrastructure, including roads, camp facilities and mill foundations for newly purchased milling equipment.
Be the first to comment on "Sherwood tests high-grade core at Minto"