Great Lakes Minerals (TSE) has just received the best assays yet from their copper project on the Keeweenaw Peninsula in northern Michigan. Hole 9, drilled on the 543-S deposit, intersected 41.7 ft. grading 6% copper, including a 12.2-ft. section grading 10.9% copper. About 200 ft. further east, hole 7 hit 16 ft. grading 5.8% copper.
As a result of its success in outlining several high-grade zones within the previously outlined tonnage, Great Lakes and its partner, Michigan Mining and Manufacturing, have decided to proceed to the prefeasibility stage at 543-S.
The program will incorporate preliminary mine engineering, capital cost estimates, a minable reserve estimate and financial analysis. The partners have already started the permitting process for a mining facility.
The 543-S deposit is estimated to contain probable reserves of 3 million tons grading 2.9% copper, including a high-grade core of 1.3 million tons grading 4% copper.
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