Drill Results From Bootleg Lake Project
VANCOUVER, BC - Canyon Copper Corp. reported drill results of the first two diamond drill holes completed on Canyon’s Bootleg Lake project, located near Creighton, Saskatchewan, Canada, five kilometers southwest of the city of Flin Flon, Manitoba. Drill holes BL-01 and BL-02 are the first two holes of the 1,446 meter, 4 diamond drill hole program completed on the Bootleg property during February and March 2018. These drill holes targeted the past producing Rio Gold Mine which is characterized as Mesothermal gold mineralization along the Rio Fault corridor, particularly in close proximity to the granodioritic Phantom Lake pluton immediately to the south. The drilling targeted the intersection of two sections of the NE-SW trending Rio fault corridor and the N-S trending Douglas Lake fault.
Stephen Wallace, President and CEO said, “This is Canyon Copper’s first drill program at the Rio Mine. The results show good grades over mineable widths and the first step to determining a new mine. In addition, a wealth of technical data has been collected relating to the complex geological structures and intrusions that are part of the deposit.”
Drill hole BL-01 was drilled at a 45-degree dip with a total length of 327m. This drill hole intersected two zones of gold mineralization. Zone1 is 4.0m from 180.0m to 184.0m downhole grading 5.24 g/t Au, including a higher-grade section from 181.0m to 181.5m grading 12.24 g/t Au. A second wider zone of 19.0m from 213.0m to 232.0m downhole graded 2.09 g/t Au including an 8.0m section from 216.0m to 224.0m grading 3.23 g/t Au. The zones of mineralization are characterized as a brecciated rhyolite with 1% to 10% pyrite.
BL-02 was drilled from the same drill setup as BL-01, at 60 degrees dip with a total depth of 369m. There is evidence of faulting throughout most of this drill hole, plus granodiorite zones not seen in the first drill hole. This is a significant change from BL-01 given the proximately of the two drill holes. There is information from past work of granodiorite bodies within the Rio Mine and this appears to be related to this drill hole.
A five meter zone of mineralization, which appears to be related to Zone 1 in BL-01 is found between 222.0m to 227.0m downhole grading 2.45 g/t Au. Within this zone there is a 2.0m section grading 3.84 g/t Au.
Based on these results the company plans additional drill core studies to understand geological structures and granodiorite intrusions logged in the drill holes including detailed structural directional analysis and down hole surveys. Additional surface exploration, trenching, mapping and geophysics based on past data and drill hole information will be planned for summer 2018. The information from this drilling program and surface work will form the basis for future drilling.
February 2018, Canyon was granted a Surface Exploration Permit by the Saskatchewan Ministry of the Environment, and in the second half of February began drilling at the Rio and Newcor target areas. This drill program was completed in March 2018 with 4 NQ diamond drill holes completed, totaling 1,446 meters. Three drill holes were completed at the Rio (Bootleg) target and one at the Newcor target.
The exploration plan was to drill two high priority targets on the Bootleg Lake project, the past producing Newcor and Rio gold mines. The exploration strategy is to test historical data, expand the zones of known mineralization and obtain precise geological and structural information. At both targets the plan was to test potential at depth extension of the known working which had reached a maximum depth of 120 to 130 meters during mining in the 1940’s and 1980’s.
At the past producing Rio mine site, three diamond drill holes totaling 993m were completed from two drill sites. The drill holes were planned to intersect the Rio fault and zone of mineralization at a depth of between 175m and 250m below surface. At Newcor a single drill hole of 453m was completed as the program was modified due to ice conditions. The change in program resulted in a single longer drill hole.