Tickers: XTSX:WCC
Tags: Mining
Vancouver, BC / TheNewswire / August 14, 2017 - Consolidated Woodjam Copper Corp. ("Woodjam Copper") (TSX-V: WCC) has discovered a new zone of copper mineralization on its 100% owned Woodjam Copper-Gold property located at Horsefly, approximately 45 km northeast of Williams Lake, BC.
The new discovery on the northern extremity of the district scale 65,869 hectare Woodjam property is hosted in mafic volcanic rocks and consists of pervasively malachite stained basalts cut by east-west trending narrow quartz feldspar veins. A composite grab sample from one of these veins, varying in width from 10 cm to 20 cm, assayed 7.51% copper, 356.0 ppm (11.32 oz/ton) silver and 589 ppb gold. Two samples of malachite stained basalt outcropping 35 m and 185 m distant from the vein assayed respectively 1,989 and 2,168 ppm copper (without appreciable gold or silver). A total of five rock samples were collected. The exposure of the vein(s) is believed to have occurred as a result of a recent rock failure on the edge of a small canyon exposing mineralized rock in an area previously covered by till. The new area of interest has been named the Canyon Zone and is located approximately 9 km northwest of the Three Firs Zone which is the closest area of drilling completed on the Woodjam copper-gold property.
A 2017 exploration program utilizing induced polarization is planned for later in the season following the cessation forest fire risk.
Woodjam is located within the Quesnel Terrane, a large regional depositional belt that hosts several large tonnage porphyry deposits including New Gold's New Afton Mine, Imperial Metals' Mount Polley Mine, Teck Resources' Highland Valley Copper Mine, Taseko's Gibraltar Mine, Centerra Gold's Mt. Milligan Mine and AuRico Metals' Kemess Mine. Beginning in 1998 Woodjam Copper (and its predecessor companies) have discovered five (now six) areas of porphyry copper-gold mineralization on the property. Goldfields, a former joint venture partner on the project (2009 to 2015), completed NI43-101 compliant resources for the Southeast, Deerhorn and Takom zones and an internal non-compliant estimate on the Megabuck zone. The four zones currently contain an aggregate inferred resource of 277 million tonnes.
A summary of the three NI 43-101 compliant resource estimates, as stated in a news release dated May 15, 2013, is as follows:
Category | Tonnes (Mt) | Au (g/t) | Cu (%) | Au (1,000 oz.) | Cu (Million lb.) |
Southeast | |||||
Inferred | 227.5 | 0.06 | 0.31 | 391.1 | 1,541.9 |
Deerhorn | |||||
Inferred | 32.8 | 0.49 | 0.22 | 516.2 | 158.2 |
Takom | |||||
Inferred | 8.3 | 0.26 | 0.22 | 68.2 | 39.7 |
Note: These Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
J.W. Morton, P.Geo., a qualified person for the purposes of National Instrument 43-101, has read and taken responsibility for this news release.
J.W. Morton, P.Geo., President and CEO
Consolidated Woodjam Copper Corp.
Contact: (604) 681-7913 or Toll Free: 888-656-6611
Consolidated Woodjam Copper Corp. ("Woodjam Copper") (TSX-V: WCC) trades on the TSX-V exchange and currently owns a 100% interest in the Woodjam Project in British Columbia. Woodjam Copper purchased Gold Fields' 51% interest in mid-2015 and they remain a 19.9% shareholder in Woodjam Copper. From 2009 Gold Fields completed expenditures of approximately $25M. Previous expenditures by the Woodjam Copper partners were in the order of $5M. This work resulted in the discovery of three NI 43-101 compliant resources and the outlining of several additional exploration targets. Woodjam Copper is continuing to pursue new discoveries on the property. Visit the Company's website at: http://www.woodjamcopper.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Copyright (c) 2017 TheNewswire - All rights reserved.
