Resolve Ventures Inc. ("Resolve" or the "Company") (TSX VENTURE:RSV) is pleased to announce that it has acquired a 100% interest in the Connell Mountain copper porphyry prospect, located in New Brunswick, Canada. Terms of the acquisition of 100% interest in the title covering the prospect are 3.5 million shares upon TSX approval.
The Company is also reviewing ground acquisition in the Windfall Lake area.
The Connell Mountain Property covers a historical copper porphyry occurrence known as the Connell Mountain occurrence (aka Lockart Anomaly 1; Reference #232). (1) The Property has been subject to extensive exploration from 1968 to 1997, identifying nine discrete copper anomalies. Two of these anomalies have been the primary focus of historical exploration.
Historical work on the Property has included diamond and percussion drilling, stripping, soil sampling, geological mapping, outcrop sampling, and geophysics, including magnetometer and induced polarization surveys.
Most exploration on the Connell Mountain was conducted from 1969 to 1971 by Falconbridge Nickel Mines Ltd. This work was outlined in seven reports, including diamond drilling, stripping, geological mapping, outcrop sampling, and geophysics, including magnetometer and induced polarization surveys. (2)
This work was followed up in 1974 by reconnaissance soil sampling and soil geochemistry surveys, successfully extending the mineralized zone identified at Anomaly 1, which was later renamed the Heather Zone. (3)
In 1974, Bethlehem Copper drilled 39 percussion holes, including 25 holes on Anomaly 1 (Heather Zone), 10 holes on Anomaly 1A and 4 holes on Anomaly 2. The most promising zone was identified as Anomaly 1, with mineralization reported to measure 150 by 300 metres with at least 0.10% Cu, as well as zones up to 90 by 90 metres with values greater than 0.25% Cu. (4) *
Based on historical trenching and drilling, a resource estimate reported in 1987 in a publication by the Geological Survey of Canada calculated approximately 21,000,000 short tons of protore grading 0.18% Cu and 1,000,000 short tons of supergene ore grading 0.04 to 0.70% Cu. (5) *
* A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the issuer is not treating the historical estimate as current mineral resources or reserves. Further work must be carried out to verify all historic information before a resource estimate is possible. The historical estimates uses categories other than those required by the CIM and National Instrument 43-101.
The technical contents of this release were approved by Case Lewis, P.Geo., a Qualified Person as defined by National Instrument 43-101. The property has not yet been the subject of a National Instrument 43-101 report.
- New Brunswick Energy and Mines database (2017). Connell Mountain / Lockart Anomaly 1 (Reference #232).
- New Brunswick Energy and Mines database (1969-1971). Falconbridge Nickel Mines Ltd (Reports 470231-470237).
- New Brunswick Energy and Mines website database (1974). Lockhart (Report 470244, 1974).
- New Brunswick Energy and Mines website database (1974). Bethlehem Copper (Report 470228).
- Thomas, R.D., Gleeson, C.F. (1989). Metallogeny of the Woodstock area, New Brunswick. GSC Paper 87-1A, p 492-494.