Jul 15 2020
Copperstone Resources AB has engaged a leading Arctic Drilling Company (ADC) as the drilling contractor for the Viscaria Copper Project for the remainder of 2020. The company has also signed a drilling contract with Kati Oy (Kati).
The Kati contract includes the previously concluded ~8000 m, with the aim of increasing to a total of 22,000 m over a period of 24 months.
Based on our impressive results from the 7,945 meters of core drillings at Viscaria, we are pleased to have secured additional funds and drill capacity in order to take another significant step towards the Viscaria mine re-opening. The mineral resource upgrade will be one of the important milestones for the feasibility study and, in turn, the documentation for the Technical description included in the Environmental Permit application.
Michael Mattsson, CEO, Copperstone Resources AB
At the A/B zones, the infill and reserve drillings will be a significant input to the practical study following the Mineral Resource Inventory upgrade, and therefore, this work stream along with increased environmental documentation is now highly prioritized.
It is believed that Copperstone Resources will mobilize with ADC in early August and then with Kati in August or September.
Strategic Goals with the Next Phases of Core Drillings
During the next stage of core drilling, the focus will shift from providing growth from the extended exploration to providing a strong and reliable mine project for the feasibility study and also for the technical description of the environmental permit application.
The initial part of the drilling program will target shallow drilling on zones A and B with the aim to boost the confidence inside the planned pit resources. The program will also target conversion drilling of shallow depth inferred resources with a possible upgrade of confidence classification. Moreover, further mineralization in the D-zone will also be targeted.
When it comes to both mining and exploration, Copperstone Resources is dedicated to sustainable practices. Copper (Cu) happens to be a green metal, and therefore, Copperstone Resources is aiming to use green technology wherever possible.
Key Highlights from Phase One of Copperstone’s Core Drilling Campaign at Viscaria
Five shallow boreholes—VDD0201, VDD0202, VDD0203, VDD0204, and VDD0209—totaled 615 m. Intersections comprise the VDD0203 borehole that yielded 20 m at 1.27% Cu, such as 5 m at 2.99% Cu. The VDD0204 borehole yielded 18 m at 1.18% Cu, such as 3 m at 3.28% Cu.
It was concluded that the footwall of the A zone could probably be added to the shallow resources. Considerable potential for gold and cobalt (Co) was verified.
The VDD0208 borehole yielded 5 m at 0.43% Cu, including 17 m at 0.66% Cu and 0.07% Co. It was concluded that the B zone has not been fully explored and represents a highly possible target of identifying more copper mineralization (SW) at depth; similarity with A- and D-zones.
D Zone North Shoot
Eight boreholes—VDD0205, VDD0207, VDD0210, VDD0211, VDD0212, VDD0213, VDD0214, and VDD0215—totaled 6,023 m. All the boreholes intercepted copper mineralization hosted in ironstone, demonstrating the vertical extension of 810 m from the surface, and up to 200 m along strike and 250 m below the current mineral resources.
The VDD0210 borehole sectioned 88.1 m at 1.1% Cu, including 16.5 m at 2.3% Cu, and the VDD0213 borehole intersected 4.6 m at 5.3% Cu including 0.6 m at 20.1% Cu. It was concluded that these boreholes have an excellent prospect for new resources to inventory.
D Zone South Shoot
The VDD0206 borehole returned 3 m at 1.42% Cu. Conclusion: Copperstone Resources has verified the possible extension of the mineralization up to 600 m vertical extent from the surface and 300 m below the envelope of the current mineral resource. All intercepts have been reported as “along the hole,” and no estimation of actual widths has been made.