Allied Copper Corp. is happy to report that the necessary licenses have been obtained to commence the 2022 drilling at the Klondike Property in southwestern Colorado, United States. The Klondike Property includes 76 unpatented mining claims, a State of Colorado Exploration Permit, and the sole right to a State lease.
Klondike Geology and Copper Results Map. Image Credit: Allied Copper Corporation
We are very excited to commence the 2022 program at Klondike. Our previous mapping and sampling work, in conjunction with the recently completed magnetics survey, results of which will be published shortly, have identified a number of compelling targets for drill testing.
Warner Uhl, Chairman, Allied Copper Corp.
Uhl added, “Over the June quarter we have progressed our targeting initiatives whilst being cognizant of our treasury and are pleased to be in a position where we are fully funded through this program.”
The company is completing bond placement for the program to begin on or around July 15th, 2022. The program’s planning and logistics are well underway, and the drill plan will be revealed after details are confirmed prior to the program’s start-up.
About The Klondike Property
The Klondike Property is about 25 km south of Naturita, Colorado. This site is located in the Paradox Copper Belt, which contains the active Lisbon Valley Mining Complex. Many historical copper deposits have been recognized across the district, although many have not been studied using current exploration techniques.
The Klondike property had a 2021 reconnaissance program that included mapping, stream sediment monitoring, and rock sampling to determine drill targets along the West Graben Fault and East Graben Fault targets.
The Northeast Fault was discovered after the rock sampling and mapping effectively increased the footprint of both objectives. A 4.6 m chip sample of bleached, bitumen-spotted, and altered Jurassic sandstones from the Morrison Formation’s Saltwash component yielded 1.56% copper and 1.4 grams per ton (“g/t”) silver.
Copper mineralized sandstones can be tracked along the Northeast Fault target and offshore from it into neighboring sandstones across an area 200 m long × 100 m wide before being covered by gravel cover.
Over one kilometre to the northwest where the structure and host strata next appear from beneath the same gravel cover, further anomalous copper was discovered, including 2.1 m of 463 ppm copper.
Documented copper exploration in Klondike halted in the 1960s, with later uranium research beginning in the 1970s. Previous workers found high-grade copper mineralization, with outcrop containing 6.3% copper and 23.3 g/t silver.
Aside from its high-grade potential, scattered copper-silver mineralization has been discovered, that could be suited for modern open pit mining with Solvent Extraction Electrowinning (“SXEW”) processing, comparable to the Lisbon Valley Mining Complex.
Sedimentary hosted copper deposits contribute significantly to global copper output, accounting for more than 20% of global copper supply on an annual basis.
The project is road-accessible all year round, with a two-kilometer gravel road leading off the paved roadway. The project consists of 76 mining claims on BLM-managed federal mineral rights, as well as an Exploration Permit with an exclusive right to a State lease from the State of Colorado.