Collective Metals Inc. (the Company or Collective) announced the receipt of assay results stemming from its initial Rock Sampling Program (Program), which was conducted as part of the due diligence evaluation of the Princeton Copper Project (Project) in the spring of 2023.
The primary focus of the Program was the identification, examination, and, in most instances, sampling of exposures, roadcuts, caved trenches, or outcrops associated with previously identified copper mineral occurrences.
The majority of these occurrences were situated alongside logging roads and were accessible by truck. Furthermore, several traverses were executed to gain access to the historic copper mineral showings at Lamont Ridge–Wilmac and Trojan occurrences.
- Among the outcrop samples, three yielded copper grades ranging from 0.3% to 0.5%, with the highest-grade sample originating from the Trojan copper showing within the Trojan–Condor Corridor.
- During the 2023 program, 19 samples were collected, all of which had anomalous copper levels with assay results exceeding 100 ppm.
- Field observations and geochemical analysis of the 2023 findings substantiate the presence of altered diorites, a known host for copper mineralization at the Copper Mountain Mine.
- The Company’s 2023 field exploration program is advancing successfully, and it anticipates receiving the results from the reconnaissance soil sampling program in the upcoming weeks.
One of the difficulties hindering evaluation of copper mineralization on the Property is the lack of bedrock outcrops. Despite this, assay results from the minimal rock outcrops that are available in the Property are comparable to head grades of copper mines in British Columbia. We are very happy with these results that provide valuable insights into the geology of the Property.
Christopher Huggins, Chief Executive Officer, Collective Metals Inc.
Princeton Copper Project
The Company’s flagship Project enjoys convenient road access and sits just west of Highway 3, south of Princeton, BC. It is located in a long-established mining district with a robust infrastructure, a readily available local workforce, and supportive services.
This Project holds promise for discovering one (or more) copper-gold alkalic porphyry occurrences of a similar age and deposit type as the Copper Mountain Mine.
Furthermore, the Project is situated approximately 10 km to the west of Hudbay Minerals Inc.’s currently operational Copper Mountain Mine, which boasts a Proven and Probable Mineral Reserve containing 702 Mt of copper at a grade of 0.24%.