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Abacus Mining & Exploration Announces Drilling at Willow Property, Nevada
VANCOUVER, British Columbia, June 01, 2021 (GLOBE NEWSWIRE) -- Abacus Mining & Exploration Corporation (“Abacus” or the “Company”) (TSXV: AME) is pleased to ann
About this update from Abacus Mining & Exploration Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, June 01, 2021 (GLOBE NEWSWIRE) -- Abacus Mining & Exploration Corporation (“Abacus” or the “Company”) (TSXV: AME) is pleased to announce that a diamond drilling program is about to commence on its Willow porphyry copper property in the Yerington copper camp, southeast of Reno, Nevada. The Company plans to drill four vertical holes, each to a depth of 600 metres. The holes will be approximate 200-300 metre step outs from past drilling by the Company in 2018. Based on work done by Abacus the target is at least 1.5 km by 1.5 km in size, the Willow porphyry remains essentially untested, and the porphyry center has not yet been identified. The Yerington camp contains four known porphyry copper-molybdenum (Cu-Mo) deposits, and Abacus’s work points to the existence of a fifth porphyry on Willow, the first major discovery in the camp in over 40 years. All four known copper porphyries are associated with a particular intrusive rock known as the Luhr Hill Granite. Abacus completed geological, geochemical and geophysical work on Willow beginning in 2017 and then undertook a short core drilling program. This drilling identified the Luhr Hill Granite on Willow with copper values in the 0.1% to 0.2% Cu range along with elevated Mo. This was a key new discovery, as there are no known instances of this granite in the camp without an associated porphyry. The Molybdenum values are a particularly strong indicator that you are close to a porphyry copper center. The drilling also intersected porphyry dykes and “early halo” quartz veins associated with the Luhr Hill Granite. The early halo quartz veins are significant, as they are found in other porphyry copper deposits in the camp and are also associated with economic porphyry copper deposits worldwide. The 2018 drill program was designed to test a very small portion of an extensive zone of intense silicic and advanced argillic alteration, marked by coincident geological, geochemical and geophysical signatures typical of a porphyry copper or Cu-Mo deposit. Porphyry copper systems are large in extent, and geochemistry collected from the drilling indicates that a likely porphyry center occurs north of the area initially drilled. The Company’s target is essentially identical to the two largest porphyry deposits in the Yerington camp, namely the past-producing Yerington...