Business
ArcWest Announces $2.8 Million Todd Creek Copper-Gold Exploration Program, Funded by Freeport-McMoRan Mineral Properties Canada Inc.
Vancouver, British Columbia--(Newsfile Corp. - July 26, 2023) - ArcWest Exploration Inc. (TSXV: A...
About this update from Arcwest Exploration Inc.
[{"type":"text","content":"ArcWest Announces $2.8 Million Todd Creek Copper-Gold Exploration Program, Funded by Freeport-McMoRan Mineral Properties Canada Inc.Vancouver, British Columbia--(Newsfile Corp. - July 26, 2023) - ArcWest Exploration Inc. (TSXV: AWX) (\"ArcWest\") is pleased to announce 2023 exploration plans for its Todd Creek copper-gold (Cu-Au) project, located in BC's Golden Triangle. The program, with an approved expenditure of $2.8 million, will be funded by Freeport-McMoRan Mineral Properties Canada Inc. (\"Freeport\"), as per an earn-in agreement announced March 10, 2023. A map of Todd Creek mineral claims that are subject to the Freeport earn-in agreement is available for download here.ArcWest's 100% owned Todd Creek Cu-Au project adjoins Newcrest Mining's Brucejack mine property (Fig. 1).; in March 2022, Newcrest acquired Pretium Resources and its Brucejack mine in a transaction valued at CAD $3.5 billion. On May 14th, 2023, Newmont announced that it had entered into an agreement to acquire Newcrest in a $19 billion transaction, resulting in the creation of the world's largest gold miner.The Todd Creek project is also situated approximately 40 km southeast of Seabridge Gold's giant KSM-Iron Cap porphyry Cu-Au deposits and Tudor Gold's Treaty Creek Au-Ag-Cu project. Collectively, the KSM-Iron Cap and Treaty Creek deposits represent one of the largest Au-Cu concentrations in North America. Contained metal within Proven plus Probable Reserves at KSM-Iron Cap total 38.8 million ounces (oz) Au, 183 million oz Ag and 10.2 billion pounds of copper (www.seabridgegold.com). Tudor has released a measured plus indicated resource estimate for Treaty Creek totaling 17 million oz Au and 93 million oz Ag (www.tudor-gold.com). A technical presentation for the Todd Creek project is available for download here.Tyler Ruks, President and CEO of ArcWest commented, \"ArcWest looks forward to advancing our Todd Creek project with Freeport, one of the world's largest copper miners. Freeport's exploration team has a track record of global copper-gold discoveries that have proceeded to mine development. ArcWest's Todd Creek project is host to one of the largest underexplored copper-gold systems in BC's Golden Triangle, and Freeport's funding of the project is a testament to its potential for hosting a world class copper-gold deposit. In addition to a large mappi...