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Initial Drilling Begins at Carube Copper's Above Rocks Joint Venture
OTTAWA, ON / ACCESSWIRE / May 18, 2016 / Carube Copper Corp. (TSXV: CUC) announces that its ...
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[{"type":"text","content":"Initial Drilling Begins at Carube Copper's Above Rocks Joint VentureOTTAWA, ON / ACCESSWIRE / May 18, 2016 / Carube Copper Corp. (TSXV: CUC) announces that its joint venture partner OZ Minerals Limited has deployed a diamond drill rig to the 104 square kilometre Above Rocks Joint Venture (ARJV) in Jamaica, initiating drilling at a high-priority copper-gold target at the Jobs Hill Prospect. This drilling is part of the ARJV's Phase One exploration program, which will enable OZ Minerals to earn 40% of the project by sole funding $500,000 in exploration expenses. \nJeff Ackert, President and CEO of Carube Copper notes: \"With this drill rig being deployed at Above Rocks and a second drill rig currently working at the Bellas Gate Joint Venture, Carube Copper will have a steady stream of news out of Jamaica in the coming months. We are excited to get the drill turning at Above Rocks, where our highly prospective priority areas have yet to be explored using modern exploration techniques.\"\nThe ARJV has identified five high priority target areas that will be the focus of initial exploration by the joint venture. These include Jobs Hill and Sue River where porphyry style mineralization has been noted. For more details, see Carube Copper's Press Release dated February 26, 2016. Three drill holes, totaling 450m are planned at Jobs Hill and Sue River. Drilling at the three other high-priority targets areas will be determined after more ground work is completed. \nThe Jobs Hill Prospect has extensive copper oxide showings and numerous exposures of malachite with good gold credits. The target, hosted in a northeast trending structural zone, is at least 600m long and 45m wide and is open to the southwest. Several local occurrences suggest that bornite is a significant component of the primary mineralization. \nHistoric Jobs Hill values of 1.44% Cu over 16.4m and 1.86% Cu over 15.6m were recorded from 1950s and 60s trenches(1) and six historic holes from the 1950s with very poor recovery returned grades from 0.1 - 2.25% Cu(2). Grab and channel samples in 2012 yielded 1.0 to 13.9% Cu(3) and a number of grab samples from 1987(4) and 2012(3) yielded a number of Au assays between 0.147 and 0.890g Au/t. Most recently, surface sampling at Jobs Hill by OZ Minerals returned values over 1.00% Cu in seven of twelve samples, with the highest at 9.12% Cu...