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Canadian Copper Announces New Mineral Resource Estimate at Murray Brook: +21 Million Tonnes Containing +670 Million In-Situ Pounds Copper Equivalent
Measured and Indicated Sulphide Resource Increases by 18% Toronto, Ontario--(Newsfile Corp. - Oc...
About this update from Canadian Copper, Inc.
[{"type":"text","content":"Canadian Copper Announces New Mineral Resource Estimate at Murray Brook: +21 Million Tonnes Containing +670 Million In-Situ Pounds Copper EquivalentMeasured and Indicated Sulphide Resource Increases by 18%Toronto, Ontario--(Newsfile Corp. - October 3, 2023) - Canadian Copper Inc. (CSE: CCI) (\"Canadian Copper\" or the \"Company\") is pleased to announce a new Mineral Resource Estimate (\"MRE\" or \"Mineral Resource\") for the Murray Brook Project (\"Murray Brook\") located in New Brunswick, Canada.\"The pending 100% acquisition of an advanced stage, large, and high quality base metal deposit in a safe jurisdiction is rare. Murray Brook has several key attributes: the deposit topography is conducive to surface development, its sulphide Mineral Resource is more than 98% M&I, with an NSR value of C$115/tonne1 mineralized material. With an open pit Mineral Resource of more than 21 million tonnes and situated less than 10 km from a fully operational process plant, this deposit could be supplying the critical minerals Canada needs much faster than most domestic development projects.\" Simon Quick, CEO of Canadian Copper. Sulphide Mineral Resource Estimate HighlightsMeasured: 15.8 million tonnes (\"Mt\") grading 2.60% Zn, 0.43% Cu, 0.92% Pb, 0.52 g/t Au, and 39.0 g/t Ag (1.42% CuEq or 8.65% ZnEq).Indicated: 5.3 million tonnes (\"Mt\") grading of 2.14% Zn, 0.52% Cu, 0.85% Pb, 0.67 g/t Au, and 37.3 g/t Ag (1.41% CuEq or 8.58% ZnEq).Next Steps for the Murray Brook ProjectThe Company has designed a 12-hole, 3,000 metre drill program to determine the extent of a new copper and gold zone (MB19-01: 1.35% Cu, 19 gpt Ag, 0.18 gpt Au over 26 metres) defined by twelve of the 2017 to 2019 drill holes, which are an approximate 50-metre step-out to previous drilling.Review process options to potentially recover the 400,000 gold ounce Mineral Resource that exists within the oxide and sulphide MRE. Presently, 0% recovery is attributed for gold. Initiate an updated Preliminary Economic Assessment (\"PEA\") to include several critical trade-off studies. For example, the open pit Murray Brook Deposit is high grade (1.42% CuEq or 8.65% ZnEq) and conducive to low capital cost toll processing within the Bathurst region (Figure A). A toll milling development scenario will improve permitting timelines and reduce project execution risk. Commence regio...