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Copperbank Plans Summer Drill Program for Pyramid Copper Project
VANCOUVER, BC / ACCESSWIRE / June 5, 2017 / CopperBank Resources Corp. ("CopperBank") (CSE: ...
About this update from Faraday Copper Corp
[{"type":"text","content":"Copperbank Plans Summer Drill Program for Pyramid Copper ProjectVANCOUVER, BC / ACCESSWIRE / June 5, 2017 / CopperBank Resources Corp. (\"CopperBank\") (CSE: CBK) is pleased to announce that the Company has established a diamond drilling program on its 100% controlled Pyramid project located on Aleut Native Corporation lands, on the Alaska Peninsula. The program is now well funded following the private placement announced earlier in May. The Pyramid project covers 38,376 hectares of which only 291 hectares have been drill tested and contains a NI 43-101 inferred resource estimate of 122 Million Tonnes @ 0.41% copper, 0.1 g/t gold and 0.021% molybdenum (0.574% CuEq) (SRK, 2013). The Company is not treating the historical estimate as current mineral resources. The mineralized zone displays potassic and phyllic alteration and numerous quartz stockworks distinctive of copper porphyry systems of the Circum Pacific Belt.\nThe planned drilling program will comprise a minimum of 1,500 meters, with the potential to expand drilling with successful results. Focus will be in areas of higher grade such as in the Main Zone around 11PY016 which returned 155 meters of 0.71% copper, 0.18 g/t gold and 0.018% molybdenum (0.97% Cu Eq.) starting at 94 metres, and bottoming in 34 meters of 0.844% copper and 12PY019 with 70 meters at 0.717% copper and 0.1 g/t gold from 22 meters including 42 m at 1% copper and 0.16 g/t gold from 24 meters to 66 meters. The North Zone will also be further tested to verify the lateral extensions of the known mineralization particularly around 11PY007 which intersected 0.56% copper and 0.13 g/t gold over 104 meters starting from 6.0 meters. CopperBank, through this program, wants to understand the distribution and the controls of the mineralization, and verify the continuity of higher grade zones, particularly with overlap between supergene chalcocite mineralization hypogene chalcopyrite mineralization. \nGianni Kovacevic, Executive Chairman of the Company comments, \"This long anticipated drilling program will give our technical team the direction for next steps in the development of the project, and specifically a better view of the higher grade sections of the deposit. The superior location and ownership structure further demonstrate that Pyramid is one of only a handful of established copper projects that is located ...