The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
GT Gold considers PEA, eyes new copper-gold-silver targets North of 60 Mining News – July 10, 2020
A drill tests the Saddle North porphyry copper-gold-silver deposit on GT Gold's Tatogga property in northwestern BC.
GT Gold Corp. July 6 released a maiden mineral resource estimate for the Saddle North porphyry copper-gold-silver deposit on the company's Tatogga property in British Columbia's Golden Triangle.
Based on 41 holes of drilling completed since late in 2017, Saddle North hosts 298 million metric tons of indicated resource averaging 0.28% (1.81 billion pounds) copper, 0.36 grams per metric ton (3.47 million ounces) gold, and 0.8 g/t (7.58 million oz) silver; plus 543 million metric tons of inferred resource averaging 0.25% (2.98 billion lb) copper, 0.31 g/t (5.46 million oz) gold, and 0.7 g/t (11.64 million oz) silver.
"The company is pleased to announce another major milestone with the maiden mineral resource estimate for the Saddle North project," said GT Gold President and CEO Paul Harbidge. "We are proud of the value generated for our shareholders, especially considering this is one of the most recently discovered gold-copper porphyry world-wide, with the first borehole drilled as recently as late 2017."
These resources are amenable to open pit and bulk underground mining methods.
Prior to the resource calculation, GT Gold relogged 31,401 meters of core from its drilling at Saddle in order to build a geological model of the porphyry deposit.
"The importance of having a geological model and a high quality of underlying data to more accurately segregate and estimate these resources will only play a stronger role as we move into our PEA work ahead," said Harbidge.
After postponing the start of its 2020 exploration program due to COVID-19, the company begin mobilizing crews and equipment in late June. The company said all field work will be conducted in compliance with its robust COVID-19 prevention plan and in accordance with provincial regulatory requirements and guidance provided by the Tahltan Nation COVID-19 emergency management team.
This year's exploration at Tatogga is initially focusing on drill testing new exploration targets at Quash Pass, a promising copper-gold-silver target about seven kilometers (4.3 miles) southwest of Saddle North.
Airborne and ground geophysics, mapping, soil geochemical sampling and prospecting have identified two large-scale anomalous trends and several adjacent individual targets at Quash Pass.
"Entering the 2020 field season, we look forward to testing prospective greenfield targets in the Quash Pass area at Tatogga, in a region which is now beginning to show the signs of a newly emerging porphyry district in northern British Columbia," Harbidge said.
CORRECTION: This article has been updated on July 20 to correctly state the amount of copper contained in the indicated resource category to 1.81 billion pounds and copper contained in the inferred resource category to 2.98 billion lb. The previous version reported both copper amounts in millions of pounds. North of 60 Mining News apologizes for any confusion caused.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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