Granite Creek 2022 field season starts

Granite Creek Copper Ltd. June 7 announced the start of its 2022 field exploration campaign at the high-grade Carmacks copper-gold-silver project in Canada's Yukon.

According to the most recent calculation, Carmacks hosts 36.2 million metric tons of measured and indicated resource averaging 0.81% (651 million pounds) copper, 0.26 grams per metric ton (302,000 ounces) gold, 3.23 g/t (3.8 million oz) silver, and 0.011% (8.5 million lb) molybdenum.

The first phase of the 2022 program will consist of a high-resolution, deep-penetrating induced polarization geophysical survey, which Simcoe Geophysics has already begun. The wireless Alpha IP survey system is purportedly capable of resolving targets at depths in excess of 500 meters and will be employed to locate vertical and horizontal extensions of the three main mineralized areas of the Carmacks deposit, as well as identify subparallel zones.

"We are very pleased to have Simcoe Geophysics returning to the property after their successful 2021 campaign at our Carmacks North target where over 20 new targets were identified that we will be following up on this year," said Granite Creek President and CEO Timothy Johnson. "That there are still significant areas in and around the Carmacks deposit that our geological team have identified as having potential to host further mineralization is a testament to the prospectivity of the Minto Copper belt."

Previous IP surveys were highly effective at identifying near-surface structures hosting copper oxide mineralization but with an effective penetration of fewer than 250 meters, leaving significant potential below that level.

Most recently, comparisons of 2021 drill data with these historical IP surveys suggest that it strongly reinforces their value in generating and refining drill targets – concurrent review of historical data has also identified several areas in and around the Carmacks deposit that are top targets for their potential to host additional mineralization.

For the latest IP survey, Granite Creek has designated three priority areas:

• Gap target area – the area between Zone 2000S and zones 1, 4, and 7 has not been sufficiently evaluated for potential mineralization. In addition, Granite Creek has recognized faulting in the area that may have offset mineralization, and the IP survey will assist in detecting offsets to better target future drill holes. The success of the 2021 drill campaign to expand and upgrade resources in Zone 2000S has made this zone a priority.

• Extension target area – zones 1, 4, and 7 are abruptly cut off on the northern end, where a thick layer of overburden restricts surface exploration. This area will be surveyed to detect down dropped or laterally offset blocks of the mineralization that may be located under the thick cover.

• 1213 target area – the conceptual pit in the southern part of Zone 1213 only extends to 130 meters below surface because drilling has not fully tested the depth of mineralization in this area. Surveying in this area will further define the down-dip potential of the zone.

"We look forward to updating the investing community as we receive results from this survey as well as on progress of the preliminary economic assessment update," finished Johnson.