Mining News: News Nuggets: Arctic drilling recaps high-grade deposit

NovaCopper Inc. Oct. 21 reported that drillers cut zones of high-grade mineralization in all 14 holes drilled during its 2015 summer field program at the Arctic volcanogenic massive sulfide deposit in Northwest Alaska. The Arctic project is part of the Upper Kobuk Mineral Projects located in the Ambler mining district. Highlights from the 2015 program include: AR15-0145, which intersected four mineralized intervals – 22 meters of 3.86 percent copper, 0.86 grams per metric ton gold, 71 g/t silver, 1.15 percent lead and 5.36 percent zinc; five meters of 3.82 percent copper, 0.68 g/t gold, 74.7 g/t silver, 1.6 percent lead and 7.21 percent zinc; and 6.5 meters of 6.67 percent copper, 0.52 g/t gold, 31.4 g/t silver, 0.2 percent lead and 3.38 percent zinc; AR15-0136, which cut two mineralized intervals – 32 meters of 3.08 percent copper, 1.56 g/t gold, 45.9 g/t silver, 0.18 percent lead and 2.72 percent zinc; and nine meters of 7.36 percent copper, 2.34 g/t gold, 219.3 g/t silver, 0.77 percent lead, and 5 percent zinc; and AR15-0144, which cut three mineralized intervals, including 11 meters of 7.1 percent copper, 0.7 g/t gold, 80.4 g/t silver, 1.09 percent lead and 9.04 percent zinc; and nine meters of 4.22 percent copper, 0.75 g/t gold, 76.7 g/t silver, 0.82 percent lead and 3.46 percent zinc. These results are consistent with 135 previously drilled holes that support 23.8 million metric tons of indicated resources grading 3.26 percent copper, 0.71 g/t gold, 53.2 g/t silver, 0.76 percent lead and 4.45 percent zinc; and 3.4 million tons of inferred resources grading 3.22 percent copper, 0.59 g/t gold, 41.5 g/t silver, 0.58 percent lead and 3.84 percent zinc. The 2015 in-fill drill program was designed to evaluate vertical and lateral continuity of the high-grade polymetallic mineralization, and support upgrading of inferred resources to measured and indicated resource classification within the area of the proposed Arctic open-pit. Two of the 14 holes – AR15-0139 and AR15-0145 – were specifically targeting geotechnical information for preliminary pit slope design work in the area of the high wall of the proposed open pit. The results from the 3,056 meters of drilling completed this year, along with ongoing engineering studies, will be used in support of a pre-feasibility study on the Arctic deposit.

- Shane Lasley