Mining News: News Nuggets: Coventry advances northeast expansion of Caribou Dome

Coventry Resources Ltd. Aug. 17 provided an update on its exploration of the high-grade Caribou Dome copper project in Southcentral Alaska. The company said mechanical issues it experienced with one of the two drills on site have been resolved, and nine holes were completed for 3,934 meters. This includes four holes drilled since the end of July that all cut copper mineralization. Coventry is very encouraged by two zones of copper-rich massive sulfide mineralization cut in hole CD16-009, including one zone roughly four meters thick. The rigs are now drilling 50 meters and 80 meters northeast of CD16-009 to further evaluate the mineralization in this area. CD16 008, which was drilled to test a potential northeast extension of Lense 4 in the main Caribou Dome deposit area, cut roughly four meters of copper-rich massive sulfides at target depth. During 2015, Coventry completed an induced polarization survey across 1,500 meters of strike, centered on the Caribou Dome deposit. Drilling of strong IP anomalies resulting from this survey led directly to the discovery of additional thick, high-grade copper mineralization, including the mineralization cut in CD16-009. Additional surveys flown this year have been extending the IP coverage. The company has now received preliminary data that includes a contiguous block of new data over the deposit as well as 4,000 meters along strike to the northeast. Numerous priority targets have been delineated in the new IP data, including the newly defined Kopis anomaly (formerly referred to as Menel Trend) and the Trojan anomaly further northeast, each of which cover 1,100-meters of strike. The company has received results from roughly 800 soil samples collected over a more than 5,000-meter-long prospect area in the far northeastern side of the property. These samples returned assays of up to 0.17 percent copper from this prospect known as Senator, which is about 6.8 miles (11 kilometers) northeast of the Caribou Dome deposit. Select rock chip samples from outcrops in the area have returned up to 12.1 percent copper. Coventry has staked 26 claims to extend coverage over the new prospective region and follow-up work is being planned.

-Shane Lasley