Copper Road Resources announces summer drill program – Richard Mills

2023.06.26

Copper Road Resources (TSXV:CRD) has prioritized drill targets at the JR Zone of its district-scale Copper Road project in Batchewana Bay, Ontario, which it plans to explore this summer.

Th 21,000 hectare property, 80 km north of Sault St. Marie, has a proven history of copper production containing two former mines: Tribag, which produced 1.2 million tonnes grading 1.52% Cu, and Coppercorp, with historical production of 1 million tonnes @ 1.16% Cu.

The JR Zone consists of the Richards breccia, a near-surface copper target, and the Jogran surface porphyry, which has been drilled to a depth of 200m. The two targets are located 900m apart.

The company’s plan is to expand this surface exploration and drill-test the JR Zone to establish a second large-scale mineralized zone, beyond the Tribag Mine Zone, which it drilled in 2022 (3,000m in eight holes).

Due to fragmented claims ownership and regional staking closures, the JR Zone has only seen limited diamond drilling into these near-surface porphyry and breccia-hosted Cu-Mo-Au-Ag targets.

Historical exploration by Jogran Mines (1964), Phelps Dodge (1966), Duration Mines (1988) and Aurogin Resources (1997) encountered relatively broad, near-surface intersections of copper mineralization that is still untested below 150m in the porphyry, and below 75m in the breccia. Many of the historical holes were not completely assayed, nor were most holes assayed for possible byproduct credits such as gold, silver, tungsten or rhenium.

In the fall of 2022, the company completed three reconnaissance Mobile Metal Ion (MMI) soil sample lines over the JR Zone to evaluate the potential for an expanded footprint of the mineralized system in areas outside of known mineralization.

All three lines returned strongly anomalous copper and molybdenum (as well as tungsten and silver) and localized gold over the known occurrences, confirming limited drilling and trenching, but also extending the anomalies for hundreds of meters in most directions in both Cu and Mo, and discovering new Cu anomalies.

This, as Copper Road says, indicates the potential for a much larger footprint of the known mineralization, which at this point extends as much as 1.5 km along strike and up to 550m wide.

Fasting forward to this year, the company plans to drill-test the following targets at the JR Zone:

• Hole J-P-23-01 will test the Jogran porphyry, close to two historical diamond drill holes from 1964. The hole will be designed to test the porphyry mineralization to a vertical depth of 400m, which is approximately twice the extent of known mineralization.
  
• Hole J-P-23-02 will test an area of mid-grade copper mineralization in historical hole JDH-07, which intercepted 14.6m of 0.50% Cu from 126.8 to 141.4m, 11.5m of 0.34% Cu from 184 to 195m, and bottomed in quartz stringers with clusters of chalcopyrite and bornite at 197m. According to historical drill logs, chalcopyrite was evident in 74% of the core yet only 70m (35%) of the core was sampled in 1964.
  
• Hole R-P-23-01 will test the extension of the historical high-grade intercepts in the Richards breccia by stepping out about 50m to the west of AR97-07 (27m @ 1.46% Cu, 0.17 g/t Au, 3.8 g/t Ag) at a vertical depth of approximately 50m. The company interprets the high-grade mineralization to follow the perimeter of the breccia pipe similar to the Breton breccia at the Tribag Mine Zone. This is supported by the semi-circular geometry of the gradient IP anomaly associated with the Richards breccia (see below).

Additional holes have been designed to follow up JR Zone targets laterally and at depth based on the visual results of the three proposed holes, as well as to test two new targets, the J2 “Roof Zone” MMI anomaly at Jogran, and the Richards northwest target, a potentially larger (150 x 250m) and more intense chargeability and resistivity anomaly similar to the Richards breccia anomaly.   

“The JR Zone contains lengthy intersections of near-surface breccia and porphyry-hosted mineralization that are untested at depth and untested for byproduct minerals. Confirmatory MMI lines and historical geophysics demonstrate the potential for a larger zone of mineralization at the Jogran porphyry and additional larger breccia targets to the northwest and to the south of the Richards breccia,” said Copper Road Resources President and CEO John Timmons. He added, “We are confident that our proposed summer exploration program will demonstrate the potential of the JR Zone to host a large-tonnage near-surface copper deposit containing a suite of byproduct minerals.”

Currently offering a private placement for gross proceeds up to $400,000, Copper Road Resources is in a good position to accomplish its 2023 exploration goals. Along with drilling the JR Zone, the company plans to continue exploring the Tribag Mine Zone, where in 2022 all eight holes of a 3,000m program intersected significant intervals of near-surface mineralization, proving the continuity, depth and additional mineralization outside of historical models at the Breton breccia. The 9-meter high-grade zone (1.47% CuEq) at depth also indicated potential for high-grade mineralization related to a feeder structure at the East breccia.

Between developments at the Tribag Mine and JR zones, CRD shareholders should expect a steady flow of news over the next several months.

Copper Road Resources
TSXV:CRD
Cdn$0.075, 2023.06.23
Shares Outstanding 47.3m
Market cap Cdn$3.5m
CRD website

Richard (Rick) Mills
aheadoftheherd.com
subscribe to my free newsletter

Legal Notice / Disclaimer

Ahead of the Herd newsletter, aheadoftheherd.com, hereafter known as AOTH.

Please read the entire Disclaimer carefully before you use this website or read the newsletter. If you do not agree to all the AOTH/Richard Mills Disclaimer, do not access/read this website/newsletter/article, or any of its pages. By reading/using this AOTH/Richard Mills website/newsletter/article, and whether you actually read this Disclaimer, you are deemed to have accepted it. 

Any AOTH/Richard Mills document is not, and should not be, construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment.

AOTH/Richard Mills has based this document on information obtained from sources he believes to be reliable, but which has not been independently verified.

AOTH/Richard Mills makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness.

Expressions of opinion are those of AOTH/Richard Mills only and are subject to change without notice.

AOTH/Richard Mills assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission.

Furthermore, AOTH/Richard Mills assumes no liability for any direct or indirect loss or damage for lost profit, which you may incur as a result of the use and existence of the information provided within this AOTH/Richard Mills Report.

You agree that by reading AOTH/Richard Mills articles, you are acting at your OWN RISK. In no event should AOTH/Richard Mills liable for any direct or indirect trading losses caused by any information contained in AOTH/Richard Mills articles. Information in AOTH/Richard Mills articles is not an offer to sell or a solicitation of an offer to buy any security. AOTH/Richard Mills is not suggesting the transacting of any financial instruments.

Our publications are not a recommendation to buy or sell a security – no information posted on this site is to be considered investment advice or a recommendation to do anything involving finance or money aside from performing your own due diligence and consulting with your personal registered broker/financial advisor.

AOTH/Richard Mills recommends that before investing in any securities, you consult with a professional financial planner or advisor, and that you should conduct a complete and independent investigation before investing in any security after prudent consideration of all pertinent risks.  Ahead of the Herd is not a registered broker, dealer, analyst, or advisor. We hold no investment licenses and may not sell, offer to sell, or offer to buy any security.

Richard does not own shares of Copper Road Resources (TSXV:CRD). CRD is a paid advertiser on his site aheadoftheherd.com

This article is issued on behalf of CRD