Copper Road Resources (TSXV:CRD) Batchewana Bay project sits on the northeastern flank of the Mid-Continental Rift, in the Canadian province of Ontario.
Copper Road’s property is district-scale, covering 21,000 hectares within the Batchewana Bay district, 80 km north of Sault St. Marie.
The property package 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 historic production of 1 million tonnes @ 1.16% Cu.
To date, there are several confirmed zones of mineralization — Tribag, Glenrock, JR (Richards/Jogran) and Coppercorp — each hosting multiple targets for exploration. Together, they span a total length of 30 km.
In 2022, Copper Road completed 3,000 meters of drilling at the Tribag mine zone, designed to test the continuity of the significant zones of copper mineralization of the Breton and East breccia pipes.
All eight holes drilled in the program intersected significant intervals of near-surface mineralization, proving the continuity, depth, and additional mineralization outside of historical models at the Breton breccia. Notable results include hole TR22-006, with 100.39m at 0.32% Cu and 2.99 g/t Ag (0.35% CuEq), including a 5m interval at 1.11% Cu and 4.69 g/t Ag (1.15% CuEq).
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.
Given last year’s success, the company plans to continue exploring the Tribag mine zone in 2023.
Another area of interest is the JR zone, located 12 km from the Tribag mine.
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 this year is to expand this surface exploration and drill-test the JR zone to establish a second large-scale mineralized zone at its Copper Road project.
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.
In fall 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.
“The company is planning further exploration and drilling in 2023 to develop and de-risk the JR Zone targets, as well as expanding regional exploration to further enhance additional mineralized porphyry and breccia targets that have been identified through historical data compilation over this large project area,” President and CEO John Timmons said in the April 17 news release.
Copper Road Resources
Shares Outstanding 47.3m
Market cap Cdn$2.8m
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