공고 • Jul 14
Corcel Exploration Reports Assay Results From Phase I Drill Program At Yuma King Project
Corcel Exploration Inc. announced assay results from two drillholes from the recently completed Phase I drill program at the Yuma King Project located in west-central Arizona. Drill hole YK26-002 intersected skarn-hosted copper-gold mineralization from a 45-metre step-out to the east of drill hole YK26-001, while YK26-003 intersected skarn-hosted copper-gold mineralization from a 350-metre step-out to the west of drill hole YK26-001. Drill hole YK26-001 previously intersected 56.65 metres of 1.07% Cu, 0.79 g/t Au, 7.1 g/t Ag, and 180 ppm Mo. Results are pending from three additional drill holes. The Phase I drill program totaled 1,087 metres across six drill holes and tested more than 500 metres of strike-length. Known mineralized strike length increased by 350 metres, to approximately 900 metres. Results include: YK26-002: 40.25 metres of 0.52% Cu, 0.40 g/t Au, 4.49 g/t Ag, and 85 ppm Mo starting at 30 metres downhole, including 8.75 metres of 0.74% Cu, 0.46 g/t Au, 3.72 g/t Ag, and 46 ppm Mo from 44.25 metres downhole and including 15.85 metres of 0.70% Cu, 0.59 g/t Au, 8.1 g/t Ag, and 152 ppm Mo from 54.4 metres downhole. YK26-003: Intersected Cu-Au mineralization in a 350 m step-out to the west, 32 metres of 0.17% Cu, 0.04 g/t Au, 2.47 g/t Ag, and 25 ppm Mo starting at 25 metres downhole, including 9 metres of 0.25% Cu, 0.09 g/t Au, 3.5 g/t Ag, and 24 ppm Mo from 33 metres downhole and including 7.33 metres of 0.29% Cu, 0.04 g/t Au, 4.2 g/t Ag, and 36 ppm Mo from 46.6 metres downhole. Drill results from YK26-002 and YK26-003 build on historical drill results and YK26-001, further demonstrating the compelling potential of the Yuma King mine target. Drilling results, geology, geophysics and geochemical results indicate the mineralized system continues to the north and northwest, toward the recently identified North Skarn target, which was delineated by the IP survey conducted earlier this year. The mineralization remains largely open to the north under cover, towards the North Skarn target. The Phase I drill program at the Yuma King project, near Salome, Arizona, consisted of 1,087 metres across six drill holes. The remaining three drill holes are currently at the lab and will be released once assays are received, compiled, and interpreted. Drill hole YK26-002 was designed as a 45-metre step-out to the east from YK26-001 and from historical drill intercepts to test the extension of the mineralized, oxidized skarn. The hole was drilled toward the northeast at a dip of -50°. Based on geological modeling and a review of historical drilling, YK26-002 was planned to expand the known mineralization up-dip to the east from historical mine workings. YK26-002 intersected a broad zone of near-surface copper-gold-silver mineralization beginning at 30 metres, including 40.25 metres of 0.52% Cu, 0.4 g/t Au, and 4.49 g/t Ag. Mineralization within this interval consists primarily of copper oxides hosted in copper skarn/replacement style mineralization. The hanging wall, composed of monzonite porphyry, is strongly anomalous in copper, gold, and molybdenum, indicating a connection to a possibly more expansive porphyry-style mineralized system. Results from drill hole YK26-002 compare favorably with historical drilling from the 2006 drill program (e.g., 45.4 metres of 0.78% Cu, 0.53 g/t Au, and 6.3 g/t Ag in drill hole YK-001A), supporting the continuity of the mineralized oxide skarn along strike and up-dip. Drill hole YK26-003 was drilled 350-metres to the west of YK26-001 and was drilled to the north at a dip of -60°. The primary objective was to drill the magnetic anomaly to the north, but access limitations allowed only the southern margin of this anomaly to be tested. The drill hole intersected 32 metres of 0.17% Cu, 0.04 g/t Au, and 2.5 g/t Ag beginning at 25 metres down hole. This mineralization is similar in tenor to that in historical drill hole AV-1 which encountered 27.4 metres of 0.14% Cu, 0.08 g/t Au, and 1.1 g/t Ag in 2011, over 400 metres to the north of YK26-001 and the historical Yuma King mine. The successful step-out to the west and similar mineralization in hole AV-1 to the north may indicate the potential for a large mineralized footprint, still open in multiple directions including towards the untested North Skarn target. Hole lost and re-drilled as YK26-005A and was not sampled. All sampling was conducted under the supervision of Corcel's geologists, and all drill core analytical results have been monitored through the Company's quality assurance and quality control program (QA/QC). The drill core was sawn in half at Corcel's dedicated and secure core logging and processing facility near Parker, Arizona. Half of the drill core was sampled and shipped by a bonded courier in sealed and secured woven polyester bags to Agat Laboratories in Calgary, Alberta. Core samples were prepared using standard preparation procedures 200-078 and 200-087 which involve crushing the sample to 80% less than 2mm, followed by a riffle split of 250g, and then a pulverised split to better than 85%, passing 75 microns. Following sample preparation, the pulps were sent to the Agat Laboratories in Calgary, Alberta for analysis. Agat is registered to ISO/IEC 17025:2017 accreditations for laboratory procedures. Drill core samples were analyzed for 48 elements, including Cu, Ag, Mo by ICP-OES/MS on a 0.2-gram aliquot using a four-acid digestion (method 201-071 and 201-470 for over-limit results). Gold was analyzed by fire assay on a 50-gram aliquot with an AAS (Atomic Absorption Spectroscopy) finish (method 202-551). In addition to Agat Laboratories QA/QC protocols, Corcel implements a rigorous internal QA/QC program that includes the insertion of field and lab duplicates, certified reference materials (standards prepared by an independent lab) and blanks into the sample stream. Data verification of the analytical results includes a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results, and the procedures and results are considered acceptable.