Minto Metals Corp (TSX-V:MNTO) has hailed the findings of a deep-penetrating Magnetotellurics (MT) survey at its producing copper, gold and silver mine in the Yukon, which showed the potential for more economic mineralization at depth.
The work was carried out by Quantec Geoscience between July 10 and August 28 this year and comprised 184 survey sites. Minto received the results in late November.
The survey highlighted three "significant" anomalies (A, B and C) on the Minto property, including a large low resistivity anomaly below the mine's orebodies extending to a depth of around 300 metres (m), or around 650m below the lowest current mine development or roughly 1,000m below surface.
B was identified as a low-moderate resistivity anomaly to the north-east of the Minto mine workings, which appears to follow the regional northwest-southeast structure, the miner said.
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Anomaly C was shown to be a large, low resistivity anomaly at the south end of the Minto property that likely represents the younger-aged, Little Ridge / Casino Formation mafic volcanics and associated sediments, the company said.
The data will be incorporated into the Minto geological model and used in ALS Goldspot Discoveries Corp's work with machine-learning prospectivity and target generation.
"We are very pleased with the results from the MT survey. The results indicate prospectivity at depth below the current mine levels and validates our initial thinking that the current Minto resource base is limited by the depth of the historical drilling," David Benson, Minto's vice-president of exploration told investors in a statement.
"Equally, we are very excited about drill-testing Anomaly 'B' in 2023 as this has the potential to be a new, mineralized system at Minto. The company plans to drill test both Anomalies 'A' and 'B' from surface and underground drill platforms in 2023," he added.
A Magnetotellurics (MT) survey is a passive electromagnetic technique that maps resistivity by measuring telluric currents induced in the earth by natural sources such as lightning, solar flares and ionospheric resonances.
The operating Minto mine lies in the traditional territory of the Selkirk First Nation in the Minto Copper Belt of the Yukon. It has been in operation since 2007 with underground mining commencing in 2014. Since 2007, around 500 million pounds of copper have been produced.
Current operations are based on underground mining and a process plant to produce high-grade copper, gold, and silver concentrate.
Contact the writer at giles@proactiveinvestors.com