Minto Metals Corp (TSX-V:MNTO) has reported progress from its 2022 exploration drilling program at the Minto East mine located within the Selkirk First Nation's Territory in central Yukon, Canada.
The company reported on updated drill results from its recently completed 2022 program at Minto East at which drill hole 22-SDME-007 cut 5.53% Copper (Cu), 1.85 grams per tonne (g/t) Gold (Au) and 20.37 g/t Silver (Ag) over 8.66 metres (m) in exploration drilling to depth below the current Minto East orebodies.
This result and additional drill results represent a new mineralized lens below the Minto East orebodies, the company added.
REAd: Minto Metals says Minto Mine produced payable copper of 28.9 million pounds in 2022
Highlights:
Hole 22-SDME-008
- 2.28% Cu, 1.22 g/t Au, 10.89 g/t Ag over 8.41m including 2.77% Cu, 1.49 g/t Au, 13.25 g/t Ag over 6.82m;
Hole 22-SDME-011
- 2.82% Cu, 1.59 g/t Au, 15.71 g/t Ag over 5.72m;
Hole 22-SDME-012
- 1.38% Cu, 0.65 g/t Au, 4.92 g/t Ag over 8.82m including 2.04% Cu, 0.81 g/t Au, 7.08 g/t Ag over 5.00m;
Hole 22-SDME-015
- 3.53% Cu, 1.08 g/t Au, 12.83 g/t Ag over 6.35m; and
Hole 22-SDME-016
- 1.98% Cu, 1.10 g/t Au, 5.00 g/t Ag over 7.50m.
David Benson, vice president Exploration, said in a statement that the new discovery has the potential to add new resources for the company and highlights the real exploration potential that exists at the Minto mine site.
“This new mineralized zone occurs approximately 60m beneath the Minto East 152 lens, an area that previously had not been drill-tested despite supporting geophysical evidence suggesting additional mineralization could be present. We see numerous additional opportunities as we have demonstrated here beneath the current resource from supporting geological and geophysical interpretations to replicate the success at Minto East in future exploration drilling campaigns. We also see opportunities to optimize drilling efficiency by simply extending resource development drilling into prioritized target areas," he added.
Assay and Drill hole Analysis
At December 31, 2022, Minto had completed 53 holes for 28,438m. Results released today are from 10 drill holes totalling 4,845.5m.
Results reported today were drilled as part of collaborative drilling between the Mine Operations and Exploration departments at Minto. Mine Operations drilling aimed to increase the confidence level in Minto East lenses 151 & 152. Exploration drilling aimed to explore the area approximately 100m below Minto East lens 152; an area with no historical drilling. Results from the Mine Operations infill drilling are not reported in these results as they do not constitute exploration or a new discovery. All the drill holes were collared from a common drill setup and drilled in a clockwise, fan-approach. All drill holes intersected typical Minto-style, stacked, lensoidal mineralization of varying thickness and sulphide content. Mineralized host rocks and sulphide speciation are consistent in all holes reported with a direct correlation between sulphide content, speciation and Cu grade.
The new lens, initially termed 150 Deep, exhibits continuity across dimensions of 60m x 75m with drill-indicated thicknesses greater than 5m. The exploration target area for 150 Deep is approximately 120m x 180m. Although not a primary target, all but one hole intersected the apparent continuation of Minto East Lens !55.
Outlook
Minto completed 28,438m from 53 drill holes of Exploration drilling in 2022. The company is awaiting the final assay results from the assay lab and subsequent QA/QC reports for the remainder of the drilling. These are expected and will be reported later in Q1 2023. The company has received preliminary data and interpretations regarding data clustering analyses and structural mapping from ALS Goldspot Discoveries. Minto expects preliminary machine-learning-generated prospectivity mapping along with prioritized drill targets from Goldspot before Q2 2023.
Minto operates the producing Minto mine located within the traditional territory of the Selkirk First Nation in the Minto Copper Belt of the Yukon. The Minto property is located west of the Yukon River, about 20 kilometres (km) WNW of Minto Landing, the latter on the east side of the river, and approximately 250 road-km north of the City of Whitehorse, the capital city of Yukon.
Contact the author at jon.hopkins@proactiveinvestors.com