Minto Metals Corp (TSX-V:MNTO) has released updated drill results from its Minto mine property in Yukon, Canada, which show promising potential for the company to expand the copper resource.
Highlights from the results include an intercept of 1.34% of copper over 25.97 metres, including 2.72% copper over 9.32 metres, according to Minto.
Another drill hole revealed 3.83% copper over 2.05 metres and 0.79% copper over 15.10 metres, including 2.71% over 3.58 metres.
READ: Minto Metals announces record 1Q copper production
A third drill hole showed 1.42% copper over 15.99 metres, the company said.
Minto vice-president exploration David Benson said following these strong results, additional step-drilling was planned for later in the year.
“Part of the exploration mandate is to replace the mined resource base and these results from the step-out drilling at Minto East 2 and Cu Keel verify that the orebodies continue along strike and down-plunge,” he said in a statement.
Minto CEO Chris Stewart said the company saw great potential to expand its resource at the property, where there has been no exploration since 2012.
“These new drill results demonstrate that there is still a lot of potential to find new high-grade lenses as well as extensions to know mining areas on this property near our existing infrastructure where over 500 million pounds of copper have been produced since mining started back in 2007,” Stewart said.
“In (the second half of) 2022 we will also be drilling into some completely new, high potential targets in previously untested areas as we look to step out from our known source.”
The company is continuing to complete its 2022 drill program, and in the year to date, Minto has drilled and completed 25 holes for 11,953 metres of the budgeted 30,000 metres.
Minto owns and operates the producing Minto mine located in the Minto copper belt of Yukon in Canada, which includes underground mining operations, a processing plant that produces a high-grade copper, gold, and silver concentrate, and supporting infrastructure.
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