NEW GOLD INTERSECTS WIDE, HIGH-GRADE COPPER-GOLD PORPHYRY MINERALIZATION AT NEW AFTON'S K-ZONE
EXTENDS K-ZONE ABOVE THE ELEVATION OF THE C-ZONE EXTRACTION LEVEL
Highlights
- High-grade copper-gold porphyry mineralization intersected within bornite-bearing K-Zone1:
- 2.01% copper and 1.79 g/t gold mineralization (3.22 CuEq%) over 217 metres core length (40 metres estimated true width) in Borehole EA24-485 including:
- 1.85% copper and 3.67 g/t gold mineralization (4.23 CuEq%) over 31 metres core length2
- 3.23% copper and 1.98 g/t gold mineralization (4.62 CuEq%) over 78 metres core length2
- 1.21% copper and 1.03 g/t gold mineralization (1.89 CuEq%) over 214 metres core length (22 metres estimated true width) in Borehole EA23-477 including:
- 1.85% copper and 2.13 g/t gold mineralization (3.23 CuEq%) over 56 metres core length2
- 2.78% copper and 0.49 g/t gold mineralization (3.15 CuEq%) over 42 metres core length2
- 2.01% copper and 1.79 g/t gold mineralization (3.22 CuEq%) over 217 metres core length (40 metres estimated true width) in Borehole EA24-485 including:
"The latest K-Zone drilling includes some of the best mineralized intervals drilled at the New Afton mine and expands the mineralized envelope, highlighting the potential for a new mining zone close to existing mine infrastructure," stated
The exploration drift, which is being developed to provide additional drill platforms, is scheduled for completion in June and will be utilized to accelerate exploration drilling in the eastern part of the mine, including better defining the high-grade extension of K-Zone. The Company plans to provide additional exploration updates to the market later this year.
New Afton continues to execute on its exploration strategy to extend the mine life beyond 2030. Exploration efforts remain focused on potential near-mine zones located above the C-Zone extraction level to minimize capital investment and maximize free cash flow generation. The Company continues to advance strategic opportunities for mine life extension, leveraging New Afton's processing plant, infrastructure and tailings storage facility, which has sufficient capacity to process significantly more ore beyond the current New Afton mine life.
1 All copper and gold grades are reported uncapped. It has yet to be determined whether further exploration will result in the target being delineated as a mineral resource. Additional data and further interpretation work are expected to better define the geometry and extent of the mineralized zones. |
2 Estimated true widths are not determined. They are interpreted to be less than the estimated true width of the host zone and the core length of the reported interval. |
All new K-Zone drilling intercepts in bornite-bearing and chalcopyrite-bearing K-Zone are summarized in Tables 1 and 2, and Figure 1 below. Indicative copper equivalent (CuEq) and gold equivalent (AuEq) grades are included for context and estimated using price assumptions of
Table 1: New Drilling Results at K-Zone
Zone |
Drill Hole |
|
From (m) |
To (m) |
Interval (m) |
Estimated True |
Cu (%) |
Au (g/t) |
Ag (g/t) |
CuEq (%) |
AuEq (g/t) |
K-Zone (Bornite) |
EA24-485 |
|
330 |
547 |
217 |
40 |
2.01 |
1.79 |
10.43 |
3.22 |
5.15 |
Including1 |
365 |
396 |
31 |
|
1.85 |
3.67 |
10.45 |
4.23 |
6.78 |
||
Including1 |
441 |
519 |
78 |
|
3.23 |
1.98 |
18.12 |
4.62 |
7.40 |
||
EA23-477 |
|
298 |
512 |
214 |
22 |
1.21 |
1.03 |
3.43 |
1.89 |
3.02 |
|
Including1 |
392 |
448 |
56 |
|
1.85 |
2.13 |
5.42 |
3.23 |
5.18 |
||
Including1 |
466 |
508 |
42 |
|
2.78 |
0.49 |
7.12 |
3.15 |
5.04 |
||
K-Zone (Chalcopyrite) |
EA23-483 |
|
232 |
318 |
86 |
15 |
0.40 |
0.68 |
1.11 |
0.84 |
1.34 |
Including1 |
276 |
284 |
8 |
|
1.00 |
2.62 |
5.20 |
2.69 |
4.30 |
||
EA23-481B |
|
582 |
618 |
36 |
12 |
0.83 |
0.41 |
3.97 |
1.12 |
1.79 |
|
EA24-486B |
|
187 |
235 |
48 |
12 |
0.30 |
0.41 |
0.64 |
0.56 |
0.90 |
|
EA23-467B |
|
292 |
306 |
14 |
4 |
0.29 |
0.48 |
0.75 |
0.59 |
0.95 |
|
1. Estimated true widths are not determined. They are interpreted to be less than the estimated true width of the host zone and the core length of the reported interval. |
Table 2: K-Zone Drilling Location and Orientation
Drill Hole |
Azimuth1 |
Dip |
Length (m) |
UTM Easting (m) |
UTM Northing (m) |
Elevation (m) |
EA24-485 |
050 |
+04 |
596 |
675,269 |
5,614,689 |
-506 |
EA23-477 |
049 |
-05 |
557 |
675,268 |
5,614,689 |
-506 |
EA23-483 |
054 |
-08 |
501 |
675,265 |
5,614,671 |
-506 |
EA23-481B |
044 |
+07 |
707 |
675,268 |
5,614,689 |
-506 |
EA24-486B |
067 |
-34 |
372 |
675,264 |
5,614,670 |
-506 |
EA23-467B |
058 |
-19 |
443 |
675,269 |
5,614,689 |
-507 |
1. Relative to UTM North. |
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Certain information contained in this news release, including any information relating to
All forward-looking statements in this news release are based on the opinions and estimates of management that, while considered reasonable as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to important risk factors and uncertainties, many of which are beyond
Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include, without limitation: price volatility in the spot and forward markets for metals and other commodities; discrepancies between actual and estimated production, between actual and estimated costs, between actual and estimated Mineral Reserves and Mineral Resources and between actual and estimated metallurgical recoveries; equipment malfunction, failure or unavailability; accidents; risks related to early production at the
QA/QC Procedure
Technical Information
The scientific and technical information relating to the drilling update on K-Zone has been reviewed and approved by Dr.
For additional technical information on
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