Minto Metals Corp. [MNTO-TSXV] provided an update on progress from its 2022 exploration drilling program at the Minto mine, Yukon Territory.
The company reports updated drill results from the continuing 30,000-metre exploration drilling program. Highlights include high-grade results received from exploration drilling at Minto North. Drill hole 22EXP042 cut 2.20% copper over 20 metres drill width in follow-up, step-out drilling from drill hole 21EXP003 that cut 1.58% copper over 28 metres.
Combined, these results represent mineralization approximately 200 m west-northwest of the current NI 43-101 resource at Minto North.
Additional highlights include Hole 22EXP031 that returned 2.11% copper over 12.16 metres from 84.84 metres downhole including 3.52% copper over 7.26 metres representing a newly discovered mineralized lens in the footwall of the 122 Lens at copper Keel South.
Hole 22EXP034 returned 1.30% copper over 4.41 metres from 127.04 metres downhole representing a new mineralized lens below the Ridgetop orebody.
Hole 22EXP023 returned 0.46% copper over 29.39 metres from 74.81 metres downhole; a new, near-surface discovery.
David Benson, Vice-President Exploration, commented, “This phase of drilling focused on high priority, untested exploration targets adjacent to the current resource base and followed-up on successful discovery holes from the 2021 drill campaign. To date, the company has drilled 43 holes for 23,311 metres of a budgeted 30,000 metres for 2022. The initial results from step-out drilling at Minto North are very encouraging as they confirm the existence of a new lens or extension of the known lenses of the Minto North resource.
“We’re looking forward to additional results from further step-out drilling at Minto North and have commenced planning for resource delineation drilling in 2023. The discovery of a new lens in the immediate footwall of the 112 Lens at Cu Keel South is very encouraging as it underlines the potential for organic growth near current infrastructure and development at Minto.
“All drill hole results reported today intersected Cu-Au-Ag mineralization of varying grade and thickness, from near-surface to depths up to 550 metres below surface and confirm the current geological model of a subhorizontal sheared to ductile deformed, metamorphosed, intrusion-related copper mineralized system. We are very optimistic on many of these new prospects and eagerly anticipate more drill results and the results from our summer geophysical programs outlined in the press release dated February 23, 2022.”
Chris Stewart, President and CEO, added, “I am pleased with the progress of our Exploration program to date in 2022. These Minto North results, along with the new lenses reported on today and in previous drilling phases indicate the potential to add significant resources and value for the company and stakeholders.”
Minto is continuing to drill its 30,000-metre program and is awaiting results from 21 drill holes that targeted Minto North. The company expects to report on these results in December, 2022. Current drilling at Minto East is dually drill-testing exploration targets below the current inferred mineral resources of the Minto East 151 and 152 lenses and upgrading the current inferred mineral resource. Quantec Geoscience completed Borehole Pulse Time-domain electromagnetic surveys on 13 holes and a 184-station surface magnetotellurics survey in late August. Satellite-based spectral imaging, utilizing the Worldview-3 Spectral Mapping satellite, over the company’s Yukon properties was completed on August 31 st, 2022. Goldspot Discoveries Corp. conducted a site visit in mid-September, 2022 and are in the process of fully integrating new drilling and geophysical results with historical data for use with supervised and unsupervised, machine-learning prospectivity and target generation.
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 mine has been in operation since 2007 with underground mining commencing in 2014. Since 2007, approximately 500Mlbs of copper have been produced from the Minto mine. The current mine operations are based on underground mining, a process plant to produce high-grade copper, gold, and silver concentrate, and all supporting infrastructure associated with a remote location in Yukon. The Minto property is located west of the Yukon River, about 20 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.
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