On Project details, one can refer to the compliant NI 43-101 Technical Report with an effective date of
Highlights of the Current Exploration Program
Detailed review of all available historic data to clearly identify past work locations, historic sample points when possible, DDH collar locations etc.
A field prospecting, mapping and sampling program to cover the entire property. Coverage by systematic traverses along virtual grid lines. Particular attention will be paid to the examining obvious outcrop and searching for extensions to mineralized veins previously identified and searching for strike extensions of these veins systems.
A three-man crew comprised of experienced geologists, inclusive of a
Sampling of mineralized outcrops to be completed as necessary. The Company has budgeted for up to 400 samples to be taken for analytical sampling. Channel sampling will be carried out where feasible with an aim of sampling the entire width of veins and into the surrounding host rock on each side.
A drone will be used in the field with the crew to investigate access, identify outcrop and to capture visuals of certain areas. If deemed reasonable, an orthophoto of parts of the property can be created. Handheld magnetic susceptibility meter and an XRF unit will be deployed with the field crew. The latter is a unique tool used in the field to provide instant feedback on the presence of mineralization.
Results from this initial work will provide the required detail to locate and prioritize targets, allowing for the planning of a future follow-up drill program.
Brief Description of the Master Copper Property
The earliest recorded exploration on the Master Copper Property dates back to approximately 1930, although undocumented exploration may have occurred since the 19th Century. The majority of the historic work dates from the early 1940s to the 1970s. A portal and an adit are present on the property; little historic information is available regarding the amount of development underground nor the date or operator. A minimum of 63 diamond drill holes totaling 4,200 m and a number of trenching programs were undertaken, but the low quality of historic data makes it difficult to reconstruct the exact locations of much of this work. More recent, better documented work was completed by prospectors Yvon and
Recent work by Colossus includes an heli-borne magnetic survey and a ground VLF-EM survey. On
1. A highly magnetic north-northwest trending dyke interpreted as part of the
2. West-northwest trending dykes attributed to the
3. Large expanses of higher magnetic intensity, coinciding with higher topography, interpreted to represent
4. West-northwest trending linear magnetic lows interpreted to represent potentially copper-mineralized quartz veins.
A preliminary interpretation was completed, and findings were summarized as follows. VLF anomalies are visible in the data over known mineral copper-sulphide occurrences. Applying this model to the rest of the property revealed numerous other linear anomalies, broadly parallel to the Master Copper vein. A cluster of east-west conductors in the northeast of the Property are of particular interest since there is little to no historic exploration work in this area.
The current field program will investigate this unexplored target area in detail. During the site visit for the recently written 43-101 report fifteen grab and two chip samples were taken from quartz veins seen in the Gagne trenches and outcrops on the main Master Copper vein trend, and two parallel veins to the southwest. Confirmatory assays taken from the Master Copper vein include 1.45% Cu and 0.83 g/t Au (sample w708681). Assays from one of the parallel veins (possibly the Werner Lake Mines vein) include a value of 5.04% Cu (sample w708675). All data are detailed in the
Contact:
Charalambos
Harry
Katevatis
CEO & Director
E: info@colossusresources.com
Neither
FORWARD-LOOKING STATEMENTS
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