Exploration of the Galaxy property, 15 km southwest of Kamloops, B.C., is in a holding pattern following the decision by Teck (TSE) to drop its option on the project.
Getchell Resources (VSE) will retain a 100% interest in Galaxy and plans to review all of Teck’s technical data on the project before deciding on a course of action.
Teck cited insufficient tonnage above a 0.5% copper cutoff as the main reason for not proceeding on the project.
The Galaxy deposit was last estimated to contain 3.2 million tonnes grading 0.65% copper plus 0.34 gram gold per tonne. Teck was investigating the possibility of processing the material at its nearby Afton-Ajax operation.
In the meantime, exploration work is continuing at the nearby Rainbow property, a 70-30 joint venture between Teck and Getchell.
Drilling is under way to test a new zone of copper and gold mineralization discovered late last year by Teck while it was drill-testing the Rainbow 2 zone.
Rainbow 2 contains roughly 14.1 million tonnes grading 0.5% copper to a depth of 300 metres.
DRC Resources (VSE) is also planning drilling in the area; the junior operates the Python copper-gold property a few kilometres east of Rainbow.
The planned drilling will test three main targets, including one adjacent to the Galaxy deposit.
The other two target areas cover multi-element geochemical anomalies at the southeastern end of the Python ground 1-2 km east of Teck’s active West pit (10 million tonnes grading 0.5% copper and 0.3 gram gold).
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