Teck, Western Copper hit more mineralization at Salvador property in Mexico

Air-track drilling at the 225-sq.-km Salvador property in north-central Mexico has outlined another zone of surface oxide mineralization for partners Teck (TEK-T) and Western Copper Holdings (WTC-T).

The latest zone measures 350 metres by 600 metres and is 3 to 30 metres thick.

Of the 35 holes drilled, 29 encountered copper mineralization. Drilling has been suspended pending the receipt and interpretation of assay results.

The companies have already identified a volcanic massive sulphide zone at the property, which is situated in Zacatecas state, and have drilled another oxide zone there.

Subsequent mapping, sampling and drilling of the exposed mineralization suggest the deposit is an oxidized massive sulphide of the volcanogenic massive sulphide-sedimentary exhalative type. The zone, according to the companies, resembles the recently discovered Peoles/Fresnillo deposit 50 km northwest.

Five new holes have been completed on the volcanic massive sulphide zone, which is 75 metres below the recently discovered oxide zone. Four holes returned intersections ranging from 0.5 to 2 metres. The holes also have characteristics similar to hole 5, which averaged 16.57% zinc, 2.07% copper, 1.53% lead, 3.68 grams gold and 213 grams silver per tonne over a true thickness of 1.6 metres.

A fifth hole is 250 metres north of hole 5, the discovery hole, and was designed to test a geophysical anomaly. That hole intersected layered massive sulphides in a sedimentary environment from 12.2 metres to 114.1 metres, a thickness of 101.9 metres.

In a release, the partners stated: “Since this mineralization is in a different environment than the other massive sulphide intersections, no assurance can be given that it contains economic mineralization.” Assays from that zone are expected in December.

Teck can increase its interest in the project to 65%, from 55%, by arranging production financing. It can also buy another 5% from Western Copper on completion of a feasibility study.

The air-track drill, which the company says provides a better recovery rate for the dry sedimentary rock of these outcrops, is currently being moved to the Virgen property, 3.5 km north, to test a near-surface copper oxide deposit.