Drilling on the Boleo copper-cobalt project in Mexico is under way, with International Curator Resources (TSE) reporting results from the first seven holes.
The holes were drilled along a 2.4-km-long fence to test the No. 1 and No. 2 beds in the adjacent Montado and El Creston areas.
Boleo is underlain by a series of relatively flat-lying sedimentary beds of copper-cobalt mineralization. International Curator, which holds an option to buy a 100% interest in the property, is investigating the potential of developing an open-pit and/or underground mine.
Four holes, including Nos. 39, 43, 44 and 45, intersected the No. 1 bed, returning an average intersection of 1.22% copper and 0.15% cobalt over a true width of 2.63 metres. Two other holes, 40 and 41, were drilled in an area where the No. 1 bed is eroded, and the seventh hole, 42, was lost in a fault.
The No. 2 bed was intersected by holes 39, 40, 41, 44 and 45 (awaiting assays). The four holes returned an average of 0.37% copper, and 0.047% cobalt over 7.48 metres. The company notes that the grade is lower than that of the Saturno open-pit target, about 6.5 km to the northwest. But it may be economic to employ open-pit methods in the area of hole 41, where the bed is close to surface.
Work to date has outlined a drill-indicated and inferred open-pit resource of 91.5 million tonnes grading 0.7% copper and 0.08% cobalt, including 13 million tonnes of low-strip material (2-to-1) in the Saturno area. A further geological underground resource is estimated at 49.4 million tonnes grading 2.67% copper and 0.082% cobalt.
Two drill rigs are now operating at the property, grid-drilling the Saturno, Mercurio and Apolo areas. All three areas are seen as having open-pit potential. International Curator is also awaiting metallurgical tests at Lakefield Laboratories in Ontario.
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