Redhawk Resources (RDK-V, RHWKF-O) has intersected some solid copper grades at its Copper Creek project, near San Manuel, Ariz., that it believes will add important near-surface resources to its next estimate.
The 100%-owned, 12-sq.-km copper-molybdenum property is located in the southwest United States copper belt, at the projected intersection of a major northwest belt of porphyry copper deposits.
The latest drill results include a 27-metre intersection grading 3.42%, including 12 metres grading 5.58% copper, starting at 18 metres depth.
Another of the drill holes intersected about 32 metres grading 2.74% copper from 38 metres depth, while a third drill hole, at the site, returned nearly 9 metres grading 3.12% copper from about 27 metres.
The drilling was carried out on the Copper Prince and the Copper Prince East breccias, located about 61 metres apart and less than 335 metres north of the exploration decline portal site that is currently in the permitting process.
Redhawk has also been drilling on a breccia body in the Globe area, located northwest of Copper Prince.
Results included 8 metres grading 1.03% copper starting at 57 metres depth and 19.5 metres grading 1.07% copper from 97.5 metres.
Resources haven’t yet been calculated for either the Copper Prince or the Globe breccias but both have seen some historical underground production and drilling. The company is working on a second-phase drill program that includes about 5,200 metres of rotary drilling and about 16,000 metres of core drilling.
On the news, Redhawk shares closed 8% or 4 higher at 54 each on a trading volume of 119,000 shares. The company has 68 million shares outstanding.
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