American Bullion drilling continues at Red Chris

A 60-hole program at the Red Chris porphyry copper-gold project, 10 km east of Iskut, B.C., is half-finished.

American Bullion Minerals (VSE) holds an 80% interest while Teck (TSE) retains 20% (half of which is carried). The latter can boost its stake to 55% by funding a final feasibility study and funding the project to production. Previous work outlined a drill-indicated resource of 41 million tonnes grading 0.56% copper and 0.34 grams gold per tonne.

American Bullion hopes to expand a higher-grade core within the deposit, which is estimated to contain 30 million tonnes grading 0.73% copper and 0.48 grams gold.

Recent results from the higher-grade stockwork zone include a 164.3-metre intersection in Hole 94-93 starting at 169.8 metres, with an average grade of 0.72% copper and 0.67 grams gold, and a 146.9 meter intersection in 94-95 starting at a depth of 221.0 metres, with an average grade of 0.47% copper and 0.35 grams gold.

Results from the southeast margin of the deposit, within the flanks of the higher-grade core, range from 152.4 meters grading 0.19% copper and 0.27 grams gold up to 45.7 metres grading 0.4% copper and 0.25 grams gold. Drilling is continuing and will focus on expanding the higher-grade copper and gold to the north and along strike to the east beyond the limits of previously defined mineralization.