Coronation mobilizes drills to Coppermine

Vancouver — With results in hand from recent geophysical surveys, Coronation Minerals (MSA-V) is preparing to drill-test targets at its copper-nickel-platinum project situated 60 km southeast of Kugluktuk (formerly Coppermine), Nunavut.

The large land package is considered prospective for nickel-copper-platinum group metal occurrences hosted by a major mafic intrusion, and high-grade, structurally controlled, copper sulphide targets.

The most advanced target, identified in the 1960s, is the Dot 47 discovery zone, which hosts a historic resource of about 4.16 million tons of 2.96% copper. This resource does not meet National Instrument 43-101 reporting standards, and is based on drilling along only 500 metres of strike length to a depth of 152 metres.

A 2,000-metre drill program carried out in 2003 confirmed that the Dot 47 copper showing continues along strike to the northeast and southwest, as well as down-dip. The best results from that program include 56.4 metres grading 1.48% copper, including 15.6 metres of 3.38% copper, and 72.8 metres of 1.63% copper, including 7.7 metres of 5.27% copper, and 98.1 metres of 0.93% copper, including 30 metres of 1.34% copper.

Coronation recently completed airborne magnetometer and very-low-frequency electromagnetic geophysical surveys on the property. Once the data are analyzed, the company will test priority targets with at least 4,000 metres of drilling.

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