The Taurus porphyry copper-molybdenum deposit in east-central Alaska, discovered in 1970, has made the rounds over the years. The latest to have a kick at the can is Guilford Brett’s
The Vancouver-based junior has picked up an 80% interest in the deposit, which sits 46 miles northeast of Tetlin Junction. The property was explored in the 1970s by several mining companies, and the East Taurus zone in particular was tested by 29 drill holes. Published resource estimates put the size of the deposit at anywhere from 50 million tonnes grading 0.3% copper and 0.07% molybdenum to 133 million tonnes grading 0.3% copper and 0.039% moly.
One of the previous holes, which was assayed for gold, returned 125 metres of 0.22% copper and 0.54 gram gold per tonne.
Lodestar Explorations had a go at the property in the early 1990s and formed a joint venture with Hemlo Gold Mines. After completing a 5-hole program of reconnaissance drilling on geochemical targets, including the West zone anomaly, Hemlo dropped the Taurus option.
Cusac hopes to advance the Taurus project by securing the participation of a major.
In the meantime, the junior has managed to raise $110,000 by placing 500,000 shares priced at 13 per share and by exercising options on 300,000 shares at 15. Proceeds will be used to launch a 1,500-metre drill program on its Clearwater platinum prospect, north of Kamloops, B.C.
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