Gold Reach cuts wide copper at Seel

Vancouver – Gold Reach Resources (GRH-V, GRHFF-O) delivered a strong copper intercept from its Seel project located about 120 km southwest of Houston in west-central British Columbia, prompting a trading flurry in the junior explorer.

Hole S06-42 intersected 138 metres (from 22-metres downhole depth) grading 0.845% copper and 23 grams silver per tonne, including a 42-metre section of 1.24% copper, 32 grams silver and 0.13 gram gold per tonne. Other holes in the program returned intercepts of 30-to-80 metres with grades ranging from 0.4% to 0.55% copper plus gold values of about 0.5 gram.

The drill program intersected a significantly mineralized breccia adjacent to the porphyry. The breccia, indicated over a greater extent than previously thought, contains fragments of the intrusive and volcanics with sulphides (pyrite-marcasite, chalcopyrite, sphalerite, tetrahedrite, and minor galena) as infillings.

Copper-gold mineralization is associated with Eocene quartz-feldspar porphyries intruding Hazelton Group volcanic and sedimentary rocks. The peripheral breccia zone hosts higher copper and gold grades, along with values of silver, lead and zinc that also occur in vein-hosted zones more distal from the porphyry. Thick overburden obscures outcrop over most of the project area where the intrusive was initially targeted from coincident copper-in-soil geochemistry and IP chargeability-resistivity anomalies.

The Seel project has road access and is about 8 km southeast of Imperial Metals‘ (III-T) 50%-owned Huckleberry copper-molybdenum mine, situated across Thatsa Reach, a flooded arm of Ootsa Lake.

The company plans increased geophysics and a winter drill program to further test the breccia-porphyry system.

Shares of Gold Reach have recently rallied from the 13-level, to reach a 29 high on the drill results before closing at 23 on trading volume of almost 4.2 million. The company posts a $12-million market capitalization with its 52.9-million shares outstanding.