VANCOUVER — Infill drilling by Global Hunter (BOB-V, GBLHF-O) on the Las Posadas shear zone at its La Corona de Cobre project, in northern Chile, has cut some significant copper intercepts.
The latest round of drilling includes hole 85, which returned 52 metres (from 37 metres down-hole) grading 1.75% copper (1.42% soluble copper), including an 18-metre section of 2.96% copper (2.46% soluble copper).
The company recently completed mostly infill drilling of almost 9,600 metres — bringing drill density down to roughly 50-metre centres over the existing resource. The program also served to extract additional material for copper oxide metallurgical testing.
A 2006 resource tally modelled a pit shell on the Las Posadas shear zone hosting an estimated 8.5 million indicated oxide tonnes grading 0.73% copper (0.614% soluble copper) for about 115 million contained pounds soluble copper. Las Posadas also holds 4.6 million inferred tonnes of 0.56% copper (0.49% soluble copper) for about 44.9 million contained lbs. soluble copper. The estimate used US$1.61 per lb. copper and a 0.16% soluble copper cutoff grade.
Situated 70 km north of La Serena, the project is in the Chilean Iron Belt and sits at the southern end of the northeast-trending Atacama fault zone. Global Hunter has identified at least 15 mineralized shear structures on the project ranging from 10 to 150 metres wide and 500 metres to 9 km in strike length. The junior is also evaluating the iron oxide-copper-gold (IOCG) potential of the project.
The company also holds the Rabbit South molybdenum project, near Kamloops, in south-central B.C.
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