Can CUU and or Teck be the interested parties in a joint venture with Paget?
posted on
Feb 13, 2014 05:07PM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
"Paget has received expressions of interest to jointly advance the Ball Creek project and the Company will pursue these opportunities"
If it's not Teck then there may just be another big player scouting the grounds.
Comparisons of Golden Triangle Reserve and Resource Grades with Paget's Main Zone Gold-Copper Porphyry Drill Results:
-----------------------------------------------------------------------
-----
Project Cu Eq %
Au g/t Cu % Au Eq (iii) (iii)
----------------------------------------------------------------------------
Ball Creek Project - Main
Au-Cu Porphyry (i) 0.3-0.75 0.13-0.26 0.51-1.08 0.31-0.65
----------------------------------------------------------------------------
Galore Creek (ii) 0.29 0.47 1.06 0.64
----------------------------------------------------------------------------
Schaft Creek (ii) 0.19 0.27 0.62 0.38
----------------------------------------------------------------------------
Red Chris (ii) 0.31 0.31 0.82 0.50
----------------------------------------------------------------------------
North ROK (ii) 0.26 0.22 0.62 0.38
----------------------------------------------------------------------------
(i) Significant intervals from historic and 2012 drill programs, no metallurgical assumptions made
(ii) All numbers reflect weighted averages using sourced data as of February 6, 2014 from, respectively: Teck Resources (December 31, 2012 data posted on company website), Copper Fox Metals (Feasibility Report dated January 27, 2013), Imperial Metals (February 2012 data posted on company website), Colorado Resources (press release dated January 27, 2014).
(iii) AuEq and CuEq calculated from sourced data using $1250 gold and $3 copper not adjusted for metallurgical recoveries
The planned 2014 exploration program will focus on other mineralized zones within the Project claim block with the objective of bringing these targets to a drill-ready stage as soon as possible, including the following:
-- Cliff Zone copper-gold porphyry: Possible nested porphyry with the Main
Zone gold-copper porphyry noted above. Additional mapping and sampling
to test stockwork veining with assays up to 0.74% copper and 0.15 g/t
gold coincident with a magnetic low measuring 1,700 x 400m
-- More Zone gold-copper porphyry: Follow-up mapping, sampling and
trenching within the north-south gold mineralized zone (gold up to 0.9
g/t) measuring 800 x 300m zone
-- Mess Zone gold-copper porphyry: Follow-up to significant historic drill
result of 40m @ 1.0 g/t gold (hole BE10) and trenching with coincident
mapping and sampling over areas where historic soil and rock samples
have returned grades of 0.1-1.0% copper and 0.36 - 3.1 g/t gold
-- Ridge copper-gold porphry and epithermal gold-silver mineralization:
Further mapping and sampling of the alkalic porphyry intrusive with
associated skarn and hornfels development. Soil samples with values
ranging from 100 to 500ppb gold have never been fully evaluated or
drilled. Follow-up of the epithermal Au-Ag mineralization where sampling
has returned values of 19 and 59 g/t Au and 106 g/t Ag in silica-sulfide
breccias
-- Valley Zone gold-silver epithermal: Additional reconnaissance of high-
grade gold-silver structures (2m @ 21.0 g/t Au, 1200 g/t Ag)
-- HP epithermal gold-silver: Additional reconnaissance of vein samples
that returned an average 2.55 g/t Au and continuous chip sample that
returned 59m @ 0.6 g/t Au
Paget has received expressions of interest to jointly advance the Ball Creek project and the Company will pursue these opportunities concurrently with the planned program outlined above.