OK2 Minerals Completes RC Drilling at Pyramid; Diamond Drills to Be Mobilized Shortly to Test Deeper Porphyry Targets
14 August 2017 - 10:30PM
OK2 Minerals Ltd. (TSXV:OK)(the “Company” or “OK2”) is pleased to
report that results have been received for all Reverse Circulation
(RC) drill holes in the 2017 Phase 1 exploration program at the
Company’s Pyramid copper-gold porphyry project at the northern tip
of BC’s “Golden Triangle”. Eleven holes were drilled for a total of
1260.42m and four zones were drill tested: the West, Central and
East Zones as well as Zone 37.
The RC drilling program was successful in
testing IP geophysical anomalies and surface geochemical anomalies.
The depth limits of the RC drill rig (200m) meant that the deeper
geophysical targets could not be tested and deeper testing of the
geologic model based on surface and downhole geochemistry, remains
a priority.
Based on results from this program, diamond core
hole locations have been finalized and contractor Omineca Drilling
will be mobilized to the site shortly to begin a diamond core
program to test these deeper targets.
Mike Devji, CEO states: “We are pleased with
these results, as they demonstrate a large area of encouraging
mineralization. We will follow up by diamond drill testing of all
three zones, and are particularly excited to test the Central and
West Zones with deeper diamond drill holes as our exploration
efforts to-date clearly show that there is excellent potential for
a deeper copper-gold porphyry system. The size of this project
makes drill targeting an involved process, and we continue to be
impressed with our early-stage exploration results.”
West Zone: PY-17-08 was drilled
to intersect anomalous copper and gold surface rock and soil
geochemistry as well as targeting an area of moderate chargeability
between two chargeability high’s. This hole encountered 6.62m of
0.25 g/t Au. PY-17-09 was drilled into a 500m wide shallow
chargeability high in the western portion of the West Zone. It
returned encouraging copper mineralization with 21.32m of 0.09% Cu
from 67.06m including 9.14m of 0.13% Cu. Chip logging determined
the presence of strong QSP (Quartz-Sericite-Pyrite) alteration
within the drill hole.
|
|
|
|
|
|
|
|
|
Target |
Drill Hole |
From |
To |
Length (m) |
Cu ppm |
Cu % |
Au ppb |
Au g/t |
West Zone |
PY-17-08 |
16.76 |
83.82 |
67.06 |
257 |
0.03 |
52 |
0.05 |
|
including |
77.2 |
83.82 |
6.62 |
218 |
0.02 |
245 |
0.25 |
West Zone |
PY-17-09 |
67.06 |
88.38 |
21.32 |
891 |
0.09 |
29 |
0.03 |
|
including |
79.25 |
88.39 |
9.14 |
1268 |
0.13 |
16 |
0.02 |
|
|
|
|
|
|
|
|
|
Central Zone: Drill holes
PY-17-01 through PY-17-03 were drilled into the Central Zone to
investigate an area mostly covered in overburden, with anomalous
copper-in-soil geochemistry and coincident near-surface to deep
chargeability highs. This drilling confirmed the presence of a new
porphyry copper mineralized body with intense QSP alteration in
PY-17-03 grading into propylitic alteration
(Epidote-Chlorite-Carbonate-Pyrite) in PY-17-01 and PY-17-02, all
noted in thin section. Drill hole PY-17-03 returned low grade
intercepts but did show anomalous copper throughout most of the
drill hole with up to 0.06% Cu from 152.4 to 153.92m. The drill
hole was completed to a depth of 164.59m with both copper and
sulfur increasing with depth. The Company is encouraged by
these results as they confirm that the Central Zone represents a
new porphyry system that will be tested at depth with diamond
drilling.
East Zone: Two RC holes were
drilled to cross cut surface rock sampling up to 11.6 g/t Au.
Drill holes PY-17-04 and PY-17-05 both encountered Argillic
(Clay-Pyrite) alteration as well as QSP alteration. The results are
summarized below in Table 1. This drilling confirms the presence of
wide spread gold ± copper mineralization. The most significant
intercept were 28.95m of 0.28 g/t Au in hole PY-17-04, which
included 4.57m of 1.43 g/t Au and 91.44m of 0.12 g/t Au which
included 4.57m of 0.94 g/t from shallow depths in PY-17-05. This
zone remains a target for future diamond drilling.
|
|
|
|
|
|
|
|
|
Target |
Drill Hole |
From |
To |
Length (m) |
Cu ppm |
Cu % |
Au ppb |
Au g/t |
East Zone |
PY-17-04 |
19.89 |
77.7 |
57.81 |
184 |
0.02 |
153 |
0.15 |
|
Incl. |
19.89 |
48.84 |
28.95 |
179 |
0.02 |
279 |
0.28 |
|
Incl. |
19.89 |
24.46 |
4.57 |
215 |
0.02 |
1426 |
1.43 |
East Zone |
PY-17-05 |
28.96 |
120.4 |
91.44 |
278 |
0.03 |
124 |
0.12 |
|
Incl. |
28.96 |
33.53 |
4.57 |
106 |
0.01 |
938 |
0.94 |
|
Incl. |
85.34 |
102.11 |
16.77 |
841 |
0.08 |
196 |
0.20 |
|
Incl. |
117.35 |
120.4 |
3.05 |
1285 |
0.13 |
894 |
0.89 |
|
|
|
|
|
|
|
|
|
Zone 37: Two drill holes;
PY-17-10 and PY-17-11 in this prospective zone did not return any
significant intercepts with gold mineralization.
ABOUT OK2 Minerals Ltd.
OK2 Minerals Ltd. is a Canadian-based junior
exploration company comprised of highly qualified mining
professionals with two very prospective copper-gold exploration
projects, the Pyramid Project and the Kinskuch Project, both
located in northwestern British Columbia in close proximity to, or
within the “Golden Triangle”.
ON BEHALF OF THE BOARD OF OK2 MINERALS
LTD.
Per: “Minaz Devji” Minaz Devji, CEO and Director
This news release was prepared by Company
management, who take full responsibility for its content. George
Cavey P.Geo, Director, is a Qualified Person as defined by National
Instrument 43-101 of the Canadian Securities Administrators and has
reviewed and approved the technical disclosure in this release.
The RC rock chip samples were prepared at the
ISO certified SGS Canada Minerals in Burnaby, B.C. and analyzed at
the SGS Canada Minerals facilities in Burnaby using a GE-IC14A
procedure. IC14A is an Aqua Regia Digestion with an ICP-MS finish.
The company routinely inserted known commercially prepared
standards every 10th sample and did not detect any QC/QA concerns
from the analytical results.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
OK2 Minerals
Mike Devji
(604) 258-8666
mike.devji@ok2minerals.com
Investor Relations
Kin Communications
1-866-684-6730 (toll-free)
ok@kincommunications.com
OK2 Minerals Ltd (TSXV:OK)
Historical Stock Chart
From Jun 2024 to Jul 2024
OK2 Minerals Ltd (TSXV:OK)
Historical Stock Chart
From Jul 2023 to Jul 2024