RC Drilling Confirms Porphyry System at Pyramid Copper-Gold Target, Company Plans Large Drill Program in Q2
12.01.2017 | Marketwire
VANCOUVER, Jan. 12, 2017 - OK2 Minerals Ltd. (TSX VENTURE:OK) (the "Company") is pleased to announce results from the 2016 reverse circulation (RC) drilling program on its 100% owned Pyramid copper-gold property located near Dease Lake, B.C.Four holes were completed, with extreme winter conditions constraining the fifth hole prior to reaching its target depth. All samples were analyzed by SGS Labs in their Vancouver laboratory.
All drill holes intersected anomalous intervals of mineralized intrusive rocks. In addition to analyzing the entire hole, each hole was scanned by a Terraspec Halo hand held instrument (used to identify relative temperature of formation between certain minerals) to identify if gold mineralization is associated with hydrothermal alteration. The Terraspec readings confirm that the gold mineralization at Pyramid is consistent with hydrothermal alteration commonly occurring in porphyry copper-gold systems. These readings also confirm that the copper at Pyramid comes from a primary porphyry environment.
The following is a summary of the analytical results from each hole. Importantly, all holes hit anomalous mineralized intervals and coupled with the results from the TerraSpec analyses, demonstrate that the RC drilling was successful in helping target proposed diamond drill hole locations. As a result, management is planning a significant drill program to follow up on the 2016 drill program in Q2 2017.
RC Drilling Results
Hole # Depth
(m) From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu (%) Target
PY-16-1
108.2 16.77 24.39 7.62 0.01 0.10 0.09 Chargeability High
including 18.29 22.86 4.57 0.02 0.14 0.12
and 48.77 50.29 1.52 2.50 40.30 0.02
PY-16-2
153.9
45.73 94.5 48.77 0.03 0.08 0.02 Quartz Stockwork, increased silicification
including 80.78 94.5 13.72 0.05 0.12 0.02
Hole # Depth
(m) From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu (%) Target
PY-16-3 173.4 91.44 97.53 6.09 0.20 0.15 0.02 Chargeability High
PY-16-4
173.7 77.72 140.21 62.49 0.04 0.03 - Alteration and Chargeability High
including 103.63 118.87 15.24 0.10 0.03 -
PY-16-5
54.7 0 54.73 54.73 0.07 0.08 0.02 Chargeability High and High
Surface Cu values
including 1.52 13.68 12.16 0.20 0.15 0.03
These drill results are very encouraging for locating disseminated gold mineralization at Pyramid. Since gold is more mobile than copper, it would be expected to see relatively higher gold values distal to a copper-gold porphyry deposit. Hole PY-16-5, the final hole of the shortened program was only drilled to 55m and was targeted on a large, deep chargeability anomaly. Given the moderate to high grade surface samples in the surrounding area, this is now our main area of interest at the West Zone. Drilling also proved the hypothesis that the finer grained diorite porphyry was responsible for mineralization and intrudes the megacrystic unit.
The Pyramid project was staked in 2013 following up on anomalous regional stream geochemical sampling completed by the BC government in 1980 and detailed exploration has demonstrated the porphyry copper-gold potential for this under explored project located in the highly prospective Quesnel Terrane in Northwest B.C. Nearby projects include the Red Chris and Galore Creek Cu-Au deposits.
The Company's CEO Minaz Devji comments: "The work done at Pyramid in 2016 continues to demonstrate its potential for extensive porphyry style copper-gold mineralization. We are very excited about the drilling we plan to do in 2017 as we continue to explore this very prospective ground."
The Company will be hosting a conference call to discuss the results contained in this News Release. The conference call will be held on Thursday January 12, 2017, at 6:00am Pacific Time (9:00AM EST).
An accompanying presentation for the call will be available on the corporate website at www.ok2minerals.com
Details of the conference call:
Title: OK2 Minerals Drill Results Conference Call
Date: Thursday January 12, 2017
Time: 6:00 a.m. Pacific Time
North American dial-in number: (866) 521-4909
International dial-in number: (647) 427-2311
A playback of the conference call will be available by calling toll free: 1-866-521-4909
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 on or within the "Golden Triangle".
ON BEHALF OF THE BOARD OF OK2 MINERALS LTD.
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.
This news release contains forward-looking statements including in connection with the timing of future work programs. These statements reflect management's current assumptions and expectations. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and OK2 Minerals undertakes no obligation to update such statements, except as required by law.
Contact
OK2 Minerals
Mike Devji
(604) 258-8666
mike.devji@ok2minerals.com
Investor Relations
Kin Communications
1-866-684-6730 (toll-free)
ok@kincommunications.com