Drilling by Crazy Horse Resources at the Taysan copper-gold-silver porphyry project has returned a very large interval of mineralization with significant silver grades.
Results from the drilling program to date continue to support the company's belief in the presence of a significant copper-gold-silver deposit.
The 11th hole of the feasibility drill program returned 434 metres from 30 metres @ 0.36% copper, 0.14 grams/tonne gold and 1.57 grams/tonne silver, including a higher grade near surface zone of 270 metres @ 0.46% copper, 0.25 grams/tonne gold and 2.03 grams/tonne silver. It included 4 metres from 196 metres @ 0.9% copper, 0.47 grams/tonne gold and 3.5 grams/tonne silver; 12 metres from 222 metres @ 0.75% copper, 0.34 grams/tonne gold and 3.9 grams/tonne silver; and 4 metres from 258 metres @ 0.77% copper, 0.16 grams/tonne gold and 4.5 grams/tonne silver.
Crazy Horse's president and CEO Johan Raadsma says, “We are extremely excited about this very large interval of mineralization with the addition of significant silver grades, which historically have not been incorporated into the project valuation. We also look forward to exploration results in the near future.”
A scoping study report on Taysan is on track for completion early this month to be followed by a NI 43-101 compliant copper resource report.
A pre-feasibility and bankable feasibility study will begin on March 14 and is expected to take 18 months to complete. The study is already ahead of schedule as infill drilling started in January using five diamond drill rigs, one of which is now drilling a proximal target that could confirm an extension to the current Taysan project.
Drilling is being carried out by Quest Exploration Drilling (Philippines) using Edson 3000 and LF70 drill rigs and a triple tube diamond core drilling system.
The project comprises two mining exploration permits and three mining exploration permit applications over five contiguous claim blocks covering a combined total area of 11,254 hectares. It is in southern Luzon in a well-developed mining province and readily accessible by road. It is 20km east of the provincial capital and deep-water commercial port of Batangas City.