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Coventry Resources Ltd.
Summary
| Project: | Caribou Dome | |
|---|---|---|
| Deposit: | Caribou Dome | |
| Location: | United States | |
| Commodities: | Copper | |
| Date: | 11/8/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 8-11-2016: Coventry Resources Ltd. announces an Exploration/Drilling Update report for its Caribou Dome deposit at the Caribou Dome project. Drilling results incl. 11.4m @ 6.7%% Cu from 70.2m. Coventry Resources Limited (ASX:CYY; “Coventry” or “the Compan | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Ben Vallerine (Internal) | |
| ABSTRACT: | Coventry Resources Limited (ASX:CYY; “Coventry” or “the Company”) is pleased to announce it has received analytical results for the final 13 of 22 holes drilled recently at the high‐grade Caribou Dome Copper Project in Alaska, USA (“Project”). 6,520m of diamond core drilling were completed at the Project between June and October 2016. The objectives of the drilling program were to (i) increase the potential resource base at the Project and (ii) to improve the understanding of the grade, thickness and distribution of the shallow mineralisation identified to date so that development of a potential initial starter high‐grade open pit operation can be assessed with greater confidence. These holes provide for a much better understanding of the controls on the distribution of mineralisation in the central portion of the Deposit where the majority of shallow, potentially open‐pittable mineralisation is located. This will facilitate more reliable modelling of the development of a potential high‐grade, low‐CAPEX starter open pit, the potential of which has been enhanced by the success of the recent drilling program. Recent drilling hasincreased the strike extent of mineralisation at the NE end of the Deposit by more than 120m, while also demonstrating high‐grade mineralisation extends to more than 300m depth in this area. Three shallower holes were drilled in this area in the second part of the recent drilling program, all of which intersected significant mineralisation. Accessibility in this area is more difficult than in the central and western portion of the Deposit. Hence to date not all holes have been optimally sited. Further earthworks and drilling, particularly to better define shallow mineralisation, will be undertaken in due course. It is also noted that all of the holes in this area were inclined holes drilled in the same orientation as down‐slope topography – hence the depth of mineralisation below surface is invariably considerably less than depth of mineralisation intersected down hole (as reported). | |
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