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Granite Creek Copper Ltd.
Summary
| Project: | Stu | |
|---|---|---|
| Deposit: | Stu | |
| Location: | Canada | |
| Commodities: | Copper-Gold | |
| Date: | 1/16/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 16-1-2019: Granite Creek Copper Ltd. announces a Supporting Acquisition report for its Stu deposit at the Stu project. Summary of property in support of acquisition. This Technical Report on the Stu Copper Property (the Property) was prepared for Granite | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Deborah James, Graham Davidson (Independent) | |
| ABSTRACT: | This Technical Report on the Stu Copper Property (the Property) was prepared for Granite Creek Copper (“GCX” or the “Company”) a company incorporated in British Columbia, Canada with offices at 904-409 Granville Street, Vancouver B.C. The Property is in the Whitehorse Mining District of Yukon Territory near the town of Carmacks. This report has been prepared in compliance with National Instrument 43-101: Standards of Disclosure for Mineral Projects, Form 43-101F1 and Companion Policy 43-101CP to satisfy requirements for reactivation of the Company and an accompanying tier move from the TSX Venture exchange NEX Board to the TSX Venture main board - tier 2. On September 13, 2018 Granite Creek entered into an agreement with an arm's length vendor (William G. “Bill” Harris), under which the Company will acquire an undivided 100% interest in and to the STU Copper Project in Yukon Territory, Canada. Pursuant to the Agreement, Granite Creek will issue an aggregate of 3,000,000 units of the Company and grant a 3% net smelter return royalty on any future production at the Project to the Vendor in consideration for an undivided interest in and to the Project. The Agreement further contains a buy-down provision under which the Company shall have the right to reduce the royalty interest in exchange for cash payments to the Vendor. The co-author, G. S. Davidson visited the Stu Copper Property from Sept. 25-27, 2018 and supervised a 3 day work program performed by Longford Exploration Services Ltd. A camp was established on the Carmack’s Copper Road and ATV’s were utilized for access along an extensive 4x4 road network to the sample area in the southern section of the Stu Copper Property. A total of 166 soil samples were collected during the program for claim assessment purposes. The Stu Copper Property (the “Property”) is located approximately 47 km directly northwest of Carmacks, Yukon and 210 km directly northwest of Whitehorse, the capital of the Yukon Territory. The Property consists of 541 contiguous claims which cover approximately 11,081 hectares. The centre of the property is located at latitude 62° 24’ N and 136° 49’ W longitude on NTS map sheet 115I07. The Stu property is currently accessible by user-maintained gravel roads accessed off the seasonally maintained Freegold Road that leads northwest into the Dawson Range from the town of Carmacks. | |
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