Reviewed by Alex SmithNov 30 2022
Goat Industries Ltd. has announced the acquisition of additional claims (Additional Claims) near American Eagle Gold Corp.’s (American Eagle Gold) copper mineralized NAK discovery (NAK Copper Discovery), which is situated approximately 85 km from Smithers, British Columbia.
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The Additional Claims include a historic British Columbia Minfile occurrence to the northeast of the previously reported NAK Copper Discovery, which adds to the Company’s newly acquired additional claim block in the immediate vicinity.
American Eagle Gold published findings from their maiden drill hole at the NAK Copper Discovery on November 7th, 2022, indicating 125 m of 1.02% copper equivalent from the surface within 851 m of 0.33% copper equivalent.
Following that, The Boliden Group entered the region with a deal to purchase up to a 70% stake in the Duke Copper-Gold District by contributing up to $90 million in expenses, as revealed on November 22nd, 2022.
A historic occurrence documented under British Columbia Minfile 093N 108 is included in the Additional Claims. It reports, “…chip samples of partially oxidized material from three shallow pits, 1.5 to 2.4 m deep, returned copper values of 0.05 to 0.38% (Property File Cyprus Anvil M.C. Erskine Jr., 1966)” and “…locally, trace to 0.3% disseminated to blebby and fracture-filling chalcopyrite associated with pyrite and pyrrhotite have been identified in potassic-altered intrusives over an area of approximately 488 by 975 m.”
The area is a recognized porphyry copper–gold district that includes the NAK Cooper Discovery, Morrison, Dorothy, Duke, and the past producing Bell Copper Mine, in addition to several historical occurrences, including one documented on the Additional Claims that has yet to be explored using modern-day porphyry copper exploration methods.
According to publications by the US Geological Survey and authors Sillitoe and Zhu, porphyry copper-gold deposits are known to be found in clusters around the world.
Copper is a significant industrial material utilized in the manufacture of electric vehicles, the fabrication of electric vehicle batteries, and the infrastructure required to power electric vehicles and industrialization around the world.