Excelsior Mining has announced the assay results of the first set of holes from the Gunnison Copper Property present in the copper porphyry belt in southern Arizona.
The Phase I drilling program comprises 10,000 meters of drilling and initial hydrological and metallurgical analysis.
Core from NSD-1: 902 feet to 918 feet
Gunnison property includes the National Instrument (NI) 43-101 inferred resource of 4.77 billion pounds of copper that stays open for extension. The first three holes are showing the width and grade of the deposit continuously. The company expects to use the showings for upgrading the resource from the inferred to the indicated group. The western area of copper mineralization will be described by the holes NSD-01 and NSD-03.
As a result of the encouraging assays, the company has begun this drill program. The drilling core is broken adequately, besides high grades and thickness. This core is a key to develop an in-situ copper recovery project.
The NI 43-101 resource has above two-thirds of the copper that is present in the form of copper oxide. This is explored through in-situ recovery (ISR) methods. The deposit is of a fractured nature, which lets fluid to progress through and take out the copper.
Skyline Assayers and Laboratories in Tucson, Arizona will analyze the split drill core samples for copper.