Crazy Horse Resources has reported the assay results from the final 49 holes drilled during all the resource drill campaign at the Taysan project, which has porphyry copper, gold and silver. The company has drilled 36,494 m at the project.
Location Map of Drill Collars for all Crazy Horse Drill Holes
The company intersected 0.83% copper, 0.63 g/t gold, 3.38 g/t silver over 98.4 m and 0.41% copper, 0.25 g/t gold, 1.61 g/t silver over 326.4 m in the hole CZT 047, 1.44% copper, 4.15 g/t gold, 8.00 g/t silver over 28 m, 0.74% copper, 1.42 g/t gold, 3.30 g/t silver over 92 m and 0.38% copper, 0.47 g/t gold, 1.34 g/t silver over 428 m in the hole CZT 073, 0.31% copper, 0.10 g/t gold, 1.07 g/t silver over 309 m in the hole CZT 077, 0.33% copper, 0.14 g/t gold, 1.24 g/t silver over 287.4 m in the hole CZT 087 and 0.47% copper, 0.26 g/t gold, 1.49 g/t silver over 113.5 m in the hole CZT 093.
Currently, the company has completely drilled the deposit to the standard essential for a bankable feasibility study. The drilling results will outline the pre-feasibility study basis, which will be completed during second quarter of 2012.
The company has obtained funds in order to complete the pre-feasibility study at the mining project, which is newly designed. This project is calculated to produce copper and gold of more than 40,000 t and 57,000 oz yearly and also magnetite and silver by-products.
It will file a request in early January of 2012 for changing the exploration permit to a mine permit, according to the Philippine Mining Act of 1995.