DEEP drill testing at IG Copper’s Malmyzh Copper-Gold Porphyry Project emphasizes exploration upside with results including 417.3 metres averaging 0.60% copper equivalent. The program has focused on Freedom Northwest prospect, which is not in the current Malmyzh resource estimate.
|Logging core samples from the Malmyzh Copper-Gold Porphyry Project in Far East Russia.|
The 417.3 metre intersection included a sub-interval of 142.6 metres @ 0.74% copper equivalent, comprising 0.62% copper and 0.26 g/t gold.
It is the first deep drilling at Malmyzh as previous drilling has been concentrated on shallow mineralisation throughout the district.
The Malmyzh licences are held by IG Copper LLC (51%) and Freeport-McMoRan Exploration Corporation (49%), with IG operating and managing the project. EMX Royalty Corporation is IG’s largest shareholder with 39% of the issued and outstanding shares.
The 2017 diamond drill program at Freedom Northwest was designed to further test breccia pipe mineralisation initially recognised in late 2016 from a hole, which intersected 747.4 metres from 108.7 metres averaging 0.49% copper equivalent. Three subsequent holes have been drilled this year, for 2437.6 metres.
The 2017 drilling, combined with earlier Freedom Northwest drill results, suggests a broad, inferred outline of a pipe-like breccia body with approximate dimensions of 800 x 800 metres and a vertical dimension of about 650 to over 850 metres. The interpreted breccia pipe footprint generally coincides with a circular magnetic anomaly defined from recent high resolution ground magnetic surveys.
IG plans further follow-up at Freedom Northwest based upon the encouraging results from this initial round of deep drilling.
The high resolution magnetics data has been an important exploration tool for delineating drill targets at Freedom Northwest. Consequently, IG intends to utilise high resolution magnetics to explore for additional and higher grade mineralisation at the other porphyry centres in the district.
Malmyzh is in Far East Russia, approximately 220km northeast of the city of Khabarovsk and the nearby border with China.
Four resource deposits - Valley, Central, Freedom Southeast and Flats - have been the focus of previous work. The Malmyzh open pit inferred resources are 1.661 billion tonnes at average grades of 0.42% copper equivalent, containing 12.45 billion pounds of copper and 9.11 million ounces of gold.