CAVU Mining (CSE: CAVU) has discovered a new copper porphyry area at the Hopper copper-gold property in the Yukon.
The company says the alteration and grade are indications that the new occurrence is located on the margin of a large copper-molybdenum porphyry. Hole HOP21-06 intersected 116.2 metres grading 0.21% copper and 1.3 g/t silver from surface, including 90.2 metres at 0.24% copper and 1.4 g/t silver. The highest grade copper intersections were 1.6 metres at 1.6% copper beginning at 185.4 metres downhole and 2.5 metres at 1.4% copper beginning at the surface.
Hole HOP21-06 was the first hole CAVU drilled in the area that intersected primary porphyry mineralization. CEO Jaap Verbaas called it “transformational”, saying, “We are proud to have substantially increased the potential of the Hopper Project and today’s results give our technical team a clear path for follow up diamond drilling in 2022.”
CAVU has already drilled high-grade copper-gold mineralization in several skarn horizons elsewhere on Hopper. The skarn mineralization occurs in the South zone over an area of 1,200 x 800 metres and to a depth of 400 metres. It is open to the east, west and south. To the north it is cut by the Hopper pluton. Skarn horizons continue north of the pluton, but these targets have not yet been drilled.
Drilling in the South zone has returned 15 metres of 0.5% copper, 2.7 metres of 0.95% copper, 8.5 metres of 1.62% copper, 7.8 metres of 2% copper, 12.7 metres of 1.1% copper, and 18.6 metres of 1.94% copper.
CAVU can earn a 70% interest in Hopper by making payments of C$700,000 and 250,000 shares over four years to owner Strategic Metals (TSXV: SMD). The project is located in the traditional territory of the Champagne and Aishihik First Nations.
(This article first appeared in the Canadian Mining Journal)