Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Following a mapping and prospecting campaign in conjunction with a grid-based soil sampling program and follow-up rock channel sampling, Carube Copper (TSXV: CUC) reported the discovery of high-grade copper-silver mineralization at its Main Ridge Project in Jamaica.
Known for its initials MR, the project covers 30 square kilometres of the island country’s south-central region, an area where the Spaniards mined placer gold in the 16th Century.
The high-grade mineralization recently detected was found along the property’s Rio Minho Valley or RMV, which is located immediately northeast of and parallel to an area known as the Bennett Gold Zone.
In a press release, Carube provided some details of the findings and revealed that channel sampling at the Cobre Verde prospect returned 16.0m @ 1.22% copper + 7.8g/t silver including 8.0m @ 1.61% copper + 10.5g/t silver plus 4.0m @ 2.21% copper + 15.8g/t silver.
The miner also conducted channel sampling at the Lime Valley prospect, and this one returned 2.0m @ 6.07% copper + 19.4g/t silver and 2.0m @ 1.92% copper + 8.1g/t S silver.
“Carube’s mapping and sampling program continues to identify mineralized structures and veins at MR, and this latest discovery confirms the area is highly prospective for polymetallic style mineralization. The team are currently trenching and sampling across outcropping epithermal style gold mineralization at Donkey Hill and will continue prospecting along the RMV in search of additional high-grade polymetallic veins / structures,” the company’s CEO, Stephen Hughes, said in the media brief.
