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The precious metal has fallen about 8% from a record high on Oct. 31, with losses accelerating after Trump’s election victory last week.
Vancouver-based Rockridge Resources reports drilling high-grade, near-surface copper mineralization at the Knife Lake property 50 km northwest of Sandy Bay. Rockridge has an option with Eagle Plains Resources to acquire 100% interest in the historic property.
Drill hole KF19001 intersected net textured to fracture controlled sulphide mineralization between 7.5 to 40.6 metres, returning 33.1 metres of 1.28% copper, 0.12 g/t gold, 4.80 g/t silver, 0.13% zinc, and 0.01% cobalt for an estimated 1.49% copper equivalent.
Drill hole KF19002 intersected net textured to semi-massive sulphide mineralization between 9.7 to 53.5 metres, returning 43.8 metres of 0.78% copper, 0.07 g/t gold, 2.54 g/t silver, 0.07% zinc, and 0.01% cobalt for an estimated 0.93% copper equivalent.
Rockridge noted that anomalous gallium of up to 23.1 ppm and indium of up to 15.2 ppm were present in both drill holes, confirming the results of historical drilling.
The Knife Lake property was extensively explored from the late 1960s to the 1990s, with the last documented work program completed in 2001.
(This article first appeared in the Canadian Mining Journal)
