The decision to extend the option was based in part on reprocessing of airborne VTEM™ (Versatile Time Domain Electromagnetic) data, which has identified seven priority conductivity anomalies located adjacent to current known VMS (Volcanogenic Massive Sulphide) copper, zinc, gold, silver mineralized zones. The work is discussed in a report prepared by Caracle Creek International Consulting Inc. (“Caracle Creek”) and Orix Geoscience Inc. (“Orix”), (see news release of July 9, 2015). That report integrated over 400 line km of reinterpreted geophysical source data collected on the property since 2006, along with a large volume of existing historical geological, geochemical, trenching and drilling data from over 300 holes drilled to date.
Among other conclusions, the report states that geophysical inversion modelling of induced polarisation and resistivity (“IP-Res”) data identifies numerous chargeable and conductive anomalies on the property aligning with currently defined near surface mineralized zones, with the potential that the mineralized zones remain open along strike in both directions. Additionally, the results have identified new targets.
In light of the Caracle Creek and Orix report, Copper Lake is designing its next program to further prioritize the VTEM™ target areas, all of which lie adjacent to existing mineralized zones.
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