MPD
MPD Copper-Gold Porphyry Project
- 9,733 hectare (97.3 km2) land package in South-Central British Columbia, Canada; 100% owned
- Porphyry project consolidated from three properties (Man, Prime, Dillard); never explored as single project with modern methods
- In a known, productive copper-gold porphyry belt; nearby mines with similar host rocks (Highland Valley, Copper Mountain, Mt. Milligan, New Afton)
- Adjacent to highway with year-round access by service roads
Project Summary
- 129 drill holes (25780 m) completed from 1966 to 2014. Previous operators include Rio Tinto PLC (LSE:RIO) and Newmont Mining Corp (NYSE: NEM)
- Numerous showings; copper confirmed to-date across a large, 10km2 area
- Favourable gold-to-copper ratios
- Large, untested Cu and Au soil anomalies are near-term drill targets
- Mineralization from surface, historic drill holes rarely tested below 200m vertical depth
- Limited deeper drilling confirms significant depth/size potential
- 2019 maiden drill program: discovery of Gate Zone, 102m of 0.53% Cu & 0.16 g/t Au (0.68% CuEq*), best hole in 50-year history of the property
- 2020 drill program: discovery of central high-grade copper-gold zone within wider mineralized envelope at Gate Zone
- Best intercept of 535m of 0.49% Copper and 0.29 g/t Gold (0.76% CuEq**), including 282 m of 0.70% Copper and 0.49 g/t Gold (1.16% CuEq), including 45.7 m of 1.41% Copper and 1.46 g/t Gold (2.75% CuEq**)
The MPD Project is located in the Quesnel Trough, British Columbia’s primary copper-producing belt that hosts Teck Resource’s world-class Highland Valley Mine, Imperial Metals’ Mount Polley Mine, and Centerra Gold’s Mount Milligan Mine (see Table 1). The MPD project’s Nicola Belt geology has many similar characteristics to the neighbouring alkalic porphyry systems at the Copper Mountain Mine to the south and New Gold’s New Afton Mine to the north.
Table 1: Proven and Probable Reserves – Selected Quesnel Trough Copper Porphyry Mines
| Property | Date | Operator | Tonnes | Copper Grade | Gold Grade | Silver Grade |
|---|---|---|---|---|---|---|
| (as at) | (millions) | (% Cu) | (gram per tonne) | (gram per tonne) | ||
| Mount Milligan1 | Dec-19 | Centerra Gold | 191 | 0.23 | 0.39 | – |
| Copper Mountain2 | Jan-20 | Copper Mountain | 413 | 0.24 | 0.11 | 0.76 |
| Mt. Polley3 | Sep-19 | Imperial Metals | 54 | 0.34 | 0.3 | 0.9 |
| Highland Valley4 | Dec-19 | Teck Resources | 484 | 0.31 | – | – |
Sources:
- https://www.centerragold.com/operations/mount-milligan/production-and-reserves
- https://www.cumtn.com/operations/copper-mountain-mine/overview/
- https://imperialmetals.com/assets/docs/ops/reserve-resource-summary.pdf
- https://www.teck.com/investors/reserves-&-resources/
Jeff Ward, P.Geo, and VP Exploration of the Company is a “Qualified Person” as defined under NI 43-101 has reviewed and approved the technical content of this web page.
* Metal prices used to calculate Cu Equivalent (% CuEq) are: Au $1800/oz, Ag $19/oz & Cu $2.90/lb
** Metal prices used to calculate Cu Equivalent (% CuEq) are: Au $1500/oz, Ag $16/oz and Cu $2.60/lb. All values report in USD and do not consider metal recoveries Copper equivalent grades (%CuEq) are for comparative purposes only. All values report in USD and do not consider metal recoveries.
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