Giant Mining’s Review of Geological Work from 2020-2023 on the Flagship Majuba Hill Porphyry Copper Deposit, Nevada
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*Press Release May 21, 2024
Giant Mining’s Review of Geological Work from
2020-2023 on the Flagship Majuba Hill Porphyry
Copper Deposit, Nevada
VANCOUVER, BC — May 21, 2024 — Giant Mining Corp. (CSE: BFG | OTC:
BFGFF | FWB: YW5) (“Giant Mining” or the “Company”) is pleased to announce
a summary of our progress at the Majuba Hill Porphyry Copper Deposit ( "Majuba
Hill") a copper, silver, and gold project located in Pershing County, Nevada from
2020 to 2023.
This period was marked with significant advancements in exploration and geological
understanding of our flagship project, reinforcing the Company ’s commitment to
developing sustainable and highly productive exploration operations.
David Greenway, President, and CEO of Giant Mining Corp., commented, "The
strategic exploration initiatives we've implemented over the past few years at Majuba
Hill are bearing fruit, as dem onstrated by our impressive drilling results and the
expansion of mineralized zones. This success underpins our confidence in Majuba
Hill's potential to become a cornerstone of America’s copper supply, essential for the
burgeoning renewable energy sector."
2020 Overview
The year 2020 laid the groundwork for Giant Mining Corp.'s intensified exploration
activities at Majuba Hill. With the completion of advanced geophysical surveys and
strategic core drilling, the Company identified multiple zones of high-grade copper,
silver, and gold mineralization. Key highlights include the discovery of a new copper
porphyry center and substantial expansions in the Company's soil geochemistry
coverage, as detailed in Table 1 and illustrated in Figure 1.
Activity Type Details Results
Soil Geochemistry
Expansion
Expanded coverage area for better
resolution of mineralization.
Identified new zones with high Cu and
Ag potential.
Deep Core Drilling Initiation of deep core drilling to
test mineralization depth.
Confirmed extension of copper
porphyry at depth.
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Activity Type Details Results
Geophysical
Surveys
Conducted drone magnetic survey
to outline large intrusive
complexes.
Outlined new copper intrusive centers
significant for exploration.
Discovery of
Copper Porphyry
New copper porphyry center
discovered through targeted
drilling.
High-grade copper zones confirmed,
enhancing the overall asset value of
Majuba Hill.
Table 1: Summary of 2020 Geological Activities and Findings at Majuba Hill
Porphyry Copper Deposit
Figure 1: Historic exploration data includes drilling, surface rock chip
sampling, and surface soil sampling.
2021 Developments
In 2021, the Company's geological team focused on deepening geological
understanding and expanding the known mineralized zones. The integration of
different drilling techniques and the extensive private land led to the discovery of
additional copper oxide zones and the confirmation of the deposit's depth extension.
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Noteworthy progress includes the successful drilling of two deep core holes, which
continued to reveal the deposit’s potential at greater depths.
Core holes MHB -20 (1017 ft/310 meters) and MHB -22 (1802.5/549.4 meters)
discovered the previously unknown granodiorite and diorite intrusive. The rhyolite
intrusive, which hosts mineralization in the historic mine area at Majuba was found
in cross-cutting relationship with the granodiorite and diorite. Multiple overlapping
porphyry alteration events were noted throughout the granodiorite core. In addition
to widespread propylitic and phyllic alteration their appears to be extensive potassic
alteration and magnetite bearing quartz veining. Additionally, a second type of
tourmaline has been noted. The relationship of the granodiorite and the rhyolite
intrusive combined with the widespread IP geophysics indicate very high potential for
a large, copper porphyry at Majuba Hill.
MHB-22 intersected anomalous copper at 1704 feet (519.3 meters) with 70 feet (21.3
meters) greater than 100 ppm.
2022 Achievements
The year 2022 was transformative for Majuba Hill, marked by the completion of the
most ambitious drilling program to date and the initiation of a comprehensive long-
term environmental planning program. The Company reported the longest intercepts
of copper mineralization ever drilled at Majuba Hill, alongside significant findings of
silver, gold, and molybdenum. These results have been crucial to refining the
Company's exploration targets, as shown in Table 2 and Figure 2.
Result Highlights
MHB-27: 1136 ft (346.3 m) @ 0.25% CuEQ starting at 710 ft (216.4 m) including:
834 ft (254.2 m) @ 0.31% CuEQ from 750 to 1584 (228.6-482.8 m)
119 ft (36.3 m) @0.14% CuEQ from 1727-1846 ft (526.4-562.7m)
MHB-28: 1287 ft (392 m) @ 0.30% CuEQ starting at 245 ft (74.7 m), including:
652 ft (198.7 m) @ 0.33% CuEQ from 595 to 1247 ft
192 ft (58.5 m) @ 0.21% CuEQ from 1340 to 1532 ft
105 ft (32 m) @ 0.18% CuEQ from 1542 to 1647 ft
MHB-29: Intersected granodiorite porphyry at 3403 ft (1037 m). The entire hole is
mineralized with 3607 ft (1099.4 m) @ 0.05% CuEQ from 0 to 3607 ft.
Strong potassic alteration that is overprinted by pervasive propylitization.
Zoning within the Majuba Target Zone indicates MHB -29 is southwest of th e
main mineralized zone.
Intersected 26 intervals greater than 0.20% CuEQ.
MHB-27 is mineralized throughout the entire hole with 3500 feet (1066.8 m) @
0.18% CuEQ1 from 0-3500 feet (0-1066.8 m).
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Further details can be found in January 23, 2023 new release Majuba Hill Copper
Reports 2022 Core Results.
Figure 2: Cross Section 375879E: Holes MHB-27 and MHB-29
Drill Hole Total
Mineralization
Details Including Depth and CuEQ1
Percentages Additional Notes
MHB-27
1136 ft (346.3 m)
@ 0.25% CuEQ
starting at 710 ft.
(216.4 m)
- 834 ft (254.2 m) @ 0.31% CuEQ
from 750 ft to 1584 ft (228.6-482.8
m) - 119 ft. (36.3 m) @ 0.14% CuEQ
from 1727 ft to 1846 ft (526.4-562.7
m)
Supergene enrichment down to at
least 1420 ft (432.8 m). Presence of
“A,” “B, and “D” type veins. Trace
element geochemistry zoning (Mo,
Zn, Bi)
MHB-28
1287 ft (392 m)
@ 0.30% CuEQ
starting at 245 ft.
(74.7 m)
- 652 ft (198.7 m) @ 0.33% CuEQ
from 595 ft to 1247 ft. - 192 ft. (58.5
m) @ 0.21% CuEQ from 1340 ft to
1532 ft. - 105 ft (32 m) @ 0.18%
CuEQ from 1542 ft to 1647 ft.
Same as MHB-27
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Drill Hole Total
Mineralization
Details Including Depth and CuEQ1
Percentages Additional Notes
MHB-29
3607 ft (1099.4
m) @ 0.05%
CuEQ from 0 to
3607 ft.
Intersected granodiorite porphyry at
3403 ft. (1037 m)
Located southwest of the main
mineralized zone. Strong potassic
alteration with pervasive
propylitization. Intersected 26
intervals >0.20% CuEQ
Table 2: The table provides a structured summary of the mineralization
details, including depth and copper equivalent percentages for each drill
hole, as well as additional geological insights and characteristics common to
the three drill holes. (1Copper equivalent (CuEQ) values were calculated by
combining the assay values for copper, silver, gold, molybdenum, lead, and
zinc using an interval-weighted calculation based on metal prices taken from
Kitco.com and DailyMetalPrice.com on July 27, 2022.)
2023 Milestones
The year 2023 was transformative , Giant Mining Corp. has not only expanded its
drilling efforts but also significantly enhanced the geological map of Majuba Hill.
These efforts have resulted in a clearer understanding of the deposit's mineralization
controls and the potential for further expansion of copper mineralization. The ongoing
work continues to underscore the robustness of Majuba Hill as a leading copper,
silver, and gold district.
The completion of the NI 43 -101 report not only affirmed the pre vious findings but
also identified additional exploration targets. This pivotal document has provided the
Company with a clear path forward to potentially elevate (advance?) Majuba Hill from
an exploration project to a mine development project. Insights into this significant
development are provided in the September 18, 2023 news release NI 43 -101
Provides Insight into Additional Targets at Majuba Hill Porphyry Copper Project in
Nevada.
The Report was authored by Jeffrey M. Bickel, C.P.G., Senior Geologist, RESPEC
Company LLC, Reno, NV ( “RESPEC”). The full Report dated June 20, 2023 is
available on the Company ’s website and the Company’s SEDAR+ Issuer profile
at SEDAR+ Website.
The Nevada Project contains historic underground mines that produced 2.8 millio n
pounds of copper. In the NI43-101 Report: “Technical Report for the Majuba Hill
Copper Project, Pershing County, Nevada, USA ”, Jeffrey M. Bickel, C.P.G.
described the copper mineralization and developed a 3D block model that measured
50 million tonnes to 100 million tonnes of copper mineralization ranging from 0.15%
Cu to 0.30% Cu , with potential for a higher -grade zone of 10 million tonnes to 20
million tonnes grading between 0.40 % Cu and 0.80% Cu. This outlines an initial and
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significantly expandable potential of 660 million pounds of copper. Copper hit an all-
time high of $5.13 per pound on May 15th, 2024. 1
Figure 3: Copper - USD/lb.
Model (1)
Tonnage Range
Tonnes
(Bickel, 2023)
Grade Range Copper
(%)
(Bickel, 2023)
Copper Range
(pounds)
Calculated
Exploration Target - All 50,000,000 to 100,000,000 0.15% to 0.30% 165,000,000 to
660,000,000
Exploration Target -
High Grade 10,000,000 to 20,000,000 0.40% to 0.80%
88,185,000
to
352,739,000
(1) The ranges of tonnage and grade of the exploration target are conceptual in nature and could
change as the proposed exploration activities are completed.
Table 3: Summary of Exploration Targets at Majuba Hill by Bickel (2023):
Tonnage and Copper Grade Estimates
E.L. "Buster" Hunsaker III, CPG 8137, a non-independent consulting geologist for the
company, added, "The geological data we've collected from 2020 to 2023 has been
instrumental in enhancing our understanding of the Majuba Hill deposit. The
1 Sourced Online: https://tradingeconomics.com/commodity/copper
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consistency and richness of the mineralization confirm the exceptional quality and
promise of this site."
Exploration
An exploration corridor has been identified as a key focus area, integrating insights
from both recent and historical drilling, geochemical analysis, and geophysical
surveys. Core drilling has revealed a substantial oxide zone that outcrops at the
surface and reaches depths of up to 1,804 ft. (550 m). Notably, this zone overlies
deeper segments where native copper indicates significant mineral enrichment.
Looking forward to this year and beyond , the Company is preparing for a pivotal
exploration year in 202 4. The company plans extensive drilling operations to
thoroughly investigate the vertical and lateral extents of copper mineralization. These
enhanced exploration efforts are poised to play a crucial role in delineating the full
potential and guiding the future development of the Nevada Project.
Figure 4: MHB-9:980 ft (298.6 meters) Native Copper
Figure 5: MHB-2: 111.5 to 120.5 feet (34.0 to 36.7 meters)
Exploration Program 2024
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Giant Mining Corp. is allocating funds from the recently concluded Private Placement
towards advancing the Company's exploration and development initiatives, in
alignment with the recommendations provided in the June 2023 NI43-101 report.
The Company has c ommitted to drilling 16 reverse circulation (RC) holes and two
shallow core holes, which are designed to infill and expand the mineral potential. The
Company's exploration efforts will be further enhanced by the drilling of two deep
core holes, each reaching a depth of 3,500 ft. (1,066m). This significant investment
in deep-core drilling is crucial for accurately determining the vertical extent of the
mineralization, significantly enhancing the company's resource evaluation efforts.
Figure 6: Giant Mining grade domain with recent, historic and planned
drilling.
Additionally, Giant Mining Corp. is set to commence a comprehensive metallurgical
study to improve the understanding of the ore's characteristics and processing
efficiencies at Majuba Hill. A sequen tial copper analysis program will provide the
foundational metallurgical understanding of the copper deposit utilizing vast library
of existing pulps and core from earlier drilling. This program will cover the breadth
and depth of the deposit and optimize recovery methods and enhance the overall
efficiency and environmental compliance of the mining process.