GT Resources Drilling Intersects 2.4% Copper and 3.1 g/t Gold Near Surface at the Canalask Nickel-Copper Project
GT Resources Drilling Intersects 2.4% Copper
and 3.1 g/t Gold Near Surface at the Canalask
Nickel-Copper Project
Toronto, Ontario--(Newsfile Corp. - December 10, 2024) - GT Resources Inc. (TSXV: GT) (OTCQB:
CGTRF) (FSE: 7N1) (the
"Company"
or "
GT Resources
") is pleased to announce final diamond drill
assay results from the 2024 exploration campaign at the Canalask Nickel-Copper Project, Yukon,
Canada.
Highlights
1.84% Cu and 1.17 g/t Au over 6.1 meters
at a true depth of 140 meters (Hole CSK24-05).
including
2.4% Ni
and 3.10 g/t Au over 1.0 meters
.
Discovery of new potentially skarn-related copper-gold mineralization adds another positive
element to the property's existing nickel endowment.
Significant peridotite hosted nickel with highly anomalous platinum and palladium was intersected
within the ultramafic dyke.
This intercept confirms the Company's belief that the dyke is a fertile system and supports
the potential of massive and semi-massive deposition in a trap or embayment at the base of
the untested dyke.
0.26% Ni, 0.14 g/t Pd and 0.07 g/t Pt over 46.5m starting
at a true depth of 50 meters
(Hole CSK24-003)
Including
0.32% Ni, 0.33 g/t Pt and 0.15 g/t Pt
over 4.0 meters
Individual assays up to
0.57% Ni, 0.92 g/t Pd and 0.41 g/t Pt
over 1.0 meters (CSK24-004)
"Drill hole CSK-24-05 returned
2.0% nickel over 33.5 meters
(see news release
November 4, 2024
) in
the Footwall Zone, intersected a new copper-gold-rich style of mineralization below the historic Footwall
deposit. The mineralization is chalcopyrite rich and associated with intermediate volcanics and
sediments which form the footwall to the ultramafic dyke. There is known skarn-related copper
mineralization to the south and west of the property, but this is the first documented occurrence of skarn-
like mineralization on the Canalask property. Locating this skarn-like mineralization opens up a much
wider swath of prospective geology on the property and suggests the potential exists for much more
extensive mineralization, as skarn mineralization is well documented regionally.
"The platinum and palladium rich nature of the peridotite hosted nickel mineralization was another
surprise, while the ultramafic dyke itself was not the primary target of the program, the great thickness
and near surface nature of the mineralization forms an attractive bulk tonnage target, future work will
focus on delineating the sulphide hosted component of this style of mineralization. The abundance of
peridotite hosted nickel represents an excellent source for hydrothermal remobilization and may play a
role in generating addition wall rock hosted mineralization similar to the Historic high-grade Footwall
Deposit.
"The favourable gabbro zone at the base of the ultramafic dyke remains to be drill tested, the Company
plans to test the gabbro zone / basal contact during the 2025 drill program.
Gabbro hosted
mineralization within this zone, returned 0.8% Ni and 0.2% Cu over 3 meters in historic hole VQ-7 and is
the primary massive-sulphide target at Canalask," stated Derrick Weyrauch, President and CEO.
Figure 1.
Location Map of Canalask project, 2024 drill program (yellow dots), background is total field
magnetics. Newly stakes claims are outlined in blue on inset image in the top right-hand corner.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/233144_7d5ff129e4758881_001full.jpg
1. see Historical Resource Estimate disclaimer below
Figure 2.
Drill hole location map superimposed on an Isometric view looking southwest of the modelled
ultramafic dyke (purple), modelled Electromagnetic ("EM") Maxwell plate (yellow) and position of historic
drill holes including VQ-7 which intersected mineralized gabbro. Inset map in the upper left is a stylized
cross section showing the depth achieved by 2024 drill holes within the feeder dyke and illustrates the
exploration target consisting of disseminated and massive magmatic sulphides located within and
adjacent to gabbroic rocks at the base of the ultramafic dyke.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/233144_7d5ff129e4758881_002full.jpg
1. see Historical Resource Estimate disclaimer below
Figure 3.
Drill hole cross section of the Footwall Zone and new Copper-Gold mineralization looking
west.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/233144_7d5ff129e4758881_003full.jpg
The new copper-gold style of mineralization while proximal to the Historic Footwall deposit, is separate
from it. Additional work is needed to investigate if it is related to the Footwall style nickel mineralization
or related to the regionally skarn-type copper mineralization. Future exploration will be conducted with a
focus of identifying favourable carbonate-rich sediments in the hanging wall and footwall of the ultramafic
dyke for skar-type mineralization.
Table 1:
Assay Results: Canalask Project 2024 drill results.
Hole
Target
From
(m)
To
(m)
Width
(m)
Ni
%
Cu
%
Co
%
TPM g/t
(Pd+Pt+Au)
Pd
g/t
Pt
g/t
Au
g/t
CSK24-01
Feeder Dyke
Stopped short of target, not sampled
CSK24-02
Footwall
17.6
37.5
19.9
2.12
0.03
0.03
0.56
0.37
0.00
0.19
Inc.
19.4
26.7
7.4
3.42
0.04
0.04
0.90
0.53
0.00
0.37
Inc.
24.5
25.8
1.3
4.45
0.05
0.06
1.82
1.44
0.00
0.37
Footwall
56.0
71.0
15.0
0.28
0.17
0.01
0.04
0.00
0.00
0.03
Inc
61.5
69.0
7.6
0.41
0.21
0.02
0.06
0.00
0.00
0.05
Footwall
101.0
103.5
2.5
0.41
0.24
0.04
0.03
0.00
0.00
0.03
Inc.
102.0
102.5
0.5
1.34
0.37
0.09
0.10
0.00
0.00
0.10
Gold-Copper
137.5
138.6
1.1
0.01
1.24
0.01
0.42
0.00
0.00
0.42
CSK24-03
Feeder Dyke
55
101.5
46.50
0.26
0.02
0.01
0.23
0.14
0.07
0.01
Inc.
66
77.5
11.50
0.29
0.06
0.01
0.50
0.33
0.15
0.02
Inc.
69
73
4.00
0.32
0.07
0.01
0.64
0.43
0.18
0.03
CSK24-04
Feeder Dyke
93
116
23.00
0.30
0.01
0.01
0.23
0.15
0.08
0.01
Inc.
112
116
4.00
0.34
0.01
0.02
0.49
0.34
0.14
0.01
Sample
168
169
1.00
0.57
0.01
0.02
1.35
0.92
0.41
0.02
Sample
170
171
1.00
0.43
0.00
0.02
0.68
0.46
0.21
0.01
CSK24-05
Footwall
24.6
58.1
33.5
1.95
0.05
0.03
0.63
0.44
0.00
0.19
Inc.
28.1
39.1
11.0
2.67
0.12
0.04
0.73
0.42
0.00
0.30
Inc.
33.0
37.1
4.1
4.08
0.04
0.05
0.99
0.65
0.00
0.35
And
51.0
56.5
5.5
4.15
0.04
0.07
1.09
0.85
0.00
0.24
Inc.
55.1
55.3
0.2
12.90
0.12
0.23
0.82
0.01
0.00
0.81
Footwall
77.0
87.0
10.0
0.24
0.00
0.01
0.03
0.00
0.00
0.02
Zone Cu Au
87.0
91.4
4.4
0.08
0.93
0.01
0.40
0.00
0.00
0.40
Inc.
89.0
90.0
1.0
0.05
0.89
0.01
1.21
0.00
0.00
1.20
Zone Ni Cu
117.4
125.0
7.6
0.25
0.21
0.04
0.03
0.00
0.00
0.03
Inc.
117.4
117.9
0.5
2.42
0.23
0.16
0.16
0.01
0.00
0.15
Zone Cu Au
146.9
153.0
6.1
0.01
1.84
0.01
1.17
0.00
0.00
1.17
Inc.
149.0
150.0
1.0
0.02
2.40
0.02
3.11
0.00
0.00
3.10
(1)
Reported widths are "drilled widths" not true widths and may not be indicative of the true grade, width and style of mineralization on the property.
(2) Values within the double borders are previously released, see
news release September 24, 2024
and
November 4, 2024
Table 2:
Drill Hole Locations for this News Release
Hole
Azimuth
Dip
Length
NAD83 z7 East
NAD83 z7 North
Elevation
CSK-24-01
45
-65
127
525012.5
6868606
800
CSK-24-02
350
-50
200
524332.6
6869344
755
CSK-24-03
25
-75
104
525012.5
6868606
800
CSK-24-04
25
-75
408.5
525252.5
6868661
791
CSK-24-05
346
-69.6
170
524332.6
6869344
756
Exploration Target
The "White River Intrusive Complex" ("WRIC") is a favourable setting for magmatic nickel-copper
sulphide mineralization and is considered a "feeder system" with a high volume of magma flow. Due to
the abundance of magmatic Ni-Cu-PGE showings at the base of the WRIC and the discovery of the
nickel-rich Canalask footwall deposit, the project hosts strong potential for both "magmatic feeder-type"
basal deposits and "epigenetic footwall-type" footwall deposits. The geological setting draws
comparison to the world-class Norilsk Ni-Cu-PGE camp.
Disclaimer - Historical Resource Estimate - Canalask
Readers are cautioned that the Company has not attempted to verify historic mineral resource estimates
and therefore readers should not place any reliance on any historical estimate. A qualified person has
not done sufficient work to classify a historical estimate as a current mineral resource, additionally, a
qualified person has not yet determined what work needs to be done to upgrade or verify a historical
estimate as a current mineral resources or mineral reserves. The Company is not treating any historical
estimates as current mineral resources.
A Historical Resource Estimate on the Main Zone (also referred to as the Footwall Zone) of the
Canalask Project is quoted at 400,000 tonnes at 1.35% nickel (copper was not reported) by Discovery
Mines Ltd. in 1968 (Yukon Assessment Report 094599). The parameters, methodology and categorise
used are not known, and thus the reliability of the estimate cannot be determined, however, it is still
considered relevant as underground development and diamond drilling in the 1950 & 1960s supported
the estimate and provides a guide for future exploration.
QA/QC
The drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P.Geo., Vice
President of Exploration, and a Director of the Company.
Drill core samples were split using a rock saw by Company staff, with half retained in the core box and
stored in a secured locked facility in Whitehorse.
Samples were transported in secure bags directly by Company staff from the logging facility at the onsite
exploration camp, to the ALS Geochemistry ("ALS") lab in Whitehorse, Yukon. All samples are crushed
to 2 millimeters with a 250-gram split pulverized to 105 microns. Analysis for PGEs is performed using a
30 grams fire assay with an ICP-MS finish and for Ni, Cu, and Co using 0.25 grams by 4 acid digestion
with ICP-AES finish. Ni, Cu and Co samples over 1.0 wt% were re-analysed by ore grade methods using
4 acid digestion with ICP-AES finish.
Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one
QA/QC sample per 10 core samples. Results are analyzed for acceptance within the defined limits of the
standard used before being released to the public.
Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc.,
P.Geo., Vice President of Exploration and a director of the Company and the Qualified Person as
defined by National Instrument 43-101.
About GT Resources Inc.
GT Resources Inc. (TSXV: GT) is a mineral exploration company with a strategy to develop copper and
nickel mining projects in Europe and North America. Our projects are located in Finland and Canada
and are comprised of district scale opportunities that have attracted strategic investment from a major
mining company.
Follow GT Resources on
,
, and at
www.gtresourcesinc.com
.
ON BEHALF OF THE BOARD
"Derrick Weyrauch"
President & CEO, Director
For further information contact:
Derrick Weyrauch, President & CEO
Email:
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