GT Resources Intersects 2.0% Nickel over 33.5 meters at the Canalask Nickel-Copper Project
GT Resources Intersects 2.0% Nickel over 33.5
meters at the Canalask Nickel-Copper Project
Toronto, Ontario--(Newsfile Corp. - November 4, 2024) - GT Resources Inc. (TSXV: GT) (OTCQB:
CGTRF) (FSE: 7N1) (the
"Company"
or "
GT Resources
") is pleased to announce additional diamond
drill assay results from the 2024 exploration campaign at the Canalask Nickel-Copper Project, Yukon,
Canada.
1.95% nickel
, 0.05% copper, 0.03% cobalt 0.19 g/t gold, and 0.44 g/t palladium was intersected
over 33.5 meters
(Hole CSK24-05) in the Footwall Zone.
including
4.15% Ni
, 0.04% Cu, 0.07% Co, 0.24 g/t Au, and 0.85 g/t Pd
over 5.5 meters
.
including
12.90% Ni
, 0.12% Cu, 0.23% Co, and 0.81 g/t Au over 0.2 meters.
The intercept began close to surface, at 24.6 meters down hole.
"Drill hole CSK-24-05 returned another broad interval of predominantly nickel mineralization and
impressive grades. In addition to the significant wide zone of high-grade nickel mineralization, previously
unrecognized precious metals including palladium and gold were encountered. 2024's drilling program
suggests the Footwall Zone comprises a combination of physically and hydrothermally remobilized nickel
sulphide. The presence of footwall hosted nickel sulphide also suggests that a larger accumulation of
nickel sulphide ought to occur within the immediately adjacent Kluane Ultramafic Feeder Dyke.
"The favourable gabbro zonet at the base of the ultramafic dyke was not tested in 2024, however 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 staked claims are outlined in blue on inset image in the top right-hand corner.
1. see Historical Resource Estimate disclaimer below
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/228694_d45d1200145a9820_001full.jpg
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.
1. see Historical Resource Estimate disclaimer below
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/228694_d45d1200145a9820_002full.jpg
Figure 3.
Drill hole cross section of the Footwall Zone looking west.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/228694_d45d1200145a9820_003full.jpg
Figure 4.
Massive sulphide vein at 55.1-55.2 meters down hole in CSK24-05, containing a matrix of
pyrrhotite (darker grey) and pentlandite (brighter white spots), this sample returned
12.9% Ni
over 0.2
meters.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/228694_d45d1200145a9820_004full.jpg
This summer's program represented the Company's first drilling campaign on the Canalask project. In
addition to drilling the Company conducted down-hole surveys and is currently reviewing the Borehole
Electromagnetic ("BHEM") data.
A total of 5 holes were drilled totaling 1,010 meters. Two (2) holes targeted the historic high-grade
Footwall style mineralization (Figure 1, 2, 3 & 4) while three (3) holes were planned to pierce the
Electromagnetic ("EM") conductor (see news release
January 16, 2024
) and the favourable gabbro at
the base of the Ultramafic Feeder Dyke.
While drilling proceeded smoothly on the Footwall Zone holes, challenging overburden and blocky faulted
ground was encountered within the ultramafic Feeder Dyke. As such only one of the three holes tested
the shallow EM conductor, which now appears to be the result of thin pyrrhotite coated fractures in brittle
fault zones. None of the three holes targeting the massive sulphide potential of the gabbro unit at the
base of the Feeder Dyke achieved planned depth.
Within this gabbro unit at the base of the Feeder
Dyke, historic hole VQ-07 returned 0.8% Ni and 0.2% Cu over 3 meters (Figure 2).
The Footwall Style mineralization consisted of massive veins, pods and disseminations of pyrrhotite-
pentlandite hosted within intermediate volcanic rocks (Figure 4). This style of mineralization bears
hallmarks of both physical and hydrothermal remobilization of nickel-sulphide and segregation of nickel-
rich and copper-rich sulphide zones. The presence of such significant footwall mineralization suggests
an undiscovered source of nickel-copper sulphide could exist within the ultramafic Feeder Dyke. Future
exploration will try and trace a physical connection between the Footwall Style mineralization and the
prospective basal gabbro unit, future drilling will target the ultramafic dyke footwall contact near the
historic high-grade Footwall Zone.
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, assays pending
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
Stopped short of target, assays pending
CSK24-04
Feeder Dyke
Stopped short of target, assays pending
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
87m to End of Hole assays pending
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
(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 from hole CSK24-02 are previously released, see
news release September 24, 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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