Drilling at returned 16.3m grading 7.18 grams per tonne gold and 3.17% copper at Raven Bluff, with 1.67m grading 6.2g/t gold at Raven Pit. Raven Bluff and Raven Pit are about 200m north of the past-producing Merry Widow magnetite iron ore open pit mine .
Drilling at Raven Bluff and Raven Pit aimed to test parts of the property that, despite numerous recommendations made since 1988 by consultants, had remained undrilled. Drilling has opened a 200m x 200m target area for the company.
"Our drill success at Raven Bluff These new discoveries confirm our belief that additional areas on the property are prime exploration targets for new copper and gold discoveries as previous operators either focused on the mining of magnetite or drilling in the Merry Widow pit," said Coast Copper CEO Adam Travis.
At Raven Bluff, the company said that a detailed review of historical records, compilation of previous geological mapping and our own site inspections indicated that sulphide mineralisation was more likely associated with north-northwesterly trending greenstone dykes within a 200m x 200m area that has never been adequately tested.
In January, the company reported a hit of 4.1m grading 3.1g/t gold, 3.35% copper, 40.4g/t silver and 0.018% cobalt for a 5.66% copper equivalent at Merry Widow within the same initial 19 drillhole drill programme for 2,346m completed in December 2021 at Empire.
"These drill results have returned significant copper-gold intercepts some which could have been longer as many holes terminated in mineralization before ending in underground workings," said Travis.
Shares in Coast Copper are trading at C13c, valuing the company at $8 million.
