EXPLORATION & DEVELOPMENT

Broadway discovery points to size of porphyry system

Find underscores value of two historical copper-gold mines

Henry Lazenby in Vancouver

This article is 6 years old. Images might not display.

The Vancouver-headquartered junior advises the anomalies are significant because they are interpreted to be surface expressions of porphyry-related alteration and mineralisation of the Silver Star Fault Zone, a major regional structure extending through the Madison property and continuing 37km to the north-west, into the prolific, porphyry-based Butte mining district.

The soils sampled contain gold, silver, copper, molybdenum, manganese, lead and zinc, including average grades for the sample set of 120 assays of 28.8 grams per tonne copper, 0.022gpt gold, 898gpt manganese and 124gpt zinc.

The testwork indicates several coincident multi-element anomalies that are consistent with porphyry-based mineralisation, according to Broadway.

"Successes like these, driven by our geology team's extensive local porphyry expertise, help drive an understanding of the value of our two historical copper-gold mines that sit on top of up to four square miles of the mineralising system," CEO Thomas Smeenk said.

The area is hosted by Pennsylvanian Quadrant Formation overlain by Cretaceous Elkhorn Mountains Volcanic andesite tuffs and tuff breccias on the east side of the fault and Archean gneiss and amphibolite to the west.

Broadway intends to follow up with more soil sampling to the north of these anomalous areas.

The news helped spur investor interest in the junior, lifting the TSXV-listed stock nearly 12% to an intra-day high of C19c. Broadway's market capitalisation is about C$6.37 million.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.