Recent field work produced high-grade surface samples from Kapuskasing’s Lady Pond copper project.
A non-43-101, historic estimate of about a million tonnes averaging 1% copper has Kapuskasing Gold TSXV:KAP working to prove up a resource at its Lady Pond project in northern Newfoundland. Now underway, the first phase of modern drilling will sink eight to 12 holes totalling about 1,000 metres on the 2,450-hectare property.
Three areas of interest are the Lady Pond prospect, the Twin Pond prospect and the Sterling prospect. The latter hosts a former mine and the historic, non-43-101 estimate that’s reportedly open in all directions. Some previous intercepts from Sterling, again historic and non-43-101, showed:
- - 5.5% copper over 4.42 metres, starting at 38.1 metres in downhole depth
- - 2.32% copper over 6.1 metres, starting at 106.68 metres
- - 1.45% copper over 4.57 metres, starting at 50.29 metres
Recent field work reported last month brought two Lady Pond surface grab samples grading 2.75% and 7.19% copper.
About 1.5 kilometres northeast, Twin Pond underwent 32 holes of drilling without an estimate being calculated. Some historic, non-43-101 highlights include:
- - 4.2% copper over 3.35 metres, starting at 82.3 metres
- - 2.16% copper over 3.05 metres, starting at 33.53 metres
- - 3.2% copper over 3.05 metres, starting at 70.14 metres
A recent grab sample from Twin Pond showed 9.03% copper.
One historic, non-43-101 assay for the Lady Pond prospect, about three kilometres northeast of Twin Pond, recorded 2.61% copper over 8.1 metres. A grab sample from the recent field work showed 0.089% cobalt, 1.54% copper and 9.4 g/t silver.
The property borders the town of Springdale and hosts logging roads and ATV routes. Another 94 kilometres by road sits Rambler Mining and Metals’ (TSXV:RAB) base metals mill. Rambler holds two historic, non-43-101 copper resources contiguous to Lady Pond.
In September Kapuskasing closed an option agreement on Daniel’s Harbour, a 1,050-hectare project on Newfoundland’s Great Northern Peninsula. Between 1975 and 1990, a former mine on the property produced around seven million tonnes averaging 7.8% zinc. The company considers Daniel’s Harbour prospective for additional Mississippi Valley-type deposits.
Just south of the peninsula, Kapuskasing holds the King’s Court copper-cobalt property.
The company closed private placements totalling $215,000 in August and $201,200 in June.