Carlyle, United Mineral to form JV for Mack target Carlyle, United Mineral to form JV for Mack target
2020-10-20 09:20 ET - News Release
Mr. Morgan Good reports
CARLYLE AND HUNTER DICKINSON GROUP DISCOVER EXTENSIVE SHEETED VEIN SYSTEM WITH FIRST EVER DRILL PROGRAM AT MACK COPPER-MOLYBDENUM-TUNGSTEN-GOLD TARGET
Carlyle Commodities Corp. and its partner, United Mineral Services Ltd. (UMS), a private company affiliated with Hunter Dickinson Inc. (HDI) and 100 per cent owned by Robert Dickinson, chairman of HDI, have efficiently concluded an initial wide-spaced three-hole core drilling program (totalling 583 metres) at their Mack copper-molybdenum-tungsten-gold, sheeted and stockwork vein/fracture target, located near Dease Lake, B.C. HDI-affiliated Amarc Resources Ltd. operated the drill program under the direct field guidance of Mr. Dickinson, who provided the technical information reported herein.
As interpreted by UMS, all three wide-spaced drill holes successfully intersected an extensive sheeted and stockwork vein/fracture system hosted in granodiorite, confirming the target's postulated geological setting. All drill core samples from the Mack exploration program have now been received for analysis by Activation Laboratories Ltd. (ACTLabs) in Kamloops, B.C. The company will provide an update once the analytical results are received and assessed.
Based on completion of this first-ever exploration drill program on the Mack deposit target, and the company having invested $400,000, Carlyle and UMS (or its assigns) will now form a 50:50 joint venture to further advance the project. Carlyle and UMS have agreed that Amarc, which has extensive B.C. exploration experience, will maintain operatorship of the project for future work programs. The forthcoming analytical results are required to determine the components of the next exploration program at Mack. The company will continue to update the market with future plans to progress the Mack project as they are developed.
Morgan Good, chief executive officer of Carlyle, commented: "Carlyle is excited to have completed the initial core drilling program with HDI affiliate UMS at the Mack copper-molybdenum-tungsten-gold target near Dease Lake, B.C. The weather especially for this season was exceptional and allowed for efficient execution of the program by operator Amarc, with Robert Dickinson on site for most of the drill program. We are very encouraged that our drill program, which is the first-ever drill test of the target, has discovered a large-scale, sheeted and stockwork vein/fracture system which was the geological setting postulated. We are optimistic that assay results will provide a clear direction going forward."
Mr. Dickinson stated: "It was very exciting for me to be on site to experience the highly efficient execution of the inaugural drill test of the overburden-covered Mack target. This program resulted in the discovery of an important scale, sheeted and stockwork vein/fracture system, as was postulated for the target. Forthcoming analytical results, especially for copper, molybdenum, tungsten and gold, will be key to planning the next steps for Mack."
The Mack drill program
Amarc reports that the Mack drill program comprised three very-wide-spaced core holes designed to test portions of a northwest-trending, coincident copper, molybdenum, tungsten, bismuth and tellurium soil geochemical anomaly measuring about 1,000 metres long and 500 metres wide, located on an overburden-covered alpine plateau. The drill holes were collared and drilled southwesterly or northeasterly at a dip of minus 45 degrees, to crosscut the northwest-trending geochemical anomaly. Hole 1 (222 m) was drilled near the centre of the anomaly. Holes 2 (197 m) and 3 (164 m), located over 500 metres northwest of hole 1, were sited 150 m apart and drilled in opposite directions. All holes intersected the postulated geological setting: a robust, sheeted and stockwork vein/fracture system hosted by granodiorite. All core was split by diamond saw and in general sampled in three m intervals. These samples have been delivered to ACTLabs in Kamloops for multielement analysis, including copper, molybdenum, tungsten and gold. Assay results are required to appropriately plan the components of a future exploration program to progress the Mack project.
The Mack project
The Mack project is located on an overburden-covered, alpine plateau 23 km west of the village of Dease Lake, B.C., which is on the Stewart-Cassiar Highway about 88 km north of the Red Chris gold-copper mine operated by Newcrest Mining Ltd. Based on historical records compiled by UMS, the Mack project copper-molybdenum-tungsten-gold sheeted and stockwork vein target was postulated to form a northwest-trending zone measuring more than 1,000 m long and about 500 m wide. This zone is outlined by a number of surface surveys including recent soil geochemical and airborne magnetic surveys and historical induced polarization chargeability surveys. The geochemical soil survey shows coincident and robust, copper, molybdenum, bismuth and tungsten values over the entire deposit target trend. While this target is covered by overburden, a cirque rim perpendicular to and at the northern extremity of the target trend exposes extensive, highly fractured and weathered granodiorite outcrops and talus slopes hosting modest grade molybdenite and chalcopyrite mineralization. In addition, historical assay results from rock samples collected along a 30 m trench near the target centre, and 500 m southeast of the cirque rim, reported gold values up to 1.6 grams per tonne, with nine of the 17 samples averaging 0.83 g/t (assessment report 6354, 1976; and AR 7657, 1979).
Qualified person
Harrison Cookenboo, PhD, PGeo, is a qualified person as defined in Canadian National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and has reviewed and is responsible for the technical information presented in this news release.
About Carlyle Commodities Corp.
Carlyle is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties. The company has an option to earn a 100-per-cent interest in the Cecilia gold-silver project located in the state of Sonora, Mexico. Carlyle formed a strategic partnership with HDI and has an option to earn a 50-per-cent interest in the Mack and Jake projects in B.C. It also holds an option to earn a 100-per-cent interest in the promising Sunset property located in the Vancouver mining division near Pemberton, B.C. Carlyle is based in Vancouver, B.C., and is listed on the Canadian Securities Exchange under the symbol CCC.
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