Forum Energy Metals (TSX.V:FMC) has announced a further extension to copper mineralisation at its Janice Lake project in Canada following the receipt of another strong set of drilling results from Rio Tinto Exploration. Rio Tinto, which is completing an initial exploration programme as part of a seven-year $30m option to earn 80pc of Janice Lake, revealed assay results from three more holes drilled at the site’s Jansem target.
Highlight intersections from the three holes included 0.25pc copper over 60m, 0.16pc over 6.7m, and 0.05pc copper over 6m. Critically, the work expanded copper mineralisation along strike at Jansem from 270m to a minimum of 400m in length. Mineralisation is also thought to be 130m wide, to have an estimated true thickness varying from several metres to more than 55m, and to be present in several stratigraphic layers.
The results follow the receipt of assays for several further holes drilled by Rio Tinto at Janice Lake’s Janice target last month. One hole intersected 13m of 0.95pc copper and 9.7g/t silver within a broader 57.1m mineralised zone from 78.9m to 136m grading 0.41pc copper and 4.2g/t silver. Other highlight intersections include 0.13pc copper and 4.9g/t silver over 16m from 150m to 166m deep and 0.31pc copper and 5.9g/t silver over 20m from 238m to 258m deep.
As a result, Forum said copper and silver mineralisation are now confirmed over a minimum strike length of 400m over a greater width than expected at Janice, which was last drilled in 2003. Likewise, mineralisation has now been intersected at deeper levels than those known from historical drilling.
Speaking to ValueTheMarkets at the time, Forum’s VP exploration Ken Wheatley, who spent time on-site at Janice Lake over the summer, said the firm is pleased with the strong drilling results being returned to date.
‘The goals of this summer’s drill program were to confirm the type of copper mineralisation present and its depositional controls, extend the strike of known mineralisation, and to test the theory of multiple horizons of copper mineralisation. The last two goals were achieved, and the first goal will be a work in progress. Once we feel confident about the geological model, we can step out from the known mineralised area and test more targets located within the 52km long project. Goals for future drill programs will 1) attempt to join the current target areas to prove up continuous mineralisation along strike, 2) find additional zones of mineralisation within the project and 3) to identify pockets of high-grade copper mineralisation, possibly caused by structure (faults).’
Rio Tinto Exploration is planning to spend $3m (CDN) on Janice Lake in 2019 as part of a seven-year $30m option to earn 80pc of the project. The major has completed a 21-hole (5,209m) drill program and has sent drill core in for assay. The drill program was achieved using two rigs with helicopter support and concentrated on the Janice and Jansem targets with nine holes apiece. Meanwhile three further holes were completed on the Kaz target, located approximately 1km northeast of Janice. The location of the holes – assays for several of which are yet to be received – can be seen in the image below.
Utilising information gathered from the 2019 drill program, Rio Tinto hopes to determine the dip and attitude of copper mineralisation at Janice Lake while also locating its multiple strata-bound copper-bearing horizons. There also appears to be a local association between magnetite and the copper mineralisation, which suggests terrain with a higher magnetic signature has a greater potential to host copper. Rio Tinto also completed a detailed airborne magnetic survey of the entire project this summer which will aid in developing targets for future drill programs within the project’s 52km long strike length.