Giant Mining Corp. announce plans to expand the surface exploration to focus on high-grade copper-bearing breccias zones at its Majuba Hill (“Majuba Hill”) Copper-Silver Deposit located in Pershing County, Nevada.
High-grade copper was sampled from core hole MHB-30 (“MHB-30”) that was clearly associated with magmatic-hydrothermal, copper-bearing breccia zone. The breccia zone returned 218.0 feet (66.4 meters) of 1.35% Cu and 73.4 g/t Ag including 74.0 feet (22.6 meters) of 2.6% Cu and 30.1 g/t Ag.
MHB-30 drilled a prominent breccia zone on the west end of the >0.50% copper zone shown on Figure 1 and drone photo Figure 2.
The Significance of Copper-Bearing Breccia Zones
Copper-bearing breccias are zones in porphyry copper deposits where copper-mineralization is broken into smaller pieces and then those pieces are cemented together by copper-rich minerals. The breccias are formed when magmatic-hydrothermal activity causes mineral-laden fluids to move along faults or fractures in the Earth’s crust. These zones are prized in mining for their potential high copper grades, and several deposits have achieved notable commercial success. In larger copper deposits the copper-bearing breccias are a guide that points to where the largest portion of a porphyry copper deposit can be found.
“We are excited to advance our exploration efforts at Majuba Hill,”
“We look forward to determining the high-grade potential of the copper-bearing breccias, which will further our understanding of the deposit’s potential to become a significant domestic supply of copper for the USA and for the benefit of all Giant Mining stakeholders.”
said David Greenway, CEO of Giant Mining.
Majuba Hill Copper-Bearing Breccias
At Majuba Hill the high-grade copper mineralization is commonly found in the tourmaline-matrix type of breccias. Copper occurs as azurite, malachite, chalcocite, cuprite, and traces of chrysocolla found in veins, veinlets, fracture coatings, and replacing phenocrysts in intrusive rhyolite fragments as well as in the tourmaline matrix as shown in Figure 3a. Primary-hypogene copper-mineralization also occurs as intrusive rhyolite fragments with disseminated bornite and chalcopyrite as shown in Figure 3b.
“Recognizing the location and geometry of these breccia zones is a significant step forward for Giant Mining,”
“By including the geometry and copper mineralization of the breccia zones and their margins, the Company expects to be more successful with the drill holes from the new sites built for the 2024 in-fill and expansion exploration program. It is a testament to the collaborative efforts of the Giant team and the insights provided by Leo Hathaway, Larry Segerstrom, and Dick Sillitoe.”
said Buster Hunsaker, Consulting Geologist to Giant Mining Corp.
In holes MHB-30, MHB-31, and in the historic underground workings the outer margins of the high-grade, copper breccias have copper mineralization in limonitic-matrix breccias and stockwork zones as shown in Figure 4. Fractured zones with azurite, malachite, and chalcocite are also found in MHB-31 as shown in Figure 5.
Based on the previous drilling, the historic underground workings, and the Exploration Target Modeling the copper values in the outer margin typically range from 0.02 to 0.5% copper. The 0.02-0.5% copper zones comprise the Domain 1 and Domain 2 mineralized zones used to estimate the 50 to 100 million tonnes, with grades of 0.15% Cu to 0.30% Cu (see NI43-101 2023 Report).
Expanding Surface Exploration Mineralized Breccias
The Company has initiated a surface sampling and mapping program to identify and define copper-bearing, high-grade breccia bodies in the southern and northern Magmatic-Hydrothermal Breccia Corridors highlighted in Figure 6. The program will leverage the extensive historic database by combining it with the recent core drilling and the emerging copper leaching and enrichment profile. Current expectations are for surface sample results to provide detailed targeting vectors for the ongoing 2024 drill program in the Southern Target Zone and to expand the drill target vectors for the northern target zone.
Quality Assurance/Quality Control (“QA/QC”) Measures, Chain of Custody
The Company utilizes a QA/QC program using best industry practices at the Majuba Hill Project. The samples are placed in cloth or plastic sample bags and are transported from the Giant Mining secure warehouse or directly from Woods Process to the ALS Labs Sample Prep Facility in Elko, Nevada. ALS then transports the prepared pulps to their analytical lab in North Vancouver, B.C.
Drill core samples are cut lengthwise into two halves and one half is placed in labeled cloth sample bags. All samples are analyzed for copper, gold, silver, and 33 other elements. Gold is determined by ALS Labs method Au-AA23 which is a fire assay with an AAS finish on a 30-gram split. Copper, silver, and the remaining 31 elements are determined by ALS Labs method ME-ICP61 which is a four-acid digestion and ICP-AES assay. Approximately 10% of the submitted samples are drill duplicates and copper-gold-porphyry commercial standard reference material pulps. The sample rejects and remaining pulps will be retrieved from ALS Labs.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by E.L. “Buster” Hunsaker III, CPG 8137, a non-independent consulting geologist who is a “Qualified Person” as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”).
About Giant Mining Corp.
Giant Mining Corp. is engaged in the identification, review and acquisition of latter stage copper and copper/silver/gold assets. This is in direct response to the growing worldwide demand and lack of supply for precious metals fueled by the Green New Deal in the US and most other developed nations with similar programs aimed at addressing climate change. Such programs are heavily reliant on silver, gold and especially copper to produce Electric Vehicles and other renewable power sources, as well as building infrastructure to provide clean and affordable electricity.
The flagship project is the Majuba Hill copper, silver and gold District located 156 miles (251 km) outside Reno, Nevada, USA. Management has been mandated to focus on safe, mining friendly jurisdictions where government regulations are supportive of mining operations.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
On Behalf of the Board of Giant Mining Corp.
“David Greenway”
David C. Greenway
President & CEO
Forward-Looking Statements
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Specific forward-looking statements in this news release include, without limitation, statements related to the anticipated listing of the Warrants on the CSE and the entering into of a warrant indenture pursuant to which the Warrants shall be governed. Although Giant Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Giant Mining Corp. management on the date the statements are made. Except as required by law, Giant Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
