Giant Mining Corp. (CSE: BFG | OTC: BFGFF | FWB: YW5) (“Giant Mining” or the “Company”) announces the company intersected high-grade copper-silver mineralization in hole MHB-30 (“MHB-30”) from surface down to a depth of 218.0 feet (66.4 meters) consisting of 74.0 feet (22.6 meters) of 2.6% Cu and 30.1 g/t Ag within 218.0 feet of 1.35% Cu and 73.4 g/t Ag at its Majuba Hill Copper-Silver Deposit located in Pershing County, Nevada.
Combining the copper and the silver results returns a copper equivalent of:
0 to 218.0 feet of 2.1% Copper Equivalent (“CuEq”) including 140.0 to 214.0 feet at 2.9% CuEq.
| Hole ID | From (m) | To (m) | Interval(m) | Cu (%) | Ag (g/t) | Au (g/t) | Mo (ppm) | Sn (ppm) | Zn (ppm) |
| MHB-30 | 0.0 | 66.4 | 66.4 | 1.35 | 73.4 | 0.074 | 107 | 229 | 387 |
| including | 42.7 | 65.2 | 22.6 | 2.60 | 30.1 | 0.092 | 206 | 95 | 414 |
Majuba Hill is a copper-silver-molybdenum porphyry project that previously produced high-grade copper, silver and tin, along with gold and zinc from historic underground workings. The project is accessible year-round by a major highway with extensive infrastructure already in place and over 83,925 feet of exploration and development drilling to date. Giant Mining controls 15.1 square miles (39.2 sq km) or 9,678 acres (3,917 ha) at Majuba Hill.
Buster Hunsaker, Consulting Geologist to Giant Mining commented, “The recent technical reviews noted the consistent silver values associated with the copper have the potential to enhance the total value of the deposit. A 2017 study of the silver metallurgy indicated the potential for recovery using flotation. Combining the copper and the silver results in 0 to 66.4 m at 2.1% CuEq which includes 42.7 to 65.2 m at 2.9% CuEq.
The 2024 core and reverse circulation drilling program was designed to in-fill and drill new targets to expand the near surface, open-pit, 50 to 100 million tonnes, Exploration Target that has grades estimated from 0.15% Cu to 0.30% Cu (NI43-101 2023 Report is available at GiantMiningCorp.com). 2024 holes are planned to improve the copper grades and provide sufficient confidence in the results and make way for Giant’s NI 43-101 maiden mineral resource estimate (“MRE”). The 2024 holes target near-surface oxide and enrichment zones concentrated along magmatic-hydrothermal breccias that define two prominent corridors.
| Hole ID | Easting | Northing | Depth (m) | Azimuth | Dip | Hole Type |
| MHB-30 | 375781 | 4503036 | 243.8 | 235 | -70 | Core |
| MHB-31 | 375957 | 4502984 | 331.0 | 310 | -50 | Core |
The Company is pleased to report that the MHB-30 assay results are significantly higher than those expected to occur within the high-grade domain (>0.50% copper) modeled in the NI43-101 in Figure 1.
“We are excited by the results of hole MHB-30, which significantly exceeded our expectations for high-grade copper-silver mineralization,” said David Greenway, CEO of Giant Mining. “With guidance from our geologic team, including Richard Sillitoe, Leo Hathaway (Technical Advisor), and Larry Segerstrom (Director), we are continuing to uncover the incredible potential of Majuba Hill. We remain open both at depth and along strike, and despite over 83,925 feet of drilling and development work, we are only scratching the surface of just how big this opportunity could be for Giant stakeholders, the State of Nevada, and the USA. We eagerly await the results from MHB-31, drilled to a total depth of 1,086 feet.”
Leo Hathaway, Technical Advisor commented, “The high-grade copper-silver results from hole MHB-30 are a strong validation of our exploration model at Majuba Hill. These results confirm the presence of significant mineralization near surface, with potential for further expansion both laterally and at depth. We are excited about the continued progress of the program and look forward to unlocking even more value as we drill deeper and expand our understanding of the deposit.”
Copper Equivalent Calculation
Copper equivalent (CuEq) values were calculated by combining the assay values for copper and silver assay results for each intercept using an interval-weighted calculation based on $4.475/lb Cu and $31.29/oz Ag.
Copper on September 24th 2024 is trading at $4.475/lb Cu and $31.29/oz Ag (prices based on https://www.cnbc.com/quotes; Copper (Dec′24) @HG.1:CEC:Commodities Exchange Centre and Silver COMEX (Dec′24) @SI.1:CEC:Commodities Exchange Centre).
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 sawn in half lengthwise 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
For further information, please contact:
E: [email protected]
P: 1 (604) 499-6791
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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.
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