Target Summary and Location
Limited drilling in 1968 (green circles with black centre points on the map below) produced encouraging results (eg: 190 feet @ 0.56% Cu and 0.018% Mo).
An extensive soil geochemistry survey conducted in 2012 yielded a copper-in-soil anomaly over two kilometers, with support from anomalies in a number of other pathfinder elements. Click on any of the maps below to enlarge it to full-screen.
The New Nanik target is planned for drilling in Phase 2 of the property exploration after an IP survey over the target area to refine drill siting.
Drillhole GR-69-03
This is an extract from Raye Resources Inc's 2024 43-101 report on the New Nanik Property:
"Quintana Minerals completed the first documented work on the New Nanik prospect since its apparent discovery in the 1920’s. Quintana optioned the property from Silver Cup Mines and completed an initial evaluation in 1967. They drilled 14 holes in 1968,which they interpreted to define a tabular zone of mineralization up to 500’ (152 m) thick, by 3,200’ (975 m) long. Hole #4 cut an interval 160 feet long (48.8 m) that graded an average of 0.75% Cu at depth, which the reporter interpreted to suggest that better grades could be encountered deeper. Shear (1968) estimated an average grade of greater than 0.44% Cu across several drill holes. Intervals from several drill holes, tabulated in Table 4 from the drill sections such as shown in the table below, display impressively long intervals of mineralization with significant grades averaging ca. 0.45% Cu."
A downhole profile of borehole GR-69-03 is shown in this illustration.
