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1 month ago
Source: Streetwise Reports 10/01/2024
Giant Mining Corp. (OTC: BFGFF) has announced high-grade copper and silver mineralization from recent drilling at its Majuba Hill Copper-Silver Deposit in Pershing County, Nevada. The company intersected significant mineralization in drill hole MHB-30. It revealed 74.0 feet of 2.6% copper and 30.1 grams per tonne (g/t) silver within a broader intercept of 218.0 feet containing 1.35% copper and 73.4 g/t silver. Combining copper and silver values, the overall copper equivalent (CuEq) for the drill hole is calculated at 2.1% CuEq from surface to a depth of 218.0 feet, including a higher-grade zone from 140.0 to 214.0 feet at 2.9% CuEq.
Key Highlights:
- Drill Hole MHB-30 Results: 74.0 feet of 2.6% copper and 30.1 g/t silver within a broader intercept of 218.0 feet with 1.35% copper and 73.4 g/t silver.
- Copper Equivalent: 0 to 218.0 feet of 2.1% CuEq, with a higher-grade zone of 2.9% CuEq from 140.0 to 214.0 feet.
- Ongoing Drilling: MHB-31 drilled to a depth of 1,086 feet, with results pending.
- Historical Context: Majuba Hill has produced copper, silver, tin, gold, and zinc from historic underground workings.
- Exploration Progress: Over 83,925 feet of exploration and development drilling have been completed at the project.
- CEO Quote: David Greenway stated the results "significantly exceeded our expectations for high-grade copper-silver mineralization."
- Future Development: The 2024 drilling program aims to expand the near-surface mineralization and support a maiden NI 43-101 mineral resource estimate.
Giant Mining's CEO David Greenway expressed optimism regarding these results, stating in the news release, "We are excited by the results of hole MHB-30, which significantly exceeded our expectations for high-grade copper-silver mineralization." The company expects continued progress as it awaits further drill results from hole MHB-31, which was drilled to a total depth of 1,086 feet.
The Majuba Hill project has a long history of producing high-grade copper, silver, tin, gold, and zinc, with more than 83,925 feet of exploration drilling completed. The company's 2024 drilling campaign is focused on expanding the near-surface mineralization and targeting additional areas for future development.
Additionally, on September 27, Giant Mining provided an update on its 20% stake in the Friday Gold Project in Idaho. The Friday Gold deposit has a Historical NI 43-101 Mineral Resource Estimate (MRE) with 1.237 million ounces of gold indicated and inferred.
The company highlighted that the gold trading near an all-time high of US$2,700 per ounce could enhance the project's potential value. CEO David Greenway was quoted in that news release, as well, and expressed optimism about further expanding the gold resource by incorporating additional drill results from 14 previously drilled holes.
Greenway stated that the project "remains open in all directions with several new targets."
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