The Axe porphyry complex is represented by a cluster of four known porphyry centres including the West zone, Adit zone, Mid zone and South zone within a 5.0 kilometre by 3.5 kilometre hydrothermal footprint where various exploration programs were completed since the 1960s, including work by Cominco Ltd. (1980-1993) and Xstrata Canada Corporation (2012-2013). Evrim has completed an extensive data review including detailed logging of over 5,000 metres of historic drill core, reprocessing of geophysical data, and digitization of old records.
In 2006, a NI 43-101 resource of 39 million tonnes ("Mt") at 0.38% copper in the indicated category and an additional 32 Mt at 0.38% copper in the inferred category was estimated, although gold was not included as it was not assayed in most previous drilling.
Significant copper intersections include:
Drill Hole A07-08
- 124.5 metres grading 0.35% copper and 0.22 grams per tonne ("g/t") gold from 121.5 metres, including 10.5 metres grading 1.55% copper and 0.94 g/t gold from 234.0 metres
Drill Hole 14A-04
- 71.5 metres grading 0.31% copper and 0.17 g/t gold from 180.0 metres
Significant gold intersections include:
Drill Hole A06-05
- 49.5 metres grading 1.23 g/t gold from 25.5 metres
Drill Hole A07-07
- 25.5 metres grading 1.09 g/t gold from 114 metres
Detailed logging of historic drill core recognized that high-grade copper and gold mineralization (greater than 0.5% copper and 0.3 g/t gold) is mainly associated with stockworked potassically-altered zones in diorite, syn-mineral porphyry intrusions, and intrusive and volcanic breccias, where massive magnetite and/or millimetre- to centimetre-scale magnetite veins contain coarse-grained chalcopyrite and traces of bornite. Higher grade mineralization is also found in late-stage quartz-carbonate-massive pyrite-chalcopyrite veins commonly found peripheral to the porphyry systems.
A three-dimensional (3D) inversion of the 2012 airborne magnetic survey reveals untested magnetic highs within the core of the West and South zones and a new target at the Ohio prospect. These magnetic highs are due to increased magnetite within the rocks, and when combined with the logging interpretation of high copper and gold grades associated with magnetite in potassic alteration, present attractive drill-ready targets.
B-Horizon soil geochemistry data outlines a 1,000 metre by 400 metre copper (greater than 300 ppm) with gold, molybdenum, bismuth, tungsten and zinc anomaly to the east of the Summers Creek fault. The target, known as the 1516 zone, coincides with an Induced Polarization high and an outcropping chlorite, pyrite, epidote gossan with minor chalcopyrite and potassium feldspar. Three shallow holes drilled in the area in 1971 and 1982 intersected a porphyritic intrusive but does not adequately explain the geochemical anomaly. This area represents another drill-ready target on the project. The project is in good standing with no expenditure required to maintain this status until February 2023.
The content of this page has been reviewed by Stewart Harris, P.Geo., Vice President, Technical Services for the Company. Mr. Harris is a Qualified Person as defined under the terms of National Instrument 43-101.