Skip to content

Giant Mining: Majuba Hill assay points to enhanced value of copper and silver project

*

Canadian-listed Giant Mining Corp [CSE:BFG / OTC:BFGFF] said this week that it has intersected high-grade copper-silver mineralization at its Majuba Hill project in Nevada. Importantly, the results are coming in better than anticipated from assay, with a further key drill result anticipated in the near future.

Among the results, the miner reported a drill hole from surface down to a depth of 218 feet consisting of 74 feet of 2.6% Cu and 30.1 g/t Ag within 218 feet of 1.35% Cu and 73.4 g/t Ag.

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 or 9,678 acres at the project in Pershing County, Nevada.

Potential for enhanced deposit value

Interestingly, Giant Mining said that combining the copper and the silver results returns a copper equivalent of 0 to 218 feet of 2.1% copper equivalent including, 140 to 214 feet at 2.9% CuEq.

There is significant potential here for the value of the overall deposit to be considerably enhanced. As Buster Hunsaker, Consulting Geologist to Giant Mining explained: “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 metres at 2.1% CuEq which includes 42.7 to 65.2 metres at 2.9% CuEq.

The company’s 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.

Results significantly higher than expected

The 2024 holes are planned to improve the copper grades and provide sufficient confidence in the results, making way for Giant’s NI 43-101 maiden mineral resource estimate. Giant Mining said the 2024 holes are targeting near-surface oxide and enrichment zones concentrated along magmatic-hydrothermal breccias that define two prominent corridors.

Giant Mining said its MHB-30 assay results are significantly higher than those expected to occur within the high-grade domain (>0.50% copper) in earlier studies.

“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…we are continuing to uncover the incredible potential of Majuba Hill.”

Greenway said the miner remains open both at depth and along strike, and despite over 83,925 feet of drilling and development work, is only scratching the surface of just how big this opportunity could be for Giant stakeholders. Investors should pay close attention to the results from the MHB-31 hole, drilled to a total depth of 1,086 feet.

The high-grade copper-silver results from hole MHB-30 are being hailed as a strong validation of Giant Mining’s exploration model at Majuba Hill. The results confirm the presence of significant mineralization near surface, with potential for further expansion both laterally and at depth.

The deposit requires much more investigation, but the signs are there for the unlocking of even more value as the company drills deeper and expands its understanding of the deposit.

Giant Mining Corp is currently 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 fuelled 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.

Share this article

Invest with these platforms

Hargreaves Lansdown IG Interactive Brokers Interactive Investor Charles Stanley
IG Interactive Brokers Charles Stanley

Looking for great investing ideas? Sign up to our free newsletter.

Join our UK news channel on WhatsApp

This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

Learn with our free 'How to' Guides

Our latest in-depth company reports

Detailed reviews of selected companies and investment trusts.

On the podcast

Sign up for great investing stock tips

Thanks to our Site Partners

Our partners are established, regulated businesses and we are grateful for their support.

Aquis
CME Group
FP Markets
Pepperstone
Admiral Markets

TMX
WisdomTree
ARK
FxPro
CMC Markets
Back To Top