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Wedgemount Resources Corp. (CSE:WDGY), the Vancouver-based junior mineral exploration company, has commenced an Induced Polarization (IP) survey at its Eagle copper-gold project, located in the Quesnel trough copper-gold porphyry belt of central British Columbia.

Mark Vanry, President and CEO of Wedgemount, said: “We are aggressively following up on the initial assay results from the Eagle Phase One exploration programme. Grab rock sample results such as 9.86 % copper, 2.5 grams per tonne (g/t) gold and 77.7 g/t silver from the Nighthawk zone clearly demonstrate the porphyry-related, copper-gold potential of the Nighthawk to Vector corridor, which will be the focus of the Phase Two IP Program.”

Of the 51 rock samples analysed for the initial assay, Wedgemount said, a total of 43 returned copper concentrations in excess of 1,000 ppm (0.1% copper), while 12 samples exceeded the level of detection for ICP analysis and were re-run using ore grade copper analysis. These 12 samples returned results ranging from 1.26% copper to the highest at 9.86% copper.

Gold and silver results were anomalous for every anomalous copper result; averaging 0.292 g/t gold and 8.23 g/t silver for copper results in excess of 1,000 ppm and 0.725 g/t gold and 20.0 g/t silver for copper concentrations in excess of 1%. The best copper-gold-silver result was sample D702202, which returned 9.86% copper, 2.5 g/t gold and 77.7 g/t silver.

Podcast: Mark Vanry, CEO of Wedgemount Resources

The Wedgemount Resources Eagle Project

The 2,530 hectare Eagle project is situated mid-way between the Mt. Milligan copper-gold mine of Centerra Gold and the Kwanika copper-gold development project of Northwest Copper. The project is subject to an earn-in agreement with ArcWest Exploration. Other exploration-stage copper and gold assets in Wedgemount’s portfolio are Highland Valley, Copper Mountain, Mount Polley, New Afton, Kemess South and Friendly Lake.

The programme will include up to 22.0 line kilometres of ground IP survey focused on the 3.5 kilometre Nighthawk-Mid-Vector copper-gold mineralized trend. Three main porphyry-related copper-gold targets were identified by exploration work done in the late-1960s to the early 2000s, including geological mapping, geophysical and geochemical surveys and limited drilling. The programme is scheduled to be completed by the end of October.

The first phase of the 2021 exploration programme was started to open up old exploration trails and to improve access, followed by targeted geological mapping and geochemical sampling of the three main zones of known porphyry-related copper and gold mineralization (ie. Nighthawk, Vector and Mid).

The geochemical results from Phase One will be integrated with the IP results to assist with development of priority drill targets. A decision will be made whether to commence with drill testing, once an assessment of all exploration data has been completed.

The main goal of the 2021 exploration programme is to assess the mineralization and alteration styles of the main zones, and to define new vectors to aid in drill hole targeting. A review of all compiled recent and historical exploration data has yielded other high-priority targets, which have been ranked and prioritised.

In July earlier this year, Wedgemount announced it had raised almost $1.4m as working capital, and is fully funded for its current exploration projects. The company was incorporated in August 2020.

Our take on Wedgemount Resources

Regular readers will know that we are bullish on the copper price and copper explorers are always going to pique our interest. We anticipate a huge global and strategic building program required to facilitate a shift to clean energy sources as the required infrastructure is put in. This is going to need copper, and lots of it.

British Columbia remains one of the prime copper producing areas on the planet and is not weighed down with the political problems of other areas, like the Congo.

There is an unprecedented level of focus on exploration for new copper sources in Canada. Timing for Wedgemount Resources could not be better.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

James Norris

James Norris

James is a highly experienced writer and editor, gained from more than 20 years in the financial services industry, in particular wealth management and asset management.

He initially worked as a financial journalist for a number of leading media brands, including the FT Group, Financial News, Euromoney and Incisive Media, covering most aspects of the asset management industry. More recently, James switched to work as an in-house content specialist for fund management and wealth management groups, including JP Morgan Asset Management, Quilter Cheviot Investment Management, AXA Investment Managers and Invesco Perpetual.

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