Canadian-listed copper explorer Wedgemount Resources Corp (CSE:WDGY) has acquired, via staking, an additional 6,200 hectares of mineral tenures directly adjacent to its Cookie copper–gold project located in the prolific southern Toodoggone copper belt of north-central British Columbia.
Wedgemount originally entered into an option agreement to acquire the Red Property (now known as “Cookie”) copper-gold project in November 2020 and has since staked over 24,000 additional hectares of mineral tenures, bringing the project to a total of over 26,000 hectares.
Central to Wedgemount’s strategy is its ability to assemble targeted land packages to explore, primarily for copper. It is after high quality exploration projects that are both undervalued and underexplored. The company’s leadership combines deep experience in both exploration and corporate finance.
“Based on a thorough compilation of property and regional-scale geological, geochemical, and geophysical data these areas were immediately highlighted and subsequently staked,” said Mark Vanry, President and CEO of Wedgemount Resources. “Including the newly staked claims, Wedgemount now controls over 28,000 hectares in one of BC’s most sought-after copper exploration districts. The low-cost staking of additional mineral tenures at one of our three core areas is in-line with [our] overall strategy to add underdeveloped and undervalued assets at attractive prices and minimal dilution to shareholders.”
Project in close proximity to Kemess copper-gold mine
The centre of the Cookie project is approximately 40 kilometers south of Centerra Gold’s past producing Kemess copper-gold mine and approximately 200 kilometers north of Smithers B.C.
Historical work from the late-1960s to the early 2000’s, including geological mapping, geophysical and geochemical surveys and limited drilling have outlined numerous porphyry-related copper-gold targets defined by widespread hydrothermal alteration zones, copper and gold mineralisation and strong, yet un-drill-tested copper-in-soil geochemical anomalies.
These targets as well as numerous other property-wide targets will be rigorously investigated using modern exploration techniques and equipment for the first time, during the summer 2021 exploration season with the goal of defining new drill targets. Exploration is scheduled to commence in mid-July.
Podcast: Mark Vanry, CEO of Wedgemount Resources
Wedgemount is assembling a portfolio of copper-gold prospects
Wedgemount also has the gold-copper Eagle project currently in its portfolio. This is located further south than Cookie, and covers 2,530 hectares. All necessary services are located within a 90 minute drive of the township of St James. Eagle also matches the Wedgemount formula with some historic exploration but nothing of huge intensity. It has the added advantage of proximity to other major producing copper mines – e.g. Mount Milligan which belongs to Centerra Gold.
Wedgemount Resources announced earlier this month that it had also successfully closed on the Friendly Lake-Deer Lake copper-gold property. This was a 100% acquisition subject to a 3% smelter agreement.
Wedgemount;s arrival on the CSE has been very timely, as there is already intense interest in copper explorers. Shares in the company are tightly held, with only a limited number hitting the market. At present we are seeing a surge in interest in copper from institutional investors of all sizes.
Shares in WDGY were trading at around 60 cents at time of writing. They were listed at 45 cents but have an ATH already registered at 79 cents.
