skip to Main Content
Get your free newsletter: Actionable insight each morning for self-directed investors. 

Wedgemount Resources Corp (CSE: WDGY) has confirmed that it has begun its 2021 field exploration program at its Cookie copper – gold project, located in the prolific southern Toodoggone copper belt of north-central British Columbia.

The prospectivity of the Cookie project for copper and gold makes it one of the most compelling targets in the southern Toodoggone region of British Columbia.

The 2021 program will be the first comprehensive exploration on this project for almost 20 years. The Cookie program marks the second of three property-scale exploration programs to be undertaken by Wedgemount during 2021.

We began tracking Wedgemount Resources following its successful listing in Canada earlier this year. The explorer represents an interesting copper-gold focused play with three stakes in British Columbia, all slightly off the beaten track but still firmly located within prime Canadian copper belt territory.

The Cookie Project

The centre of the recently expanded 28,000 hectare 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. These areas are defined by widespread hydrothermal alteration zones, copper and gold mineralisation and strong, yet un-drill-tested copper-in-soil geochemical anomalies.

Wedgemount Resources said that the primary focus for the 2021 program will be on the five kilometer, northwest trending Red-Amber corridor, host to the designated Red and Amber targets. The southeastern Red target is underlain by Triassic Takla Group volcanic and volcaniclastic rocks cut by a northwest trending intrusive complex varying from porphyritic monzonite to gabbro.

Copper and gold mineralisation is reportedly associated with these intrusive rocks and define a 2 by 1.6 kilometer area of local surface mineralization spatially associated with an open ended, northwest-trending chargeability IP (induced polarization) anomaly.

The northwest extent of the Red-Amber corridor comprises the Amber target, defined by strong copper-in-soil anomalism associate with a broad gossan. The Red-Amber corridor remains largely un-tested and represents a priority area for evaluation.

Geological mapping to identify drill targets

A systematic program consisting of geological mapping, confirmation soil geochemistry and possible deep penetrating IP geophysical surveys will be completed to define drill targets.

Wedgemount said that it has compiled all regional geological, geophysical and stream sediment data together with project-scale historic geophysical data and geochemical data for over 3,000 soil and 400 rock samples. This compilation has defined multiple new areas of interest across the 28,000 hectare property.

The 2021 exploration program will also consist of property-wide geological mapping, rock-chip sampling and focused soil geochemical grids and contoured soil transects across these areas of interest to develop new targets.

Listen: Podcast with Mark Vanry, CEO of Wedgemount Resources

Senior Geologist: Chris Leslie

Wedgemount’s senior consulting geologist and qualified person is Chris Leslie. He has had over 13 years in the industry, in project evaluation and generation, and in district scale targeting in porphyry to epithermal environments. He was most recently VP at Tower Resources where he assembled and helped to advance a portfolio of projects in British Columbia.

Leslie was also notably senior project geologist at Richfield Ventures Corp where he was an integral member of the discovery team at the Blackwater Gold project.

Related

Become a better investor with SharePad Designed to give you the confidence to pick your own investments, Sharepad gives you access to a wealth of information on UK, US & European stocks. Find out more

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

Stuart Fieldhouse

Stuart Fieldhouse

Stuart Fieldhouse has spent 25 years in journalism and marketing, including as a wealth management editor for the Financial Times group, covering capital markets and international private banking, and as an investment banking correspondent for Euromoney in Hong Kong. He was the founder editor of The Hedge Fund Journal.

Stuart has worked at CMC Markets, supporting the re-launch of its global financial spread betting and CFD trading platforms. He is also the author of two books on trading, published by Financial Times Pearson. Based in The Armchair Trader’s London office, Stuart continues to advise fund managers, private banks, family offices and other financial institutions.

Stocks in Focus

Here are some of the smaller companies we are following most closely. They all represent significant growth stories in our view. Our in-depth reports go into more detail on why we like them.

Comments


Get your free daily newsletter: 

Thanks to our Partners

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

Pepperstone
FP Markets
IG
Spreadex
Trade Nation
WisdomTree
ActivTrades
Back To Top