Newly listed copper and gold explorer, Wedgemount Resources (CSE:WDGY), has just updated investors that it has begun its 2021 field exploration program at the company’s Friendly Lake copper-gold property in south-central British Columbia.
The program will be the first significant exploration on the project since 2004 and will include mapping, sampling and IP geophysics with the goal of defining priority drill targets. This is Wedgemount’s third copper-focused exploration program of the 2021 exploration season: in June the firm commenced its 2021 field exploration program at its Eagle copper-gold property and in July confirmed that it had begun the program at its Cookie copper-gold project.
We began tracking Wedgemount Resources following its successful listing in Canada earlier this year and because at The Armchair Trader, we believe that the market fundamentals are improving, particularly for copper which is driven by increased global demand from green energy, technology and global infrastructure spending.
The year-round, road accessible, 13,000-hectare Friendly property is approximately 100 kilometres north of Kamloops, a community with a rich mining and development history. New Gold’s (TSE:NGD) New Afton copper-gold mine is 100 kilometres to the south of Friendly and Imperial Metals Corporation‘s (TSX:III) Mount Polly copper-gold mine is 130 kilometres to the northwest. Previous exploration on the project, dating back to the 1960’s, has included geological mapping, extensive soil and rock-chip sampling, trenching, geochemical surveys and ground-based geophysics, however, only limited shallow drilling.
Listen: Podcast with Mark Vanry, CEO of Wedgemount Resources
The project is underlain by arc-related volcanic and volcaniclastic rocks of the Quesnel Terrane (Nicola Group) cut by Triassic-Jurassic intrusions varying from syenite to diorite with associated porphyry and skarn-related copper and gold mineralisation.
Friendly Program Details
Approximately 20 line kilometres of IP is planned for the secondary target area at Deer Lake; centred on a large diorite intrusive with peripheral skarn-related copper showings.
“We are excited to commence our first exploration program at the Friendly copper-gold project. Friendly’s location in southern BC allows for a longer and lower cost exploration season. Access and logistics for the Project are excellent with a multitude of logging roads, ATV trails and lodges in the area,” stated Mark Vanry, President and CEO of Wedgemount.
Wedgemount plans to take a number of rock samples, soil samples, and alteration chip samples in order to understand the mineralisation on the property. Field work will include inspection of known areas of mineralisation to further define their type, size, and potential; resample historic sample locations to validate historic assay data; locate, inspect, and ground truth previous IP anomalies, and inspect access roads, stream locations, and laydown areas for a planned IP survey and potential fall drill program.