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Mineral Mountain

Mineral Mountain is a Laramide age porphyry copper property covering 4,905 acres in the Mineral Mountain District, Pinal County, Arizona. Arizona is mining friendly; politically secure with excellent and readily accessible infrastructure.

Regional Setting:
The Mineral Mountain project is located in the northeast trending Jemez structural trend that hosts the Globe-Miami, Resolution, Florence and Casa Grande copper deposits (see table below). The project is located between the Florence copper deposit and the Resolution copper deposit.

District tonnes copper (%) contained copper (lb)
Globe-Miami 1,594,000,000 0.64 22,484,326,400
Resolution 1,624,000,000 1.47 52,615,651,200
Florence* 490,000,000 0.33 3,234,000,000
Casa Grande* 740,000,000 0.90 14,678,640,000

*In-Situ Leach ("ISL") project, only oxide portion of the deposit.

The porphyry copper deposits in the Globe-Miami & Resolution deposits are reported to contain significant concentrations of molybdenum.

Geology:
The Mineral Mountain area is underlain by Pinal schist, diabase and granite of Precambrian age that have been intruded by Laramide age quartz monzonite, granodiorite and hornblende dacite dikes. Laramide age intrusive rocks and their associated country rocks host the majority of porphyry copper deposits in Arizona. The property is located in a structurally complex area. An extensive series of NNE and ENE (sinistral movement) faults cross cut the property. The ENE structures commonly host Laramide age Hornblende dacite dikes.

The majority of the structural features and mineralized fissures on the property are confined to a north-south trend that is approximately 3 kms wide.

Geochemical Surveys:
The mineral potential of the area was identified in 2015 as a result of a stream sediment and indicator mineral sampling program. Systematic bedrock sampling was completed within the area of anomalous stream sediment geochemistry on a rough 400 meter by 400 meter grid to characterize the metals and alteration present in veins and other mineralized structures.

Exploration Target:
Bedrock sampling in 2015 and 2016 outlined a 1,100m by 900m area of copper-molybdenum-gold porphyry style mineralization. A significant number of samples from the mineralized area contained between 1% and up to 6.6% copper (due to the presence of chalcocite and covellite). The mineralized area is open in two directions. The copper-molybdenite-gold mineralization occurs in steeply dipping classical "A" veins with potassic +/- chlorite +/- hematite envelopes and exhibits a rhenium-tellurium-bismuth geochemical association. The vein-controlled mineralization exhibits three prominent trends being 010W to 015NE (gold rich), 045NE to 060NE, and 070NE to 080NE.

The main copper minerals are chalcocite and chrysocolla along with rare chalcopyrite and covellite. Gangue minerals observed are goethite after pyrite (forming box work texture) and jarosite. The range of values as well as the median value for the samples within the mineralized area are shown below:

Analytical Values
Element Minimum Maximum Average Median
Copper (%) 0.021 6.60 1.21 0.869
Molybdenum (ppm) 2 1,150 100 36
Gold (ppb) 5 2,640 160 39
Silver (ppm) 0.2 334 35 13.4

The presence of the chalcocite and covellite indicates the possibility of a "chalcocite blanket" at depth.

The 1,100m by 900m area of mineralization occurs within a larger (2.5km by 1.1km) northeast trending zone of porphyry style copper-molybdenum-gold mineralization hosted in potassic and phyllic altered rocks. A significant number of vein assemblages and a rhenium-bismuth-tellurium geochemical association characterize the mineralization.

The alteration facies within the Exploration Target is measured in kilometers typical of a porphyry copper system. The potassic alteration (potassic envelopes, secondary biotite) occurs within the mineralized area exhibits a northeast trend and is restricted to Laramide age rocks.

The phyllic zone (quartz-sericite +/- pyrite) surrounds and overlaps the potassic zone and is terminated to the north by a northwest trending structure. Phyllic alteration extends to the southwest over a horizontal distance of approximately 3.0km and ranges in width from 1.4km to 2.0km. The phyllic alteration exhibits porphyry style mineralization over an area that measured 2.5km by 1.1km.

Propylitic alteration (hematite-epidote-late stage epidote veining) is not mineralized and surrounds the zone of sericitic alteration.  

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