Kutcho Copper’s (KC.V) drill program on its Kutch copper project is now well underway (and actually nearing completion), which means the company will be putting out press releases with assay results on a continuous basis now. The first few holes were released a few weeks ago, but Kutcho has already provided another update with the assay results of an additional 8 holes.
Of those 8 holes, one is the final hole drilled on the Esso zone, and this final hole returned 11.5 meters of 1.9% copper-equivalent, broken down in 1.02% copper, 0.5% zinc, 54 g/t silver and 0.25 g/t gold, including a shorter interval of 1.53 meters at a 6.6% copper-equivalent grade (including 3.43% copper and in excess of 10 ounces of silver per tonne of rock). Isolating this 1.53 meters from the 11.53 meters interval results in a residual grade of 1.31% CuEq over 9 meters which should still be economic to mine (depending on the recovery rates), even at a depth of almost 500 meters. With the completion of this hole, Kutcho Copper thinks it has enough data to start working on an updated resource estimate on Esso, while the company continues to drill the Main deposit, aiming to increase the resources.
Kutcho also released the assay results from 7 holes drilled on the main deposit (the results from one additional hole are still pending), and Kutcho confirmed the high grade nature of the main zone by encountering multiple higher grade zones very close to surface. Hole 242, for instance, encountered almost 22 meters of 3.3% CuEq starting just 33 meters downhole, while hole 240 returned 14.37 meters containing 4% CuEq. As the property is located relatively far up north, it needs these type of grades to be economic, and we expect these drill holes to upgrade a part of the current inferred resource into the measured and indicated categories which is a requirement for mine plan in the upcoming feasibility study.
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