Vancouver, British Columbia--(Newsfile Corp. - November 6, 2024) - Commander Resources Ltd. (TSXV: CMD) ("Commander") is pleased to report the results of a property-wide airborne magnetic survey and an induced polarization survey ("IP") at its 100% owned of Burn Copper and Gold porphyry project located 100 km north of Smithers, British Columbia (the "Burn Property").
Highlights:
170 sq km property in the Babine Copper Belt of northern BC preliminary drilling has identified a gold-rich zone (83.5 m @ 1.08 g/t Au in hole B-2) and separate upper-level porphyry copper-gold zone (50 m @ 0.24 Cu eq % in hole B-01)
1,875 line-km of helicopter high resolution "Heli-GT" magnetic survey at 100-m line-spacing completed covering the majority of the property
18 line-km of IP survey over the core Charleston Target
Large 3 km by 2 km (>15 mV/V) chargeability anomaly outlined that is open to the south
Drill targets outlined and supported include step-out drilling from existing discovery holes and larger untested areas of combined high chargeability with high magnetic responses
Robert Cameron, President and CEO, states, "The Burn project is a grassroots porphyry discovery by Commander that had early drill success on its first target tested. The current geophysical program was designed to provide guidance to put current drilling in context and to plan continued follow-up exploration. The large 6 square kilometre IP anomaly on the Charleston Target, a key hallmark of porphyry copper deposits, has outlined extensive elevated chargeability regions outside of the current drilled areas and at depth and require drill follow-up. Charleston is only one of five targets within the larger property boundary."
Geophysical Surveys
The Company has completed a property-wide detailed geophysical airborne magnetic survey over the entire property using a "Heli-GT" system at a 100-metre line spacing. Previous surveys were conducted with a single sensor at a 200-metre line spacing. The Heli-GT system is a magnetic gradiometer system in a towed bird that provides measured vertical and horizontal gradient and is higher resolution and lower noise than the previous survey that was flown. Results from the survey show linear features interpreted as faults such as the newly recognized northwest structure that separates the gold zone intercepted in hole B-2 from the copper zone identified to the east. Furthermore, peak magnetic responses, in one case associated with a quartz-magnetite stockwork have shifted slightly as a result of the closer line spacing. This new data will allow more accurate modeling of magnetic targets as well as providing an improved framework for interpreting the recent drilling (figure 3).
The company also completed an 18 line-kilometre induced polarization ("IP") survey over the primary Charleston Target. This dataset is a key component of the porphyry copper exploration toolbox and has not been previously collected except from a single test line completed north of the current drill plan. This new survey has outlined a large 3 km by 2 km (>15 mV/V) chargeability anomaly that is open to the south (figure 3). Peak values within the survey area exceeded 50 Mv/V. The majority of this anomaly remains untested (figure 4).
Preliminary inversions and modeling of this data are underway and have indicated several regions of priority follow up. Drill targets outlined include continued step-out drilling from existing discovery holes and larger untested areas of combined high chargeability with high magnetic responses (figure 5).
About the Burn Property
The Burn Property, which covers 17,675 ha, was initially acquired directly by Commander in 2018 to cover prominent gossans exposed along ridges. It is located within the Babine Porphyry belt 70 km north of two past producing mines at Bell and Granisle (figure 1). Initial work at Burn in 2018 identified widespread phyllic-style alteration with trace amounts of chalcopyrite. There were no previous geophysical surveys or drilling. Past work by Commander, included a property-wide airborne magnetic survey which outlined two prominent circular magnetic rings and several linear magnetic highs that coincide with stocks and dykes of Eocene age. A sampling program of stream sediment sampling, soil and rock sampling, and geological mapping has identified five alteration zones of which the largest is referred to as the Charleston zone (figure 2). Geology is dominated by numerous phases of biotite feldspar hornblende ("BFP") porphyry dykes and stocks exhibiting alteration from chlorite and epidote to chlorite-magnetite, and moderate quartz-sericite-pyrite ("phyllic") to intense phyllic with local quartz veinlets and stockworks in the central copper-rich zone and surrounded by alteration dominated by intense phyllic alteration with iron carbonate and elevated zinc that intrude hornfels and intensely altered sediments. First pass drilling in 2022 and 2023 (14 holes, 5,916 metres) identified two discrete zones referred to as the west gold zone and the central copper-gold zone. Key drill results are tabulated below.
The Burn project is 100% owned except for an internal parcel of 127 hectares in which the Company has the right to earn a 100% interest. Freeport-McMoRan Mineral Properties Canada Inc. holds a 2% Net Smelter Return Royalty ("NSR") over the majority of the property and a 1% NSR over two mineral claims totaling 127 hectares optioned from a third party. The 2% NSR may be reduced to 1% for a payment of $US 5,000,000. The internal claim will have an additional 2% net smelter return royalty with a buydown provision to 1% for $1,000,000 and with a further buydown provision of the remaining 1% for $5,000,000.
Table 1: Drill Highlights from 2022 and 2023
Hole
Zone
From (m)
To (m)
Length (m)1
Cu %
Au (g/t)
Cu eq %2
B-01
Central Copper
4
52
48
0.11
0.05
0.14
B-01
Central Copper
84
134
50
0.11
0.20
0.24
B-02
West Gold
4.5
154
149.5
0.66
including
West Gold
4.5
88
83.5
1.08
including
West Gold
28
32
4
11.1
B-7
West Gold
96
98
2
1.60
B-7
West Gold
128
170
42
0.11
B-7
West Gold
308
310
2
5.18
B-8
Central Copper
370
388
18
0.05
0.05
B-9
Central Copper
5.7
238
232.3
0.06
0.06
B-9 incl.
Central Copper
98
110
12
0.22
0.13
0.30
B-10
Central Copper
12
152
140
0.08
0.04
0.10
B-10
Central Copper
364
478
114
0.06
0.03
0.08
Notes
length is core length. True widths are unknown.
CuEq.: Copper equivalent is calculated using metals prices ($US) of $3.50/ lb for Cu, $1750/oz for Au and $20/lb for Ag and assumed net metal recoveries of 85% for Cu, 72% for Au and 65% for Ag summarized in the following formula. CuEq % = Cu% + ((Au g/t * (Au recovery / Cu recovery) * (Au $ per oz/ 31.1034768) / (Cu $ per lb* 22.05)) + ((Ag g/t * (Ag recovery / Cu recovery) * (Ag $ per oz/ 31.103) / (Cu $ per lb* 22.05)). Metal prices are not economic parameters and are used solely for determining relative weighting factors in CuEq calculations. Recoveries are arbitrary and informed from peer company practice and documented metallurgical studies of similar nearby deposits. No metallurgical work has been completed at Burn.
QA/QC (Quality Assurance/Quality Control) and Data Verification
Commander's 2022 and 2023 exploration program was supervised by Stephen Wetherup P. Geo., Commander's Vice President of Exploration. The drill contractor was ITL Drilling of Smithers BC. Half-core NQ (47.6 mm) sawed samples from continuous intervals throughout the reported drill holes were sealed on site and shipped to Bureau Veritas ("BV") labs in Vancouver, BC. where fire assay and multielement analyses were completed. Drill core was crushed, pulverized and analyzed for 48 elements using a four-acid dissolution followed by ICP-MS (MA250) with a 30 g sample analyzed for gold by fire assay and fusion Au by ICP-ES (FA330-Au) with overlimit gold analysed by lead collection fire assay 30g fusion with gravimetric finish (FA530). Blanks and commercially certified reference materials were inserted blind into the sample stream with an overall insertion rate of 10%. Field duplicates representing a quarter core split of the original sample are inserted at 2.5%. In addition, pulp and crush duplicates are inserted by the laboratory. The QAQC results were reviewed and the QA/QC results for the reported drill holes are acceptable. Results were previously discussed with accompanying QA/QC statements in press releases on November 13, 2020, October 6, 2022, March 6, 2023 and January 19, 2024.
Qualified Person
Robert Cameron, P. Geo. is a qualified person within the context of National Instrument 43-101 and has read and takes responsibility for the technical aspects of this release. All fieldwork completed to date and on-site supervision of the drill program was by Stephen Wetherup P. Geo.
About Commander Resources
Commander Resources is a Canadian focused exploration company that has leveraged its success in exploration through a combination of partnerships and sole funded exploration. Commander has a portfolio of base and precious metal projects across Canada.
On behalf of the Board of Directors Robert Cameron, P. Geo. President and CEO
For further information, please call: Robert Cameron, President and CEO Toll Free: 1-800-667-7866 info@commanderresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws
