Interra buys early-stage BC copper project
CSE-listed Interra Copper on Monday announced an agreement to acquire a 100% right, title and interest in the Stars property from fellow-listed Aurwest Resources.
The Stars property is an early-stage porphyry copper/molybdenum discovery, covering 3 761 ha in central British Columbia.
CEO Brian Thurston said the acquisition was transformative for Interra. “The company changes from a junior exploring to make a discovery, to a junior with a discovery that is looking to define a resource,” he said in a statement.
The Stars property has two complementary exploration upsides, with an established zone of higher-grade mineralisation that Interra can grow and define, and a much broader under-explored area with high potential for new discovery.
Thurston said that the Interra exploration team would apply a new exploration model to the property.
The most recent historical expenditures on the Star property exceed C$2.61-million, beginning in 1999 when Imperial Metals considered the property a potential analogue to the contemporary Huckelberry discovery.
Interra technical advisor Tony Barresi reviewed the data generated during these years of exploration and developed a new exploration model. Historical drilling across a 1.8 km by 1.0 km area indicates that the Star property is underlain by a large altered and weakly mineralised intrusion. The Tana zone, which is where the highest grade drill intersections were encountered, is the only location where drilling tested the contact between the intrusion and the surrounding volcanic rock. The new model emphasises locating this contact and testing areas with overlapping exploration indicators, including step-out drilling along the defined contact at the Tana zone and several other high-priority grassroots targets.
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