Recent drilling on the Expo Property on northern Vancouver Island has Moraga Resources (VSE) optimistic that the ultimate size of the Hushamu deposit could be in the order of 300 million tons. Moraga is earning a 45% interest in the B.C. property from BHP Utah Mines which operates the 55,000-ton-per-day Island Copper Mine, 15 miles to the southeast.
Previous drilling on the Hushamu has established a geological reserve of 158 million tons of 0.32% copper and 0.012 oz. per ton gold with a stripping ratio of about 2.2-to-1.
The current drilling program includes infill and step-out drilling. The step-out drilling has been successful in extending the mineralized zone under MacIntosh Mountain to the south by about 900 ft.
The significance of the extension to the south is not limited to increasing the size of the deposit, but also includes the possibility of lowering the stripping ratio. Interval Width Copper Gold Hole (ft) (ft) (%) (oz/ton) EC-179 807-1628 820 0.33 0.013 EC-180 855-1004 49 0.19 0.005 1083-1476 393 0.20 0.007
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