VANCOUVER, British Columbia, April 01, 2019 (GLOBE NEWSWIRE) -- Granite Creek Copper Ltd. (GCX.V) (“Granite Creek”) and Copper North Mining Corp. (COL.V) (“Copper North”) (the “Companies”) are pleased to announce they have entered into a comprehensive data-sharing agreement (the “Agreement”), with respect to existing mineral exploration data on the companies’ adjoining mineral claims in the Carmacks Copper District of Canada’s Yukon Territory.
Granite Creek and Copper North control the Stu Cu-Au-Ag project and Carmacks Cu-Au-Ag project, respectively, and have valuable information relating to their properties, some of which may be of a confidential nature. The Companies have agreed to share this information to develop a greater understanding of the geologic nature of the projects, as well as the potential for developing economic mineral deposits in the broader Carmacks Copper District, as a whole.
Granite Creek President & CEO, Tim Johnson, stated, “We are very pleased to have entered into this important and mutually-beneficial agreement with Copper North. The Company feels that a cooperative approach to exploration and development within the Carmacks Copper District is the best way to advance projects and add shareholder value. The long history of exploration on the Carmacks Cu-Au-Ag project and the extensive database developed with respect to exploration methods, mineralization, geology and deposit characteristics will be invaluable to Granite Creek and enable us to fast-track our own exploration efforts. Together with the recently acquired historic database on the Stu project, this information will allow us to build a solid geological model and enable rapid identification of priority exploration and drill target areas for our planned programs in 2019 and beyond.”
Copper North President and CEO, Doug Ramsey, stated “We have been very successful in growing our Carmacks project mineral resource over the past few years, based on known areas of mineralization. Our future exploration programs on the property will greatly benefit from the expanded understanding of mineralization, geology, and deposit characteristics in the Carmacks Copper District made possible through this data-sharing agreement.”
About Granite Creek Copper
Granite Creek Copper is a Canadian copper-focused exploration company whose flagship asset is the 100%-owned Stu Cu-Au-Ag project located in the Carmacks Copper District of Canada’s Yukon Territory. The property, which covers 111 square kilometres, is adjacent to Capstone Mining’s high-grade Minto Cu-Au-Ag Mine and Copper North’s advanced-stage Carmacks Cu-Au-Ag project. More information about the Company and the Stu project can be viewed on the Company’s website at www.gcxcopper.com.
About Copper North Mining
Copper North Mining Corp. is a Canadian mining exploration and development company focused on transforming the 100%-owned advanced-stage and high grade Carmacks Cu-Au-Ag project into a low-cost copper and precious metals producer. Learn more about the company and our Carmacks Project at www.coppernorthmining.com.
About the Carmacks Copper District
The Carmacks Copper District is a 180 km long by 60 km wide belt of intrusion related, high-grade Cu-Au-Ag deposits within the Dawson Range in the central Yukon Territory of Canada. The District is host to Capstone’s Minto Mine, currently on care and maintenance, and Copper North’s advanced-stage Carmacks Copper Project. Granite Creek’s Stu Project lies between these projects, with copper mineralization contained in foliated to gneissic granodiorite, similar to the Minto mine & the Carmacks Copper Deposit, generally.
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