Trailbreaker Resources Ltd. (TBK.V)
(“Trailbreaker” or “the Company”) is pleased to announce that
drilling from the inaugural program at the Liberty property has
intersected a copper (Cu) and molybdenum (Mo) porphyry system. All
drill holes from the recently completed 2,442 m diamond drill
program at the Liberty property in central British Columbia (BC)
intersected Cu and Mo mineralization. Composited drill results are
presented in Table 1, with highlight drill intervals including:
- LIB24-003
intersected:
- 34.2 m* of
0.47% Copper Equivalent** (CuEq) from 385.0
m;
- Including
14.7 m of 0.94% CuEq from 404.5 m;
- Including
5.9 m of 2.02% CuEq from 410.2 m.
- LIB24-001
intersected:
- 13.5 m
of 0.33% CuEq from 257.5 m;
- And 6.6 m
of 0.67% CuEq from 300.9 m.
- LIB24-004
intersected:
- 6.0 m of
0.45% CuEq from 431.0 m;
- and
2.3 m of 0.36% CuEq from 500.0 m.
This first-pass drilling has confirmed that
porphyry and related skarn mineralization is widespread at Liberty.
The use of induced-polarization (IP) chargeability features proved
to be a useful exploration tool for targeting at Liberty.
Mineralization remains open to the southeast, north, and at depth.
Copper grades increase toward the southeast, as shown near the end
of hole LIB24-004 (Figure 1). This mineralization is south of the
historic IP survey area and the mobile metal ion (MMI) soil
anomaly, and represents a large, underexplored portion of the
property requiring additional exploration to vector toward a
potential higher-grade core of the system.
The location and number of drill pads used in
the 2024 program were restricted by an existing permit covering a
small portion of the property. Based on these results, a new permit
application is being prepared to conduct work beyond the current
permit area, where mineralization is open.
Message from the President
“We are very excited to have hit porphyry and
skarn mineralization in our inaugural drill program at Liberty. We
recognize the significance of these results and understand that we
may be looking at a large Cu-Mo system, with indications of the
grade improving to the southeast. There is strong potential for
further significant mineralization in this underexplored region. A
property wide surface exploration program is currently underway
that will help unlock the potential at Liberty.” -Daithi Mac
Gearailt
Table 1: Table of Drill Results with
composite intervals >0.10% CuEq and > 0.05% Cu
Hole ID |
From (m) |
To (m) |
Length (m) |
Cu (%) |
Mo (ppm) |
CuEq (%) |
LIB24-001 |
248.3 |
462.0 |
213.7 |
0.07 |
141 |
0.16 |
Including |
248.3 |
283.0 |
34.7 |
0.08 |
244 |
0.24 |
Including |
257.5 |
271.0 |
13.5 |
0.12 |
306 |
0.33 |
And |
300.9 |
307.5 |
6.6 |
0.20 |
705 |
0.67 |
And |
344.0 |
383.4 |
39.4 |
0.10 |
140 |
0.20 |
And |
434.2 |
462.0 |
27.8 |
0.07 |
198 |
0.21 |
LIB24-003 |
157.5 |
185.5 |
28.0 |
0.07 |
43 |
0.10 |
And |
256.0 |
449.3 |
194.3 |
0.07 |
145 |
0.16 |
Including |
385.0 |
419.2 |
34.2 |
0.18 |
428 |
0.47 |
Including |
404.5 |
419.2 |
14.7 |
0.35 |
883 |
0.94 |
Including |
410.2 |
416.1 |
5.9 |
0.69 |
1994 |
2.02 |
LIB24-004 |
108.1 |
113.0 |
4.9 |
0.11 |
131 |
0.20 |
And |
279.0 |
505.0 |
226.0 |
0.07 |
52 |
0.11 |
Including |
358.0 |
364.9 |
6.9 |
0.15 |
95 |
0.21 |
And |
422.0 |
505.0 |
83.0 |
0.11 |
73 |
0.16 |
Including |
431.0 |
452.0 |
21.0 |
0.16 |
153 |
0.26 |
Including |
431.0 |
437.0 |
6.0 |
0.31 |
208 |
0.45 |
And |
500.0 |
502.3 |
2.3 |
0.33 |
48 |
0.36 |
LIB24-005 |
40.5 |
199.0 |
158.5 |
0.07 |
82 |
0.13 |
Including |
40.5 |
73.0 |
32.5 |
0.12 |
87 |
0.17 |
And |
156.0 |
170.0 |
14.0 |
0.12 |
102 |
0.19 |
LIB24-006 |
8.7 |
88.9 |
80.2 |
0.07 |
88 |
0.13 |
Including |
63.0 |
88.9 |
25.9 |
0.08 |
200 |
0.22 |
LIB24-007 |
7.7 |
238.5 |
230.8 |
0.06 |
72 |
0.11 |
And |
274.0 |
287.1 |
13.1 |
0.09 |
67 |
0.13 |
* Reported widths are drill width. Not enough
geological information exists at this point to define true width.
However, vein bearing copper and molybdenum mineralization was
commonly encountered at high angles to core axis.** Copper
Equivalent formula used is:CuEq = Cu grade in % + (Mo grade in % *
(Mo recovery/Cu recovery) *
(Mo price/lb*2200 lb) / (Cu price /lb*2200 lb) using
copper price of US$3.75/lb and molybdenum price of US$25/lb. 100%
metallurgical recoveries are assumed for both metals.
Soil Sampling
Trailbreaker has begun a property-scale soil
sampling and prospecting program to better define additional
mineralized zones across the property. Sampling will extend toward
the southeast, where mineralized zones identified from drilling
remain open for expansion. Sampling will also cover both the Cu
Skarn and Epithermal zones that have been identified by previous
operators, as well as underexplored portions of the granodioritic
intrusion, particularly where property-scale structures have been
identified in the regional magnetic data.
Figure 1: Plan view map of composited Cu
intervals annotated with highlight drill results. Note that the Cu
grade increases toward the southeast from LIB24-001 to LIB24-004.
LIB24-004 did not encounter the ultramafic contact, and
mineralization remains open to the southeast of this
hole.
Geological Description of
Drilling
Drilling toward the east, through the
chargeability high, encountered moderate to strong chlorite-altered
(propylitic) granodiorite with porphyry-style chalcopyrite ±
molybdenite-pyrite-pyrrhotite stringers and quartz veins containing
chalcopyrite ± molybdenite-pyrite-pyrrhotite (Figure 2).
Intermittent quartz-sericite ± clay (phyllic) alteration overprints
the propylitic alteration zones. The phyllic alteration is
associated with increased quartz-vein content, with individual
veins reaching up to 0.75 m in core width and associated with fault
zones. Late-stage molybdenite-bearing veinlets with sericitic
selvages overprint other alteration and veining.
Figure 2: Porphyry-style quartz-sulphide
and sulphide veining, associated with weak phyllic alteration
overprinting propylitic alteration within the granodiorite
intrusion. Photo is from LIB24-004 between 497.5 m and 501.3
m.
Fine grained ultramafic rocks of the Cache Creek
Complex are encountered at the bottom of LIB24-001 and LIB24-003.
In LIB24-003, the contact of the ultramafic rocks and the
granodiorite intrusion displays localized skarn-style alteration
and mineralization (Figure 3), with fine grained light green and
pink mottled alteration and heavily disseminated to semi-massive
chalcopyrite-molybdenite-pyrite mineralization. This alteration
assemblage transitions into talc and asbestos alteration distal
from the contact, and contains molybdenite ± chalcopyrite
mineralization.
Figure 3: Ultramafic-hosted skarn-style
alteration and heavily disseminated to semi-massive
chalcopyrite-molybdenite-pyrite mineralization in LIB24-003 between
411 m and 412 m. NQ drill core is ~48 mm in diameter for
scale.
Cu and Mo mineralization is associated with
elevated gold, silver, and rhenium (Re). Higher grades of these
metals, potentially in economic quantities, may occur in various
parts of the overall mineralized system. The presence of these
elements is in line with the gold and silver (Ag) anomalies in the
MMI surveying.
Alteration and veining notably decrease in
LIB24-002, although are still present. LIB24-002 was drilled toward
the west, targeting the margin of the chargeability anomaly, where
it is coincident with high resistivity and strong multi-element
soil anomalies. This drilling shows that the decreasing
chargeability coincides with decreasing chalcopyrite and
molybdenite mineralization as well as decreasing pyrite content. In
addition, the lower grade mineralization in drill core occurs below
the strongest MMI soil anomalies, suggesting that the anomalous
soil material has been transported from its bedrock source toward
the northwest. This is an important observation regarding vectoring
from soil anomalies on the property.
Historic IP surveying was conducted directly
over the strongest MMI soil geochemical anomalies, and does not
extend southeast, where copper grades in drill core are increasing.
This area may be the source of the MMI soil anomaly. Future IP
surveying should be conducted “up-ice” of significant soil
geochemical anomalies, to better define the source of
mineralization.
Quality Assurance/ Quality Control (QA/QC)
Drill core samples were cut in half lengthwise
using a core cutting saw at the logging facility near the Liberty
property. The resulting half-core samples were shipped via bonded
courier to the Bureau Veritas Minerals (BV) analytical lab in
Vancouver, BC, which is a certified and accredited laboratory (ISO
17025). Samples were prepared using industry-standard preparation
methods, which involved crushing the entire sample until a minimum
of 70% passed through a 2 mm screen. A resulting 250 g split was
pulverized enabling > 85% to pass through a 75-micron screen.
All samples were analysed using analytical processes FA350 (50 g
fire assay fusion, ICP-ES analysis) for gold (Au), and MA300
(4-acid digest, ICP-ES analysis) for a 35-element suite. Overlimit
copper values (>10,000 ppm) and molybdenum values (>4,000
ppm) were re-analysed using MA370 (4-acid digest, ICP-ES
analysis).
Trailbreaker inserted certified reference
material (CRM) standards and blanks at regular intervals into the
sample stream. Additionally, BV undertakes internal CRM standard,
blank, and coarse and pulp-duplicate procedures to ensure proper
sample preparation and equipment calibration. Review of all QA/QC
data was undertaken by Trailbreaker to ensure that all results are
accurate.
Batches containing sample intervals with
potentially significant assay results that also included Certified
Reference Material (CRM) values outside of industry-standard
acceptable ranges of three standard deviations from certified
values were re-analysed to verify accuracy of results.
Liberty Property
Description
The 5,054-hectare Liberty Property is located
approximately 60 km northwest of Quesnel, BC. The property is fully
accessible by resource roads.
The primary target of the Liberty project is a
northwest-trending Cu-Mo ± Au ± Ag MMI soil anomaly. This overlaps
an IP chargeability feature on the margin of the granitic
intrusion. A historic drill hole to the south of this coincident
anomaly returned an interval of 123.1 m of 0.11% Cu and 0.04% MoS2.
For more information on this target see our news release dated
January 22, 2024 and the Liberty Project webpage.
In addition to the Cu-Mo porphyry target and the
Cu-skarn target, which returned assay values of >8.0% Cu from
historic trenching, the property also covers an epithermal gold
target, where epithermal vein textures have been observed in a road
cut. Nearby soil and test pit samples returned anomalous grades of
gold and arsenic. These may represent a lower-temperature
epithermal portion of the hydrothermal system.
About Trailbreaker Resources
Trailbreaker Resources is a mining exploration
company focused primarily on mining-friendly British Columbia and
Yukon Territory, Canada. Trailbreaker is committed to continuous
exploration and research, allowing maintenance of a portfolio of
quality mineral properties which in turn provides value for
shareholders. The company has an experienced management team with a
proven track record as explorers and developers throughout the
Yukon Territory, British Columbia, Alaska and Nevada.
ON BEHALF OF THE BOARD
Daithi Mac GearailtPresident and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with
Aurora Geosciences Ltd, is a qualified person as defined by
National Instrument 43-101 for Trailbreaker's BC and Yukon
exploration projects, and has reviewed and approved the technical
information in this release.
Other
For new information about the Company’s
projects, please visit Trailbreaker’s website at
TrailbreakerResources.com and sign up to receive news. For further
information, follow Trailbreaker’s tweets at
Twitter.com/TrailbreakerLtd, use the ‘Contact’ section of our
website, or contact us at (604) 681-1820 or at
info@trailbreakerresources.com.
Neither the 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.
Forward-Looking Statements
Statements contained in this news release that
are not historical facts are "forward-looking information" or
"forward-looking statements" (collectively, "Forward-Looking
Information") within the meaning of applicable Canadian securities
legislation and the United States Private Securities Litigation
Reform Act of 1995. Forward-Looking Information includes, but is
not limited to, disclosure regarding possible events, conditions or
financial performance that is based on assumptions about future
economic conditions and courses of action; expectations regarding
future exploration and drilling programs and receipt of related
permitting. In certain cases, Forward-Looking Information can be
identified by the use of words and phrases such as "anticipates",
"expects", "understanding", "has agreed to" or variations of such
words and phrases or statements that certain actions, events or
results "would", "occur" or "be achieved". Although Trailbreaker
has attempted to identify important factors that could affect
Trailbreaker and may cause actual actions, events or results to
differ materially from those described in Forward-Looking
Information, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. In
making the forward-looking statements in this news release, if any,
Trailbreaker has applied several material assumptions, including
the assumption that general business and economic conditions will
not change in a materially adverse manner. There can be no
assurance that Forward-Looking Information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on Forward-Looking
Information. Except as required by law, Trailbreaker does not
assume any obligation to release publicly any revisions to
Forward-Looking Information contained in this news release to
reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.
TRAILBREAKER RESOURCES LTD.650 W. Georgia
Street, #2110Vancouver, British ColumbiaCanada, V6B 4N9
Telephone: 604 681 1820Facsimile: 604 681 1864
https://www.TrailbreakerResources.com
https://twitter.com/TrailbreakerLtd.
Photos accompanying this announcement are available at
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https://www.globenewswire.com/NewsRoom/AttachmentNg/69a35c59-39b4-4d72-87e3-564324f3b324
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