Using an advanced subsurface imaging technology called Quantec Titan 24, Carmax Mining (CXM) has outlined a large positive chargeability anomaly, which appears to be mineralized over a 4,500-m-long zone. CXM owns the Eaglehead copper-molybdenum-gold-silver project located 48 km east of Dease Lake in northwest British Columbia, covering a total area of approximately 11,410 hectares in the Liard Mining Division. The property hosts porphyry-style copper-molybdenum-gold-silver mineralization.
“We took control of Carmax and the Eaglehead project in 2011,” said Jevin Werbes, CEO of Carmax in an interview with Financial Press. “By that point, there had been more than 94 holes drilled on the project. That season we drilled about 25 new holes, and this season we are drilling and re-logging millions of dollars of historical core, all of which will help us build a new resource calculation.”
The Eaglehead property hosts an NI 43-101 Inferred Mineral Resource estimated to total 103.0 million metric tons (mt) at an average grade of 0.29% copper, 0.010% molybdenum and 0.08 g/mt gold. The resource was estimated at a cut-off grade of 0.16% copper equivalent, to contain approximately 662 million lb copper, 22 million lb molybdenum, and 265,000 oz gold. The mineralization also contains significant silver concentration which has not been included in the resource estimate due to historical data issues, according to CXM.
On September 2, Carmax announced the results for the recently completed Quantec Titan-24 DCIP subsurface imaging survey at Eaglehead. The Titan-24 survey is a geophysical tool that gives detailed information on the presence of sulphide mineralization, alteration, structure and lithology.
“Everywhere that Carmax and the predecessors have drilled, we’ve hit copper,” said Werbes. “The correlation between the Titan-24 survey and drill results has opened our eyes as to the potential size of the Eaglehead. It was money well spent, because the cost of all the geophysical surveys was about the same as three drill holes, and this gives us confidence drilling into deeper zones.”
The Titan-24 DCIP system has a successful track record locating porphyry copper sulphide mineralization. The Eaglehead survey was completed on 10 lines spaced at 600 m apart.