Source: Colossus Resources Corp.
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  • Colossus Resources Corp. (CLUS) provided channel sampling results from inaugural prospecting on its Master Copper Project
  • Completed in Q4 2022, one channel (samples 81720-81729) returned 1.316 per cent copper (Cu) and 0.210 grams per ton (gpt) Au over 6.9 metres, including 2.565 per cent Cu and 0.419 gpt Au over 3.2 metres
  • The results from the prospecting and sampling provided guidance for the team to locate and prioritize targets and plan a follow-up 1,000-1,200-metre drill program in the first half of this year
  • Colossus (CLUS) was up 22.22 per cent, trading at C$0.22 per share as of 9:55 am ET

Colossus Resources Corp. (CLUS) provided channel sampling results from inaugural prospecting on its Master Copper Project.

Completed in Q4 2022, one channel (samples 81720-81729) returned 1.316 per cent copper (Cu) and 0.210 grams per ton (gpt) Au over 6.9 metres, including 2.565 per cent Cu and 0.419 gpt Au over 3.2 metres.

Source: Colossus Resources Corp.

Historical mineralization on the property consists of quartz or quartz-carbonate vein sheets, anastomosed or breccia-weld vein systems mineralized with pyrite, chalcopyrite, specularite, and occasionally bornite, galena, and sphalerite.

Highlights:

UTM E UTM N Samp. L’th m Description Au ppm Cu %
334566 5144858 81555 Grab 0.004 0.552
334566 5144860 81556 Grab 0.003 0.536
334050 5144882 81570 Grab 0.019 1.415
333992.4 5144851 81603 0.3 White qv, most rusty with up to 3 % malachite staining and crystals, around darker mineral, possibly Fe from Cpy to malachite transform 0.044 0.821
334066 5144829 81621 0.45 QV with greenish grey patches engulfing med to coarse 20-30% cpy, bornite? Sharp northern and southern contacts, qv slightly topo higher than the adjacent qvs, contacts oriented 110/70 S, few greenish-buff grey feldspar/ser veinlets XRF on duplicate pc: 4.3,8,20 % Cu and 6,9,18 % Fe 0.016 2.02
334268 5144978 81648 Grab Qv with 30% med to coarse cpy 0.028 1.515
334269.9 5144941 81675 0.45 Grey qv brecciated, hematite fractures, feldspar/ser
fragments and veinlets, 20% med to coarse cpy, darker
sulphide (specularite) or cpy alteration
0.025 1.415
334269.7 5144940 81676 0.4 Grey qv, brecciated shear at southern contact at 300/80N,
25-30% cpy overall XRF shows Cu, and 2-300 ppm Pd with some Cd, Massive clot of cpy
0.041 3.63
334402 5144929 81711 Grab Qv with massive to semi massive sulphides 0.634 7.31
334505 5144882 81712 Grab 0.046 2.93
334397 5144927 81723 0.7 Hematitized qv. Pink, whiite fractures, trace clotty hem, cpy, py 0.106 0.244
334396.3 5144925 81725 0.7 Blue-grey qv, 2-5 % coarse clotty, cpy, py, hm 1.035 2.13
334396 5144925 81726 0.5 Blue-grey qv, 2-5 % coarse clotty, cpy, py, hm 0.136 2.38
334395.7 5144924 81727 0.7 Blue-grey qv, 2-5 % coarse clotty, cpy, py, hm, 10 cm clot of semi-massive sulphide from 7.1-7.2 m 0.734 4.31
334395.4 5144924 81728 0.7 Blue-grey qv, 2-5 % coarse clotty, cpy, py, hm 0.032 2.99
334395.1 5144923 81729 0.6 Blue grey qv, 20-30% cpy+py, trace bornite, and malachite along fractures, semi massive at 8.9-91 m at bottom contact 0.021 0.693

With the assistance of Minroc Management Ltd., the 2022 field program compiled data, worked on geological mapping of outcrops and sampled geologically prospective areas and identified veins. Prospecting confirmed that two Cu-bearing vein systems are present on the property.

The results from the prospecting and sampling have provided guidance for the team to locate and prioritize targets and plan a follow-up 1,000-1,200-metre drill program in the first half of this year.

The Master Copper Property is located 38 km west of Elliot Lake and 90 km east of Sault Ste. Marie, in the Algoma District of Northern Ontario and consists of 15 mining claims.

Colossus Resources Corp. (CLUS) is an exploration and development stage mining company. The company’s principal business activities include the acquisition and exploration of mineral property assets. The company holds interests in early-stage mineral exploration properties in Ontario. It holds interest in Master Cu Project, Little Joe Fault Cu Project, and Red Lake Pringle South Project.

Colossus (CLUS) was up 22.22 per cent, trading at C$0.22 per share as of 9:55 am ET.


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