The Chu Chua North

Alterra Mining Inc. controls the Chu Chua North property, a large 2,563 hectare contiguous land package that is comprised of extensive mineral and surface claims. Alterra holds an option on CCN (100% ownership in 4 years) and holds an additional option on newly staked claims bordering CCN and Newport Exploration.

The Chu Chua North Copper and Gold

A geological exploration company was hired to do a geological and geophysical field program during the 2020 field season on the Chu Chua North property. After on-site work and later analysis of historical drilling information, VLF results and comprehensive AH soil sampling the company geologists produced and filed an updated Assessment Report. 

There is a volcanogenic massive sulphide (VMS) copper discovery on the Newport Exploration Ltd. (NWX-V) property that is adjacent to Alterra Mining Inc.’s optioned claims north and south. 

Newport has a copper deposit of 2.5 million tonnes with Inferred Resource averaging 2% copper, 9.4 g/t silver, 0.5 g/t gold and 0.3% zinc, using a 1% copper cut-off. Metallurgical work conducted by  ALS Metallurgy on core samples from Chu Chua reported copper recoveries up to 92%;

  • The Newport deposit could extend further south and north on to CCN property, a geological theory that will be pursued by IP testing in H1 – 2021;
  • Gold credits in Cu deposits are typically about 20%, providing diversification;
  • 2021 exploration, prospecting and later drill program will be fully funded after IPO;
  • Potential gold targets in the southern part of CCN land package;
  • Alterra’s management team is dedicated to building long term share holder value. The Company has a transparent clean capital structure with high insider ownership by BC locals.

Project History

Exploration on the larger Chu Chua property and the surrounding ground began in the late 1960s and peaked in the 1990s, identifying numerous showings, anomalies and prospects culminating in the discovery of the Chu Chua volcanogenic massive sulfide copper discovery. The copper-gold porphyry deposit has yet to be mined but the area has seen significant diamond drilling for gold-silver-copper mineralization over the years. 

Chu Chua was discovered in 1978 by Craigmont Mines. Chu Chua is located approximately 30km north of Kamloops, British Columbia, with excellent access and infrastructure. The deposit is a Cyprus-type volcanogenic massive sulphide (VMS) body hosted in two steeply dipping lenses of massive pyrite-chalcopyrite and magnetite up to 40m thick, with a known strike length of 400m and a known depth of 250m.

Key Points

  • 100% interest
  • 98 historical diamond drill holes totalling over 19,000m in resource area
  • Inferred resource of 2.5 million tonnes averaging 2.0% copper, 9.4 g/t silver, 0.5 g/t gold and 0.3% zinc
  • Grades for resource estimate capped at 5.9% copper, 32 g/t silver and 1.4 g/t gold
  • Over 92% copper recovery producing a 22% copper concentrate
  • 75% of deposit lies within 100m depth from surface
  • Mineralization occurs over 480m strike length and 180m depth

 

Resource and Metallurgy

A NI 43-101 compliant resource estimate by APEX Geoscience Ltd. completed in 2012 reported an Inferred Resource of 2.5 million tonnes averaging 2% copper, 9.4 g/t silver, 0.5 g/t gold and 0.3% zine, using a 1% copper cut-off.                    

Metallurgical work conducted by ALS Metallurgy on core samples from Chu Chua reported copper recoveries up to 92%. A single preliminary flotation test produced a 22.4% copper concentrate and further testing may result in improved concentrate copper grades.

Source: www.newport-exploration.com

Chu Chu North claims are contiguous on the north and south of the Newport VMS deposit.

Commodity:
Copper (Cu) and gold (Au)

Land package: 
2,563 hectares

Stage:
Exploration  

Ownership:
100% ownership from earn-in option (four years); 100% ownership of four claim blocks staked in Q4 2020.

Location:
British Columbia, Canada

Reserves:
Uncalculated

Nearby Mines:
Highland Valley copper (Teck)
New Afton (New Gold Inc.)

Nearby Projects:
Yellowhead Copper discovery (Taseko)
Chu Chua Copper discovery (Newport Exploration Ltd.)
Mongoose Mining Ltd. (CSE–MNG)
The Chu Chua North ground is adjacent to the Mongoose claim block to the south and has significant gold showings.

Nearby Exploration
Newport Exploration Ltd. (TSXV: NWX) – Chu Chua North is contiguous to Newport property to the north that hosts a massive copper sulfide discovery.

The Chu Chua North 2020 Exploration and Related Activities

Contracted geologists and a geophysicist spent two weeks on-site at Chu Chua North. Field work consisted of geological reconnaissance, targeted soil sampling, VLF (very long frequency) measurements, prospecting and rock geochemistry.

Office-based work included compilation of historical diamond-drill and soil sample databases in a GIS (Arcmap) as a means of leveraging existing data for the purposes of CCN Property evaluation and advancement.

The above activities resulted in the production and filing of an updated Assessment Report with the BC Mines and Minerals Ministry.

The Chu Chua North Exploration Program 2021

  • Completion of historical data analysis and production of 43-101 report.
  • Building an exploration team led by a senior geologist.
  • Prospecting and further evaluation of Priorities #1 and 2. Prospecting on Priority 3 ground.
  • Conducting an IP Survey on Priority 1.
  • Obtaining Notice of Work permits for a future drill program of identified copper and gold anomalies and targets.

Above: Chu Chua North Property tenures with exploration targets ranked in terms of priority. Priorities 1, 2 and 4 focus on the potential for volcanogenic massive sulfide deposits like Chu Chua Deposit. Priority 3 focuses on the potential for epithermal gold deposits hosted in felsic volcanic rocks.

Above: View south toward the primary exploration target. The Property includes the heavily forested slope and plateau in the background.

The Chu Chua North Property is Located in a Tier 1 Mining-friendly Jurisdiction

The property is situated in the Kamloops Nicola Mining District located northeast of Barriere, British Columbia, Canada.

Mineral exploration and mining are common pursuits in the Kamloops – Thompson Valley region with several small to world class mines operating in the area over the past several decades. Supportive local communities have a long-term involvement in the industry. An experienced and skilled labour force for exploration and mining is available in Barriere and Kamloops. BC and Canada are also renowned for world class Geological expertise.

Excellent Infrastructure and Logistics

The land package is accessed off Yellowhead Highway 5 via an extensive network of secondary and logging roads. Communications and power are available along Highway 5 and cell phone coverage extends to the property.

Barriere and Kamloops are the major service and supply centers for the exploration and mining industries. The existing highways and on-site gravel roads will accommodate the movement of exploration-scale heavy equipment.   

Future mine development is supported by access to BC Highway 5, Canadian National Main Line railroad tracks under 40 km away and nearby BC Hydro grid power about 20 km from the property. Ample water resources are available from nearby creeks, rivers and lakes.