Pilot Gold (PLG.TO) announced it found a supergene copper blanket after drill-testing a four kilometer long trend at the K2 target. This copper blanket lies underneath the gold oxide zone and has the potential to add a lot of value to the TV Tower project. Of interest are the intercepts of almost 21 meters at 1.9% copper and a 65 meter intercept of 0.35% copper.
According to the CEO of Pilot Gold, this discovery is extremely important and is very likely ‘one of the most significant developments in the Biga district’. The supergene copper zone is up to 300 metres wide and 60 metres thick, which means there’s definitely potential for a mineralized zone containing 100 million tonnes of ore, but further drilling will obviously be needed to confirm this.
Disclosure: The author holds a long position in Pilot Gold. Please see our disclaimer for current positions.