Carmax has budgeted $1.5 million for its 2016 exploration program at Eaglehead. That was announced just last month. I have a hard time believing the company has outlined all the initiatives below but didn't notice that its minerals claims were about to lapse in April.
Among the work program aims for Eaglehead in 2016:
- Additional preliminary metallurgical testing to better define the recovery curves for copper-molybdenum-gold and silver;
- Test work to determine a separate molybdenum recovery circuit as well as Bond and Abrasion indices;
- Re-analysis of existing sample pulps from historical drilling to standardize the project data base to have the silver contained in the mineralization included in the next resource estimate; and
- Geophysical studies to determine physical parameters of various mineralized lithologies at the Eaglehead deposit to remodel the 6,000m long chargeability/resistivity signature outlined in 2014.
Jevin Werbes , President of Carmax commented, “Our understanding of the controls on mineralization and mineral potential of the Eaglehead porphyry copper project has advanced considerably since 2014. On completion of the 2016 work program; Carmax would like to be in a position to make a decision on commencing a Preliminary Economic Assessment of the Eaglehead porphyry copper deposit.”
Phase II of the 2016 program consists of diamond drill testing of the Eaglehead deposit as well as re-logging, sampling or re-sampling of historical drill holes to better map lithology, alteration and sulphide species within the Eaglehead deposit.
