Granite Creek Copper – Increases Resources by 43% on the Carmacks Deposit in the YukonGCX
[Music]
joining us for a conversation is Tim
Johnson the CEO of Granite Creek copper
Mr Johnson welcome to the show
sir thank you Maurice it’s a pleasure as
always what an exciting time to be
speaking with you as Granite Creek
copper has just announced significant
resource expansion on the company’s
Flagship CarMax copper gold silver
deposit
located in the Yukon Canada before we
begin Mr Johnson please introduce us to
Granite Creek copper and the opportunity
the company presents to
shareholders absolutely so uh yeah
Granite Creek harer we we’re a one
project company at this time and that is
our CarMax project and like you said
we’re really pleased with the recently
published updated resource estimate um
43% uh increase in contained copper and
um yeah we’re we’re uh we’re glad to be
advancing it uh Granite Creek we’re a
member of the metallic group of
companies um and that allows us to have
a much broader technical um support base
and uh and investor base and um yeah
moving the CarMax project together uh uh
forward together you know a 43% increase
is a substantial update on your mineral
resource but here’s what I noted
immediately that 93% of your resource
expansion is in the measured and
indicated C category that’s practically
a grand slam now I want to hear more
from you please walk us through the
updated mineral resource and in
particular on some of the highr oxide
and sulfide
results well yeah I’m glad you you
brought that up there’s some things that
um you know uh viewers should note um
about our deposit and one is is that it
is just about all measured indicated and
the other thing to really note is that
around 95% of it is within um uh three
conceptual pits so this is an open pit
proposed operation um and for the first
time we’ve included uh the suied um
resources in um in the the conceptual
pits and we will be going to an updated
preliminary economic assessment a paa um
on those on those resources and we
expect the economics to be pretty robust
uh you know a significant increase in um
in the npv we’re expecting based on the
on what we what we’ve seen and you spoke
about the grade and and and it is quite
a high-grade project I mean in the AR
side we’re uh we’re running around 0.9%
Copper um plus our our precious metal CR
credits puts us over a percent and in
the oxide and sulfide combined on
average we are
1.07% copper equivalent um so the
economics on open pit at 1.07% is going
to be quite good um one of the best
drill holes we’ve we’ve we did last year
in our 2021 c campaign uh we hit 95 M of
0.9 sorry no 105 MERS of 97% copper
including a 20 M uh intercept of of
2.17% copper so extremely high grade um
a lot of fun to be working on we’ve got
some spectacular core um there are
pictures being posted to our website
every day so you know have a look at
some some of the core we have and I
invite uh your R viewers and listeners
to follow along as we uh upgrade and and
uh restate our preliminary economic
assessment that we expect to deliver to
the market third quarter of this year
now looking further down the road can
you share with us how the surrounding
infrastructure and having a producer
next door impacts the value proposition
for Granite
Creek well I’m glad you brought up
infrastructure because there’s a lot of
very interesting synergies with our
project you know when people hear that
we’re we’re Yukon northern part of
Canada they assume that it’s a remote
site that’s probably fly in but that
couldn’t be any um further from the
truth we are within uh 30 km of paved
Highway um and you can do the conversion
from for your viewers from kilometers to
miles uh we’re within 30 km of paved
Highway and that that 30 km is an all-
weather Road maintained by the Yukon
government so good access into our
project and once you get to that paved
Highway it leads through the village of
carax through the capital of White Horse
and ultimately to a deep water port at
Skagway Alaska where there’s oft
facilities for shipping of of copper
concentrate in fact the Mento mine
currently in operation just north of us
it’s about uh 20 miles north um they’re
shipping their concentrate through that
Port right now and then the other thing
I should note on infrastructure is that
um the real Tinto uh you viewers might
recognize that name uh they invested in
a neighbor of ours uh Western copper and
gold to the tune of $34 Million last
year and that project is just down the
road from us so uh as that project gets
developed uh that road that leads to
ours is going to get upgraded and
basically what we have is we’ve got
other parties including the Yukon
government uh building out our
infrastructure for us so that is a huge
benefit to a project like ours because
that means we’re not on the hook for
those Road upgrades we’re not on the
hook for potential power upgrades um but
uh every you know other parties are and
the Yukon grid that that would
potentially supply project power to our
project it’s a hydroelectric um grid so
their power is is produced by uh by
water it’s not a coal or or gas fired uh
uh grid so our project has very green
energy uh very close to power within 12
kilometers um the takeaway is all the
logistics are in place for the
development of this project but if you
thought that that’s the end of the story
wait there’s more Granite Creek is
confident that there is a major
potential to further increase the scale
significantly on the CarX deposit which
hosts a vast land package with multiple
drill ready targets to both further
increase the resource expansion and new
discoveries tell us
more absolutely and what you kind of
referenced there is a bit of the history
of of the company so the company fairly
new launched in January of 2019 and we
started with a a significant highly
perspective package but no reason
resource now in in uh November of 2020
So within 24 months we had acquired a a
significant resource and then in 2021 we
launched an aggressive campaign to grow
that resource but we only drilled at
that resource we’ve got multiple Targets
in the the northern part of our claim
block um including some um targets that
haven’t seen any significant work done
since the 1980s but in the 1980s they
were hitting high-grade mineralization 2
and a half% over 20 M um and some of
those targets we think are very close to
uh to being able to put resources
together on them so uh this summer we’ll
be back in the field we’ll be uh drill
testing uh some of those targets and
determining uh how many drill holes we
need to to publish a a resource just to
add to our already published resources
at the CarMax deposit itself so very
very keen to get back on the ground and
and follow up on some of those targets
now leaving the project site let’s look
at some numbers sir please provide us an
update on the capital structure for
Granite Creek
coer absolutely so we currently have 135
million shares issued an outstanding 170
million on a fully diluted basis um we
have some warrants that are uh a few of
them in the money but most of our
warrants uh have a strike price of 20
cents or higher um we have about half of
our warrant that are issued about 24
million of them um that 20 cents uh will
expire January of next year and we’ve
seen some of those come in as the price
could drifts up above 20 cents and we
believe on based on the current
contained metal in our project that we
should be well above uh of of that
strike price so we expect those to come
in through the year as the market
recognizes the value that we put
together in this project and we we drift
up up in in there company currently has
just under $2 million cash on hand and
cash and prepaids and um we are looking
to uh again um update the preliminary
economic assessment our goal is to get
to a proposed 15 to 20 year mind life we
believe we have the resources for it uh
we are working on proving up the
economics on those resources but again
the grade that we have the T we have we
expect those re resources to be fairly
robust and there’s a couple numbers I’m
going going to let your viewers do a
little bit of math here currently the
mental mind is producing copper for 260
a pound underground at a 1% copper we
estimate that the difference between an
underground and open pit operation ation
is about a dollar a pound now the grades
are a little bit different so again your
viewers going to have to do a little bit
of math but you can understand that we
expect um uh our copper production costs
to be significantly lower than the 260 a
pound produced just up the road at
mental because at they’re underground
we’re going to be open pit now before we
close Mr Johnson what would you like to
say to
shareholders we believe that this is an
excellent opportunity for an entry point
into the company one of the value d
drivers that we see is that our peers
and historically Junior explorers trade
roughly between 1 to 2% of the contained
metal the value of the contained metal
on their deposit we are well below that
we’re about 3/4 of 1% right now um so we
see that as a major uh revaluation for
the company as the market starts to
digest the the news that we just put out
on our resource and as we move that
resource forward to uh updating the
preliminary economic assessment and show
the economics of that we expect a
further evaluation so I encourage
everybody to add um Granite Creek to
their watch list uh follow along and um
and see that we deliver on our promises
uh with the resource update and the
updating paa on the way last question
sir what did I forget to
ask as usual you asked all the pertinent
questions Maurice I appreciate that your
time I appreciate the interview um I
look forward to talking to you again
well Mr Johnson for someone that wants
to learn more about Granite Creek copper
please share the contact details
absolutely check out our website at
www.gc.com and also you’ve been very
active on the metal the metallic group I
should say has been very active on
making a number of videos can you tell
us a little bit more about that yeah so
we um we we try to put out a video every
major news release um we started a
series of videos where we talk generally
about the markets um commodity prices
and that so yeah you can find a link on
our on our website to to our our YouTube
Channel and we encourage you to learn a
little bit about the markets and uh and
commodities in general Mr Johnson it’s
always a pleasure to speak with you
wishing you in Granite Creek copper the
absolute best sir all right thank
you the information presented on proven
improbable is provided for educational
and informational purposes only without
any Express or implied warranty of any
kind including warranties of accuracy
completeness or Fitness for any
particular purpose the information is
not intended to be and does not
constitute Financial investment or
trading advice or any other advice you
should not make any Financial investment
or trading decision based on any of the
information presented without first
undertaking independent due diligence
and consultation with a professional
broker or competent financial adviser
ABOUT GRANITE CREEK COPPER
Granite Creek Copper is a Canadian junior mining, exploration company focused on the advancement of its 100%-owned Stu Copper-Gold project located in the Yukon’s Minto Copper District. This 115-square-kilometer property is between, and on trend with, Pembridge Resources’ high-grade Minto Copper-Gold Mine and, to the south, the Carmacks Copper-Gold-Silver project held by Copper North of which Granite Creek holds a 30% interest. The Stu project has excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. Granite Creek Copper is one of top junior mining stocks and copper stocks 2021.
Granite Creek Copper: (TSX.V: GCX | OTC: GCXXF)
Website: https://www.gcxcopper.com/
Corporate Presentation: https://bit.ly/3gL3H8j
Granite Creek Copper
Suite 904-409 Granville Street
Vancouver, BC Canada V6C 1T2
Phone: 604-235-1982
TF: 888-361-3494
Email: info@gcxcopper.com
Metallic Group Youtube: https://www.youtube.com/channel/UCobhKA19tkJzMT0OI7Uxwww/videos
Website| www.provenandprobable.com
Call me directly at 855.505.1900 or email: Maurice@MilesFranklin.com
Precious Metals FAQ – https://www.milesfranklin.com/faq-mau…
Proven and Probable
Where we deliver Mining Insights & Bullion Sales. I’m a licensed broker for Miles Franklin Precious Metals Investments (https://www.milesfranklin.com/contact/) Where we provide unlimited options to expand your precious metals portfolio, from physical delivery, offshore depositories, and precious metals IRA’s. Call me directly at (855) 505-1900 or you may email maurice@milesfranklin.com.
Proven and Probable provides insights on mining companies, junior miners, gold mining stocks, uranium, silver, platinum, zinc & copper mining stocks, silver and gold bullion in Canada, the US, Australia, and beyond.
We cannot confirm if legendary investor Rick Rule is a shareholder.
#ProvenAndProbable #MilesFranklin #MetallicGroup