Firestrike Resources has completed a 19-hole, 2,000 meter reverse circulation drilling program testing the first of over 6 drill targets at the Elephant Canyon copper and gold porphyry project in Utah.

Elephant Canyon is located south of Rio Tinto’s Bingham Canyon mine, in a similar geological setting. Bingham Canyon is one of the world’s largest copper mines, generating more than 300,000 tonnes of copper and 400,000 ounces of gold each year.

Firestrike conducted the drilling on the priority target of the Coronado fissure zone and is following up on gold identified in recent surface samples and numerous historical workings.

To date drilling, which covered a zone that is about 1.2 kilometers long and 400 meters wide has encountered numerous ferruginous fissure zones which have been the focus for historical gold and silver mining, and malachite stained skarn surrounding the Vicksburg granodiorite stock.

The Elephant Canyon Project is located close to major infrastructure including railroad, highway and power and is 200 kilometers south of Utah capital Salt Lake City. The project which Firestrike entered into an agreement with Escalante Star to acquire a majority interest in earlier this year, features porphyry related mineralisation which plays host to many of the world class deposits for copper and other poly metallic ores.

This mineralization is within one of three well defined mineral fields with the other two as hosts to the Bingham mine and the Tintic mining district respectively. The project is considered highly prospective for gold, silver and base metals. Under the Letter of Intent signed with Escalante in January, Firestrike can acquire up to 80% of equity in the project through the completion of set milestones.

Source - Proactive Investors.com

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