Resource Estimate

Granite Creek Copper announced an updated NI 43-101 mineral resource estimate for the Carmacks Copper-Gold-Silver project in a news release dated March 15, 2022. The full report will be available on the Company’s profile at www.sedar.com.

The Company cautions that the results of the preliminary economic assessment is preliminary in nature, that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized Ms. Debbie James, P.Geo., a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained herein.

Cu=copper, Au=gold, Mo=molybdenum, Ag=silver, Mt=millions of tonnes, Mlbs=millions of pounds, klbs=thousands of pounds, koz=thousands of ounces.  Mineral Resources are reported using the 2014 CIM Definition Standards.  Mineral Resources are reported within a conceptual constraining pit shell that includes the following input parameters:  Metal prices of $3.60/lb Cu, $1,750/Au, $22/oz Ag, $14/lb Mo and pit slope angles that vary from 35° for overburden to 55°for granodiorite host, metal prices are in US$.  Metallurgical recoveries reflective of prior test work that averages: 85% Cu, 85% Au, 65% Ag in the oxide domain and 90% Cu, 76% Au, 65% Ag in the sulphide domain. Mo recovery is assumed to be 70% in both oxide and sulphide domain. Tonnes are metric tonnes, with Cu and Mo grades as percentages and Au and Ag grades as gram per tonne units. Cu and Mo metal content is reported in lb and Au and Ag content is reported in troy oz. Totals and Metal content may not sum due to rounding and significant digits used in calculations.  Cu Eq calculation is based on 100% recovery of all metals using the same metal prices used in the resource calculation: $3.60/lb Cu, $1,750/Au, $22/oz Ag, $14/lb Mo.


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