GreenLight Metals drills 30.62 metres at 1.20% copper at Bend
The copper-gold intercept lies about 55 metres down-dip of an earlier hole, supporting the company's eastern zone interpretation.
Mara Quinlan
GreenLight Metals Inc. CVEGRL OTCMKTSGRLMF reported on Tuesday that drilling returned 30.62 metres at 1.20 per cent copper and 1.33 grams per tonne gold at its Bend project in Wisconsin. The result in B26-016 supports the company's interpretation of copper-gold mineralization continuing about 55 metres down-dip of an earlier hole.
Shares fell 5 per cent to C$0.19 on the TSX Venture Exchange at Monday's 4:00 p.m. EST close, before Tuesday's release, according to CVEGRL. GreenLight is exploring the Bend copper-gold deposit in Taylor County.
The new interval begins at a downhole depth of 468.12 metres and contains two higher-grade sections. The company estimates true thickness at approximately 70 to 75 per cent of drilled length.
Assays remain pending for hole B26-017, whose extension of the zone in the company's long section is based on geological logging. The new result establishes grades in a hole previously described through visual observations of sulphides.
"More than 30 metres of mineralization, with two higher-grade intervals, strengthens our interpretation of the eastern copper-gold zone," chief executive Matt Filgate said in the release.
One included section runs for 6.51 metres at 2.15 per cent copper and 1.71 grams per tonne gold. It starts at the same depth as the broader interval.
The second higher-grade section starts at 487.54 metres and runs for 11.20 metres. It returned 1.28 per cent copper and 1.56 grams per tonne gold, with both included sections contained within the headline interval.
The earlier hole, B26-015, was reported on Oct. 22. Its 25.17-metre interval returned 1.30 per cent copper and 1.30 grams per tonne gold, providing the shallower comparison for the new down-dip test.
The main interval also returned 16.77 grams per tonne silver. Its reported copper-equivalent grade is 2.67 per cent, combining copper, gold and silver while excluding tellurium.
The Nov. 10 calculation assumes US$4.50 a pound for copper and US$3,600 an ounce for gold. The same Nov. 10 calculation values silver at US$40 an ounce.
Assumed recoveries are 90 per cent for each metal. GreenLight says actual recoveries and payabilities remain unknown, and the calculation excludes smelting and refining charges, penalties and payability adjustments.
GreenLight says the latest intersection supports continuation down-dip and along the zone's projected eastward plunge. The zone boundaries shown in its figures remain interpretations.
Read more: American Eagle Gold drills 844 metres at 0.30 per cent CuEq at NAK
GreenLight's Sept. 22 program update identified the copper-zone trend and a geological transition targeted by planned hole B26-018 as priorities for the remaining drilling. That update said results would guide the next drilling stage.
The company's Sept. 22 update identified winter 2026/27 drilling as the next seasonal milestone, subject to required authorizations.
