New York Canyon is subject to an Earn-In with Option to Joint Venture Agreement (the 'Agreement') between Emergent and KEX. KEX has options to earn a up to a 75% interest in the Property by completing up to
About the NYC Property
NYC is located 30 miles east of
The South Block hosts the
KEX has staked an additional 257 unpatented claims around the North Block (the 'North Buffer Claims') and 110 unpatented claims around the South Block (the 'South Buffer Claims'), for an additional 367 unpatented claims. These additional claims do not fall under the Agreement and are outside the Area of Influence that is part of the Agreement. This brings the total number of claims that make up the New York Canyon Property to 21 patented claims and 784 unpatented claims, or approximately 6,350 ha (15,700 acres).
Plans for the 2023 Exploration Program at New York Canyon
South Block
As part of its 2023 exploration program (the '2023 Exploration Program') at New York Canyon, KEX plans to initially test a target to the southeast of the Copper Queen area. Note in 2021, hole NYCN008 intersected 101.89 m (334.28 ft) of 0.35% CuEq, including 17.40 m 57,09 ft) of 0.734% CuEq, 4.76 m (15.62 ft) of 0.783 CuEq, and 3.00 m (9.84 ft) of 1.062% CuEq The Copper Queen target appears to be extending to the southeast and drilling is planned to test this. Surface rock chip sampling has indicated increasing copper grades and an increased copper to zinc ratio as one look to the southeast of Copper Queen. The target is a moderate magnetic high and high chargeability anomaly under thin cover (
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