International CuMo Mining Corporation (ICUMO) owns or controls the mining claims and rights to the CuMo Project.
On January 23, 2023, Idaho Copper Corporation (the Company) entered into and consummated the transactions contemplated by a share exchange agreement by and among the Company, International CuMo Mining Corporation, an Idaho corporation (“ICUMO”), and all of the shareholders of ICUMO (collectively, the “ICUMO Shareholders”). As a result of this share exchange, ICUMO became a wholly owned subsidiary of the Company.
Multi-Metal Development Ltd, a Canadian natural resource exploration and development company is the largest shareholder in Idaho Copper Corp.
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Summary:
CuMo deposit is an atypical type of porphyry called a “stockwork system,” in which most of the metal is contained in thin veins.
The CuMo deposit is a porphyry type deposit and has been classified as a porphyry copper molybdenum deposit (Klein, 2004; Spanski, 2004), or as a porphyry molybdenum-copper (low fluorine type) deposit (Mutchler et al, 1999).
The CuMo deposit is primarily of economic interest for its Mo content but contains significant values of Cu and Ag. Low-grade zones of copper enrichment typically form above and partially overlap with molybdenum shells in porphyry molybdenum deposits (Carten et al, 1993). The CuMo deposit is classified as a porphyry Mo-Cu deposit (Mo greater than 0.04% and Cu being potentially economically significant).
The CuMo deposit is typical of large, dispersed, low-grade molybdenum ± copper deposits. These systems are associated with hybrid magmas typified by fluorine-poor, differentiated monzogranite igneous complexes, characteristic of continental arc terranes. Due to their larger size, the total contained potentially economic molybdenum in these types of deposits can be equivalent to or exceed that of high-grade molybdenum deposits such as Henderson or Climax (Carten et al, 1993).
CuMoCo’s work has resulted in the interpretation and modelling of three distinct mineralized zones within the deposit. Re-interpretation of down-hole histograms for copper (Cu), silver (Ag) and molybdenite (MoS2) suggests the mineralized zones are part of a single, large, concentrically zoned system with an upper copper-silver zone (named Cu-Ag Zone), underlain by a transitional copper-molybdenum zone (named Cu-Mo Zone), in turn underlain by a lower molybdenum-rich zone (named Mo Zone). Three-dimensional modeling of the above zonation indicates the current area being drilled is located on the north side of a large system extending 4.5 km (15,000 ft) in diameter, of which 1.5 km (3,000 ft) has been drilled.
Baker (1983) noted that the “ranges of textures in the various dike types (TpA-TpF) overlap, but show a general trend from early, phenocryst-rich porphyries with large phenocrysts, to young, phenocrystpoor porphyries with small phenocrysts.
Three main intrusive types were observed in the holes drilled to date, including equigranular quartz monzonite, quartz monzonite porphyry, and intrusive breccia. Mafic dikes were also intersected locally. The equigranular quartz monzonite is considered to be the Idaho batholith (Unit Kqm) and locally contains K-feldspar megacrysts. The intrusive breccia is comprised of fragments of porphyry and equigranular quartz monzonite. All of the felsic intrusive phases contain molybdenite (MoS2) mineralization. The quartz monzonite porphyry (Unit Tbqmp) varies considerably in proportion and size of phenocrysts, with at least four varieties recognized. The first and possibly earliest phase (Unit Tbqmp Type I) is dark to medium grey, with 10-15%, <7 mm feldspar phenocrysts, 1-2% fine-grained biotite, and <5% quartz set in a fine-grained groundmass. The second phase (Unit Tbqmp Type II) is medium to light grey, with 30% feldspar phenocrysts and minor biotite set in a medium-grained groundmass. The third phase (Unit Tbqmp Type III) is similar to Type II but contains K-feldspar megacrysts. The fourth phase and possibly most recent is a crowded porphyry variant of Type III containing >30% feldspar phenocrysts set in a medium-grained groundmass. Type I through IV phases may correlate with Amax units TpD, TpB, TpA and TpC, respectively, and appear to follow a general pattern of early, phenocryst poor phases intruded by later phenocryst-rich phases, which is opposite to the general progression observed by previous workers.
Structure may be an important factor on the distribution of mineralization at the CuMo property. A strong northeast to east-northeast structural trend, characteristic of the trans-Challis fault system, is evident in the area of the property. The Tertiary dyke system trends in this same orientation with steep to moderate dips to the south. Faults and mineralized structures identified to date dominantly trend to the northeast as well. These include numerous small base and precious metal occurrences that occur in the area and surrounding the CuMo deposit with most of the major lodes striking east-northeast (N70E) whereas subordinate lodes are oriented northeasterly (N35E, N10-20E and N30-60E). Several fault zones, marked by sections of broken core, were logged in the drilling, which appear to offset the interpreted mineral zones. The full significance of these fault structures to the deposit geometry remains to be determined.
Mineralization
Mineralization on the property occurs in veins and veinlets developed within various intrusive bodies. Molybdenite occurs within quartz veins, veinlets and vein stockworks. Individual veinlets vary in size from tiny fractures to veinlets five centimeters in width, with an overall thickness averaging 0.3-0.4 cm. Pyrite and/or chalcopyrite are commonly associated with molybdenite although molybdenite can occur alone without other metallic mineralization.
Chalcopyrite occurs in quartz-pyrite + molybdenite veinlets, in magnetite + pyrite as well as in pyritebiotite + quartz + magnetite veins with secondary biotite halos. Scheelite is common on the property and closely parallels the distribution of molybdenite (Baker, 1983).