Yukon Metals samples up to 3.49% copper at AZ property

Yukon Metals (CSE: YMC, OTCQB: YMMCF) shares rose on Wednesday following the release of its first exploration results from the AZ project, highlighted by sampling that returned copper grades as high as 3.49%.

The Canadian junior kicked off exploration on the 117.5 sq.-km AZ property last September with a helicopter-supported mapping and sampling program. A prominent zone of rust-colored, iron-stained rock was followed over 1.2 km on the northern and eastern flanks of Chair Mountain, an area with limited historical work.

According to Yukon Metals, its team found consistent copper mineralization along this prospected area. Of the 60 rock chip samples taken, 18 samples showing significant copper content, with assays ranging from 0.12-3.49%.

Commenting on the surface sampling results, CEO Rory Quinn said: “Yukon Metals is moving forward with an exciting phase of exploration, including advancing drilling at AZ’s Chair Mountain and conducting detailed mapping and sampling to define additional targets."

The latest exploration results sent Yukon Metals' shares 9.1% higher at $0.60 apiece in Wednesday's morning session, with a market capitalization of $53.4 million. Over the past 52 weeks, it traded between $0.32 and $1.00.

The 100%-owned AZ represents the largest of 17 properties across 425 sq. km held by the company in Canada's Yukon. It is located 35 km south of the community of Beaver Creek. The Chair Mountain area is 6 km from the Alaska Highway.

The property is host to four historic mineral occurrences (Wrangell, California, Nutzotin and Chair Mountain), listed respectively by the Yukon Geologic Survey as porphyry copper-molybdenum-gold, intrusion related gold, skarn copper, and polymetallic vein hosted silver-lead-zinc+/-gold. Yukon Metals believes the AZ property occurs in a similar geologic setting to deposits just across the Yukon-Alaska border, such as Bond Creek and Orange Hill.

Looking forward, Quinn added that the company has drilling planned at three key projects: the Star River gold-silver property, the Birch copper-gold property and the AZ property, all holding potential for copper, precious and critical metals discoveries.

Last week, Yukon Metals announced that it has identified several high-priority drill targets at the Birch project, where rock chip sampling returned values up to 2.42% copper and 14.1 g/t gold. The 70-sq.-km property is located 65 km northeast of Burwash Landing, Yukon.