Zeus is unlocking potential hidden beneath the proven but underdeveloped silver-rich terrain of Idaho by tapping into a newly identified copper district.
Zeus North America Mining Corp. (CSE:ZEUS II, OTCQB: ZUUZF II, FRANKFURT: O92) has a foothold in Idaho with three properties highlighted by its flagship property, the Cuddy Mountain Property, in Western Idaho. Idaho is considered to be a top-tier jurisdiction with respect to mining and/or resource development. The opportunity is the discovery of a Tier One porphyry Cu (+/-Mo +/-Ag) deposit.
Properties
Zeus recently acquired three properties in Idaho named Selway, Great Western, and its flagship Cuddy Mountain. The properties were all acquired based on known silver mineralisation and with undetermined Porphyry potential until recently. The Properties consist of 102 (Cuddy Mountain), 57 (Selway), and 38 (Great Western) lode mining claims, respectively, and cover a cumulative area of approximately 4000 acres. All the properties are road accessible.
The Cuddy Mountain Property
Zeus’ Cuddy Mountain Property is adjacent to Hercules Metals Corp.’s (TSXV: BIG, ‘Hercules’ or ‘Hercules Metals’) Leviathan Porphyry Copper Discovery. On October 10th, 2023, Hercules announced the results from drill hole HER-23-05. This was the first hole to test a large-scale (>1.8km) blind chargeability anomaly, which intersected 185.29m of 0.84% Copper (‘Cu’) and 111 ppm Molybdenum (‘Mo’) from 246m to 431.2m, including 45.33m of 1.94% Cu within the Seven Devils Volcanics.
The hole ended prematurely due to drilling challenges; however, observations in subsequent holes indicate that the mineralisation likely extends significantly below HER-23-05 at 435m (see Hercules press release dated 10 October, 2023). The chargeability anomaly was delineated by a 3D Induced Polarisation (‘IP’) survey, which has since been greatly expanded. The copper mineralisation is open at depth and in all directions.
More recently (9 April, 2024), Hercules reported on their expanded 3D IP survey, which delineated multiple new targets with the strongest anomalies open to the northeast where Zeus’ Cuddy Mountain Property is positioned. Initial drill results from the Hercules 2024 programme continue to be spectacular, highlighted by drill hole HER-24-08 containing 480m @ 0.47% Cu, including 55m @ 1.47% Cu, which again ended in mineralisation (see Hercules press release dated 10 October, 2024).
Historical exploration at the Cuddy Mountain Property
Lead Zone Mine: Historical small-scale Silver/Lead mine averaging 3.5 oz/t silver, which produced from 1950-52. Seven shallow drill holes were completed in 1977, which intersected anomalous lead and silver. Drill hole Mun 8 contained 90ft of 2.02 ounces per ton silver (‘oz/t Ag’)(Taylor, 1977).
Edna May Mine: This historical occurrence hosts a mineralised vein with rock chip samples containing 750 parts per million lead (‘ppm Pb’), 7.7% zinc (% Zn), and 252 parts per million silver (‘ppm Ag’) over 4ft. Underground drilling in 1979 intersected 1.38 oz/t Ag over 7ft in a breccia zone (Burmeister, 1980).
Rockslide area: Malachite-stained (Copper) outcrops with a grab sample containing 760 ppm Pb, 0.67 % Zn, and 36 ppm Ag (Taylor, 1977).
Staking rush and major mining companies
The Leviathan Porphyry Copper discovery led to Barrick Gold completing an initial investment in Hercules of $23m by way of share purchase. As this belt was not previously recognised as a porphyry copper district, the discovery spurred a massive staking rush consisting of over 10,000 claims over nearly 60km both to the NW and south of Hercules and including Major Mining Companies, Barrick Gold, and Rio Tinto. Hercules also completely staked out around Zeus prior to announcing their discovery.
Opportunity: Discovery of Tier One porphyry Cu (+/-Mo +/-Ag) deposit
- Project is located within the southern extension of the porphyry Cu Stikinia/Quesnel terrains.
- Neighbouring Scout Discoveries have >10 km2 of a younger outcropping porphyry Cu system adjacent to the Hercules Leviathan blind porphyry copper discovery.
- Property Geology: The presence of the Seven Devils Volcanics (Andesites) and associated Cu-Mo soil anomaly.
Cuddy Mountain 2024 exploration result highlights
Zeus has now completed its 2024 exploration campaign. Zeus is permitting five spatially separate drill pads at Cuddy Mountain. The drill pads are designed to test the strongest portion of the coincidental anomalies. The results highlight the potential for both skarn and porphyry copper mineralisation across the mapped prospective Seven Devils Volcanics. More specifically, the coincidental anomalies consist of:
- Property wide 3D-IP survey:
- Broad, continuous zones of moderate to strong chargeability (>20ms up to 60ms) trending NE-SW, indicative of extensive sulphide mineralisation potential. The top of the chargeability anomaly is approximately 100-150m depth from the planned drill collars.
- Prospecting and rock grab sampling (339 Rock Grab Samples):
- 35 samples contain 0.1% copper (‘Cu’) or more; 16 samples contain greater than 1.1 % Cu, up to and including 3.8% Cu;
- 29 samples contain 10 grams per tonne silver (‘g/t Ag’) or more; nine samples contain more than 129 g/t Ag, with values up to and including 307 g/t Ag;
- 26 samples contain 10 g/t molybdenum (‘Mo’) or more; five samples contain more than 40 g/t Mo, with values up to and including 182 g/t Mo (with 0.37g/t Au).
- Soil sampling (799 Soil Samples). Shallow level porphyry style alteration has been mapped using copper-in-soil anomalies in and around historically defined silver mineralisation:
- The newly identified copper-molybdenum soil anomaly contains individual soil samples up to 0.38% copper and 28.5 parts per million (‘ppm’) molybdenum (31 samples contain 212 ppm Cu or more; five samples contain percent level copper up to and including 0.38% Cu; 116 samples contain two ppm Mo or more; six samples contain more than 10 ppm Mo, with values up to and including 28.5 ppm Mo).
- Property-wide ground magnetic survey (105-line km):
- Magnetic highs, which could indicate a potassic core of a porphyry system or adjacent magnetic lows reflecting alteration halos;
- Magnetic highs occurring adjacent to and beneath the chargeability feature highlight a prominent interface along the Columbia River Flood Basalts, paralleling the chargeable body. Integration of these overlapping geophysical signatures helps outline the compelling exploration target for skarn and/or porphyry copper mineralisation within the Cuddy Mountain Property.
- Property-wide geological mapping highlighting the presence of the Seven Devils Volcanics, coincident with the coincidental anomalies/overlying data sets.
The Great Western Property
The Great Western Property is located in southeast Idaho and consists of 38 lode mining claims. The primary exploration target at the Great Western Property is a Carbonate Replacement Deposit. A blind porphyry may be the source of the mineralisation. Rock grab samples collected in the area have up to 7300 g/t Ag and from 0.61% Cu to 4.25% Cu.
A historical, non-compliant 43-101 resource of 4,900 indicated tons averaging 1.7 oz/t Ag, 3.6% Pb, and 0.5% Cu (McHugh et al., 1991).
- Preliminary reconnaissance rock grab sampling was completed at the Great Western Property during late 2024.
- Results include: six samples with greater than 97 g/t Ag, including samples up to 1155 g/t Ag; four samples with greater than 0.17% Cu, including samples up to 0.52% Cu.
The Selway Property
The Selway Property is located in north-central Idaho and consists of 57 lode mining claims. The primary exploration target at the Selway Property is an intrusive-related Gold-Silver (+/- base metal) vein deposit underlain by a tonalitic orthogneiss and foliated granodiorite unit. Recent rock grab samples contain 1.37 grams per tonne (‘g/t’) gold and 7.25 g/t silver. Historic grab samples from an old ore bin contain 53.6 oz/t silver and 1.08 oz/t gold (Gordon, 1973).
Preliminary reconnaissance rock grab sampling was completed at the Selway Property during late 2024.
Goldman Sachs says that ‘Copper is the New Oil’ and that “Copper is on a necessary path to $15,000/t”. Silver is a real asset that is used for currency, investment, and industrial purposes. Silver’s versatility is resulting in record demand, with declining production. Therefore, Zeus is positioned to capitalise on two of the most dynamic, promising metals driving the economy today, Copper and Silver. The macro demand for Silver and Copper is driving the future, and with metal prices reaching new highs, Zeus is well-positioned.
For investors looking for exposure to America’s newly discovered porphyry copper district, Zeus is a compelling company with a land package adjacent to Hercules Metals and their Leviathan Porphyry Copper discovery. Potential catalysts for growth and re-rating of the Company’s stock price over the next two quarters include potential acquisitions, increasing board strength, and drilling permits leading towards the next major porphyry discovery in the US.
Please note, this article will also appear in the 22nd edition of our quarterly publication.
