Zeus is unlocking potential hidden beneath the proven but under-developed silver-rich terrain of Cuddy Mountain, 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 a top-tier jurisdiction with respect to mining and/or resource development.
Properties
Zeus recently acquired three properties in Idaho: 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 101 (Cuddy Mountain), 57 (Selway), and 38 (Great Western) lode mining claims, respectively, and cover a cumulative area of approximately 3,920 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 10 October 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 at www.herculesmetals.com). The chargeability anomaly was delineated by a 3D Induced Polarisation (IP) survey, which has since been expanded greatly. 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 was produced from 1950-52. Seven shallow drill holes were completed in 1977, and they 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 four feet. Underground drilling in 1979 intersected 1.38 oz/t Ag over seven feet 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 Barrick Gold to complete an initial investment of $23m in Hercules through a 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 50km both to the NW and south of Hercules, including major mining companies Barrick Gold and Rio Tinto. Hercules also completely staked around Zeus prior to announcing their discovery.
Cuddy Mountain Property highlights
Strong similarities have been identified between the Cuddy Mountain Property and the adjacent Hercules copper porphyry discovery:
• Both properties have Olds Ferry terrane rocks, including the Hercules Rhyolite and Seven Devils Volcanics.
• Both properties have a number of historical silver occurrences and/or small-scale mines hosted in rhyolite.
• Both properties are located along the Bayhorse Thrust Fault, a major structural corridor, which thrusts the rhyolite (hosts the silver mineralisation) overtop of volcanic (hosts the Leviathan Porphyry Copper mineralisation).
• Both properties are within an erosional window through the younger Columbia River basalts that cover the vast majority of the District.
Cuddy Mountain exploration
Zeus has now completed its 2024 exploration campaign, which will consist of:
• Property wide 3D-IP survey.
• Property-wide geological mapping.
• Prospecting and rock grab sampling (339 rock grab samples).
• Property wide ground magnetic survey (105 line kilometres).
• 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.
As we await the results, the exploration will culminate in the interpretation of the data and the selection of high-priority drill targets for 2025.
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 and up 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 this summer.
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 this summer.
Goldman Sachs says that: “Copper is the new oil” and “copper is on a necessary path to $15,000/t.” Silver is a real asset, 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: Cuddy Mountain, Great Western, and Selway results, new board members, and potential acquisitions.
Please note, this article will also appear in the 20th edition of our quarterly publication.
