Universal Copper keeps pushing the poplar forward
VANCOUVER, British Columbia, November 23, 2021 (GLOBE NEWSWIRE) – Universal Copper Ltd. (“Universal Copper” or the “Company”) (TSX Venture: UNV) (Frankfurt: 3TA1) is pleased to provide an update on the 2021 exploration season to the Poplar Copper Company’s flagship project (“Poplar”), located 88 KM SW of Houston, BC.
Universal was active at Poplar in 2021, completing a 3,000-meter 6-hole drill program and updated mineral resource estimate at the Poplar deposit, completing an in-depth review of historical exploration data at the outside the Poplar deposit itself, and making two acquisitions to bring the total area of the property to 61,600 hectares.
Clive Massey, CEO and President of Universal Copper, said: “We have ended a very busy and successful year at Poplar, as we look forward to the results of the 2021 program scans. We have increased the size of the company. poplar mineral resource estimate and identified 9 high priority targets across the property. We envision an even busier year 2022, where we plan to engage some porphyry expertise, plan to significantly expand the drilling program, and plan to begin exploration of some of the priority targets across the property.
“Global demand for copper is expected to continue to increase due to copper’s indispensable role in modern technologies, including electric vehicles, cell phones, electronics and computer hardware. This ever-increasing demand will continue to drive up copper prices, ”Massey continued.
Mineral resource estimate
Ashton and Robb completed an updated 2011 poplar mineral resource estimate, incorporating the 2018 and 2019 drilling programs. The Poplar deposit contains an undiluted indicated mineral resource of 152.3 million tonnes grading 0 , 32 percent copper, 0.009 percent molybdenum, 0.09 grams per tonne of gold and 2.58 g / t silver; and an undiluted inferred mineral resource of 139.3 million tonnes grading 0.29 percent copper, 0.005 percent molybdenum, 0.07 g / t gold and 4.95 g / t silver. The technical report in support of the mineral resource estimate can be found under the Universal Copper profile on SEDAR.
Mercator Geological has completed a compilation review of all historical data on the remainder of the Poplar property. They focused on 9 target areas, defined by historical exploration, mainly geochemistry and surface mapping and some ground geophysics, a 2009 airborne magnetic and electromagnetic survey and a long wave infrared (LWIR) survey. 2017. Priority targets include Copper Pond, Pumpernickel, and Alder, with the six additional targets including Hemlock, Aspen, Lily, Birch, Spruce, and Duck Lake. See universal press releases dated: 2021-April-04, 2021-April-27 and 2021-May-04.
Universal completed two property acquisitions, adding 18,000 hectares to the south, east and west through the purchase of Poplar Copper Corp. and an additional 4,631 hectares to the southwest through the purchase of BA Copper Corp.
Commitment of the marketing service provider
The Company has entered into an advertising and promotional services agreement with Vastani GmbH (“Vastani”) for a period of six weeks from November 9, 2021. Pursuant to the terms of the agreement, Vastani will provide content and strategy services for brand, ad creation services, ad traffic management and lead generation, question-and-answer article and podcast creation services, social media services, press release distribution and services editorials for which Vastani will receive a total cash amount of 110,000 euros over the term of the agreement and will be issued 795,000 incentive stock options (exercisable at a price of $ 0.10) pursuant to the plan. options to purchase shares of the Company. Neither Vastani nor its affiliates currently own any securities of the Company. Vastani and the Company are unrelated and unaffiliated entities.
The 61,600 hectare Poplar Project is home to a current undiluted Indicated Mineral Resource of 152.3 million tonnes grading 0.32% copper, 0.009% molybdenum, 0.09 grams per tonne gold and 2.58 g / t silver and an inferred undiluted mineral resource of 139.3 million tonnes grading 0.29% copper, 0.005% molybdenum, 0.07 g / t gold and 4.95 g / t silver . The mineral resource estimate has a cut-off grade of 0.20% copper. Universal Copper cautions investors that mineral resources, which are not mineral reserves, have not demonstrated their economic viability.
Poplar is in a historic mining area, 35 km from the Huckleberry Mine and 42 km from the Equity Silver Mine, where light snowfall will allow year-round work. The road accessible property is split in half by a 138 kva hydroelectric line and is 88 km from Houston and 400 km from the Prince Rupert deepwater port by rail.
The technical content of this new version has been reviewed and approved by R. Tim Henneberry, P.Geo. (BC) a member of the company’s advisory board and a qualified person under National Instrument 43-101.
About universal copper
Universal Copper Ltd. is a Canadian copper exploration company focused on the acquisition and exploration of copper properties. The Company’s management team has many years of experience in the exploration, finance and effective management of public companies. Universal’s current goal is to advance the Poplar Copper Project, one of the most advanced pre-production copper projects in British Columbia with a historic 43-101 resource.
For more information, please visit the company’s website at www.universalcopper.com
ON BEHALF OF THE BOARD OF DIRECTORS
Clive H. Massey
President and CEO
For more information, please contact:
Telephone: (604) 341-6870
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This press release contains certain statements which may be considered “forward-looking” statements. Forward-looking statements are statements which are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends to”. “,” Estimate “,” plans “,” potential “and similar expressions, or that events or conditions” will “,” would “,” could “,” could “or” should “occur. Although Universal Copper Ltd. Believe that the expectations expressed in these forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those of forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the management of Universal Copper Ltd. on the date the declarations are made. Unless required by law, Universal Copper Ltd. assumes no obligation to update these forward-looking statements in the event that the beliefs, estimates or opinions of management, or other factors, should change.