Vancouver, British Columbia, Jan. 13, 2022 (GLOBE NEWSWIRE) -- Universal Copper Ltd. ("Universal Copper" or the "Company") (TSX Venture: UNV) (Frankfurt: 3TA2) is pleased to announce the engagement of Vector Geological Solutions Inc. (“Vector”) of North Vancouver, Canada to compile, review and re-interpret surface and subsurface exploration data collected between 2011 through 2021, and to execute a targeted re-logging program designed to enhance exploration drill targeting at the Company’s flagship Poplar Copper Project ("Poplar"), located southwest of Houston, British Columbia.
Clive Massey, Universal Copper’s CEO and President commented, “We are very excited to have Vector’s accomplished team of exploration specialists join the Poplar Team as technical consultants. The next step forward at Poplar is to utilize the extensive porphyry experience and expertise of Vector Geological to leverage the information contained in the drill core and drive the next phase of the exploration program so we can increase the Poplar resource base.”
Daniel MacNeil founder of Vector Geological commented, “Universal Copper controls a large, strategic land position in an increasingly active copper-gold-silver endowed mineral belt in central British Columbia. The Poplar porphyry deposit constitutes a resource expansion stage exploration project that has excellent upside potential. The greater land position contains multiple high-quality exploration targets defined by favourable geology, alteration, and high resolution magnetic geophysical anomalies. These targets have the potential to maximise shareholder value through exploration drilling discovery”
Vector geologists Dr. Alan Wainwright and Daniel MacNeil will direct a systematic data compilation campaign of historical surface mapping, geochemistry, and geophysics to bring all information to a common framework. Concurrently, Vector will execute a targeted drill core re-logging program designed to enhance 3-dimensional lithology, structure, and geochemical models which together will form the basis of ongoing exploration targeting. Vector will leverage cost effective exploration tools including Portable XRF (“pXRF”) to establish geochemical vectors toward mineralization, and a TerraSpec Halo Spectrometer Mineral Identifier to quantify the composition, intensity, and 3D distribution of alteration minerals. These initiatives will define a comprehensive 3D exploration model which will be used to expand the Poplar deposit.
About Vector Geological
Vector Geological Solutions provides technical geological support to the exploration and mining industry. Two of Vector’s principal consultants are:
Dr. Alan Wainwright, an economic geologist with 20+ years of mineral exploration and research experience in North America, South America, Europe, and Asia, focused on base metals and gold. Dr. Wainwright’s Expertise includes copper/gold exploration, regional metallogeny and volcanic arc geology.
Mr. Daniel MacNeil, a precious and base metal specialist with 20+ years of experience from continental-scale project generation to in-mine resource expansion in a wide variety of geological settings throughout the Americas and Europe. Mr. MacNeill consults with mid-tier, private and junior mining/exploration companies globally.
About Poplar
The 61,600-hectare Poplar Project hosts a current undiluted indicated mineral resource of 152.3 million tonnes grading 0.32 per cent copper, 0.009 per cent molybdenum, 0.09 gram per tonne gold and 2.58 g/t silver and an undiluted inferred mineral resource of 139.3 million tonnes grading 0.29 per cent copper, 0.005 per cent 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 mineral resources, which are not mineral reserves, do not have demonstrated economic viability.
Poplar lies in a historic mining region, located 35km from the Huckleberry Mine and 42km from Equity Silver Mine, where low snowfalls will allow year-round work. The road accessible property is bisected by a 138 Kva Hydro electric line and lies 88km from Houston and 400km from the deep-water port at Prince Rupert by rail.
Qualified Person
The technical content of this New Release 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-based copper exploration company focused on the acquisition and exploration of copper properties. The Company's management team has many years of experience in exploration, finance, and efficient public company management. Universal's current focus is on advancing the Poplar Copper Project, one of the most advanced pre-production copper projects in British Columbia with a historic 43-101 resource.
For additional information, please visit the Company's website at www.universalcopper.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Clive Massey”
Clive H. Massey
President & CEO
For further information, please contact:
Investor Relations
Phone: (604) 341-6870
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Universal Copper Ltd. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Universal Copper Ltd. management on the date the statements are made. Except as required by law, Universal Copper Ltd. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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