Vancouver, British Columbia, July 12, 2022 (GLOBE NEWSWIRE) -- Universal Copper Ltd. ("Universal Copper" or the "Company") (TSX Venture: UNV) (Frankfurt: 3TA2) is pleased to report drill results from the remaining Spring 2022 diamond drilling program holes at the Company’s flagship Poplar Copper Deposit (“Poplar”), located southwest of Houston, British Columbia (Table 1). All drill targets in the Poplar copper-gold exploration district are shallow and road accessible, within 88 km of rail infrastructure.
Highlights:
- Hole 22-PC-138 – 0.500% copper equivalent (CuEq)– 0.401% copper, 0.15 g/t gold and 1.27 g/t silver over 214.4 metres;
- Hole 22-PC-139 – 0.564% copper equivalent (CuEq) – 0.412% copper, 0.02% molybdenum, 0.10 g/t gold and 1.14 g/t silver over 162.8 metres
- within a larger interval of 222.8 metres at 0.0461% CuEq – 0.338% copper, 0.017% molybdenum, 0.08 g/t gold and 0.96 g/t silver
- within a larger interval of 222.8 metres at 0.0461% CuEq – 0.338% copper, 0.017% molybdenum, 0.08 g/t gold and 0.96 g/t silver
Clive Massey, Universal Copper’s CEO, stated: “Our ongoing ability to recover long intervals of porphyry copper mineralization at Poplar is the result of several months of focused technical work including drill core re-logging and detailed geological modeling. The three-dimensional targeting framework is coming into focus for the first time in the project history and Universal Copper intends to leverage newly defined geological controls on mineralization to continue to produce robust porphyry copper intercepts. Our objective is to increase the grade and tonnage of the Poplar Resource and establish it as a top-tier road accessible deposit in the Central British Columbia Porphyry-Epithermal Belt.”.
Table 1. 22-PC-138 and 22-PC-139 intersections.
| HOLE | FROM | TO | LENGTH | Cu | Mo | Au | Ag | CuEQ* |
| ID | (m) | (m) | (m) | (%) | (%) | (g/t) | (g/t) | (%) |
| 22-PC-138 | 4.6 | 219 | 214.4 | 0.401 | 0.001 | 0.147 | 1.27 | 0.500 |
| 22-PC-139 | 8.2 | 171 | 162.8 | 0.412 | 0.020 | 0.104 | 1.14 | 0.564 |
| 22-PC-139 | 8.2 | 231 | 222.8 | 0.338 | 0.017 | 0.081 | 0.96 | 0.461 |
* Copper equivalents based on the following: copper US$9,972.10 per tonne, gold US$1,816.60 per ounce, silver US$22.90 and molybdenum US$41,836.39 per tonne.
Because of the disseminated nature of the mineralization at the Poplar Deposit, it is not possible to make a statement as to the true width for holes 22-PC-138 and 22-PC-139.
Figure 1. Drill Hole Locations.
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The 2022 Poplar drill holes were designed to: a) follow-up on the 0.546% copper over 129 metres discovered in the bottom of 21-PC-135; b) expand the higher-grade portion of the known mineralization to the northwest and c) test the first of the Vector Geological Solutions targets identified from their early 2022 targeted drill core logging initiative announced on January 13th, 2022.
Hole 22-PC-138 was designed to test the southwest edge of the apparent low-grade core of the high-grade ring associated with the Main Zone. The hole intersected 214.4 metres averaging 0.401% copper, before trending into the lower grade material. A 5 metre shear zone with fault gouge at 204 metres roughly corresponds to the marked decrease in grade, suggesting high grade domain is fault bound as has been suggested by the recent geological modeling by Vector Geological Solutions.
Figure 2. Section 5986800N
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Mineralization and alteration in drill hole 22-PC-138is associated with intensely altered porphyry intrusions and consists of pyrite, chalcopyrite, molybdenite and trace bornite. Pyrite and chalcopyrite form disseminations, fracture fillings, stringers, veins, and veinlets in domains of dense quartz vein stockwork and dikes. Molybdenite, where observed is associated with quartz-sulphide veins, and is typically associated with pyrite and chalcopyrite.
Potassic alteration (biotite and K-feldspar) of varying intensity and silicification were noted through the strongly mineralized upper section of 22-PC-138, with sericite and silicification dominating below the fault.
Figure 3. Section 631500E
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Drill hole 22-PC-139 was designed to test one of the target areas identified by the Vector Geological Solutions geological modeling. The hole significantly expanded the mineralization footprint to the northwest, intersecting 162.8 metres of 0.412% copper within a longer 222.8 metre interval of 0.338% copper.
Mineralization in drill hole 22-PC-139 is characterized by disseminated pyrite and chalcopyrite, quartz veinlet pyrite, chalcopyrite and local molybdenite. Alteration consists of moderate to intense potassic flooding, silicification in addition to sericite, with the potassic alteration decreasing toward the bottom of the hole.
Table 2. Drill Hole Data
| 22-PC-138 Statistics | 22-PC-139 Statistics | ||||||||
| ppm Cu | ppm Mo | g/t Au | g/t Ag | ppm Cu | ppm Mo | g/t Au | g/t Ag | ||
| Max | 9010 | 211 | 0.530 | 4.28 | 7550 | 496 | 0.232 | 4.19 | |
| Min | 24 | 1 | 0.001 | 0.04 | 46 | 6 | 0.002 | 0.11 | |
| Median | 875 | 3 | 0.031 | 0.57 | 1780 | 96 | 0.029 | 0.68 | |
| Mean | 824 | 4 | 0.034 | 0.48 | 1383 | 73 | 0.030 | 0.68 | |
QA/QC
The entire length of core for 22-PC-138 and 22-PC-139 was sawn and sampled at continuous 3 metre or less intervals, with a few samples taken at shorter or longer intervals based on apparent lithological, alteration or mineralization contacts. The program was supervised by independent geologist Ray Wladichuk, P.Geo. Half of the core was bagged, sealed and securely stored until shipment to the laboratory. The other half was retained in a secure storage location. Certified reference standards, a certified reference blank, and sample duplicates were placed in the sample stream of each drill hole alternating at every 10th to 18th interval. The secured and sealed samples were packed into rice bags, sealed and securely stored until they were turned over to the local trucking company for transport to the ALS prep lab in Kamloops, B.C. with the prepared pulps subsequently sent to the ALS Mineral Laboratory ("ALS") in North Vancouver, B.C. The North Vancouver lab holds an ISO/IEC 17025:2005 accreditation.
All core samples were analyzed utilizing ALS's MEICP-61 procedure, a four-acid digestion of a one-gram sample with an ICP finish. All core samples were also analyzed utilizing ALS’s Au-ICP21 procedure, a 30-gram gold fire assay with an ICP-AES finish. Over limits were re-analyzed utilizing ALS’s OG-62 procedure, an ICP-AES 4 acid procedure.
In addition to Universal’s third-party standards, a routine quality assurance/quality control (QA/QC) procedure monitored the analytical quality at the lab. Certified reference materials (CRMs), pulp duplicates and blanks were inserted into each lab batch of samples. The Universal and ALS Lab QA/QC data showed no irregularities.
About Poplar
The 61,566-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 the rail head at 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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