Vancouver, British Columbia, Jan. 20, 2022 (GLOBE NEWSWIRE) -- Universal Copper Ltd. ("Universal Copper" or the "Company") (TSX Venture: UNV) (Frankfurt: 3TA2) is pleased to announce commencement of a targeted drill core logging/re-logging exploration program at Poplar Copper Deposit (“Poplar”) led by Vector Geological Solutions Inc (“Vector”). The Poplar is the Company’s flagship project, located southwest of Houston, British Columbia.
The focused evaluation campaign was designed by Vector to advance the geological understanding of the deposit and identify additional drill targets. New copper-moly-gold targets will have the potential to increase the grade and tonnage of the existing resource.
Clive Massey, Universal Copper’s CEO and President commented, “The technical team at Universal Copper is utilizing the extensive drill core library that the company maintains for the Poplar Deposit. Advancing our technical understanding of the Poplar Deposit through the application of modern, cutting-edge exploration techniques and tools will produce robust diamond drill targets and significantly enhance the potential to increase the size and grade of the resource. Furthermore, a better understanding at Poplar will improve our ability to identify new targets elsewhere on the broader, prospective land position.”
The targeted drill core logging/relogging program will improve the 3D lithological, structural, alteration and geochemical framework. The work will be a foundation for drill hole targeting designed to expand the resource and increase the overall grade of the deposit. Exploration tools to generate mineral and geochemical targets include Portable XRF, TerraSpec Halo Spectrometer, and modelling software.
Core from the 2005 drilling programs onward, totaling in excess of 26,000 metres in 67 holes (inclusive of the 2021 program) will form the basis for the targeted drill core logging/re-logging campaign.
The Company continues to receive assays from the Q4 2021 drill program; they will be released upon review and QA/QC verification.
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 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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