Vancouver, British Columbia, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Universal Copper Ltd. ("Universal Copper" or the "Company") (TSX Venture: UNV) (Frankfurt: 3TA2) is pleased to announce all samples from its recently completed drill program at the Poplar Copper Project ("Poplar"), located southwest of Houston, B.C. have now been shipped to the ALS Minerals Laboratory (“ALS”) in North Vancouver, BC for analysis.
As the year draws to a close and with the core at the lab, the Company anticipates that it will be releasing the assay results from our 3,000-metre six-hole program through January and February 2022. Once the results have been released, the Company will initiate metallurgical testing with material from the six holes later in the first quarter.
As previously mentioned, the permit extension for 2022 is in process, which will allow the Company to drill on a further eighty (80) sites as we continue to move the Poplar inferred resources to indicated resources forward and work at increasing resources to depth and to the west. The Company is reviewing exploration plans for the nine (9) high priority targets throughout the property for drilling in the second quarter 2022.
Clive Massey, Universal Copper’s CEO and President commented, “We anticipate a big year in 2022, and we are incredibly happy to finally have the core in the lab and in the queue for analysis and results. Visible copper was observed in the core at the time it was split., and we are looking forward to releasing the results as they are made available. I would like to mention, it is reported that the labs are very backed up at the present time as a function of being busy as well as short of staff, unfortunately resulting in delays with obtaining results.”
QA/QC
The entire length of core was sawn and sampled at continuous 3 metre or less intervals, with several samples taken at shorter or longer intervals based on apparent lithological, alteration or mineralization contact. The program was supervised by independent geologist Raymond Wladichuk, P.Geo. of Waldo Sciences Inc. 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, dolomite blanks and sample duplicates were placed in the sample stream of each drill hole alternating at every 10th 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 Minerals Laboratory ("ALS") in North Vancouver, B.C. ALS Minerals hold an ISO/IEC 17025:2005 accreditation, and are independent of both Universal and Doctors Group, the property vendor.
All core samples will be 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.
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 an 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.
