Vancouver, British Columbia, April 05, 2022 (GLOBE NEWSWIRE) -- Universal Copper Ltd. ("Universal Copper" or the "Company") (TSX Venture: UNV) (Frankfurt: 3TA2) is pleased to announce the follow up program to the successful fall 2021 drilling program has commenced at the Company’s flagship Poplar Copper Project ("Poplar"), located southwest of Houston, B.C.
The 2021 program encountered significant copper intersections including:
- 479.75 metres at 0.56% copper equivalent (CuEq*) – 0.408% copper, 0.013% molybdenum, 0.13 g/t gold and 2.89 g/t silver; and
- 432.8 metres at 0.57% copper equivalent (CuEq*) – 0.432% copper, 0.011% molybdenum, 0.15 g/t gold and 1.80 g/t silver; and
- an open 129 metres at 0.685% copper equivalent (CuEq*) – 0.546% copper, 0.15 g/t gold and 6.94 g/t silver at the base of 21-PC-135.
“We have been eagerly waiting to start drilling again at Poplar since the conclusion of the 2021 fall program was completed in early November,” commented Universal Copper’s CEO and President Clive Massey, “with the exceptional drill results released in January and March heightening the anticipation. We will be following up on the 21-PC-135 intersection where recent re-interpretation of the historic drilling suggests mineralization plunges to the northeast.”
The Company is planning approximately 2,000 metres in 4 holes to expand the 21-PC-135 mineralization and confirm its northeast plunge. After this Phase is completed and results have been interpreted in the context of the conclusions and recommendations of the Vector Geological Solutions Inc. (“Vector”) targeted re-logging program, the Company plans to undertake an early summer follow-up program.
Drilling is again being conducted by Apex Diamond Drilling Ltd. of Smithers, B.C. Rugged Edge Holdings will handle camp and logistics, while Waldo Sciences Inc. will handle core logging, sampling, and QA/QC protocols. Analysis will be completed by ALS Minerals (“ALS”) at its ISO/IEC 17025:2005 accredited North Vancouver laboratory.
*CuEq – copper equivalents are based on the following: copper (US$9,972.10 per tonne), gold (US$1,816.60 per ounce), silver (US$22.90 per ounce) and molybdenum (US$41,836.39 per tonne)
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 Hydroelectric 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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