Universal Copper Ltd. has reported it has completed the 2021 Phase I drilling program at the Company’s flagship Poplar Copper Project, located southwest of Houston, British Columbia.
Apex Diamond Drilling Ltd. completed 3,003 metres in six vertical holes across the deposit. The first two holes have been dispatched to the main ALS Minerals Lab in North Vancouver, an ISO/IEC 17025:2017 accredited facility. The remaining four holes are currently being sawn top to bottom; each hole will be dispatched to ALS once sampling is completed.
The focus of the program was to expand the copper mineralization to depth and expand the limits of the higher-grade mineralization within the current mineral resource. The drill program was completed as anticipated.
The six holes will also provide material for metallurgical work, with the testing to include: sample preparation and characterization, mineralogy, comminution testing, flotation testing and product characterization. The Company is reviewing quotes from various firms with the expectation of shipping the metallurgical samples at the conclusion of the sampling. Metallurgical testing was one of the recommendations by the QP in recently announced Mineral Resource Estimate.
Clive Massey Universal Copper’s CEO and President commented,”We are very pleased our drill program was executed without a hitch and we eagerly await the assay results. As with our earlier drill programs, the Company anticipates further increases in tonnage and grade of the overall mineral resource from this program.”
He continued, “The Company views Poplar as an undervalued asset, with a continually strengthening copper market driven by the Green Revolution where New York COMEX copper forward delivery in December reached $4.8055 per pound ($10,572 per tonne), a record high.”
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.
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.