VANCOUVER, BC / ACCESSWIRE / September 15, 2021 / Universal Copper Ltd. ("Universal Copper" or the "Company") (TSXV:UNV)(FSE:3TA1) is pleased to announce a drilling crew and geological team have been mobilized to carry out the 2021 drilling program at the Company's flagship Poplar Copper Project ("Poplar"), located southwest of Houston, B.C.
The Company is initially planning a 3,000-metre drill program to test the depth potential and expand the historic resource area.
Clive Massey, Universal Copper's CEO and President commented, "Finally after several delays beyond our control we are starting our drilling program on the Poplar. Our last two drilling programs increased the indicated tonnage on the property by 21.3 million tonnes at 0.32% copper. Our crew has worked hard to prepare for the start of the program, and we look forward to the drilling on the new copper targets. The Company believes Poplar is presently undervalued and sees this as a perfect time to leverage value with its Poplar Project. A continually strengthening copper price will add value to the project as well."
Drill Program Objectives
The objectives of the initial phase of the drilling program are:
- Expand the copper mineralization to depth
- Expand the limits of the higher grade mineralization within the historic resource.
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.
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 H. Massey
President & CEO
For further information, please contact:
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.
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.
SOURCE: Universal Copper Ltd.