Universal Copper adds drill rig to Poplar
2022-03-30 09:11 ET – News Release
Mr. Clive Massey reports
UNIVERSAL MOBILIZES DIAMOND DRILL TO POPLAR
Universal Copper Ltd. has mobilized its drill for the next phase of drilling at its flagship Poplar copper project, southwest of Houston, B.C. The company is planning on following up on the results of the November, 2021, program, including hole 21-PC-135, which bottomed in 129 metres of 0.685 per cent copper equivalent* (see March 23, 2022, news release).
The spring 2022 drill program will take place in two phases. The first phase will comprise four holes totalling 2,000 metres and will test the area down plunge from 21-PC-135 as well as test some of the initial concepts resulting from the Vector Geological Solutions Inc. targeted relogging program (see Jan. 20, 2022, news release).
Vector Geological relogged approximately 7,000 metres of drill core from a series of strategic cross sections and long sections across the deposit. Initial conclusions from the program indicate geological controls of mineralization were identified and a new structural framework for Poplar was established. Three-dimensional modelling for target generation for new mineralization and higher-grade areas within the existing resource is currently in progress.
Clive Massey, Universal Copper’s chief executive officer and president, stated: “The company is eager to get back on the ground to follow up the excellent drill results from our November, 2021, drill program which were released Jan. 18, Jan. 25 and March 23. We are very excited with the initial results emerging from Vector’s targeted relogging program and plan a quick follow up on their recommendations later in the spring. Our compilation work in the southeastern corridor has advanced our permitting and timetable and we are working toward drilling late summer/early fall. All in all, we believe 2022 will be a banner year for Universal shareholders.”
Exploration permitting
While Universal Copper continues its 2022 Poplar deposit exploration under its current permit, the company submitted an application to amend the existing permit to include an additional 80 drill sites. This application was submitted in November, 2021, and is progressing. Concurrent with the historical data compilation for additional targets within the 61,600-hectare property, the company earlier this month filed an additional new permit application for induced polarization geophysics and 80 additional drill sites within the historically explored southeastern corridor. Drilling from the 1970s through to the 1990s tested several IP targets, producing several significant copper intervals that were never followed up. This application was submitted earlier this month.
*CuEq — copper equivalents is based on the following: copper ($9,972.10 (U.S.) per tonne), gold ($1,816.60 (U.S.) per ounce), silver ($22.90 (U.S.) per ounce) and molybdenum ($41,836.39 (U.S.) 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 per cent 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 35 kilometres from the Huckleberry mine and 42 km 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 88 km from Houston and 400 km from the deep-water port at Prince Rupert by rail.
About Universal Copper Ltd.
Universal Copper 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 preproduction copper projects in British Columbia with a historic National Instrument 43-101 resource.
Qualified person
The technical content of this news release has been reviewed and approved by R. Tim Henneberry, PGeo (B.C.), a member of the company’s advisory board and a qualified person under National Instrument 43-101.
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https://www.universalcopper.com/