Universal Copper Renews Exploration Permit on Poplar Project
30 Novembro 2021 - 3:00AM
Universal Copper Ltd. ("Universal Copper" or the
"Company") (TSX Venture: UNV) (Frankfurt:
3TA2) is pleased to report it has submitted an amendment
to renew its existing exploration permit for a further five years
on the Company’s flagship Poplar Copper Project
(
"Poplar"), located 88 KM southwest of Houston,
British Columbia.
The Company has applied for an additional 80
drill sites within its current permit area, the area of the Poplar
deposit itself. The new permits will allow the Company to begin
infill drilling to bring much of the current inferred mineral
resource to current indicated mineral resources as well as test the
limits of the known mineralization for expansion.
The Company is reviewing and formulating exploration plans for
the 9 high priority targets on the property with the objective of
submitting a separate permit application for exploration.
Clive Massey, Universal Copper’s CEO and
President commented, "We are very pleased with renewing the
exploration permits for another five years and look forward to
planning the 2022 exploration program. With 80 new sites
identified, we feel very strongly that we can add significantly to
the current resource base."
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, and haven’t 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.
For additional information, please visit the Company's website
at www.universalcopper.com
ON BEHALF OF THE BOARD OF
DIRECTORS
“Clive Massey”Clive H. MasseyPresident &
CEO
For further information, please
contact:Investor RelationsPhone: (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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