Universal Copper Commences Spring 2022 Drilling at Poplar Project
April 05 2022 - 6:00AM
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 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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