Vancouver, British Columbia, January 25, 2022 – Universal Copper Ltd. ("Universal Copper" or the "Company") (TSX Venture: UNV) (Frankfurt: 3TA2) is pleased to announce further drill results from its 2021 diamond drilling program at the Company’s flagship Poplar Copper Deposit (“Poplar”), located southwest of Houston, British Columbia. All drill targets in the Poplar district are shallow and road accessible, within 88 km of rail infrastructure.
Highlights:
Hole 21-PC-131– 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
including 76 metres at 0.68% CuEq – 0.506% copper, 0.012% molybdenum, 0.17 g/t gold and 2.74 g/t silver
Hole 21-PC-134 – 63 metres at 0.57% CuEq – 0.468% copper, 0.002% molybdenum, 0.13 g/t gold and 2.66 g/t silver and a second interval of 81 metres at 0.41% CuEq – 0.344% copper, 0.001% molybdenum, 0.08 g/t gold and 2.35 g/t silver
Clive Massey, Universal Copper’s CEO, stated: “We are pleased by the recent drill results and ongoing success at Poplar, and we look forward to further expanding our high-grade copper-gold zones in 2022. Drill holes 131 and 134 represent superb follow-up results to the drill intercept 21-PC-133 reported earlier in January (See News Release January 18th, 2022). The geological context and three-dimensional geometry of the high-grade copper domains are coming into focus, and we look forward to establishing Poplar as one of the premier emerging copper-gold exploration districts in western North America.”
* Copper equivalents based on the following: copper US$9,972.10 per tonne, gold US$1,816.60 per ounce, silver US$22.90 and molybdenum US$41,836.39 per tonne.
Because of the disseminated nature of the mineralization at the Poplar Deposit, it is not possible to make a statement as to the true width for holes 21-PC-131 and 21-PC-134.
Figure 1. Dill Hole Locations
The 2021 Poplar drill holes drilled vertically, were designed to test for continuity of copper-gold mineralization, test for extensions to depth, improve the understanding of mineralization geometry, and to infill gaps within possible high-grade mineralized volumes. The company plans to use the 2021 drill core material for metallurgical test work as well as geological/resource evaluation and testing going forward in 2022.
The Company believes the Poplar deposit is tilted westward resulting in eastward dipping mineralization (see Figures 2 and 3). The latter three holes (21-PC-134 through 21-PC-136) tested the continuation of mineralization at depth toward the east.
Figure 2. Section 5986800N
Figure 3. Section 5986900N
Mineralization is associated with strongly altered intrusions and consists predominantly of pyrite, chalcopyrite and molybdenite. Pyrite and chalcopyrite form disseminations, fracture fillings, stringers, veins, and veinlets in domains of strongly developed quartz vein stockworks and dikes. Traces of bornite were also noted. Molybdenite, where observed is associated with quartz-sulphide veins, typically pyrite and chalcopyrite. Potassic alteration of varying intensity and silicification is noted throughout 21-PC-131 (secondary biotite and K-feldspar). Zones of biotite flooding are present.
Universal plans to deploy upcoming drill campaigns in 2022 to increase the mineralized volume for the high-grade copper domains at Poplar as well as testing for 1) extensions to known mineralized zones, and 2) new brownfields copper-gold zones.
Data compilation and targeting work programs are underway, leveraging decades of work in the district. Universal plans to identify additional Cu-Au and polymetallic targets across the large 61,566 Ha land position.
CEO Clive Massey further stated that, “The Central BC porphyry-epithermal belt has yielded significant gold and polymetallic discoveries within arms-reach of related porphyry Cu centers. In addition to several new greenfield porphyry copper targets, we are preparing for testing later this year, Universal intends to explore for structurally controlled precious metal deposits. Poplar has never been systematically targeted for high-grade deposits such as Silver Queen style high grade silver vein zones (Equity Metals), or Buck-style high grade gold breccia targets (Sun Summit Minerals Corp). Universal will leverage its deep technical expertise to unlock value in the high-grade structure target space within the large road-accessible Poplar property.”
QA/QC
The entire length of core for 21-PC-131 and 21-PC-134 was sawn and sampled at continuous 3 metre or less intervals, with a few samples taken at shorter or longer intervals based on apparent lithological, alteration or mineralization contact. The program was supervised by independent geologist Ray Wladichuk, P.Geo. Half of the core was bagged, sealed and securely stored until shipment to the laboratory. The other half was retained in a secure storage location. Certified reference standards, a certified reference blank, and sample duplicates were placed in the sample stream of each drill hole alternating at every 10th to 18th interval. The secured and sealed samples were packed into rice bags, sealed and securely stored until they were turned over to the local trucking company for transport to the ALS Mineral Laboratory ("ALS") in North Vancouver, B.C. The North Vancouver lab holds an ISO/IEC 17025:2005 accreditation.
All core samples were analyzed utilizing ALS's MEICP-61 procedure, a four-acid digestion of a one-gram sample with an ICP finish. All core samples were also analyzed utilizing ALS’s Au-ICP21 procedure, a 30-gram gold fire assay with an ICP-AES finish. Over limits were re-analyzed utilizing ALS’s OG-62 procedure, an ICP-AES 4 acid procedure.
In addition to Universal’s third-party standards, a routine quality assurance/quality control (QA/QC) procedure monitored the analytical quality at the lab. Certified reference materials (CRMs), pulp duplicates and blanks were inserted into each lab batch of samples. The Universal and ALS Lab QA/QC data showed no irregularities.
About Poplar
The 61,566-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 a 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 the rail head at 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 Relations 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.
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.