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Universal Copper Ltd. is a Canada-based copper exploration company focused on the acquisition and exploration of copper properties. Its focus is on advancing the Poplar Copper Project, which covers over 61,566 hectares, located 35 kilometers (km) from the Huckleberry Mine and 42 km from Equity Silver Mine. It hosts an undiluted indicated mineral resource of 152.3 million tons grading 0.32... see more

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Universal Copper Ltd > news ! 432.8 m of 0.57%Cu

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Post by knoxt on Jan 25, 2022 8:09am

news ! 432.8 m of 0.57%Cu

Universal Copper Intercepts 432.8 m of 0.57%CuEq From Surface at Poplar

25 Jan 202208:00 ET

GlobeNewswire

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:

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 January18<a href="https://www.globenewswire.com/Tracker?data=ft3Gtq95IoxHpEnADjTnuurtKJbtDiu8WIg-SD6kGHjHXSySNMTtx3CBz95ve7C_o5Yer6AplNsfjODHcxuOfU__7tvadkOMpeUFUGzekC2w6D4jPNZDsbK_iSE32mOiOWjzme6g9bsmwHa5kFS7BDEP_ieS7at-V8Q5l0geCv4PwxFvivUTxHUgzIT-75E7" rel="nofollow" target="_blank">, 2022</a>). 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."

Table 1. 21-PC-131 and 21-PC-134 Intersections

 HOLE FROM TO LENGTH Cu Mo Au Ag CuEQ* ID (m) (m) (m) (%) (%) (g/t) (g/t) (%) 21-PC-131 2.20 435.00 432.80 0.42 0.01 0.15 1.80 0.57 21-PC-131 242.00 318.00 76.00 0.51 0.01 0.18 2.74 0.68 21-PC-134 27.00 90.00 63.00 0.47 0.00 0.13 2.66 0.57 21-PC-134 225.00 270.00 45.00 0.39 0.00 0.10 3.81 0.49 21-PC-134 315.00 351.00 36.00 0.36 0.00 0.11 1.85 0.44 21-PC-134 420.00 501.00 81.00 0.34 0.00 0.08 2.35 0.41

* 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

https://www.universalcopper.com/images/gallery/UNV_News_54.jpg

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

https://www.universalcopper.com/images/gallery/UNV_News_55.jpg

Figure 3. Section 5986900N

https://www.universalcopper.com/images/gallery/UNV_News_56.jpg

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."

Table 2. Drill Hole Data

 21-PC-131 Statistics 21-PC-134 Statistics ppm Cu ppm Mo g/t Au g/t Ag ppm Cu ppm Mo g/t Au g/t Ag Max 18000 804 1.050 23.60 22900 23 0.57 20.80 Min 600 2 0.007 0.27 2 31 0.00 0.01 Median 3610 67 0.115 1.19 787 12 0.02 1.05 Mean 3306 51 0.096 1.33 571 12 0.02 0.96

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 10 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.