Copper Quest Exploration Inc C.CQX

Market optimism grows despite supply challenges persisting

[MarketMakerss]

Copper prices have reached a three-month high as supply challenges persist and market optimism grows, driven by the anticipation of heightened demand due to global electrification. Forecasts predict annual copper demand to reach 36.6 million tons by 2031, amplifying the urgency for this essential metal.

However, this surge in demand will create a supply gap of approximately 6.5 million tons at the current production rate, underscoring the need for increased copper output (Source: https://www.mining.com/web/copper-price-set-for-monthly-gain-as-optimism-returns-on-china-demand/)

Amidst the race to accelerate production, Interra Copper (IMCX.c IMIMF) shines as a compelling contender in the copper market with the completion of Phase 1 drilling at its Tres Marias Copper Project marking a significant milestone.

Situated within the prolific Chilean Copper Belt, which contributes 28% of the world's annual copper production, IMCX's project spans an extensive 16,000 hectares. Notably, it is strategically positioned in close proximity to major mining players such as BHP Billiton (BHP), Antofagasta Minerals (ANTO), Glencore (GLEN), and Freeport-McMoRan (FCX).

The Phase 1 drilling effort encompasses six Reverse Circulation (RC) holes, totalling 1,896 meters, with samples expedited for analysis by ALS Global. The eagerly awaited findings, expected this month, promise to unveil crucial insights into the project's resource potential.

Given the pivotal role of copper in global decarbonization initiatives, the pressing need for diversified copper sources in the supply chain elevates IMCX's prominence as an exceptional opportunity in the industry.

For further details on the drill program, refer to IMCX's latest news release: https://www.newsfilecorp.com/release/173054

Posted on behalf of Interra Copper Corp