Vancouver, British Columbia, May 10, 2022 (GLOBE NEWSWIRE) -- Universal Copper Ltd. ("Universal Copper" or the "Company")(TSX Venture: UNV)(Frankfurt: 3TA2) is pleased to report it has completed the 2022 Phase I drilling program at the Company’s flagship Poplar Copper Project ("Poplar"), located southwest of Houston, British Columbia.
Apex Diamond Drilling Ltd. (“Apex”) completed 1,983 metres in five holes with all the holes being sawn in half top to bottom. Samples have been dispatched to the ALS Minerals prep lab in Kamloops for subsequent analysis at the main ALS Minerals Lab (“ALS”) in North Vancouver, an ISO/IEC 17025:2017 accredited facility.
Clive Massey Universal Copper’s CEO and President commented, "The Company is very pleased with the drill program as we focussed on a number of targets: expanding on the 0.546% copper over 129 metres discovered in the bottom of 21-PC-135, expanding the higher-grade portion of the known mineralization to the northwest and testing the first of the Vector Geological Solutions targets identified from their early 2022 targeted core logging initiative we announced on January 13.”
One of the holes was lost at 111 metres, well short of the target, resulting in a total of five holes for the program as opposed to the planned four holes. Assay results will be released once they have been received and reviewed by the Company’s technical team.
Quality Assurance/Quality Control ("QA/QC") Measures, Chain of Custody
The entire length of core for all holes was sawn and sampled at continuous three-metre or less intervals, with a few samples taken at shorter or longer intervals based on apparent lithological, alteration or mineralization contacts. The program was supervised by independent geologist Ray Wladichuk, PGeo. One half of the core for each sample interval was bagged and sealed with a zap strap, with the other half of the core retained in a secure storage location. The series of sequentially numbered samples were confirmed and placed in a sequentially number rice bag. 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 rice bags were sealed and securely stored until the entire hole was sampled. At the conclusion of sampling of each hole, the secured and sealed rice bags were turned over to the local trucking company for transport to the ALS Minerals prep lab in Kamloops, B.C. for later analysis at the ALS Mineral Laboratory in North Vancouver, B.C. The North Vancouver lab holds an ISO/IEC 17025:2005 accreditation.
All core samples will be analyzed utilizing ALS's MEICP-61 procedure, a four-acid digestion of a one-gram sample with an inductively coupled plasma finish. All core samples will also be analyzed utilizing ALS's Au-ICP21 procedure, a 30-gram gold fire assay with an ICP-AES (atomic emission spectroscopy) finish. Over limits will be reanalyzed utilizing ALS's OG-62 procedure, an ICP-AES four-acid procedure.
In addition to Universal's third party standards, a routine quality assurance/quality control (QA/QC) procedure will monitor the analytical quality at the lab. Certified reference materials (CRMs), pulp duplicates and blanks will be inserted into each lab batch of samples.
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 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.
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.
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