Mon, 17 Jun 2019

VANCOUVER, BC / ACCESSWIRE / June 11, 2019 / Universal Copper Ltd. ('Universal Copper' or the 'Company') (TSX Venture: UNV) (Frankfurt: 3TA1) is pleased to announce the commencement of it's 2019 exploration program at its 62,000 hectare Poplar copper property, southwest of Houston, British Columbia.

Prior to executing the 2019 drilling program, Universal is undertaking ground surveys to evaluate a number of the peripheral gold targets identified during historic exploration programs and/or by the 2018 Long Wave InfraRed Survey (See December 11, 2017 News Release). The program will consist of prospecting, mapping, soil and rock sampling concentrating in the western portion of the property where last year's forest fire should provide new outcrop exposure in a number of the target areas. The Company anticipates developing multiple drill targets as a result of this exploration program.

Universal completed a widely spaced three-hole diamond drill program late in 2018 (See January 22, 2019 News Release). Highlights from the drilling campaign include:

  • 18-PC-126 was mineralized from top of bedrock to full depth, averaging 0.365% Cu, 0.015% Mo, 0.145g/t Au and 2.31 g/t Ag over 380.97 metres. The last 30.17 metres contained the strongest mineralization: 0.554% Cu, 0.027% Mo, 0.104g/t Au and 4.44 g/t Ag; indicating the historic IP conclusion of mineralization continuing to depth appears valid.
  • 18-PC-127 was mineralized from top of bedrock to full depth, averaging 0.421% Cu, 0.013% Mo, 0.105g/t Au and 2.63 g/t Ag over 264.86 metres, including a 27 metre interval averaging 0.643% Cu, 0.030% Mo, 0.146g/t Au and 2.62 g/t Ag.
  • 18-PC-127 intersected 0.330% Cu, 0.002 % Mo, 0.118 g/t Au and 3.46 g/t Ag over 151.10 metres between 122.8 metres and 273.9 metres
  • Mineralization consists of both dissemination pyrite and chalcopyrite and stockwork vein to veinlet pyrite, chalcopyrite and molybdenite.

18-PC-126

18-PC-127

18-PC-127

ppm Cu

ppm Mo

ppm Au

ppm Ag

ppm Cu

ppm Mo

ppm Au

ppm Ag

ppm Cu

ppm Mo

ppm Au

ppm Ag

max

6960

913

0.217

35.60

9150

1200

0.304

81.50

8240

68

0.286

24.90

min

2090

30

0.048

0.50

901

1

0.027

0.43

463

2

0.027

0.74

median

3540

114

0.102

1.07

3940

93

0.094

1.79

3030

9

0.110

2.46

mean

3576

122

0.100

1.35

3865

44

0.094

1.81

3124

10

0.111

2.57

About the Poplar

The Poplar copper deposit hosts an historical indicated mineral resource of 131 million tonnes grading 0.31 per cent copper, 0.009 per cent molybdenum, 0.09 gram per tonne gold and 2.39 grams per tonne silver, and a historical inferred mineral resource of 132 million tonnes grading 0.27 per cent Cu, 0.005 per cent Mo, 0.07 g/t Au and 3.75 g/t Ag has been identified through the drilling of 147 historical holes. These historical indicated and inferred resources were disclosed by Lions Gate Metals Inc. in its technical report dated March 30, 2012, prepared by Gary Giroux, PEng.

To determine the historical resource, a 3-D solid was constructed to constrain the mineralized area, using a 0.1-per-cent-copper-grade shell as a guide. Large internal waste zones were modelled as were some larger-post-mineral dikes. Of the total database, 129 drill holes totalling 37,205 metres were within the mineralized zone and were used to estimate the resource. Drill holes were compared with the mineralized solid, and assays were tagged if inside. Copper, molybdenum, gold and silver assays within the mineralized solid were capped at 1.4 per cent Cu, 0.14 per cent Mo, 0.34 g/t Au and 41 g/t Ag, respectively. Five-metre composites were formed and used for variography.

For this estimate and to aid with some preliminary planning, the blocks were reduced to five by five by 10 metres in dimension and were estimated for Cu, Mo, Au and Ag by ordinary kriging. The historical resource is classified as indicated and inferred based on each block's proximity to data and the grade continuity. The historical indicated and historical inferred resource uses the categories set out in Section 1.2 of National Instrument 43-101.

Universal Copper will need to review and verify the historical drilling database and twin a number of the existing drill holes to make the historical resources current. Investors are cautioned a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and therefore the Company is not treating the historical estimate as current mineral resources or mineral reserves.

Qualified Person

R. Tim Henneberry, P.Geo. (BC) and Universal's geologist, is the Qualified Person who has reviewed and approved the technical content of this news release.

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.

SOURCE: Universal Copper Ltd.



View source version on accesswire.com:
https://www.accesswire.com/548337/Universal-Commences-2019-Exploration-Poplar-Copper-Property

More Philadelphia News

Access More

Sign up for Philadelphia News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!