universal completes first drill hole at poplar copper property
Vancouver, British Columbia, September 4, 2019 - Universal Copper Ltd. ("Universal Copper" or the "Company") (TSX Venture: UNV) (Frankfurt: 3TA1) is pleased to report the completion of the first diamond drill hole (“19-PC-129”) on its 62,000 hectare Poplar Copper Property, southwest of Houston, British Columbia.
The purpose of 19-PC-129 was to expand the known copper deposit to depth with a 511 metres (m) vertical hole. Disseminated chalcopyrite was noted from 160 metres to the end of the hole with several sections of stronger mineralization. Molybdenite was concentrated in the quartz veins and quartz stockworks. Additional holes are in the planning stages.
Quality Assurance/Quality Control ("QA/QC") Measures, Chain of Custody
The Company has implemented a QA/QC program using best industry practices at the Poplar Copper Property. Drill core samples are was sawn in half for the entire length of the hole and sampled in intervals of 3 metres, unless lithology, alteration or mineralization dictated shorter sample intervals. Prior to transport, individual samples are securely labeled, placed in plastic sample bags, sealed and stored. Groups of samples are then placed into durable rice bags that are then delivered to the local trucking company for transport to the ALS Global ("ALS") geochemistry prep lab in Terrace, British Columbia. All samples will be analyzed for Cu and 50 other elements by ALS method ME-MS61 48 element four acid ICP-MS with Au-ICP21 for Au. In the case of Cu determined by this method to be in excess of 100 ppm, a further analysis for Cu was done utilizing method “Ore Grade Aqua Regia ICP-AES” with ALS code ME-ICP41a.
Analysis of 19-PC-129 will be news released once the Company has received and reviewed the assay results to compare the historic IP conclusion of mineralization continuing to depth is valid.
Clive Massey, Universal Copper’s CEO, stated: “We are very pleased to see excellent copper mineralization throughout the drill hole and eagerly await the assay results. We continue to push toward an expansion of the historic resource and a new current mineral resource.”
About the Poplar Copper Property
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-postmineral 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 will need to review and verify the historical drilling database and twin a number of the existing drill holes to bring 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 Universal 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.