{kanada_flagge}Universal Copper Ltd. (TSXV: UNV; FRA: 3TA2) reports further positive results at its Poplar copper-gold project southwest of Houston, British Columbia, improving the basic understanding of the structural controls on the distortion at the project. In particular, recent evaluation of the latest drilling from last year provided confirmation of a higher-grade vein dipping to depth in drill hole 21-PC-135.
The drill hole returned 492.7 meters of 0.37% copper equivalent (CuEq) – 0.288% copper, 0.09 g/t gold and 4.16 g/t silver including 78 meters of 0.55% CuEq – 0.391% copper, 0.13 g/t gold and 12.01 g/t silver and including the lower 129 meters of 0.685% CuEq – 0.546% copper, 0.15 g/t gold and 6.94 g/t silver. Drill hole 21-PC-136 45 meters returned 0.56% CuEq – 0.430% copper, 0.17 g/t gold and 3.81 g/t silver and a second intercept of 24 meters of 0.68% CuEq – 0.514% copper, 0.19 g/t gold and 6.86 g/t silver. The above holes were drilled in the Poplar East zone and confirmed the Company’s new interpretation that copper mineralization dips from east to northeast.
Clive Massey, Universal Copper’s CEO, stated, “An open, high-grade copper intercept in the lower 129 meters of hole 135 supports our new interpretation that the system is tilted and the high-grade zone dips eastward. Today’s results, along with recent robust copper grades released on January 18, 2022 and January 25, 2022, represent significant positive progress for the Poplar Project. Universal Copper is focused on leveraging our new exploration model and developing the Poplar Project into a world-class deposit in a metal-rich, road and rail accessible, emerging exploration area in a world-class jurisdiction.
Figure 1. drill hole locations.
Experts at Unviversal interpret the results to mean that faults play a key role in the Poplar deposit. The discovery of this structural framework suggests that there is significant potential for expansion of both the mineralized footprint and higher grade mineralization within the footprint. The next phase of the drill program will focus on testing these concepts from the exploration targets.
The 2021 Poplar holes were drilled vertically to test the continuity and grade of the copper-gold mineralization, test extensions at depth, improve understanding of mineralization geometry and fill gaps within the potential high-grade mineralization zones.
There are a significant number of post-mineralized veins in the East Zone, as seen in 21-PC-135, but particularly in 21-PC-136, where approximately 35% of the hole intersected late veins of varying thickness and composition. However, few late veins were encountered in the important deep part of 21-PC-135, where the drill hole intersected a long open section with significant copper mineralization at the bottom of the hole.
The 61,566 hectare Poplar Project hosts a current undiluted Indicated Mineral Resource of 152.3 million tonnes grading 0.32% copper, 0.009% molybdenum, 0.09 grams per tonne gold and 2.58 g/t silver and an undiluted Inferred Mineral Resource of 139.3 million tonnes grading 0.29% copper, 0.005% 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 that mineral resources that are not mineral reserves have no proven economic viability.
Poplar is located in a historic mining region, 35 km from the Huckleberry Mine and 42 km from the Equity Silver Mine, where low snowfall allows year-round operations. The property, accessible by road, is crossed by a 138 Kva hydroelectric transmission line and is 88 km from the Houston rail hub and 400 km from the deepwater port of Prince Rupert.
Conclusion: Following the well-known soccer wisdom of Sepp Herberger, one is inclined to say: After the exploration is before the exploration. More important to Universal than the good individual results is the new basic understanding of the controlling structures. This will allow much more precision in the upcoming drill holes with correspondingly improved prospects for success. The Poplar project is more of a “low hanging fruit” on a global scale. Poplar’s main asset is the good infrastructure around it, which makes up for the rather unspectacular average grades. The high copper equivalent values of the latest drill holes are all the more welcome now, because they tend to lift the average. In the end, the product of location times resource quality/quantity is decisive for the success of the project.
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