Highlights:
- Hole 21-PC-131 – 432.8 metres at 0.57% copper equivalent (CuEq)– 0.432% copper, 0.011% molybdenum, 0.15 g/t gold and 1.80 g/t silver
- including 76 metres at 0.68% CuEq – 0.506% copper, 0.012% molybdenum, 0.17 g/t gold and 2.74 g/t silver
- Hole 21-PC-134 – 63 metres at 0.57% CuEq – 0.468% copper, 0.002% molybdenum, 0.13 g/t gold and 2.66 g/t silver and a second interval of 81 metres at 0.41% CuEq – 0.344% copper, 0.001% molybdenum, 0.08 g/t gold and 2.35 g/t silver
Table 1. 21-PC-131 and 21-PC-134 Intersections
HOLE | FROM | TO | LENGTH | Cu | Mo | Au | Ag | CuEQ* |
ID | (m) | (m) | (m) | (%) | (%) | (g/t) | (g/t) | (%) |
21-PC-131 | 2.20 | 435.00 | 432.80 | 0.42 | 0.01 | 0.15 | 1.80 | 0.57 |
21-PC-131 | 242.00 | 318.00 | 76.00 | 0.51 | 0.01 | 0.18 | 2.74 | 0.68 |
21-PC-134 | 27.00 | 90.00 | 63.00 | 0.47 | 0.00 | 0.13 | 2.66 | 0.57 |
21-PC-134 | 225.00 | 270.00 | 45.00 | 0.39 | 0.00 | 0.10 | 3.81 | 0.49 |
21-PC-134 | 315.00 | 351.00 | 36.00 | 0.36 | 0.00 | 0.11 | 1.85 | 0.44 |
21-PC-134 | 420.00 | 501.00 | 81.00 | 0.34 | 0.00 | 0.08 | 2.35 | 0.41 |
* Copper equivalents based on the following: copper
Because of the disseminated nature of the mineralization at the Poplar Deposit, it is not possible to make a statement as to the true width for holes 21-PC-131 and 21-PC-134.
Figure 1. Dill Hole Locations
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The 2021 Poplar drill holes drilled vertically, were designed to test for continuity of copper-gold mineralization, test for extensions to depth, improve the understanding of mineralization geometry, and to infill gaps within possible high-grade mineralized volumes. The company plans to use the 2021 drill core material for metallurgical test work as well as geological/resource evaluation and testing going forward in 2022.
The Company believes the Poplar deposit is tilted westward resulting in eastward dipping mineralization (see Figures 2 and 3). The latter three holes (21-PC-134 through 21-PC-136) tested the continuation of mineralization at depth toward the east.
Figure 2. Section 5986800N
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Figure 3. Section 5986900N
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Mineralization is associated with strongly altered intrusions and consists predominantly of pyrite, chalcopyrite and molybdenite. Pyrite and chalcopyrite form disseminations, fracture fillings, stringers, veins, and veinlets in domains of strongly developed quartz vein stockworks and dikes. Traces of bornite were also noted. Molybdenite, where observed is associated with quartz-sulphide veins, typically pyrite and chalcopyrite. Potassic alteration of varying intensity and silicification is noted throughout 21-PC-131 (secondary biotite and K-feldspar). Zones of biotite flooding are present.
Universal plans to deploy upcoming drill campaigns in 2022 to increase the mineralized volume for the high-grade copper domains at Poplar as well as testing for 1) extensions to known mineralized zones, and 2) new brownfields copper-gold zones.
Data compilation and targeting work programs are underway, leveraging decades of work in the district. Universal plans to identify additional Cu-Au and polymetallic targets across the large 61,566 Ha land position.
CEO
Table 2. Drill Hole Data
21-PC-131 Statistics | 21-PC-134 Statistics | ||||||||
ppm Cu | ppm Mo | g/t Au | g/t Ag | ppm Cu | ppm Mo | g/t Au | g/t Ag | ||
Max | 18000 | 804 | 1.050 | 23.60 | 22900 | 23 | 0.57 | 20.80 | |
Min | 600 | 2 | 0.007 | 0.27 | 2 | 31 | 0.00 | 0.01 | |
Median | 3610 | 67 | 0.115 | 1.19 | 787 | 12 | 0.02 | 1.05 | |
Mean | 3306 | 51 | 0.096 | 1.33 | 571 | 12 | 0.02 | 0.96 |
QA/QC
The entire length of core for 21-PC-131 and 21-PC-134 was sawn and sampled at continuous 3 metre or less intervals, with a few samples taken at shorter or longer intervals based on apparent lithological, alteration or mineralization contact. The program was supervised by independent geologist
All core samples were analyzed utilizing ALS's MEICP-61 procedure, a four-acid digestion of a one-gram sample with an ICP finish. All core samples were also analyzed utilizing ALS’s Au-ICP21 procedure, a 30-gram gold fire assay with an ICP-AES finish. Over limits were re-analyzed utilizing ALS’s OG-62 procedure, an ICP-AES 4 acid procedure.
In addition to Universal’s third-party standards, a routine quality assurance/quality control (QA/QC) procedure monitored the analytical quality at the lab. Certified reference materials (CRMs), pulp duplicates and blanks were inserted into each lab batch of samples. The Universal and ALS Lab QA/QC data showed no irregularities.
About Poplar
The 61,566-hectare
Poplar lies in a historic mining region, located 35km from the
Qualified Person
The technical content of this New Release has been reviewed and approved by
About
For additional information, please visit the Company's website at www.universalcopper.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Clive Massey”
President & CEO
For further information, please contact:
Investor Relations
Phone: (604) 341-6870
Neither
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
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