Toronto, Ontario--(Newsfile Corp. - July 7, 2021) - US Copper Corp (TSXV: USCU) (OTCQB: USCUF) (FSE: C730) ("US Copper" or the "Company") is pleased to announce that it is expanding the previously announced diamond drilling program at its 100% owned Moonlight-Superior Copper Project in north-east California. The revised plan is to drill 12-15 holes instead of the initially planned seven holes.
The current drill program has been progressing well, with six holes totaling 5,000 feet completed to date at the Superior deposit, one of three deposits at the Moonlight-Superior Copper Project. With the closing of the Company's $2 million financing in May, the Company has determined that it can advance its plans to upgrade the Superior deposit to the indicated category with the upsized drill program.
Stephen Dunn, President and CEO, commented: "We will take advantage of the progress of the drilling unit on site and the availability of funds to expand our 2021 in-fill drilling program at the Superior deposit. This fully-funded program will have the dual objectives of converting existing resources to higher confidence categories as well as quantifying silver and gold credits in the deposit. Silver and gold assays were incompletely assayed by the previous operator because of substantially lower prices for precious metals at that time. At today's prices, precious metal credits could be much more material to our economics than they were to previous generations."
About US Copper Corp
US Copper controls approximately 13 square miles of patented and unpatented federal mining claims in the Light's Creek Copper District in Plumas County, NE California; essentially, the entire District. The District contains substantial copper (silver) sulfide and copper oxide resources in three deposits - Moonlight, Superior and Engels, as well as several partially tested and untested exploration targets.
The Superior and Engels Mines operated from about 1915-1930 producing over 161 million pounds of copper from over 4 million tons of rock containing 2.2% copper with silver and gold credits.
The Moonlight Deposit was discovered and drilled by Placer Amex during the 1960's. Details of the resources on US Copper's property and the parameters used to calculate them can be found in the "Technical Report and Preliminary Economic Assessment for the Moonlight Deposit, Moonlight-Superior Copper Project, California, USA" dated April 12, 2018, on both the company's website at www.uscoppercorp.com or on www.sedar.com under the US Copper Corp profile.
Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release.
For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, US Copper Corp (416) 361-2827 or email info@uscoppercorp.com.
Neither the 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 press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "hopes", "anticipates", "expected to", "plans", "planned", "intends" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89636
