Universal copper intercepts 479.75m of 0.56% CuEq

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VANCOUVER, British Columbia, Jan. 18, 2022 (GLOBE NEWSWIRE) — Universal Copper Ltd. (“Universal Copper” or the “Company”) (TSX Venture: UNV) (Frankfurt: 3TA2) is pleased to report top drill results from its 2021 diamond drill program at the Company’s flagship Poplar copper deposit (“Poplar”), located southwest of Houston, British Columbia.

Strong points:

  • Hole 21-PC-133 – 479.75 meters at 0.56% copper equivalent (CuEq) – 0.408% copper, 0.013% molybdenum, 0.13 g/t gold and 2.89 g/t silver
    • including 68.25 meters at 0.655% copper, 0.016% molybdenum, 0.17 g/t gold and 2.92 g/t silver
  • Hole 21-PC-132 – 186.35 meters at 0.436% copper, 0.019% molybdenum, 0.10 g/t gold and 1.72 g/t silver

Clive Massey, CEO of Universal Copper, said, “We are very pleased with the recent drilling success at Poplar, and we look forward to further expanding our high-grade copper-gold zones in 2022. Drill hole 21 -PC-133 is particularly interesting. long intersection starting at surface with very robust grades (480 meters at 0.56% CuEq) on par with high quality exploration/development projects elsewhere in North America. Similar to recent Kodiak (MPD1) and (Hud Bay 2 ) discoveries, we are excited to construct a copper resource from surface in a project with existing power, road and rail access.

Table 1. 21-PC-132 and 21-PC-133 intersections

Hole No I just my m length g/t Au g/tAg % Cu MB ppm Cu eq.
21-PC-132 5.65 192 186.35 0.10 1.72 0.436 0.019 0.59
21-PC-133 9:25 p.m. 501 479.75 0.13 2.89 0.408 0.013 0.56
21-PC-133 247.25 315.5 68.25 0.17 2.92 0.655 0.0156 0.84

Copper equivalents based on the following: copper US$9,972.10 per tonne, gold US$1,816.60 per ounce, silver US$22.90 and molybdenum US$41,836.39 per tonne.

Due to the disseminated nature of the mineralization at the Poplar deposit, it is not possible to comment on the true width of holes 21-PC-132 and 21-PC-133.

A media clip accompanying this announcement is available by clicking on the image or link below:

https://www.universalcopper.com/images/gallery/UNV_News_41.jpg

The 2021 Poplar drill holes were all drilled vertically, designed to test continuity of copper-gold mineralization, test extensions at depth, improve understanding of mineralization geometry and fill gaps in potential mineralized volumes high content. The company plans to use the 2021 drill core material for metallurgical testwork as well as future geological/resource evaluation and testing in 2022.

A media clip accompanying this announcement is available by clicking on the image or link below:

https://www.universalcopper.com/images/gallery/UNV_News_42.jpg

The mineralization consists mainly of pyrite, chalcopyrite and molybdenite associated with strongly altered intrusive rocks. Pyrite and chalcopyrite occur as disseminations, stringers, veins and veinlets in strongly developed quartz vein stockwork and porphyry dyke domains. Molybdenite, where observed, is almost exclusively associated with quartz-sulphide veins, usually pyrite and chalcopyrite, but sphalerite was also present in several veins. Potassium alteration of varying intensity and silicification have been noted in 21-PC-133, consisting of biotite and K-feldspar, with zones of phyllic and propylitic alteration noted in the central section of the borehole. Biotite flooding was common in the upper part of the hole.

Universal plans to deploy upcoming drill campaigns in 2022 to increase the mineralized volume of the high-grade copper domains at Poplar as well as testing for 1) extensions of known mineralized zones and 2) new copper-gold zones of industrial wastelands.

Table 2. Drilling data

21-PC-132 Statistics 21-PC-133 Statistics
ppm Cu ppm Mo g/t Au g/tAg ppm Cu ppm Mo g/t Au g/tAg
Max 7750 1250 0.22 25.80 35500 608 0.85 31.00
Minimum 175 2 0.002 0.11 1420 11 0.04 0.39
Median 1910 96 0.03 0.72 3910 101 0.13 1.97
Medium 1807 73 0.03 0.71 3863 89 0.12 2.01

QA/QC

The entire length of core for 21-PC-132 and 21-PC-133 was sawn and sampled at continuous intervals of 3 meters or less, with a few samples taken at shorter or longer intervals depending on apparent contact lithology, alteration or mineralization. The program was overseen by independent geologist Ray Wladichuk, P.Geo. Half of the core was bagged, sealed and stored securely until shipment to the laboratory. The other half was kept in a secure storage location. Certified reference standards, a certified reference blank and duplicate samples were placed in the sample stream from each borehole alternately every 10and at the 18th interval. The secured and sealed samples were packed in rice bags, sealed and stored securely until handed over to the local trucking company for transport to the ALS Mineral Laboratory (“ALS”) in North Vancouver, BC. The North Vancouver laboratory is ISO/IEC 17025:2005 accredited.

All core samples were analyzed using ALS procedure MEICP-61, a four acid digestion of a one gram sample with an ICP finish. All core samples were also assayed using ALS’ Au-ICP21 procedure, a 30 gram gold fire assay with an ICP-AES finish. Limit violations were reanalyzed using ALS procedure OG-62, an ICP-AES 4 acid procedure.

In addition to Universal’s third-party standards, a routine quality assurance/quality control (QA/QC) procedure monitored analytical quality at the laboratory. Certified Reference Materials (CRMs), paste duplicates and blanks were inserted into each batch of laboratory samples. Universal and ALS Lab QA/QC data showed no discrepancies.

About poplar

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 of 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, which are not Mineral Reserves, do not have demonstrated economic viability.

Poplar is in a historic mining area, 35 km from the Huckleberry mine and 42 km from the Equity silver mine, where light snowfall will allow year-round working. The road-accessible property is bisected by a 138 Kva Hydro power line and is 88 km from Houston and 400 km from the deep water port of Prince Rupert by rail.

The references

1https://kodiakcoppercorp.com/news/news-releases/kodiak-reports-complete-drill-results-for-mpd-20-004-535.1-m-of-0.49-copper-and-0.29-gt-gold- 0.76-cueq/

2https://hudbayminerals.com/investors/press-releases/press-release-details/2021/Hudbay-Announces-Significant-New-Discovery-at-its-Copper-World-Properties-Adjacent-to-Rosemont/default. aspx

Qualified person

The technical content of this new version has been reviewed and approved by R. Tim Henneberry, P. Geo (BC), a member of the company’s advisory board and a qualified person under National Instrument 43-101.

About Universal Copper

Universal Copper Ltd. is a Canada-based copper exploration company focused on the acquisition and exploration of copper properties. The Company’s management team has many years of experience in exploration, financing and effective management of public companies. Universal is currently focused on advancing the Poplar Copper Project, one of the most advanced pre-production copper projects in British Columbia with a historic 43-101 resource.

For more information, please visit the Company’s website at www.universalcopper.com

ON BEHALF OF THE BOARD OF DIRECTORS

Clive Massy
Clive H. Massey
President and CEO

For more information, please contact:
Investor Relations
Phone: (604) 341-6870

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 release.

Forward-looking statements

This press release contains certain statements that may be considered “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”, “should”, “could”, “might” or “should” occur. Although Universal Copper Ltd. believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the management of Universal Copper Ltd. on the date on which the declarations are made. Unless required by law, Universal Copper Ltd. assumes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.

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