World Copper Ltd. (“World Copper” or the “Company“; TSXV: WCU, OTCQB: WCUFF, FSE:7LY0) announces, project updates.
Zonia
The Company announces the results of an updated mineral resource estimate (the “Updated Resource Estimate“) for the Zonia copper-oxide deposit in Arizona, USA (“Zonia” or the “Project“). The updated estimate includes 113.2 million short tons grading 0.303% total-copper in the Indicated category (686 million pounds of copper), and 59.2 million short tons grading 0.254% total-copper in the Inferred category, (300 million pounds of copper). This is a significant expansion of the 2023 resource estimate and is a result of using a higher copper price and refined mineralization models and modeling method.
CEO Gord Neal states: “This updated resource significantly increases the value of an already prominent copper asset. This new report greatly de-risks the project by expanding the indicated resource classification of the deposit. This new resource definition could significantly extend the life of mine of the project. It also has the potential to substantially increase the throughput of future operations and boost the projected annual production profile. Combined with the resource expansion potential of the Zonia North properties, the Project is now exhibiting the potential to become a large-scale copper producer”.
Highlights:
- Updated Resource Estimate with:
- Indicated Resources of 113.2 million short tons grading 0.303% total-copper containing 686 million pounds of copper; and
- Inferred Resources of 59.2 million short tons grading 0.254 % total-copper containing 300 million pounds of copper.
- A strip ratio of 3.2 waste to mineralized material at the base case cutoff mineral resource estimate. A low strip ratio of 1.1 waste:mineralized material at the economic cutoff of 0.07% TCu
- Significant expansion of the Zonia resource estimate compared to the Historical Resource Estimate.
- Pre-development revenue from re-processing of historically mined and stockpiled material expected.
The classified resources are outlined in detail in Table 1 at the base case total copper (TCu) cut-off grade of 0.18% and at a range of TCu cut-off grades in Table 2. The Updated Resource Estimate was completed by Sue Bird P.Eng., of Moose Mountain Technical Services (“MMTS“), an independent qualified person as defined by National Instrument 43-101 (“NI 43-101“) Standards of Disclosure for Mineral Projects, for World Copper as part of the Company’s overall exploration plan for Zonia (see news release dated May 22, 2022).
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