FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company“; TSXV: WCU, OTCQB: WCUFF) announces that pursuant to World Copper Ltd.’s news releases dated Sept. 7, 2021, Sept. 30, 2021, Oct. 6, 2021, and Oct. 20, 2021, the company has closed the third and final tranche of the placement. On Oct. 28, 2021, the company issued an additional 10,468,921 units for gross proceeds of $4,187,568.50. The company has issued an aggregate of 16,223,921 units for aggregate gross proceeds of $6,489,568.50 as part of the placement.
Each unit consisted of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional share of the company for a period of two years from the date of issuance at a price of 60 cents. The expiry of the warrants may be accelerated if the closing price of the company’s common shares on the TSX Venture Exchange is equal to or greater than $1 for a minimum of 20 consecutive trading days and a notice of acceleration is provided, in accordance with the terms of the warrants.
Pursuant to the final tranche closing, additional finders’ fees were paid to Canaccord Genuity Corp. ($19,600 and 49,000 warrants), Richardson Wealth ($10,500 and 26,250 warrants), Red Cloud Securities Inc. ($70,000 and 175,000 warrants), Research Capital Corp. ($10,500 and 26,250 warrants) and MJP Justus Inc. ($5,600 and 14,000 warrants). All warrants issued pursuant to the finders’ fees are non-transferable.
All securities issued in the offering have a four-month hold period, during which time the securities may not be traded. The closing of the offering is subject to the approval of the TSX-V.
The net proceeds from the offering are intended for exploration at the Escalones and Cristal properties in Chile and for general working capital.
ABOUT WORLD COPPER LTD.
World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused the exploration and development of its copper porphyry projects: Escalones and Cristal in Chile, and Zonia in Arizona. Two of these projects have estimated resources with significant soluble copper mineralization, and there are at least two other copper porphyry targets with exciting potential to expand the resource base. The Zonia project is being acquired as part of the previously announced merger transaction with Cardero Resource Corp. Please refer to news releases dated June 9th, 2021 and April 20th, 2021 for more details and for the current status of the transaction.
About Escalones
The Escalones porphyry-skarn copper-gold project has estimated inferred resources of 426 million tonnes of 0.367% total copper within the oxidized zone, based on nearly 25,000m of drill core from 53 holes. The 3.45 billion pounds of copper should be amenable to heap leaching with an average recovery of 71%. The Company is focused on exploring the Mancha Amarilla target immediately to the south of the existing resource. In addition, three significant hydrothermal alteration zones, each measuring between 2,000m and 3,000m in diameter, lie 8-10km to the north of the main discovery.
Mineral resources are not mineral reserves and do not have demonstrated economic viability as there is no certainty that all or any part of the resources will be converted into reserves. Inferred resources are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. It is reasonably expected that the inferred resources could be upgraded to indicated resources with continued exploration.
About Zonia
The Zonia project is in Yavapai County, Arizona, and consists of 261 mineral claims and additional surface rights, all totaling 4,279.55 acres. It is a near-surface, copper-oxide resource and a brownfields site having already been mined in the late 1960s and ’70s. The Project is at the PEA level and has been significantly de-risked with over 50,000 metres of drilling completed to date and with substantial amounts of detailed engineering completed. Further details can be found here.
The World Copper team has a unique skill in navigating the mining sector within Chile, with some members having worked in the country for more than 40 years and with discovery success.
On Behalf of the Board of Directors of
WORLD COPPER LTD.
“Nolan Peterson”
Nolan Peterson Chief Executive Officer
For further information, or to schedule a Zoom meeting with Management, please contact:
FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company“; TSXV: WCU, OTCQB: WCUFF) announces that its common shares are now eligible for book-entry and depository services of the Depository Trust Company (“DTC”), to facilitate electronic clearing and settlement of transfers in the United States. World Copper currently trades on the OTCQB under the ticker symbol WCUFF.
DTC is a subsidiary of The Depository Trust & Clearing Corp. which manages the electronic clearing and settlement of publicly traded companies in the United States. Securities that are eligible to be electronically cleared and settled through DTC are considered DTC eligible. This electronic method of clearing securities accelerates the settlement process for investors and brokers, enabling a security to be traded over a much wider selection of brokerage firms.
World Copper CEO, Nolan Peterson, stated, “Receiving the DTC eligibility for World Copper is an excellent step forward and will now allow the Company to facilitate the trading, and efficient electronic transfer, of our common shares for U.S. investors and brokerage firms. This not only allows for faster execution of trades and improved liquidity of our common shares, but will also help to broaden our US investors base.”
ABOUT WORLD COPPER LTD.
World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused the exploration and development of its copper porphyry projects: Escalones and Cristal in Chile, and Zonia in Arizona. Two of these projects have estimated resources with significant soluble copper mineralization, and there are at least two other copper porphyry targets with exciting potential to expand the resource base. The Zonia project is being acquired as part of the previously announced merger transaction with Cardero Resource Corp. Please refer to news releases dated June 9th, 2021 and April 20th, 2021 for more details and for the current status of the transaction.
About Escalones
The Escalones porphyry-skarn copper-gold project has estimated inferred resources of 426 million tonnes of 0.367% total copper within the oxidized zone, based on nearly 25,000m of drill core from 53 holes. The 3.45 billion pounds of copper should be amenable to heap leaching with an average recovery of 71%. The Company is focused on exploring the Mancha Amarilla target immediately to the south of the existing resource. In addition, three significant hydrothermal alteration zones, each measuring between 2,000m and 3,000m in diameter, lie 8-10km to the north of the main discovery.
Mineral resources are not mineral reserves and do not have demonstrated economic viability as there is no certainty that all or any part of the resources will be converted into reserves. Inferred resources are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. It is reasonably expected that the inferred resources could be upgraded to indicated resources with continued exploration.
About Zonia
The Zonia project is in Yavapai County, Arizona, and consists of 261 mineral claims and additional surface rights, all totaling 4,279.55 acres. It is a near-surface, copper-oxide resource and a brownfields site having already been mined in the late 1960s and ’70s. The Project is at the PEA level and has been significantly de-risked with over 50,000 metres of drilling completed to date and with substantial amounts of detailed engineering completed. Further details can be found here.
The World Copper team has a unique skill in navigating the mining sector within Chile, with some members having worked in the country for more than 40 years and with discovery success.
On Behalf of the Board of Directors of
WORLD COPPER LTD.
“Nolan Peterson”
Nolan Peterson Chief Executive Officer
For further information, or to schedule a Zoom meeting with Management, please contact:
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the Company’s expectation that it and Cardero will be able to complete the Proposed Transaction, including entering into a Definitive Agreement, the closing and amount of the Private Placement, that Zonia can beadvanced utilizing low-cost open pit mining and heap leach, the results of the PEA, including, without limitation the NPV6%, IRR, estimated costs, average rate of production, the anticipated exploration program results from exploration activities and the anticipated business plans and timing of future activities of the Company, including the timing for the closing of the Proposed Transaction, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that it will be able to negotiate and enter into a Definitive Agreement, and that it will obtain TSXV acceptance and the required corporate approvals of the Proposed Transaction and the Consolidation, that there will be investor interest in the Private Placement, market fundamentals will result in sustained copper and precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company’s projects in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of such projects and the ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, requirements for additional capital, actual results of exploration activities, including on the Escalones Project and the Cristal Project, the reasonability of the economic assumptions at the basis of the results of the PEA for the Zonia Project, the estimation or realization of mineral reserves and mineral resources, future prices of copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in the Private Placement, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals (including acceptance of the Proposed Transaction, the Private Placement and the Consolidation by the TSXV), permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID‑19, including the impact of COVID‑19 on the Company’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the timing and possible outcome of any pending litigation, environmental issues and liabilities, as well as the risk factors described in the Company’s annual and quarterly management’s discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company’s profile at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company“; TSXV: WCU, OTCQB: WCUFF) is pleased to announce that further to its news release dated August 23, 2021, World Copper has filed on SEDAR a National Instrument 43-101 Technical Report (“NI 43-101“) for an updated mineral resource estimate for its Escalones copper project in Chile.
The NI 43-101 technical report is entitled “Mineral Resource Estimate for the Escalones Copper Project Santiago Metropolitan Region, Chile” (the “Technical Report“) and is dated October 6, 2021 and dated effective August 15, 2021. The Technical Report was prepared pursuant to NI 43-101 by Hard Rock Consulting, LLC. The Technical Report is available on World Copper’s SEDAR profile at www.sedar.com and is available on World Copper’s website at www.worldcopperltd.com.
ABOUT WORLD COPPER LTD.
World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the exploration and development of its two primary copper porphyry projects, Escalones and Cristal, both located in Chile. World Copper has laid claim to four copper porphyry targets, one with estimated resources, significant soluble copper mineralization, and exciting potential to expand the resource base.
The World Copper team has a unique skill in navigating the mining sector within Chile, with some members having worked in the country for more than 40 years and with discovery success.
Detailed information is available at World Copper’s website at www.worldcopperltd.com, and for general Company updates you may follow us on our social media pages via Facebook, Twitter & LinkedIn.
For further details on World Copper readers are referred to World Copper’s website. To view World Copper’s Canadian regulatory filings, please visit SEDAR.
On Behalf of the Board of Directors of WORLD COPPER LTD.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein are forward-looking statements. Although World Copper believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of World Copper to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of World Copper, the ability of World Copper to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the TSX Venture Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, currency fluctuations, title disputes or claims, environmental issues and liabilities, risks relating to epidemics or pandemics such as COVID–19, including the impact of COVID–19 on World Copper’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of World Copper to obtain any necessary permits, consents, approvals or authorizations, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in World Copper’s continuous disclosure documents. All of World Copper’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.
Readers are cautioned not to place undue reliance on forward-looking statements. World Copper does not undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**
FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company“; TSXV: WCU, OTCQB: WCUFF) reports that, pursuant to their news releases dated September 7, 2021 and September 30, 2021, the Company has closed a second tranche of the Placement. On October 6, 2021 the Company issued 4,157,500 Units for gross proceeds of $1,663,000.00. Each unit consists of one common share (a “Share”) and one-half of one common share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder to acquire one additional share of the Company for a period of two years from the date of issuance at a price of $0.60 per share. The expiry of the Warrants may be accelerated if the closing price of the Company’s common shares on the TSX Venture Exchange (“TSXV”) is equal to or greater than $1.00 for a minimum of twenty consecutive trading days and a notice of acceleration is provided in accordance with the terms of the Warrants.
Finder’s fees were paid to Canaccord Genuity Corp. ($12,880.00 and 32,200 warrants), PI Financial Corp. ($2,800.00 and 7,000 warrants), Richardson Wealth ($74,480.00 and 186,200 warrants), Red Cloud Securities Inc. ($1,050.00 and 2,625 warrants), Cormark Securities Inc. ($14,000.00 and 35,000 warrants) and, MJP Justus Inc. ($11,200.00 and 28,000 warrants). Warrants issued pursuant to finder’s fees are non-transferable.
All securities issued in the Offering have a four-month hold period, during which time the securities may not be traded. Closing of the Offering is subject to the approval of the TSXV.
The net proceeds from the Offering are intended for exploration of the Escalones and Cristal properties in Chile and, general working capital.
This press release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT WORLD COPPER LTD.
World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused the exploration and development of its copper porphyry projects: Escalones and Cristal in Chile, and Zonia in Arizona. Two of these projects have estimated resources with significant soluble copper mineralization, and there are at least two other copper porphyry targets with exciting potential to expand the resource base. The Zonia project is being acquired as part of the previously announced merger transaction with Cardero Resource Corp. Please refer to news releases dated June 9th, 2021 and April 20th, 2021 for more details and for the current status of the transaction.
About Escalones
The Escalones porphyry-skarn copper-gold project has estimated inferred resources of 426 million tonnes of 0.367% total copper within the oxidized zone, based on nearly 25,000m of drill core from 53 holes. The 3.45 billion pounds of copper should be amenable to heap leaching with an average recovery of 71%. The Company is focused on exploring the Mancha Amarilla target immediately to the south of the existing resource. In addition, three significant hydrothermal alteration zones, each measuring between 2,000m and 3,000m in diameter, lie 8-10km to the north of the main discovery.
Mineral resources are not mineral reserves and do not have demonstrated economic viability as there is no certainty that all or any part of the resources will be converted into reserves. Inferred resources are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. It is reasonably expected that the inferred resources could be upgraded to indicated resources with continued exploration.
About Zonia
The Zonia project is in Yavapai County, Arizona, and consists of 261 mineral claims and additional surface rights, all totaling 4,279.55 acres. It is a near-surface, copper-oxide resource and a brownfields site having already been mined in the late 1960s and ’70s. The Project is at the PEA level and has been significantly de-risked with over 50,000 metres of drilling completed to date and with substantial amounts of detailed engineering completed. Further details can be found here.
The World Copper team has a unique skill in navigating the mining sector within Chile, with some members having worked in the country for more than 40 years and with discovery success.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the Company’s expectation that it and Cardero will be able to complete the Proposed Transaction, including entering into a Definitive Agreement, the closing and amount of the Private Placement, that Zonia can beadvanced utilizing low-cost open pit mining and heap leach, the results of the PEA, including, without limitation the NPV6%, IRR, estimated costs, average rate of production, the anticipated exploration program results from exploration activities and the anticipated business plans and timing of future activities of the Company, including the timing for the closing of the Proposed Transaction, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that it will be able to negotiate and enter into a Definitive Agreement, and that it will obtain TSXV acceptance and the required corporate approvals of the Proposed Transaction and the Consolidation, that there will be investor interest in the Private Placement, market fundamentals will result in sustained copper and precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company’s projects in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of such projects and the ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, requirements for additional capital, actual results of exploration activities, including on the Escalones Project and the Cristal Project, the reasonability of the economic assumptions at the basis of the results of the PEA for the Zonia Project, the estimation or realization of mineral reserves and mineral resources, future prices of copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in the Private Placement, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals (including acceptance of the Proposed Transaction, the Private Placement and the Consolidation by the TSXV), permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID‑19, including the impact of COVID‑19 on the Company’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the timing and possible outcome of any pending litigation, environmental issues and liabilities, as well as the risk factors described in the Company’s annual and quarterly management’s discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company’s profile at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company“; TSXV: WCU, OTCQB: WCUFF) announces exploration results from the northern targets at the Escalones Copper project (“Escalones” or the “Escalones Project”). Over a one-month period in the first half of 2021, World Copper collected 440 samples from three targets north of the main deposit at Escalones as part of a rock sampling and mapping program, and the results outline two significant porphyry copper targets.
Key Points
– Surface sampling programme confirms two copper-porphyry targets and one skarn target to the northeast of the main Escalones deposit
– The Rio Negro target produced five samples grading over 1% Cu and multiple samples returning over 0.5% Cu. It is considered a priority porphyry copper target for future drill programmes.
CEO Nolan Peterson commented, “The results from our surface sampling program, carried out earlier this year at Escalones, confirm that Escalones has the potential for multiple significant copper porphyry deposits in addition to the main resource. Data from the sampling program will be used in the near future to plan out the next phases of our exploration at Escalones on the Mancha Amarilla and Northern Targets.”
The Northern Escalones Targets
Geochemical sampling and mapping has now been completed by World Copper on a cluster of three distal copper targets (the “Northern Targets”), located eight to ten kilometres north of the main Escalones deposit and within the 162 km2 Escalones land package. Field work at the Northern Targets confirmed the large anomalies are intense quartz-sericite, argillic and gossanous alteration of porphyritic and granitic intrusions, as well as skarn in volcanic and sedimentary units (Figure 1). The Northern Targets have significant potential, with surface alteration zones on the same scale as that of the main Escalones deposit. Ridge and spur character rock sampling at an average spacing of 200m has defined two porphyry centres that are now considered drill targets. Rio Negro is the primary target, with excellent copper mineralization at surface and will be the priority for further exploration. The eastern target, Argüelles Este, is larger and more deeply weathered, and more sampling will be carried out to determine its potential. Sampling of the third target, Argüelles, was limited, and further work programmes by the Company are expected to follow up on this work.
Rio Negro Target
The Rio Negro target is a 2x2km argillic and quartz-sericite alteration zone within dacite/monzonite porphyries intruding clastic sedimentary rocks. Copper oxide mineralization is most apparent in the centre of the alteration where multiple samples returned over 5000 ppm (0.5%) copper, with five samples returning over 1% copper (Figures 2 and 3). This central area covers an area 800x1000m and will be a focus of more detailed geochemical sampling and mapping this field season.
Argüelles Este Target
The Argüelles Este target is a very large argillic and gossanous alteration zone two kilometres southeast of Rio Negro. The geochemical anomaly generated by the sampling is roughly three kilometres in diameter. Sporadic anomalous copper and molybdenum occurs along the western third of the anomaly, where sandstone and interbedded gypsum horizons are intruded by coarse feldspar-porphyry dikes similar to those as the main Escalones deposit. Associated anomalous metals suggest a higher level of erosion in a more deeply weathered system compared with Rio Negro, so more of the lithocap is preserved. A large (one kilometre) central area of the anomaly remains to be sampled and mapped.
Argüelles Target
Extensive skarn and calc-silicate alteration form a rugged, high ridge almost three kilometres long at the Argüelles target. Sampling was restricted to the accessible bases of the ridge, where a few samples on the west side returned values >1000 ppm Cu with anomalous Mo and Ag. The focus at the Argüelles target is narrow, high-grade mineralization, and this target will require more detailed sampling to determine the significance of the results.
Sampling and Assay Procedures; Quality Control and Quality Assurance
Character rock chips were collected within a 4m diameter circle every 200m along a traverse, mostly along ridges and spurs when topography allowed, mostly from outcrop but in places from talus beneath inaccessible outcrops. For quality assurance and control, field blanks were inserted every 20 samples and field duplicates (resampling at the same location) taken every 20 samples. The 4m character sample field duplicates have a precision of ±44%. Two georeferenced photos of each sample were taken and used to verify to the extent possible the assay results, sample locations and general geology.
Sample bags were stored in rice sacks, secured with zip ties, and delivered to ALS Patagonia S.A. in Santiago, Chile. Multi-elements were assayed using the ME-MS61 package, which includes 4-acid digestion and ICP-MS finish; samples with >10,000ppm copper were re-assayed using method ME-OG62 with an ICP-AES finish. Gold was done by method Au-ICP21, in which a 30g sample is fire-assayed and finished with ICP-AES.
Readers are cautioned that surface sampling results reported here should be viewed primarily as a guidance for future exploration drilling. Surface sampling is prone to sampling bias and is not necessarily a reliable indicator of mineralization at depth.
Figure 1: Gridded 4m character rock sampling results over the northern targets. Typical porphyry deposits have elevated Au-Mo and depressed Zn-Mn over 1km in width.
Figure 2: Clockwise from top: view to the west over the Rio Negro target, Rio Negro sample running 1.34% Cu as chrysocolla and tenorite, Rio Negro copper oxide mineralization in dacite with quartz vein stockwork.
Figure 3: Thematic Cu map of 4m character rock samples, Rio Negro. The same anomalous samples have elevated Mo-Au, and depressed Zn-Mn, indicating porphyry-style mineralization.
Qualified Person
John Drobe, P.Geo., a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Drobe is not independent of the Company as he is a consultant of World Copper.
ABOUT WORLD COPPER LTD.
World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the exploration and development of its two primary copper porphyry projects, Escalones and Cristal, both located in Chile. World Copper has laid claim to four copper porphyry targets, one with estimated resources, significant soluble copper mineralization, and exciting potential to expand the resource base.
The World Copper team has a unique skill in navigating the mining sector within Chile, with some members having worked in the country for more than 40 years and with discovery success.
Detailed information is available at the Company’s website at www.worldcopperltd.com, and for general Company updates you may follow us on our social media pages via Facebook, Twitter & LinkedIn.
For further details on the Company readers are referred to the Company’s website. To view the Company’s Canadian regulatory filings, please visit SEDAR.
On Behalf of the Board of Directors of WORLD COPPER LTD.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to future work programmes involving the Northern Targets, anticipated exploration program results from exploration activities, the discovery and delineation of mineral deposits/resources/reserves and the anticipated business plans and timing of future activities of World Copper are forward-looking statements. Although World Copper believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, World Copper has applied several material assumptions, including without limitation,, market fundamentals will result in sustained copper demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of World Copper’s Chilean projects in a timely manner, including the Escalones Project and the Cristal project, the availability of financing on suitable terms for the development, construction and continued operation of World Copper’s projects and its ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of World Copper to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, including on the Escalones Project and the Cristal project, the estimation or realization of mineral reserves and mineral resources, the fact that World Copper’s interests in the Cristal project and the Escalones exploitation concessions are options only and there is no guarantee that such interests, if earned, will be certain, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID–19, including the impact of COVID–19 on World Copper’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of World Copper to obtain any necessary permits, consents, approvals or authorizations, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in World Copper’s continuous disclosure documents. All of World Copper’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.
Readers are cautioned not to place undue reliance on forward-looking statements. World Copper does not undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
