FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper”) – (TSX.V: WCU) announces the appointment of Mr. Daniel MacNeil, MSc., PGEO as Technical Geological Advisor to the Company, the first of many steps aiding in the transition of World Copper into a world-class copper company.
Mr. MacNeil is an Economic Geologist specializing in the Precious and Base Metals sectors, with over 20 years of experience from continental-scale project generation to in-mine resource expansion in a wide variety of geological settings in the Americas, Europe, Eastern Europe and the Near East. His expertise includes project evaluation, target and opportunity identification, exploration strategy, district entry strategy, business development, strategic evaluation of geologic terranes and execution of target testing. Mr. MacNeil is the Founder of Vector Geological Solutions.
Northern Targets Exploration Update
The Company also provides an exploration update in regards to the Northern Escalones porphyry copper targets (“Northern Targets”). Geochemical sampling on the three northern targets is progressing well. The large ASTER anomalies have been confirmed as intense quartz-sericite, argillic and gossanous alteration of porphyritic and granitic intrusions, as well as volcanic and sedimentary units. The first two batches of 180 samples from Rio Negro and Arguelles Este targets have been sent to ALS Global Laboratories in Coquimbo, Chile. The crew is currently finishing the Arguelles target and will then move south to the main Escalones deposit to begin sampling the Mancha Amarilla lithocap and flanking skarns.
Clockwise from top: Arguelles Este anomaly viewed to SE over argillic, pyritic and gossanous monzonite; highly fractured, gossanous outcrop near the west edge; highly-gossanous monzonite at centre of the anomaly.
Current Copper Sector Trends
Copper is the main beneficiary when economic development becomes a focal point for governments world-wide. Stimulus in the form of infrastructure investment is now starting to take a lead role, as the best way to stimulate employment is to invest in infrastructure. Due to the many changing elements taking place on the world stage, copper, a metal with fundamentals that are already in a tight supply demand imbalance, is demonstrating and increasingly larger supply gap evidenced by the rising commodity price.
Additionally, green energy investment is also taking the front seat for the USA under newly-elected President Biden. In which, the electrification of mobility and other major sources of power continue to rise in importance, which directly impacts copper demand.
Henk van Alphen, World Copper CEO stated, “According to BMO’s recent Global Metals & Mining Conference, copper is the new gold. With copper prices nearing historical highs and gold quickly unwinding in recent weeks, the interest of the conference participants has clearly shifted towards the former. Copper (along with lithium) was picked by participants as being the metal most in need of a supply response to future demand. Meanwhile, over 70% of respondents believed copper will see the strongest demand growth during the 14th Five-Year Plan period, significantly ahead of nickel. World Copper, being a pure copper go-to-play, is positioning itself to participate in this forecasted commodities Supercycle.”
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 the exploration and development of its two primary copper porphyry projects, Escalones and Cristal, both located in Chile. World Copper has laid claim to five copper porphyry targets, one with estimated resources, significant soluble copper mineralization, and exciting potential to expand the resource base.
The Escalones porphyry-skarn copper-gold project has estimated resources of 185 million tonnes of 0.33% copper (0.37% CuEq) Indicated and 254 million tonnes of 0.39% copper (0.43% CuEq) Inferred, based on nearly 25,000m of drill core from 53 holes. 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.
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.
The Company recently applied for its common shares to trade on the OTCQB® Venture Market (“OTCQB”), a US trading platform operated by the OTC Markets Group in New York. The Company will provide further information once its common shares commence trading.
On Behalf of the Board of Directors of
WORLD COPPER LTD.
“Hendrik van Alphen
Hendrik van Alphen
Chief Executive Officer
For further information, or to schedule a Zoom meeting with Management, please contact:
Henk van Alphen or Michael Pound
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.
Cautionary Note Regarding Forward-Looking Statements
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 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, including the Escalones Technical Report and the technical report on the Cristal Project, when filed.
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.