Universal Copper Ltd. (Universal Copper or the Company) has confirmed the renewal of its exploration permit for a five-year period on the Poplar Copper Project, which is situated southwest of Houston, British Columbia.
Image Credit: Universal Copper Ltd
As part of this renewal, the company has been granted an additional 80 drill sites within its existing permit area, with a specific focus on the Poplar deposit. This renewal will enable the company to advance a substantial portion of the current inferred resource to an indicated resource through infill drilling.
It also facilitates further exploration of new targets outside the boundaries of the current resource, building on the reinterpretation of the Poplar mineralization conducted by Vector Geological Solutions Inc. (Vector)
Universal Copper Ltd. has provided an update on its second exploration permit, which covers peripheral targets, including the Copper Pond located to the southeast of the Poplar deposit. The permit is currently progressing through the Notice of Work process with the British Columbia Ministry of Energy, Mines, and Low Carbon Innovation.
The company's technical team has meticulously reviewed and compiled historical geophysical, geological, geochemical, and drilling data, resulting in the identification of several high-quality drill targets.
The company expects to receive the second permit in the first quarter of 2024, allowing for the execution of a 50-line-kilometer ground-induced polarization (IP) survey and the establishment of an additional 80 drill sites.
We are delighted to have secured the 5-year renewal of the Poplar exploration permit. Vector’s thorough review and reinterpretation of the Poplar deposit database has generated several new and exciting target areas within the Poplar mineralized footprint that are ready for drill testing and we anticipate they will significantly enhance Poplar. Our confidence in the strength of copper prices, driven by market demand, further bolsters our commitment to this endeavor.
Clive Massey CEO and President, Universal Copper Ltd.