Majuba Hill Copper Corp. Outlines Exploration Target of 50 to 100 million tonnes at Majuba Porphyry in Nevada
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*Press Release June 23, 2023
Majuba Hill Copper Corp. Outlines
Exploration Target of 50 to 100 million
tonnes at Majuba Porphyry in Nevada
VANCOUVER, BC — June 23, 2023 — Majuba Hill Copper Corp. (CSE: JUBA /
OTC: JUBAF / FWB:4NP) (“Majuba Hill Copper” or the “Company”) is pleased
to announce the completion of a National Instrument 43-101 Standards of Disclosure
for Mineral Projects ("NI43-101") technical report dated June 20 , 2023 with an
effective date of March 14, 2023 and entitled "Technical Report for the Majuba Hill
Copper Project, Pershing County, Nevada, USA ("Technical Report") regarding the
Company’s flagship Copper Porphyry Project.
The Technical Report was authored by Jeffrey M. Bickel , C.P.G., Senior Geologist,
RESPEC Company LLC (“RESPEC”), Reno, NV . The Technical Report provides a
technical summary and evaluates a conceptual Exploration Target for the copper
mineralization at Maju ba Hill . A copy of the Technical Report is available on the
Company's SEDAR issuer profile at www.sedar.com.
The Technical Report outlines a copper deposit with robust mineralization and
geologic characteristics. The following table shows the tonnage and grade ranges for
the Exploration Target.
Model (1)
Tonnage Range
Tonnes
(Bickel, 2023)
Grade Range Copper
(%)
(Bickel, 2023)
Copper Range
(pounds)
Calculated
Exploration Target - All 50,000,000 to 100,000,000 0.15% to 0.30% 165,000,000 to
660,000,000
Exploration Target - High
Grade 10,000,000 to 20,000,000 0.40% to 0.80%
88,185,000
to
352,739,000
(1) Conceptual open-pit scenarios for the mineralized material do not meet the test for “reasonable prospects for eventual economic
extraction” with currently appropriate economic inputs, Canadian Institute of Mining, Metallurgy, and Petroleum (2014)
RESPEC reported on a series of conceptual open-pit scenarios, which under current
copper prices do not meet the test for “reasonable prospects for eventual economic
extraction”. They concluded that Majuba Hill has a significant footprint of known
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mineralization which has not been fully tested . Drilling in 2023 will concentrate
around the conceptual pits to expand the Exploration Target mineralization into an
inferred and indicated resource category.
Frank Port, CEO of Bridgeport Capital Inc. commented on NorthernMiner.Com, “The
short list for targets looks like Taseko Mines and Centerra Gold,” he said. “Mergers
will move into fifth gear by this year -end and 2024 -25 will be a frenzy as the
realization sets in there is a major shortage of copper. The world as we know it is
about to get very expensive.”
Drilling by the Company during the past three years has provided a number of good
holes with solid results, including intervals of greater than 1% copper starting from
the surface.
David Greenway, CEO stated, “I am excited that we now have conceptual pits that
can be advanced towards development. Having such a large Exploration Target with
the added potential of 10 million tonnes to 20 million tonnes of material high grade
copper is tremendous for the future of the company. This puts the Majuba Hill Copper
Corp. in a rare position for a company of our size. The Exploration Corridor outlines
what we believe will ultimately contain over 1 billion tonnes of copper mineralization.”
Hole From
(meters)
To
(meters)
Interval
(meters)
From
(ft) To (ft) Length
(ft)
Copper
(%)
MHB-2 0.0 44.5 44.5 0 146 146.0 1.41%
MHB-3 129.5 176.8 47.2 425 580 155.0 0.68%
MHB-6 125.0 144.8 19.8 410 475 65.0 0.15%
228.6 243.8 15.2 750 800 50.0 0.72%
inc 237.7 243.8 6.1 780 800 20.0 1.31%
MHB-21 295.7 390.1 94.5 970 1280 310.0 0.27%
MHB-27 301.8 435.6 133.8 990 1429 439.0 0.28%
MHB-28 99.1 246.9 147.8 325 810 485.0 0.19%
inc 236.2 243.8 7.6 775 800 25.0 1.55%
473.0 489.8 16.8 1552 1607 55.0 0.10%
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Qualified Person
The scientific and technical information contained in this news release has been
reviewed by E.L. "Buster" Hunsaker III, CPG 8137, a non -independent consulting
geologist who is a "Qualified Person" as such term is defined under National
Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43- 101").
About RESPEC Company LLC
RESPEC Company LLC is a prominent and innovative consulting firm that offers a
wide range of engineering, scientific, and technical services to clients across various
industries. Established in 1969, RESPEC has grown to become a trusted partner for
numerous organizations seeking specialized expertise and solutions. RESPEC
specializes in geological modeling, mi ne planning, and environmental impact
assessments, helping clients optimize operations and ensure sustainable practices.
They also offer cutting-edge technology solutions for resource estimation and mine
optimization. With a strong track record of success, RESPEC continues to push the
boundaries of engineering and consulting, contributing to the advancement of
industries worldwide.
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About Majuba Hill Copper Corp.
Majuba Hill Copper Corp. is engaged in the identification, review and acquisition of
latter stage copper and copper/ silver/gold assets. This is in direct response to the
growing worldwide demand and lack of supply for precious metals fueled by the Green
New Deal in the US and most other developed nations with similar programs aimed
at addressing climate change. Such programs are heavily reliant on silver, gold and
especially copper to produce Electric Vehicles and other renewable power sources, as
well as building infrastructure to provide clean and affordable electricity.
The flagship project is the Majuba Hill copper , silver and gold District located 156
miles outside Reno, Nevada, USA. Management has been mandated to focus on safe,
mining friendly jurisdictions where government regulations are supportive of mining
operations.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in
the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or
accuracy of this release.
On Behalf of the Board of Majuba Hill Copper Corp.
“David Greenway”
David C. Greenway
President & CEO
For further information, please contact:
Joel Warawa
VP of Corporate Communications
P: 1 (855) 475-0745
Forward-Looking Statements
This news release contains certain statements that may be deemed "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", "anticipat es", "believes", "intends", "estimates", "projects", "potential" and similar expressions,
or that events or conditions "will", "would", "may", "could" or "should" occur. Although Majuba Hill Copper Corp.
believes the expectations expressed in such forward -looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results may differ materially from those in forward
looking statements. Forward looking statements are based on the beliefs, estimat es and opinions of Majuba Hill
Copper Corp. management on the date the statements are made. Except as required by law, Majuba Hill Copper
Corp. undertakes no obligation to update these forward -looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.