US Copper Corp Announces Positive Results from Superior Drill Program
US COPPER CORP ANNOUNCES POSITIVE RESULTS FROM
SUPERIOR DRILL PROGRAM
TORONTO, CANADA, October 18, 2021 – US Copper Corp (“US Copper” or the “Company”)
(TSX Venture: USCU) (OTCQB: USCUF) (Frankfurt: C73) is pleased to announce positive results
from the first 5 diamond drill holes of 7 completed holes drill ed on its Superior deposit at the
Moonlight-Superior Copper Project in Plumas County, North-East California.
Highlights
Table 1: Summary of drill hole data
DH# From
(ft)
To
(ft)
Interval
(ft)
Cu % Ag opt Au opt CuEq* Comments
S21-1 118.0 287.4 169.4 0.514 0.128 0.0006 0.562 Twin of DH S47
Including 240.0 287.4 47.4 0.757 0.216 0.0009 0.836
Including 248.5 270.4 21.9 1.100 0.302 0.0015 1.216
S21-2 328.0 402.9 74.9 0.435 0.118 0.0005 0.478 Twin of DH S29
Including 383.1 388.0 4.9 0.892 0.263 0.0018 1.004
S21-3 142.6 148.0 5.4 1.225 0.292 0.0036 1.384 TD in stope @398.6’
349.9 398.6 48.7 0.478 0.137 0.0008 0.533
S21-4 462.0 556.7 94.7 0.537 0.141 0.0008 0.593
Including 511.2 526.8 15.6 1.272 0.290 0.0019 1.394
617.5 627.5 10.0 1.020 0.233 0.0010 1.106
S21-5 103.0 178.0 75.0 0.367 0.126 0.0007 0.417
*CuEq = Cu% + ((Au opt*31.1035/10,000) *Au$/lb/Cu$/lb)) + ((Ag opt*31.1035/10,000) *Ag$/lb/Cu$/lb))
The objective for US Copper’s curre nt drill program is to verif y 50-year-old drill results (96 drill
holes (“dh”) totaling 50,000 feet (“ ft”) which will enable recalculation of the current resource
(Tanaka, 2014) and the reclassifi cation of most of the resource from inferred to indicated. With
sufficient data a further objecti ve would be to include silver and gold values in the resource.
Ultimately, US Copper intends to include the updated Superior r esource into a revised Moonlight
PEA (TetraTech, 2018) which was based on only the nearby Moonli ght Deposit. The historic
drilling by Placer Amex was done on a 250 ft x 250 ft grid of vertical holes averaging <600 ft per
dh. Little documentation and Quality Assurance/Quality Control (QAQC) protocols were retained
limiting the resource classification to inferred. US Copper’s full program as previously announced
will drill 10 - 12 vertical and angle holes (10,000 ft) inside the historic grid. Some holes will twin
older holes while most will be interior to the grid pattern.
“The five holes reported here show excellent continuity of grade and correlate very well to the
nearby historic holes, thereby validating Placer Amex drill results.” commented Stephen Dunn,
US Copper’s President and CEO. “To date the pr ogram has successfully achieved its objectives
including demonstrating that silver and gold will contribute to the project economics.”
Assay results from the other two completed drill holes are still pending and will be reported later.
Figure 1: Location of Drill holes at Superior Deposit
All seven completed holes were drilled entirely in the quartz monzonite of the mid-Jurassic Lights
Creek Stock. Mineralization consists of high-grade chalcopyrit e with minor bornite and other
copper sulfides in tourmaline-magnetite veins and veinlets (21.9 ft of 1.1% Cu in S21-1; 15.6 ft of
1.27% Cu in S21-4). Lower-grade disseminated mineralization is widespread adjacent to and
between the vein-veinlets. The a verage grade of the total foot age (3,598 ft) from the five holes
reported here is 0.2% copper, which exceeds the cutoff grade us ed in the Moonlight PEA (2018).
No significant oxide copper occurs at Superior, and pyrite is minor.
Overview
The drill program at Superior and Engels was initially designed to be a seven-hole program to
confirm historic Placer assays and test for gold/silver credits that had not been thoroughly measured
previously. With a successful financing in the spring, USCU de cided to expand the program to
complete 10 - 12 holes at Superior (plus another three holes at Engels) for the purpose of upgrading
the existing inferred resource (Tanaka, 2014) to the indicated category and then potentially rolling
the Superior resource into an updated Moonlight PEA (TetraTech, 2018). The Dixie Fire over-ran
the project area in September requiring the evacuation of emplo yees, contractors, and the drill
crew, prematurely terminating this season’s program.
Historical background on the Superior Deposit
Between 1915 and 1930, underground mining methods extracted app roximately 4.7 million tons
of ore producing 160 million lbs. of copper averaging 2.2% copp er, plus silver and gold credits
from the Superior and nearby Engels deposits. Most of the prod uction came from Engels, with
less than 1 million tons coming from several 5 – 20 ft wide mod erately dipping structures at
Superior. During the 1960’s Placer recognized lower grade, pot entially open-pitable
mineralization, between and surr ounding these structures and dr illed 96 vertical surface holes
(totaling about 50,000 ft) on a 250 ft. square grid. They defi ned a resource which they estimated
at of 72 million tons (“ mt”) of 0.384% Cu using a 0.25% cutoff. US Copper ( formerly Crown
Mining Corp) released a new resource (Tanak a, 2014) estimating an Inferred resource of 60 mt
containing 0.41% Cu with a 0.2% cutoff. The lack of complete documentation from Placer’s earlier
work precluded an Indicated classification of the resource. Because of insufficient data neither of
these resource estimates included silver or gold values.
Technical Information and Quality Control & Quality Assurance
US Copper personnel regularly obser ve procedures including the boxing of core at the drill site.
Core is then securely delivered to the core logging and storage facility in Crescent Mills CA (~10
miles from the drill sites). The core is logged, magnetically scanned, and photographed. Periodic
samples are collected for specific gravity testing and petrographic analysis. The core is then sawn
in half. One half is bagged with appropriate documentation and securely transported to the ALS
lab in Reno, NV. To ensure that proper QAQC accompanies the an alyses appropriate QAQC
elements are included in each batch of samples. The QAQC elements consist of certified standards,
duplicate analyses and certified coarse blanks or blank materia l that has been documented to be
barren for gold and base metals.
Qualified Person
The scientific and technical content of this press release has been reviewed and approved by
George Cole, M.Sc., Director of US Copper who is a "Qualified P erson" as defined in National
Instrument 43-101 Standards of Disclosure for Mineral Projects. George Cole is a Registered
Professional Geologist through AIPG (CPG-11687).
Stock Options
In addition, the Company announces that incentive stock options to purchase up to 1,200,000
common shares of the Company have been granted to various offic ers, directors and consultants
of the Company pursuant to the C ompany’s stock option plan and subject to any regulatory
approval. Each stock option is exercisable at $0.125 for a period of three years from the grant date.
About US Copper Corp
US Copper controls approximately 13 square miles of patented an d unpatented federal mining
claims in the Light’s Creek Copper District in Plumas County, NE California; essentially, the entire
District. The District contains substantial copper (silver) su lfide and copper oxide resources in
three deposits – Moonlight, Superior and Engels, as well as sev eral partially tested and untested
exploration targets.
The Superior and Engels Mines operated from about 1915-1930 pro ducing over 161 million
pounds of copper from over 4 million tons of rock containing 2. 2% copper with silver and gold
credits.
The Moonlight Deposit was discovered and drilled by Placer Amex during the 1960’s. Details of
the resources on US Copper’s property and the parameters used to calculate them can be found in
the "Technical Report and Preliminary Economic Assessment for t he Moonlight Deposit,
Moonlight-Superior Copper Project, California, USA" dated April 12, 2018, on both the
company’s website at www.uscoppercorp.com or on www.sedar.com under the US Copper Corp
profile.
For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, US Copper Corp ( 416) 361-2827 or email
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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities
laws and regulations, including statements regarding th e future activities of the Company. Forward-looking
statements reflect the current beliefs and expectations of management and are identified by the use of words including
“will”, “hopes”, “anticipates”, “expected to”, “plans”, “p lanned”, “intends” and other similar words. Actual
results may differ significantly. The achievement of the resu lts expressed in forward-looking statements is subject to
a number of risks, including those described in the Company’s management discussion and analysis as filed with the
Canadian securities regulatory authorities which are availabl e at www.sedar.com. Investors are cautioned not to
place undue reliance upon forward-looking statements.