US Copper Corp Reports Updated Mineral Resource Estimate for Moonlight-Superior Project
US Copper Corp Reports Updated Mineral Resource Estimate for
Moonlight-Superior Project
Highlights:
Indicated resources of 402 million tons containing:
o 2.5 billion pounds of copper
o 21 million ounces of silver
o 140,000 ounces of gold
Inferred Resource of 64 million tons containing:
o 394 million pounds of copper
TORONTO, CANADA, November 25, 2024 – US Copper Corp (“ US Copper ” or the
“Company”) (TSX Venture: USCU) (OTCQB: USCUF) (Frankfurt: C73) is pleased to announce
an updated Mineral Resource Estimate (“ Resource”) on its entire 100% controlled Moonlight-
Superior Copper Project in Northeast California.
This Resource will be used for the development of an updated Preliminary Economic Assessment
(“PEA”) on the Moonlight-Superior Project which is now anticipated in early January, 2025.
The updated Resource (see Table 1 below) comprises an open-pit Indicated Resource of 402
million tons grading 0.31% Cu for total contained metal of 2.5 billion pounds of copper,
representing a 99% increase in the Indicated Resource Category for contained copper from
our 2018 Resource Estimate (see April 12, 2018 press release). This updated Resource also
includes an additional Inferred R esource of 64 million tons gra ding 0.31% copper for total
contained metal of 394 million pounds of copper.
Management Commentary
Stephen Dunn, CEO of US Copper, commented: “We are extremely pleased with the results of the
updated Mineral Resource Estimate (“ MRE”) for the Moonlight-Supe rior project. The overall
copper resource now exceeds 2.5 billion pounds in the Indicated category, and our Moonlight-
Superior Project is showing excellent potential to become a key American copper producer.
Mr. Dunn continued: “This MRE will provide the basis for a Prel iminary Economic Assessment,
which we expect will be available to release in early January 2025. As the world is facing growing
supply/demand imbalance of this c ritical mineral, we strongly b elieve that this important asset
could become a core component of the United States’ critical mi neral development strategy that
aims to provide essential metals for the energy transition and ongoing demand growth from many
economic sectors.”
New Mineral Resource Estimate
The Resource Estimate is summarized in Table 1 below. The Resou rce Estimate was prepared by
Terre Lane, of Global Resource Engineering, Denver, Colorado (“GRE”). Ms. Lane is independent
of US Copper Corp. A technical report prepared in accordance wi th NI43-101 (the “ Technical
Report”) will be filed on the Company’s website and SEDAR+ within 45 days of the date of this
press release.
Key assumptions reflected in the MRE are detailed below for eac h deposit and will be further
described in the Technical Report.
This estimate is supported by more than 200,000 feet of historic drilling on the Project, conducted
by Placer Amex, US Copper, and 3 other junior exploration compa nies, as well as a resampling
and database validation program undertaken by the Company.
Table 1
Deposit Material
Cutoff
Grade Units
Mass
(million
tons)
Cu
Grade
(%)
Cu
Content
('000 lb)
Ag Grade
(ppm)
Ag
Content
(troy oz.)
Au
Grade
(ppm)
Au
Content
(troy
oz.)
Indicated
Engels
Oxide 0.16 % 2.39 0.81 40,861 7.72 565,232 0.055 4,050
Transition 0.16 % 7.52 0.50 79,941 4.75 1,093,948 0.042 10,194
Sulfide 10.45 NSR/ton 8.32 0.46 76,750 5.83 1,415,487 0.056 13,58 5
Lambs
Ridge
Oxide 0.16 % 0.00 0.00 0 0.00 0 0.000 0
Transition 0.16 % 0.00 0.00 0 0.00 0 0.000 0
Sulfide 10.45 NSR/ton 1.61 0.27 8,614 0.00 0 0.000 0
Moonlight
Oxide 0.16 % 1.35 0.36 10,244 3.77 154,364 0.128 5,460
Transition 0.16 % 25.71 0.33 179,071 3.85 2,972,073 0.037 30,083
Sulfide 10.45 NSR/ton 232.35 0.30 1,390,461 1.87 12,674,340 0.009 61,721
Copper
Mountain
Oxide 0.16 % 0.00 0.00 0 0.00 0 0.000 0
Transition 0.16 % 0.00 0.00 0 0.00 0 0.000 0
Sulfide 10.45 NSR/ton 3.94 0.32 24,936 0.00 0 0.000 0
Superior
Oxide 0.16 % 0.00 0.00 0 0.00 0 0.000 0
Transition 0.16 % 0.00 0.00 0 0.00 0 0.000 0
Sulfide 10.45 NSR/ton 119.64 0.30 722,893 0.81 2,817,086 0.004 14 ,949
Total
Oxide 0.16 % 3.74 0.68 51,104 6.59 719,596 0.087 9,510
Transition 0.16 % 33.23 0.39 259,012 4.20 4,066,021 0.042 40,277
Sulfide 10.45 NSR/ton 365.86 0.30 2,223,654 1.58 16,906,913 0.008 90,255
Total 402.83 0.31 2,533,771 1.85 21,692,531 0.012 140,042
Inferred
Engels
Oxide 0.16 % 0.15 1.18 3,740 11.91 55,046 0.010 48
Transition 0.16 % 1.73 0.49 18,287 5.20 281,158 0.019 1,053
Sulfide 10.45 NSR/ton 6.93 0.38 52,445 5.08 1,027,412 0.041 8,280
Lambs
Ridge
Oxide 0.16 % 0.00 0.00 0 0.00 0 0.000 0
Transition 0.16 % 0.00 0.00 0 0.00 0 0.000 0
Sulfide 10.45 NSR/ton 3.46 0.30 20,954 0.00 0 0.000 0
Deposit Material
Cutoff
Grade Units
Mass
(million
tons)
Cu
Grade
(%)
Cu
Content
('000 lb)
Ag Grade
(ppm)
Ag
Content
(troy oz.)
Au
Grade
(ppm)
Au
Content
(troy
oz.)
Moonlight
Oxide 0.16 % 0.00 0.00 0 0.00 0 0.000 0
Transition 0.16 % 0.00 0.00 0 0.00 0 0.000 0
Sulfide 10.45 NSR/ton 30.82 0.28 175,635 0.09 81,857 0.000 35
Copper
Mountain
Oxide 0.16 % 0.00 0.00 0 0.00 0 0.000 0
Transition 0.16 % 0.00 0.00 0 0.00 0 0.000 0
Sulfide 10.45 NSR/ton 3.90 0.27 21,320 0.00 0 0.000 0
Superior
Oxide 0.16 % 0.00 0.00 0 0.00 0 0.000 0
Transition 0.16 % 0.00 0.00 0 0.00 0 0.000 0
Sulfide 10.45 NSR/ton 17.60 0.29 101,817 0.01 2,681 0.000 23
Total
Oxide 0.16 % 0.15 1.25 3,740 12.64 55,046 0.011 48
Transition 0.16 % 1.73 0.53 18,287 5.58 281,158 0.021 1,053
Sulfide 10.45 NSR/ton 62.71 0.30 372,171 0.61 1,111,950 0.005 8,3 38
Total 64.59 0.31 394,199 0.77 1,448,154 0.005 9,440
*Notes:
1. The effective date of the Mineral Resource is September 15, 2024.
2. The Qualified Person for the Mineral Resource Estimate is Terre Lane of GRE.
3. Mineral resources are reported at a 0.16% Cu cutoff for oxid e and transition material and at a 10.45
NSR/ton cutoff for sulfide material. The oxide and transition cutoff is calculated based on a long-term
copper price of US$4.00/lb; assumed combined operating costs of US$7.50/ton (process and G&A);
metallurgical recovery of 75% for copper. The sulfide cutoff is calculated as the breakeven NSR, which
is equal to the combined process and G&A costs for the sulfide material.
4. Mineral resources are captured within an optimized pit shell and meet the test of reasonable
prospects for economic extraction by open pit. The optimization used mining costs of US$2.35/ton
mined and a 45º pit slope.
5. Rounding may result in apparent differences when summing ton s, grade, and contained metal
content.
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 NI 43-101
Standards of Disclosure for Mineral Projects. George Cole is a Registered Professional Geologist
through AIPG (CPG-11687).
About US Copper Corp
US Copper controls approximately 10 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 s ubstantial copper (silver) sul fide 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 to 1930 producing 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 discove red by Placer Amex during the 1960s and a resource was
calculated after the drilling of over 400 holes. A development decision was made but then put on
hold in 1972 when copper prices were weak. US Copper has owned the project since 2013 and has
advanced the project with 3 different drill programs and a numb er of engineering studies. Further
details can be found on both the Company’s website at www.uscoppercorp.com and SEDAR+ at
sedarplus.ca 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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
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 available at www.sedarplus.ca. Investors are cautioned not to
place undue reliance upon forward-looking statements.