World Copper Commences Trading on the TSX Venture Exchange and Provides Corporate Update
LC276657-1
NR 21-03 January 26, 2021
World Copper Commences Trading on the TSX Venture Exchange and
Provides Corporate Update
FOR IMMEDIATE RELEASE...Vancouver, British Columbia: World Copp er Ltd., formerly
Allante Resources Ltd. ("World Copper" or the "Company") - (TSXV: WCU) announces that its
common shares are set to begin trading on the TSX Venture Exchange (the "TSXV") as of market
open on January 26, 2021.
General Company and Industry Update
Much has happened at World Copper since our last corporate update news release dated October 8,
2020. The outbreak of the COVID-19 pandemic notwithstanding, W orld Copper has been
advancing on several fronts. In a news release dated January 1 8, 2021, the Company announced
the closing of its previously announced "qualifying transaction" with 1188893 B.C. Ltd. (formerly
World Copper Ltd.) and, as a condition to the completion of the transaction, the Company
completed a name change from "Allante Resources Ltd." to "World Copper Ltd." effective
January 12, 2021. Additionally, CEO & Director Henk van Alphen kicked-off 2021 with an
interactive webinar on January 18th during which a general Comp any update was given to
shareholders and interested parties (the webinar can be viewed here).
Since the beginning of the COVID-19 pandemic, copper supplies h ave decreased from South
America, the U.S. and Africa. T he price of copper recently cle ared USD$3.50 per pound as the
world is experiencing increasing Chinese demand. This represen ts a 55% gain in the price of
copper since the COVID-19 lows in March 2020. China consumes m ore than half of all global
copper production and as it stands, LME inventories are now at 13-year lows. Additionally,
disruptions to mine supply have caused copper mine production t o fall by 1.5% and 8 of the 10
largest miners in the world have recorded increasingly lower ou tput levels during the first six
months of the year. World Copper believes the future for coppe r is bright, and as such continues
to push forward with our goals as a company operating in the burgeoning copper sector.
Recently, Goldman Sachs has stated that the next base metals "Supercycle" is on the horizon11. A
Supercycle is a "decades-long, above-trend movements in a wide range of base material prices"
that is usually derived from a structural change in demand. Th e signs for this new Supercycle
boom are all around us, and include the economic impact of COVI D-19, the green industrial
revolution, the United States' re turn to the Paris Agreement an d China committing to carbon
neutrality by 2060. There is a synchronized global push for decarbonization that "has the potential
to create a capex cycle on par with the emerging markets-driven cycle of the 2000s". Due to the
1 Reuters 2021 (https://www.reuters.com/article/us-metals-supercycle-ahome-idUKKBN29A1QM?edition-
redirect=uk), "Super-cycles of commodity prices since the mid-nineteenth century", United Nations DESA Working
Paper, 2012.
World Copper Ltd. - 2 - January 26, 2021
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#2300 – 1177 West Hastings Street, Vancouver, BC, V6E 2K3 • T: 604-638-3287 • F: 604-408-7499
www.worldcopperltd.com
ever-increasing demand for copper, the Company is positioning i tself to be a part of the supply
solution, aiding in the progression of the green revolution.
Escalones Porphyry Copper Project
The Escalones Porphyry Copper Project (the " Escalones Project ") is located 35km east of
El Teniente, one of the world’ s largest underground copper mine s, and within the renowned
Chilean porphyry copper belt that runs north-south in the central Andes Mountains.
The Escalones Project covers an area of 161km2, of which (i) 46 km2 are covered by 19 exploitation
concessions that are the subject o f an option agreement between C h i l e a n s u b s i d i a r y o f W o r l d
Copper, TriMetals Mining Chile SCM ("TMI Chile"), and a third-party vendor for a 100% interest
in the concessions; and (ii) 115km 2 are covered by 40 explorati on concessions, owned by TMI
Chile.
In June 2020, World Copper commissioned Hard Rock Consulting, LLC ("HRC") of Lakewood,
Colorado to update a 2014 historic al mineral resource estimate on the Escalones Project in
compliance with National Instrument 43-101 (" NI 43-101"). The effective date of the updated
mineral resource estimate is June 30, 2020.
The updated mineral resource estimate is reported using a 0.24% CuEq cutoff and reports the
Escalones Project as having pit-constrained Indicated resources of approximately 185 million
tonnes of 0.33% copper (0.37% CuEq) and Inferred resources of approximately 254 million tonnes
of 0.39% copper (0.43% CuEq), based on nearly 25,000m of drill core from 53 holes. Significant
gold and silver accompany the copper. The mineralization sits within a 4km2 area of hydrothermal
alteration comprising quartz-seri cite, potassic, and calc-silic ate alteration assemblages.
Coincident copper, gold and silv er geochemical anomalies are as sociated with porphyry-style
mineralization (disseminated and fracture-fill) in granitic int rusions and hornfelsed sandstone,
with additional replacement-style "skarn" mineralization hosted in outer flanking calcareous
sedimentary rocks.
The full report entitled "Mineral Resource Estimate for the Esc alones Copper Project, Santiago
Metropolitan Region, Chile" and dated September 17, 2020, with an effective date of June 30,
2020 (the " Escalones Technical Report ") can be viewed on the Company’s SEDAR profile at
www.sedar.com.
Mineral resources are not mineral reserves and do not have demo nstrated economic viability as
there is no certainty that all or any part of the resources wil l 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 i s reasonably expected that the
inferred resources could be upgraded to indicated resources with continued exploration.
Copper mineralization on the Esc alones Project occurs as chalco pyrite, bornite, and covellite,
which are partially to completely replaced within about 300m of the surface by secondary copper
oxides, sulphates and carbonates. This replacement has led to higher grades at shallower depths,
and, since the mineralization sits within a high-standing ridge, makes it more amenable to open pit
mining.
One of the most exciting conclusions to come out of recent revi ews of the data as applied to this
revised resource estimate is the possibility for the developmen t of a near-surface copper-oxide
World Copper Ltd. - 3 - January 26, 2021
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#2300 – 1177 West Hastings Street, Vancouver, BC, V6E 2K3 • T: 604-638-3287 • F: 604-408-7499
www.worldcopperltd.com
resource at Escalones. Approximately two-thirds of the estimated resource occurs in the oxidized
enrichment zone above the sulphide mineralization. This materi al should be amenable to heap
leach processing, which could result in lower operating costs as well as lower copper cutoff grades.
In addition, the Escalones deposit remains open laterally, with roughly 50% of the target untested.
This conclusion is supported by geological and geophysical studies of the Escalones porphyry and
associated mineralized skarn occurrences. While we expect to b e able to increase the size of the
deposit in terms of tonnage, we also believe the possibility to increase grade is high.
The Escalones "Cluster"
An important feature of Chilean copper deposits is that they of ten occur in clusters where more
than one deposit occurs. Examples of deposit clusters in Chile are numerous and include the
Escondida, Zaldivar and Escondida Norte cluster, the Chuquicama ta, Radomiro Tomic, Mina
Ministro Hales - MM and Mina Sur (Exotica) cluster farther nort h, and the Collahuasi District
cluster, including Ujina, Rosario and the Quebrada Blanca deposits in the far north of the country.
Today most of these mineral deposit clusters in Chile have likely been discovered and drill-tested.
The Escalones Project contains what may be one of the last rema ining untested mineralized
porphyry clusters in Chile. Thr ee significant hydrothermal alt eration zones, each measuring
between 2,000m and 3,000m in diameter, lie 5-10km to the north of the main discovery, and were
recce mapped and sampled by General Minerals Corporation ("GMC") in 1999. GMC discovered
disseminated and fracture-contro lled copper oxide and sulphide mineralization within the Rio
Negro target, with continuous-chip samples of outcrop returning highly encouraging initial results
including 1m of 8.3% Cu, 2m of 0.52% Cu and, 500m to the southe ast, 3m of 1.93% Cu within a
broader sample of 34m of 0.4% Cu.
No drilling has been carried out on these three new targets (in cluding the Rio Neg ro target). A
qualified person has not done suf ficient work to independently verify these historical sampling
results and World Copper does not consider them current or necessarily indicative of future results.
The potential quantity and grade of such results is conceptual in nature, there has been insufficient
exploration to define a mineral resource and it is uncertain th at further exploration will result in
such targets being delineated as mineral resources.
Escalones Proposed Work Program
The work program scheduled for t he Escalones Project includes a preliminary 2,100m drill
program in seven holes along exis ting roads. This will test th e area south of the present drilling
limit for an extension to the copper mineralization and define the oxide-sulphide boundary in this
direction. Surface sampling and mapping will be a part of this program. Exploration will also be
carried out over the three additional northern targets and will comprise rock sampling and mapping
to adequately evaluate the potential of each of the large anomalous areas.
In order to follow up on the enriched copper-oxide and secondar y mineralization potential,
metallurgical studies are underway using core sample rejects for sequential copper leach and acid
consumption analyses in order to further define acid-soluble mineralization at Escalones.
World Copper is closely monitori ng the COVID-19 situation in Ch ile before mobilizing work
crews to the Escalones Project. Further updates will be forthc oming as we continue to move
forward.
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#2300 – 1177 West Hastings Street, Vancouver, BC, V6E 2K3 • T: 604-638-3287 • F: 604-408-7499
www.worldcopperltd.com
Cristal Project Update
No work has been carried out on the Cristal Project since the O ctober 2020 corporate update.
However, the original NI 43-101 technical report is in the proc ess of being updated along with
changes to the recommended work program and budget.
In the meantime, World Copper continues to search for opportunities in the copper space.
Qualified Person
John Drobe, P.Geo., a qualified person as defined by NI 43-101, has reviewed the scientific and
technical information that forms t he basis for this news releas e 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 Canadia n resource company focused
the exploration and development of its two primary copper porph yry projects, Cristal and
Escalones, both located in Chile. World Copper has laid claim to 5 copper porphyry targets,
including 1 with a historical resource estimate and significant soluble copper mineralization.
Cristal is in a prospective por phyry copper belt and with high potential for additional large
porphyry discoveries, and the Escalones porphyry-skarn has a hi storical NI 43-101 resource with
a tremendous upside exploration potential in its supergene and skarn extension targets.
The World Copper team has long b een involved in the Chilean lit hium space and as such has a
unique skill in navigating the mining sector within the country.
Detailed information is available at the Company’s website at www.worldcopperltd.com, and for
general Company updates please fo llow us on our social media pa ges via Facebook, Twitter &
LinkedIn.
For further details on the Company readers are referred to the Company's website. To view the
Company’s Canadian regulatory filings, please visit SEDAR.
On Behalf of the Board of Directors of
WORLD COPPER LTD.
"Hendrik van Alphen"
Hendrik van Alphen
Chief Executive Officer
For further information, please contact:
Henk van Alphen or Michael Pound
Phone: 604-638-3665
E-mail: [email protected]
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.
World Copper Ltd. - 5 - January 26, 2021
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#2300 – 1177 West Hastings Street, Vancouver, BC, V6E 2K3 • T: 604-638-3287 • F: 604-408-7499
www.worldcopperltd.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statemen ts 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 incl uding, without limitation, statements with respect to
anticipated exploration program results from explo ration 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 expect ations 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 nat ure, 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 ma terial assumptions, including without limitation,,
market fundamentals will result in sustained copper de mand and prices, the receipt of any necessary
permits, licenses and regulatory approvals in connecti on with the future development of World Copper's
Chilean projects in a timely manner, including th e Escalones Project and the Cristal Project, the
availability of financing on suitable terms for the development, construction a nd 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 expend itures, 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 relatin g to epidemics or pandemics such as COVID–19,
including the impact of COVID–19 on World Copp er's business, financial condition and results of
operations, changes in laws, regula tions and policies affecting mini ng operations, title disputes, the
inability of World Copper to obtain any necessary p ermits, consents, approvals or authorizations, the
timing and possible outcome of any pending litigat ion, environmental issues and liabilities, and risks
related to joint venture operations , and other risks and uncertainti es 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 forwar d-looking statements in this news release or
incorporated by reference herein, except as otherwise required by law.