World Copper Identifies New Opportunity at Zonia Copper Project in Arizona
#1570 - 200 Burrard Street
Vancouver, BC, Canada, V6C 3L6
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
NR24-08 July 2, 2024
World Copper Identifies New Opportunity at
Zonia Copper Project in Arizona
FOR IMMEDIATE RELEASE...Vancouver, British Columbia: World Copper Ltd. (" World Copper" or
the "Company"; TSXV: WCU, OTCQB: WCUFF, FSE: 7LY0) provides an update on its Zonia copper -
oxide project in Arizona, USA (“Zonia” or the Zonia Project”).
A review of historical data by World Copper's newly formed Technical Advisory Committee has revealed
the potential for re -processing mineralized material that was included in the historical mine plan at the
Zonia Project. This material, located on heap leach pads from historical production on private patented land,
and last processed in the mid-1970s, was treated with acid to recover soluble copper. Two historical reports,
a 1979 mine production summary report by McAlester Fuel Company (“McAlester”) and a 1982 resource
evaluation report by Mountain States Research & Development (“MSRD”), indicate that the site hosts over
14 million tons of historically mined material available for re-processing:
• 7.1 million tons of run-of-mine mineralized material placed on three historical heap leach pads; and
• 7.7 million tons of blasted and leveled in-situ leach (“ISL”) mineralized material.
For the material placed on the three heap -leach pads, the average original (pre -leaching) copper grade
estimated by drilling prior to production was reported to be between 0.6% total copper (“CuT”) (McAlester
production report) and 0.4% CuT (MSRD report estimate based on drilling of the leach pads). This yielded
30.5 million pounds of copper during its operational period of March 1966 to March 1975, which means
that between 26.7 and 55.1 million pounds of copper could remain unrecovered from the pads, based on the
reported original grade of the mineralized material. McAlester further reported that between mid -1972 to
March 1975, the ISL area produced 2.70 million pounds of copper from material with estimated original
copper grades between 0.269% and 0.292% CuT (McAlester and MSRD respective estimates), indicating
that this area could contain between 38.6 and 41.8 million pounds of copper. According to these two reports
the total potential unrecovered material from both the three leach pads and the ISL area could range between
65 million pounds to 96 million pounds of copper. As a result, World Copper's Technical Advisory
Committee believes the Company should investigate the possibility of re -processing the run-of-mine and
ISL material for unrecovered copper.
Readers are cautioned that the above historical quantities and grades reported in the McAlester production
report and MSRD report have not been verified by the Company and there has been insufficient work to
determine if the numbers in the historical reports are accurate. The potential quantity and grade of copper
at the historical heap leach pads and ISL area is conceptual in nature, there has been insufficient exploration
to define a mineral resource and it is uncertain if further exploration will result in the target being delineated
as a mineral resource. The Company is not treating the opportunity target as current mineral resources or
mineral reserves.
Given that the heap leach pads are on private patented land, they are readily accessible from a permitting
perspective. To confirm the quality of the mineralized material for re-processing, the Company expects to
complete a confirmatory drilling programme and metallurgical testing on the leach pads to confirm the
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T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
volume, grade, and mineralogical characteristics of the material and to estimate the potentially recoverable
pounds of acid- soluble copper. If the grade and mineralogical characteristics of the historically mined
material is confirmed through the results of the exploration program, the Company will also analyze if the
mineralized material could be processed before any potential future mining of the bedrock resources.
Mr. Gord Neal, CEO of World Copper, commented: “The prospect of re- processing historically mined
mineralized material would add more value and provide additional upside to the Zonia Project, and it is a
unique potential value opportunity. In mining projects, any opportunity to start production early and to
generate revenue right from the start of the operations, can greatly improve the economics of the project
increasing the net present value (NPV) and reducing the financing needs, making the project more robust,
and lowering the execution risk.”.
World Copper remains committed to advancing the Zonia Project and maximizing shareholder value
through innovative and strategic approaches to resource development.
ABOUT THE ZONIA PROJECT
Zonia is in the Walnut Grove Mining District, Yavapai County, Arizona, and consists of 96 patented and
185 unpatented mineral claims, 566.85 acres of surface rights acquired from the State of Arizona, and 376
acres purchased from a private estate, all totaling 4,373 acres.
Zonia is a near-surface, copper-oxide resource and a brownfields site having already been pre-stripped and
mined in the late 1960s and ’70s. The project has been significantly de -risked with over 50,000 metres of
drilling completed to date and with substantial amounts of detailed engineering completed. The PEA based
on the Historical Resource Estimate indicated that the project could be advanced utilizing low -cost open
pit mining and heap leach with SX -EW processing to produce pure copper cathode (a copy of the PEA
technical report is available on Zonia Holdings Corp.’s (formerly Cardero Resource Corp.) SEDAR+ profile
at www.sedarplus.ca).
In addition to the established resource, the Zonia land position contains a copper-molybdenum geochemical
anomaly Zonia North located within the same prospective geology. This anomaly is located two kilometres
northeast of the resource and represents a high-priority copper-oxide porphyry exploration drill target. For
further details on the Zonia North target please refer to news releases from May 2, 2022.
The Zonia Project´s most recent mineral resource estimate includes 75.7 million short tons grading 0.30%
total-copper (Indicated Resources) containing 450.5 million pounds of copper and 122.0 million short tons
grading 0.24% total -copper (Inferred Resources) containing 575.4 million pounds of copper (see news
release dated February 23, 2023).
The Updated Resource Estimate was completed by Richard A. Schwering P.G., SME -RM, of Hard Rock
Consulting, LLC of Lakewood, Colorado (“HRC“), an independent qualified person as defined by National
Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“), for World Copper as part
of the Company’s overall exploration plan for Zonia (see news release dated May 22, 2022).
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Table 1. Resource Estimate for Zonia
Classification (Oxidation State) Copper Cut-off (%) Short Tons (Million) Grade (CuT %) Cu. Lbs.
(Million)
Indicated (Oxide) 0.125 71.3 0.30 425.1
Indicated (Transition) 0.130 4.4 0.29 25.4
Total Indicated Variable 75.7 0.30 450.5
Inferred (Oxide) 0.125 100.1 0.23 463.7
Inferred (Transition) 0.130 21.9 0.25 111.7
Total Inferred Variable 122.0 0.24 575.4
Notes:
1. The effective date of the Updated Resource Estimate is September 1, 2022.
2. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Inferred Mineral Resources are that part of the mineral resource for which quantity and grade or
quality are estimated on the basis of limited geologic evidence and sampling, which is sufficient to
imply but not verify grade or quality continuity. Inferred Mineral Resources may not be converted
to mineral reserves. It is reasonably expected, though not guaranteed, that the majority of Inferred
Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration
(see “Cautionary Note to United States Investors“).
3. Mineral resources are reported using a variable total -copper cut-off. The cut-off grade for blocks
was calculated based on the following assumptions: a long- term copper price of US$3.60/lb.,
assumed combined operating ore costs of US$6.25/ton (low grade re-handle, process, and general
and administrative costs), refining & shipping costs of US$0.15/lb. of copper, and copper
metallurgical recoveries of 73% for blocks coded as oxide and 70% for blocks coded as transition.
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 the same mining costs of
US$4.75/Ton mined and a 50º pit slope.
5. Mineral resource tonnage and contained metal have been rounded to reflect the accuracy of the
estimate, and numbers may not add due to rounding.
Table 2. Mineral Resources Over a Range of Cut-off Grades
Cut-off Indicated Inferred
Grade Tonnage CuT Cu lbs Tonnage CuT Cu lbs
(CuT %) T x 1000 Grade lbs x 1000 T x 1000 Grade lbs x 1000
0.090 87,747 0.27 475,976 162,657 0.20 662,848
0.100 83,865 0.28 468,588 152,548 0.21 643,594
0.125 75,751 0.30 450,622 122,164 0.24 575,722
Base Case 0.125-.130 75,720 0.30 450,541 122,031 0.24 575,385
0.150 71,879 0.31 440,114 103,964 0.25 526,232
0.175 68,631 0.31 429,464 91,327 0.27 485,298
0.200 63,166 0.32 408,869 76,672 0.28 429,769
0.225 55,457 0.34 375,983 63,410 0.29 373,374
0.250 47,137 0.36 336,415 48,081 0.31 300,678
Notes:
1. See notes to Table 1.
World Copper Ltd. - 4 - July 2, 2024
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T: 604-638-3287 / F: 604-408-7499
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Figure 1. View of Pit Constrained Resources Above Cut -off Looking North and Rotated Down 60
Degrees (Hard Rock Consulting, 2022).
QUALIFIED PERSONS
John Drobe, P.Geo., a qualified person as defined by NI 43- 101, has reviewed the scientific and technical
information that forms the basis for this news release and has approved the disclosure herein. Mr. Drobe
is not independent of World Copper as he is a consultant of World Copper.
ABOUT WORLD COPPER LTD.
World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the
exploration and development of its copper porphyry projects: Zonia in Arizona and Escalones in Chile.
Both projects have estimated resources with significant soluble copper mineralization, and they boast
exciting potential to expand the resource base. The Company is dedicated to sustainable practices and
leveraging technology to develop safe and productive mining operations in stable, mining-friendly
jurisdictions.
Detailed information is available at World Copper’s website at www.worldcopperltd.com, and for general
Company updates you may follow us on our social media pages via Facebook, Twitter & LinkedIn.
On Behalf of the Board of Directors of
WORLD COPPER LTD.
Gord Neal
Chief Executive Officer
For further information, or to schedule a Zoom meeting with Management, please contact:
Gord Neal or Michael Pound
Phone: 604-638-3287
E-mail: [email protected]
World Copper Ltd. - 5 - July 2, 2024
NR24-08 Continued
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For all Public Relations inquiries, please contact:
Nancy Thompson
Vorticom, Inc.
Office: 212-532-2208 | Mobile: 917-371-4053
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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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward -looking statements and forward -looking information (collectively, “forward -
looking statements”) within the meaning of applicable Canadian and U.S. securities legislation. All statements, other
than statements of historical fact, included herein including, without limitation, statements with respect to anticipated
exploration program results from exploration activities (including the potential results of re-processing the historical
heap leach pads and ISL area), the expected exploration at Zonia of the historical heap leach pads and ISL area, 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 expectations 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 nature, 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 material assumptions, including without limitation, market fundamentals will result in sustained copper
demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the
future development of Zonia in a timely manner, the availability of financing on suitable terms for the development,
construction and 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 Zonia, the estimation or realization of mineral reserves and
mineral resources, the timing and amount of estimated future production, the costs of production, capital expenditures,
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 relating to epidemics or pandemics such as COVID–19, including the impact of COVID–
19 on World Copper’s business, financial condition and results of operations, changes in laws, regulations and
policies affecting mining operations, title disputes, the inability of World Copper to obtain any necessary permits,
consents, approvals or authorizations, the timing and possible outcome of any pending litigation, environmental issues
and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in World
Copper’s continuous disclosure documents. All of World Copper’s Canadian public disclosure filings may be
accessed via www.sedarplus.ca and readers are urged to review these materials.
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Readers are cautioned not to place undue reliance on forward-looking statements. World Copper does not undertake
any obligation to update any of the forward- looking statements in this news release or incorporated by reference
herein, except as otherwise required by law.
Cautionary Note to United States Investors
World Copper prepares its disclosure in accordance with the requirements of securities laws in effect in Canada,
which differ from the requirements of U.S. securities laws. Terms relating to mineral resources in this news release
are defined in accordance with NI 43 -101 under the guidelines set out in CIM Standards. The U.S. Securities and
Exchange Commission (the “SEC”) has adopted amendments effective February 25, 2019 (the “SEC Modernization
Rules”) to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities
are registered with the SEC under the U.S. Securities Exchange Act of 1934.
As a result of the adoption of the SEC Modernization Rules, the SEC will now recognize estimates of “measured
mineral resources”, “indicated mineral resources” and “inferred mineral resources”, which are defined in
substantially similar terms to the corresponding CIM Standards. In addition, the SEC has amended its definitions of
“proven mineral reserves” and “probable mineral reserves” to be substantially similar to the corresponding CIM
Standards.
U.S. investors are cautioned that while the foregoing terms are “substantially similar” to corresponding definitions
under the CIM Standards, there are differences in the definitions under the SEC Modernization Rules and the CIM
Standards. Accordingly, there is no assurance any mineral resources that World Copper may report as “measured
mineral resources”, “indicated mineral resources” and “inferred mineral resources” under NI 43- 101 would be the
same had World Copper prepared the resource estimates under the standards adopted under the SEC Modernization
Rules.
In accordance with Canadian securities laws, estimates of “inferred mineral resources” cannot form the basis of
feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101.