World Copper Provides Project Updates and Announces an Updated Resource Estimate for the Zonia Project
#1570 - 200 Burrard Street
Vancouver, BC, Canada, V6C 3L6
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
NR24-14 September 9, 2024
World Copper Provides Project Updates and Announces an
Updated Resource Estimate for the Zonia Project
FOR IMMEDIATE RELEASE...Vancouver, British Columbia: World Copper Ltd. ( "World Copper" or
the "Company"; TSXV: WCU, OTCQB: WCUFF, FSE:7LY0) announces, project updates.
Zonia
The Company announces the results of an updated mineral resource estimate (the “Updated Resource
Estimate“) for the Zonia copper-oxide deposit in Arizona, USA (“Zonia” or the “Project“). The updated
estimate includes 113.2 million short tons grading 0.303% total -copper in the Indicated category (686
million pounds of copper), and 59.2 million short tons grading 0.254% total-copper in the Inferred category,
(300 million pounds of copper). This is a significant expansion of the 2023 resource estimate and is a result
of using a higher copper price and refined mineralization models and modeling method.
CEO Gord Neal states: “This updated resource significantly increases the value of an already prominent
copper asse. This new report greatly de-risks the project by expanding the indicated resource classification
of the deposit. This new resource definition could significantly extend the life of mine of the project. It also
has the potential to substantially increase the throughput of future operations and boost the projected
annual production profile. Combined with the resource expansion potential of the Zonia North properties,
the Project is now exhibiting the potential to become a large-scale copper producer”.
Highlights:
• Updated Resource Estimate with:
o Indicated Resources of 113.2 million short tons grading 0.303% total -
copper containing 686 million pounds of copper; and
o Inferred Resources of 59.2 million short tons grading 0.254 % total-copper
containing 300 million pounds of copper.
• A strip ratio of 3.2 waste to mineralized material at the base case cutoff mineral
resource estimate. A low strip ratio of 1.1 waste:mineralized material at the
economic cutoff of 0.07% TCu
• Significant expansion of the Zonia resource estimate compared to the Historical
Resource Estimate.
• Pre-development revenue from re-processing of historically mined and stockpiled
material expected.
The classified resources are outlined in detail in Table 1 at the base case total copper (TCu) cut-off grade
of 0.18% and at a range of TCu cut-off grades in Table 2. The Updated Resource Estimate was completed
by Sue Bird P.Eng., of Moose Mountain Technical Services (“MMTS“), an independent qualified person
as defined by National Instrument 43-101 (“NI 43-101“) Standards of Disclosure for Mineral Projects , for
World Copper as part of the Company’s overall exploration plan for Zonia ( see news release dated May
22, 2022).
World Copper Ltd. - 2 - September 9, 2024
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Table 1. Updated Zonia Mineral Resource Estimate at the Base Case Cutoff Grade
Classification
(Oxidation State)
Copper Cut-
off (%)
Short
Tons
(Million)
Grade (CuT
%)
Cu. Lbs.
(Million)
Indicated (Oxide) 0.18 102.6 0.307 629
Indicated (Mixed) 0.18 10.6 0.271 57
Total Indicated 0.18 113.2 0.303 686
Inferred (Oxide) 0.18 43.8 0.256 224
Inferred (Mixed) 0.18 15.4 0.247 76
Total Inferred 0.18 59.2 0.254 300
Notes to the Resource Tables:
1. The effective date of the Updated Resource Estimate is August 27, 2024.
2. Resources are reported using the 2014 CIM Definition Standards and were estimated using the 2019 CIM
Best Practices Guidelines, as required by NI43-101
3. The base case Mineral Resource has been confined by "reasonable prospects of eventual economic
extraction" shape using the following assumptions:
1. Metal price of US$4.00/lb of Cu
2. Metallurgical recovery of 75% in oxides and 70% in the transitional zone
3. Offsite costs (transport, smelter treatment and refining) of US$0.05/lb of Cu
4. Processing Costs of US$4/lb milled and General & Administrative (G&A) costs of CDN$ 2.00/ lb
milled
5. Mining cost of CDN$2.00 / ton
6. 48-degree pit slopes
7. The 150% price case pit shell is used for the resource confining shape
4. The resulting NSR = Cu*US$3.95/lb *0.75 for oxides and NSR = Cu*US$3.95/lb *0.70 in the transitional
zone
5. . 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“).
6. Numbers may not add due to rounding.
Table 2. Zonia Mineral Resources Over a Range of Cut-off Grades
TCu Cut-off
Grade (%)
Indicated Inferred
Tonnage
(ktons) TCu (%)
Cu Metal
Content
(Mlbs)
Tonnage
(ktons) TCu (%)
Cu Metal
Content
(Mlbs)
0.15 134,064 0.282 755 77,178 0.233 360
0.16 127,261 0.288 734 71,303 0.239 342
0.17 120,427 0.296 712 65,336 0.246 322
0.18 113,166 0.303 686 59,196 0.254 300
0.20 98,721 0.320 632 46,896 0.271 254
0.21 91,774 0.329 603 41,100 0.280 230
0.22 84,777 0.338 573 36,302 0.29 210
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Mineral resources that are not mineral reserves do not have demonstrated economic viability; however, a
reasonable prospect of eventual economic extraction pit has been used to confine the Resource Estimate
using parameters detailed in the table notes.
The QP for the Mineral Resource estimate is not aware of any environmental, permitting, legal, title,
taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the
Mineral Resource Estimate. Factors that may affect the estimates include: metal price assumptions, changes
in interpretations of mineralization geometry and continuity of mineralization zones, changes to kriging
assumptions, metallurgical recovery assumptions, operating cost assumptions, confidence in the modifying
factors, including assumptions that surface rights to allow mining infrastructure to be constructed will be
forthcoming, delays or other issues in reaching agreements with local or regulatory authorities and
stakeholders, and changes in land tenure requirements or in permitting requirement.
Zonia Resource Modelling
Data verification efforts for the Updated Resource Estimate carried out by MMTS included discussions
with World Copper personnel, personal inspection of the Project area with the collection and submission
of check samples to an external laboratory, an audit of the exploration drillhole database, and a detailed
review of additional information obtained from historical reports and information provided by the
Company. MMTS also completed checks on the geologic information as compared to the paper logs, and
checks of the assay values contained in the exploration database as compared to assay certificates provided
by World Copper.
A technical report to support the Updated Resource Estimate for the Project, prepared in accordance with
NI43-101, will be filed on SEDAR (www.sedarplus.ca) within 45 days of this news release.
Zonia Norte Exploration Potential
Building from the resource expansion from the Updated Resource Estimate, the next step and largest
potential for a new discovery at Zonia is to the north-northeast of the current open pit and resource, where
a large (2.5 x 1.5 kilometres) coincident copper -molybdenum-manganese geochemical anomaly has been
identified (Zonia Norte; Figure 2). Historical surface rock geochemical sampling has delineated a copper-
molybdenum anomaly that is spatially coincident and similar in size/shape with a broad zone of manganese
depletion consistent with typical porphyry-copper mineralization. This anomaly is situated 1.5 kilometres
to the north- northeast of the Zonia deposit, and exhibits the same pattern and size of geochemical
anomalism to that deposit. It is significant that the anomaly is open to the north where outcrops are covered
by post -mineral cover. This large geochemical footprint is interpreted to represent a second porphyry
centre. Nearby historical drill holes indicate the area is deeply weathered and copper-oxide mineralization
is present.
The Zonia Norte porphyry target was fully permitted by the previous operator and is drill -ready once the
permitting process is re -started. The drill programme will comprise 18 holes targeting copper oxide
mineralization and total over 5,000 metres (18,000 feet). Further mapping over the target and adjacent
areas is planned. High-grade historical copper occurrences (Copper Crown and others) along the north and
east edges of the Zonia Norte anomaly will be mapped and sampled as part of the ongoing target delineation
exploration programme at Zonia. These occurrences of high-grade copper have geological similarities to
volcanogenic massive sulphide and/or replacement-type deposits.
The Company remains focused on further advancing the Zonia copper oxide deposit into feasibility and
subsequently into production. The project is scheduled to commence copper cathode production within 48
months, as it benefits from a location on private land with existing power and water in Arizona, the most
World Copper Ltd. - 4 - September 9, 2024
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prolific copper state in the US . Zonia´s copper cathode production will assist in closing a portion of the
copper supply gap that is essential for a successful global energy transition.
The next corporate milestone is the commencement of a verification drill program on the leach pads (see
news release August 24, 2024). Positive results from this drill program could mean significant pre -
production cash flow for World Copper. Moving into production faster and with lower costs in the right
jurisdiction is the optimal plan in a raising copper market.
Escalones
Further to the Company issued news release on January 23, 2024 related to the Escalones copper project
(the "Escalones Project"), and the Decree of the President of the Republic of Chile, no. 34 published on
November 30th, 2023, which established additional elements to be subject of protection by the Ministry of
the Environment of the Republic of Chile in the area of Alto Maipo, where the Escalones project is located,
the Company is required to demonstrate that the project is compatible with the conservation objectives for
the Sanctuary as specified in a currently pending management plan. The management plan will be prepared
by the landowner and will be subject to approval by the Ministry of the Environment. However, it is
possible that through the management plan the Sanctuary will be recategorized as a different type of
protected area. The landowner of the property on which the Escalones Project is located has been in contact
with the Company regarding the same and The Company has been communicating with the landowner to
secure a flexible management plan , in order for the area in which the Escalones Project is located to be
categorized as a multiple-use conservation area. The Company has also been renegotiating access rights to
the Escalones Project due to the lapse of the pre-existing easement. Due to the Company's uncertainty with
respect to the foregoing developments and its lack of certainty on potential impacts on the exploration of
the Escalones Project, the Company has made the decision to write down the Escalones Project to a nominal
value in its 2024 second quarter financial statements . The Company will continue to monitor the full
regulatory and permitting impact of the Decree and the management plan on the Company's plans to
develop the Escalones Project.
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 portions of 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. Sue Bird, P.Eng., of
Moose Mountain Technical Services (“MMTS“), an independent qualified person as defined by NI 43-101,
has reviewed the scientific and technical information that forms the basis for the Zonia project portions of
this news release and has approved the disclosure herein.
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 https://worldcopperltd.com, and for general
Company updates you may follow us on our social media pages via Facebook, Twitter & LinkedIn.
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On Behalf of the Board of Directors of
WORLD COPPER LTD.
"Gordon Neal"
Gordon Neal
President & Chief Executive Officer
For further information, or to schedule a Zoom meeting with Management, please contact:
Gordon Neal or Michael Pound
Phone: 604-638-3665
E-mail: [email protected]
For all Investor Relations inquiries, please contact:
John Liviakis
Liviakis Financial Communications Inc.
Phone: 415-389-4670
For all Public Relations inquiries, please contact:
Nancy Thompson
Vorticom, Inc.
Office: 212-532-2208 | Mobile: 917-371-4053
Follow us:
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Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSX V)
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 impact of
the Decree and establishment of the Sanctuary , the results of negotiations with Gasco Inversiones regarding the
management plan and access rights to the Escalones Project , exploration plans at the Escalones Project 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 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.
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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, the estima tion 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, including with respect to the Decree and the Sanctuary, title disputes, the inability of World Copper to
obtain any necessary permits, consents, approvals or authorizations, including, without limitation, of Gasco
Inversiones, 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.
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.