Universal Copper Receives Poplar Exploration Permit for a Further Five Years

Vancouver, British Columbia, Nov. 06, 2023 (GLOBE NEWSWIRE) -- Universal Copper Ltd. ("Universal Copper" or the "Company") (TSX Venture: UNV) (Frankfurt: 3TA2) is pleased to announce the five-year renewal of its existing exploration permit on the Company’s flagship Poplar Copper Project ("Poplar"), located southwest of Houston, British Columbia.

The Company added a further 80 drill sites within its current permit area, focused on the Poplar deposit. The permit renewal allows the Company to bring a significant portion of the current inferred resource to indicated resource through infill drilling and follows up on the new Vector Geological Solutions Inc. (“Vector”) reinterpretation of the Poplar mineralization by testing new targets outside of the current resource.

The Company reports a second exploration permit for peripheral targets including the Copper Pond, southeast of the Poplar deposit, is progressing through the Notice of Work process with the British Columbia Ministry of Energy, Mines and Low Carbon Innovation. The Universal technical team has reviewed and compiled the historic geophysical, geological, geochemical and drilling information into a refined database, producing several high-quality drill targets. The Company anticipates receipt of this second permit for 50-line kilometres of ground induced polarization (“IP”) surveying and and additional 80 drill sites in 2024Q1.

Clive Massey Universal Copper’s CEO and President commented, "We are delighted to have secured the 5-year renewal of the Poplar exploration permit. Vector’s thorough review and reinterpretation of the Poplar deposit database has generated several new and exciting target areas within the Poplar mineralized footprint that are ready for drill testing and we anticipate they will significantly enhance Poplar. Our confidence in the strength of copper prices, driven by market demand, further bolsters our commitment to this endeavor."

Figure 1: Important Deposits in the Poplar Area

Click here for high resolution picture

Sources for deposits / projects in the figure:

1. Technical Report 2021 Update on the Poplar Deposit, Omineca Mining Division, British Columbia. Prepared for Universal Copper Ltd. By J. Ashton and W. Robb. Dated 2021-Sep-02.

2. Updated Technical Report and Mineral Resource Estimate on the Berg Project, British Columbia. Prepared for Serge Copper Corp. by C. Norton, J. Huang and D. Lui. Dated 2021-May-03.

2. A Mineral Resource Estimate Update for the Seel and Ox Deposits - Ootsa Property, August 2022. Prepared for Surge Copper Corp. by J.R. Stacey and J.N. Gray dated 2022-Aug-05.