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Highland Copper Announces Updated Mineral Resource Estimate for Copperwood Project
LONGUEUIL, CANADA--(Marketwired - Oct. 19, 2017) - Highland Copper Company Inc. (TSX VENTURE:HI) ("Highland" or the "Company") is pleased to announce an updated
About this update from Highland Copper Co., Inc.
[{"type":"text","content":"LONGUEUIL, CANADA--(Marketwired - Oct. 19, 2017) - Highland Copper Company Inc. (TSX VENTURE:HI) (\"Highland\" or the \"Company\") is pleased to announce an updated Mineral Resource estimate for its 100%-owned Copperwood Project located in Gogebic County, in the western Upper Peninsula of Michigan, U.S.A. (see Table 1 below). Highlights: 46% increase in Measured and Indicated Resources at 1.5 billion pounds of copper at 1% Cu cut-off grade Copper and silver resource grades largely unchanged Resource newly identified in the Upper Copper Bearing Sequence (UCBS) zone Mineralization remains open along strike and down dip; Conversion from Inferred to Indicated Resource categories was robust across the deposit The updated Mineral Resource estimate prepared by G Mining Services Inc. (\"G Mining\"), an independent Canadian mining consulting firm, represents a 46% increase in Measured and Indicated Resources compared to the previous resource estimate dated April 15th, 2015. The new resource is estimated at 42.5 million tonnes grading an average of 1.59% copper and 3.9 g/t silver containing 1.5 billion pounds of copper and 5.4 million ounces of silver in the Measured and Indicated Resource category, using a cut-off grade of 1.0% Cu. There were gains in all resource categories except in the satellite zones. This will provide a solid base for the current update to the feasibility study that is expected to be completed in the second quarter of 2018. In May, Highland retained the services of G Mining as lead consultant for the preparation of an update to the feasibility study (\"FS update\") on the Copperwood project. G Mining used the results of the 2017 drilling program to update the resource estimate that had been reported in the NI 43-101 technical report generated in 2015. The 2017 drilling program consisted of 32 HQ-diameter and three PQ-diameter drill holes for a total of 6,784 meters of core or approximately 74% of the planned 9,198 meters budgeted for the drilling program. The program was designed to upgrade the current Inferred Mineral Resources at the eastern section of the deposit, obtain metallurgical samples and carry out geotechnical studies to refine the mining plan - all of these objectives were realized. Every drill hole intersected copper-silver mineralization, as expected. The drilling provided 527 samples for copper and s...