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US Copper Corp Commences Drill Program at Moonlight-Superior Copper Project
Toronto, Ontario--(Newsfile Corp. - June 8, 2023) - US Copper Corp. (TSXV: USCU) (OTCQB: USCUF) (...
About this update from Us Copper Corp
[{"type":"text","content":"US Copper Corp Commences Drill Program at Moonlight-Superior Copper ProjectToronto, Ontario--(Newsfile Corp. - June 8, 2023) - US Copper Corp. (TSXV: USCU) (OTCQB: USCUF) (FSE: C730) (\"US Copper\" or the \"Company\") is pleased to announce that drilling crews have arrived onsite to commence the 2023 exploration drill program at the Company's wholly-owned Moonlight-Superior Project, located in Plumas County, California.The Moonlight-Superior Project has a mineral resource estimate of 1.3 billion pounds of copper indicated and 1 billion pounds of copper inferred across three deposits - Moonlight, Superior and Engels. The resource estimate is contained in the National Instrument 43-101 (\"NI 43-101\") Technical Report and Resource Estimate for the Superior Project, Plumas County, California, with an effective date of November 15, 2013, available on US Copper's website and on SEDAR.The 2023 exploration drill program will focus on the Engels deposit and include 15 reverse circulation drill holes into the oxide cap that sits on top of the Engels sulfide deposit. Sample intercepts from prior drill programs at Engels reveal a high-grade copper oxide cap developed to depths greater than 230 feet (\"ft\") over an area of at least 1,000 ft by 500 ft (see news release dated March 1, 2023). The main objectives of the 2023 drill program include:Upgrading and potentially expanding the current oxide resource estimate;Providing samples for preliminary metallurgical evaluation; andProviding initial data for inclusion in a preliminary economic assessment (\"PEA\") on the Engels oxide deposit.The 2023 exploration drilling program has been designed to further delineate and define the oxide resource at the Engels Project. Based on exploration results, the Company is planning to undertake a PEA to evaluate a starter, open pit mining operation at Engels, while evaluating the potential for larger-scale mining scenarios which could see the three deposits developed into a long-life, profitable mining operation. \"In 1960, the United States (\"U.S.\") produced 35% of global mined copper. Today, the U.S. produces just 6% of global mined copper and reported a copper import reliance of 45%. In response to our current environment of rapidly growing demand and disruptive global and geopolitical issues, senior copper industry leaders have speculated publicly ab...