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U.S. Copper Corp
Symbol USCU
Shares Issued 112,054,627
Close 2021-09-13 C$ 0.13
Recent Sedar Documents

U.S. Copper assesses fire damage at Moonlight-Superior

2021-09-14 09:32 ET - News Release

Mr. Stephen Dunn reports

U.S. COPPER PROVIDES UPDATE ON SUPERIOR DRILL PROGRAM

U.S. Copper Corp. has provided an update on the Dixie fire and its impact on the company's activities at its Moonlight-Superior copper project in northeast California.

  • The evacuation orders for the Dixie fire are slowly being lifted, but access to the Moonlight-Superior property is still restricted.
  • The Dixie fire has now burned over 950,000 acres across six counties and is the second largest forest fire in California history.
  • This fire burned across the company's entire property, but the drill rig, which remained on site, was not damaged. However, due to prior commitments, the drill contractor will be moving the rig to its next project. With only a couple of months remaining in the drill season, it is unlikely that the company's current drill contractor will return this season. Alternatives are being considered.
  • The company's core shed in Crescent Mills was untouched by the fire, although power was interrupted. Power is expected to be restored this week permitting the company to fully resume activity.
  • Seven holes (5,872 feet) had been completed on the Superior deposit up until the evacuation order of July 20, 2021. Five holes have been logged and split core sent to the lab for assay. Core from holes 6 and 7 still need to be logged, cut and sent to the lab in Reno. The company expects all assays to be completed and received by late October, 2021.
  • The company initially planned 10 to 12 holes at Superior to be able to reclassify the Superior resource (60 million tonnes at 0.41 per cent copper as per the company's technical report on Superior dated Nov. 7, 2014, available on SEDAR) from inferred to indicated. The seven holes completed will allow the company to only partially achieve this objective, but it will be able to quantify the gold and silver credits in the deposit that were largely ignored in assays by prior owners.

U.S. Copper chief executive officer Stephen Dunn commented: "We at U.S. Copper have closely watched the incredible destruction caused by the Dixie fire and wish to say to all those affected that we are very sorry for the loss and pain that many of you have endured. Our thoughts are especially with those who have lost homes and livelihoods in Greenville and surrounding areas. Also, we would like to pay homage to the dedication and outright heroism of first responders and firefighters who have kept up the fight for weeks on end."

About U.S. Copper Corp.

U.S. Copper controls approximately 13 square miles of patented and unpatented federal mining claims in the Light's Creek copper district in Plumas county, northeast California; essentially, the entire district. The district contains substantial copper (silver) sulphide and copper oxide resources in three deposits -- Moonlight, Superior and Engels, as well as several partially tested and untested exploration targets.

The Superior and Engels mines operated from about 1915 to 1930 producing over 161 million pounds of copper from over four million tons of rock containing 2.2 per cent copper with silver and gold credits.

The Moonlight deposit was discovered and drilled by Placer Amex during the 1960s. Details of the resources on U.S. Copper's property and the parameters used to calculate them can be found in the "Technical Report and Preliminary Economic Assessment for the Moonlight Deposit, Moonlight-Superior Copper Project, California, USA," dated April 12, 2018, on both the company's website or on SEDAR under the U.S. Copper profile.

George Cole is the qualified person pursuant to National Instrument 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release.

We seek Safe Harbor.

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