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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

ORIGINAL: US Copper Provides Update on Superior Drill Program

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

Toronto, Ontario--(Newsfile Corp. - September 14, 2021) - US Copper Corp ("US Copper" or the "Company") (TSXV: USCU) (OTCQB: USCUF) (FSE: C730) is providing an update on the Dixie fire and its impact on the Company's activities at its Moonlight-Superior Copper Project in north-east California.

  • The evacuation orders for the Dixie Fire are slowly being lifted, but access to our Moonlight-Superior property is still restricted.
  • The Dixie fire has now burned over 950,000 acres across 6 counties and is the 2nd largest forest fire in California history.
  • This fire burned across our 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 their next project. With only a couple of months remaining in the drill season it is unlikely that our current drill contractor will return this season. Alternatives are being considered.
  • Our core shed in Crescent Mills was untouched by the fire although power was interrupted. Power is expected to be restored this week permitting us to fully resume activity.
  • Seven holes (5,872 ft) had been completed on our 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 & 7 still need to be logged, cut and sent to the lab in Reno. We expect all assays to be completed and received by late October 2021.
  • We initially planned 10-12 holes at Superior to be able to reclassify the Superior resource (60 million tonnes @ 0.41% copper as per our Technical report on Superior dated Nov 7, 2014 available on Sedar) from inferred to indicated. The 7 holes completed will allow us to only partially achieve this objective, but we will be able to quantify the gold and silver credits in the deposit that were largely ignored in assays by prior owners.

US Copper CEO Stephen Dunn commented: "We at US 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 US Copper Corp

US Copper controls approximately 13 square miles of patented and unpatented federal mining claims in the Light's Creek Copper District in Plumas County, NE California; essentially, the entire District. The District contains substantial copper (silver) sulfide 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 1915-1930 producing over 161 million pounds of copper from over 4 million tons of rock containing 2.2% copper with silver and gold credits.

The Moonlight Deposit was discovered and drilled by Placer Amex during the 1960's. Details of the resources on US 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 at www.uscoppercorp.com or on www.sedar.com under the US Copper Corp profile.

Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release.

For Further Information Contact:

Mr. Stephen Dunn, President, CEO and Director, US Copper Corp (416) 361-2827 or email info@uscoppercorp.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "hopes", "anticipates", "expected to", "plans", "planned", "intends" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96467

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