VANCOUVER, BC / ACCESSWIRE / May 8, 2019 / Universal Copper Ltd. (“Universal Copper” or the “Company”) (TSX Venture: UNV) (Frankfurt: 3TA1) is pleased to report the results of a Long Wave InfraRed (the “LWIR”) survey over the Gachala Copper Project North Block. The seven mineral license applications comprising the North Block of the Gachala Copper project lie 60 km east of Bogota, Colombia:
- The LWIR best spectral match results for chalcocite strongly suggests the main Devonian-Permian / Cretaceous contact is anomalous along much of its + 40km strike length within the North Block applications, supporting the Company’s belief this contact area is highly prospective for sedimentary copper deposits.
- Two of the license applications are contiguous to an area where historical exploration returned rock sample results ranging from 1.6 to 7.82 percent copper, further supporting the geological theory. Universal Copper cautions investors it has not yet verified any of the historical data.
“The North Block LWIR results are extremely exciting,” stated Clive Massey, Chief Executive Officer. “The strike length of the chalcocite LWIR anomaly is impressive and we plan to mobilize geological field crews to investigate the geological merit of the anomaly for sedimentary copper.” he continued.
The seven North Block mineral license applications form part of the 53,538-hectare Gachala sedimentary copper project. The Gachala project lies within a northeast trending 250km-by-120km belt of Devonian-through-Cretaceous-age rocks in a geological setting conducive to hosting sedimentary copper deposits, believed to be analogous to the Zambian copper belt of Africa (source: C. Rodriguez and A.J. Warden (1993); “Overview of some Colombian gold deposits and their development potential”; Mineralium Deposita, Vol. 28, pages 47 to 57).
Two of the seven mineral license applications comprising the 13,280-hectare North Block cover the western limb of the Anticlinal Montecristo in the area contiguous to and immediately north of the Sinai property where Rio Tinto Mining and Exploration Ltd. completed stream sediment and limited rock sampling in 1999. Rio Tinto took a total of 47 rock samples with 12 returning values in excess of 1 per cent copper, ranging from 1.6 per cent to 7.82 per cent (source: E.E. Vargas Ruiz, 1999; Exploracion Geoquimica Chivor Colombia Rio Tinto Mining and Exploration Ltd.). Another two of the license applications cover a 4-kilometre-long cobalt anomaly identified by the Colombian Geological Survey. This metal is of extreme interest to the Company as cobalt is one of the key accessory metals associated with sedimentary copper deposits. Universal Copper cautions investors that mineralization on the Sinai property is not necessarily indicative of similar mineralization on its licence applications.
(To view the full-size image, please click here)
LWIR utilizes the long wave infrared bands on the Aster Satellite to penetrate through vegetation into the top 30 to 60 centimetres of the earth’s surface. While the long wave data is readily available, the algorithms to process the data are proprietary. The survey measures the individual mineral reflectance spectroscopy of the various constituent minerals against known standards to highlight anomalies within the area surveyed. The LWIR data was interpreted by New Generation LWIR Group of Vancouver, B.C.
R. Tim Henneberry, P.Geo. (BC) and Universal Copper’s geologist, is the Qualified Person who has reviewed and approved the technical content of this news release.
Universal has entered into an asset purchase agreement (see news release April 24, 2019) with Max Resource Corp. pursuant to which the Company will acquire a 100 % interest in the seven mineral licence applications comprising the Gachala Copper Project North block.
About Universal Copper
Universal Copper Ltd. (UNV: TSX-V; FWB: 3TA1) is a Canadian-based mineral exploration company focused on the acquisition, exploration and development of mineral properties. Our objective is to build shareholder value through exploration and potential development or acquisition of existing projects with significant up-side.
For additional information regarding the above noted property and other corporate information, please visit the Company’s website at www.universalcopper.com
ON BEHALF OF THE BOARD OF DIRECTORS
Clive H. Massey
President & CEO
For further information, please contact:
Universal Copper Investor Relations
Phone: (604) 341-6870
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Tasca Resources Ltd. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Universal Copper Ltd. management on the date the statements are made. Except as required by law, Universal Copper Ltd. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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 release.
SOURCE: Universal Copper Ltd.
View source version on accesswire.com: