VANCOUVER, BC — July 26, 2023 — Majuba Hill Copper Corp. (CSE: JUBA | OTC: JUBAF | FWB:4NP) (“Majuba Hill Copper” or the “Company”) is making plans for advancing the Majuba Hill Porphyry Copper Deposit. The Company is pleased to announce that it has filed on SEDAR an independent technical report (the “Report”) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) titled “Technical Report for the Majuba Hill Copper Project, Pershing County, Nevada, USA”.
The Report was authored by Jeffrey M. Bickel, C.P.G., Senior Geologist, RESPEC Company LLC, Reno, NV (“RESPEC”). The full Report dated June 20, 2023 is available on the Company’s website and the SEDAR Issuer profile at www.sedar.com.
RESPEC evaluated the porphyry copper mineralization using a series of conceptual open-pit scenarios. The conceptual open-pit scenarios were constructed using a Whittle Pit calculation. In the report a significant footprint of copper mineralization was outlined that is within an Exploration Corridor containing favorable porphyry-copper-type geologic characteristics and robust copper mineralization.
The following table summarizes the tonnage and grade ranges for the Whittle Pits.
|Model (1)||Tonnage Range Tonnes (Bickel, 2023)||Grade Range Copper (%) (Bickel, 2023)||Copper Range (pounds) Calculated|
|Exploration Target – All||50,000,000 to 100,000,000||0.15% to 0.30%||165,000,000 to 660,000,000|
|Exploration Target – High Grade||10,000,000 to 20,000,000||0.40% to 0.80%||88,185,000 to 352,739,000|
|Conceptual open-pit scenarios for the mineralized material do not meet the test for “reasonable prospects for eventual economic extraction” with currently appropriate economic inputs, Canadian Institute of Mining, Metallurgy, and Petroleum (2014)|
“We are thrilled to announce the significant milestone achieved by Majuba Hill Copper Corp with the successful filing of our updated NI 43-101 report on SEDAR, a testament to our commitment to transparency and adherence to the highest standards in mineral project disclosure. I extend my deepest gratitude to the entire RESPEC Company team for their dedicated efforts in delivering this comprehensive report. Their expertise and unwavering support have been instrumental in shaping our path to success. Special thanks to Buster and Jefferey, whose leadership and hard work have been pivotal in driving this endeavor forward. With this milestone, we are confident in our position to seize the abundant opportunities that lie ahead in the dynamic copper market,” commented David Greenway, CEO of Majuba Hill Copper Corp.
During 2023 the Company will focus on drilling up to 4900 meters (16,000 feet) to advance and expand the copper deposit. The primary objective of the drilling is to convert the mineralization from an exploration target category into the inferred and indicated resource categories. The Company geologists have determined locations for 15 to 20 core and reverse circulation (“RC”) holes. Holes are sited to achieve four main objectives:
- Tighten up drill spacing to convert waste blocks to mineralized blocks.
- Complete additional drill holes between Whittle Pit 13 and the much larger Whittle Pit 42 to improve the grade of copper mineralization and infill areas that currently have no drillholes.
- Extend high-grade mineralization.
- Characterize the metallurgy of the oxide and enriched mineralization to aid with the economics of processing the copper mineralization.
About RESPEC Company LLC
RESPEC Company LLC stands as a prominent global leader in geosciences, data, and engineering services, specializing in exploration, mine productivity, efficiency, and safety. Renowned for its expertise, RESPEC serves as a reliable advisor, offering integrated technology solutions tailored to the specific needs of mining and mineral clients. Throughout the entire mine life cycle, RESPEC’s extensive experience and know-how prove instrumental in adding value to projects. They excel in optimizing exploration and production, elevating safety measures, improving reliability, and streamlining costs. With a proven track record of success, RESPEC emerges as a trusted partner for companies seeking to enhance their operations and achieve sustainable growth in the mining industry.
The scientific and technical information contained in this news release has been reviewed by E.L. “Buster” Hunsaker III, CPG 8137, a non-independent consulting geologist who is a “Qualified Person” as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”).
About Majuba Hill Copper Corp.
Majuba Hill Copper Corp. is engaged in the identification, review and acquisition of latter stage copper and copper/silver/gold assets. This is in direct response to the growing worldwide demand and lack of supply for precious metals fueled by the Green New Deal in the US and most other developed nations with similar programs aimed at addressing climate change. Such programs are heavily reliant on silver, gold and especially copper to produce Electric Vehicles and other renewable power sources, as well as building infrastructure to provide clean and affordable electricity.
The flagship project is the Majuba Hill copper, silver and gold District located 156 miles outside Reno, Nevada, USA. Management has been mandated to focus on safe, mining friendly jurisdictions where government regulations are supportive of mining operations.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
On Behalf of the Board of Majuba Hill Copper Corp.
David C. Greenway
President & CEO
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Forward-Looking Statements 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 Majuba Hill Copper Corp. 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 Majuba Hill Copper Corp. management on the date the statements are made. Except as required by law, Majuba Hill Copper Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.