VANCOUVER, BC — June 23, 2023 — Majuba Hill Copper Corp. (CSE: JUBA / OTC: JUBAF / FWB:4NP) (“Majuba Hill Copper” or the “Company”) is pleased to announce the completion of a National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI43-101”) technical report dated June 20, 2023 with an effective date of March 14, 2023 and entitled “Technical Report for the Majuba Hill Copper Project, Pershing County, Nevada, USA (“Technical Report”) regarding the Company’s flagship Copper Porphyry Project.
The Technical Report was authored by Jeffrey M. Bickel, C.P.G., Senior Geologist, RESPEC Company LLC (“RESPEC”), Reno, NV. The Technical Report provides a technical summary and evaluates a conceptual Exploration Target for the copper mineralization at Majuba Hill. A copy of the Technical Report is available on the Company’s SEDAR issuer profile at www.sedar.com.
The Technical Report outlines a copper deposit with robust mineralization and geologic characteristics. The following table shows the tonnage and grade ranges for the Exploration Target.
|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|
|(1) 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)|
RESPEC reported on a series of conceptual open-pit scenarios, which under current copper prices do not meet the test for “reasonable prospects for eventual economic extraction”. They concluded that Majuba Hill has a significant footprint of known mineralization which has not been fully tested. Drilling in 2023 will concentrate around the conceptual pits to expand the Exploration Target mineralization into an inferred and indicated resource category.
Frank Port, CEO of Bridgeport Capital Inc. commented on NorthernMiner.Com, “The short list for targets looks like Taseko Mines and Centerra Gold,” he said. “Mergers will move into fifth gear by this year-end and 2024-25 will be a frenzy as the realization sets in there is a major shortage of copper. The world as we know it is about to get very expensive.”
Drilling by the Company during the past three years has provided a number of good holes with solid results, including intervals of greater than 1% copper starting from the surface.
David Greenway, CEO stated, “I am excited that we now have conceptual pits that can be advanced towards development. Having such a large Exploration Target with the added potential of 10 million tonnes to 20 million tonnes of material high grade copper is tremendous for the future of the company. This puts the Majuba Hill Copper Corp. in a rare position for a company of our size. The Exploration Corridor outlines what we believe will ultimately contain over 1 billion tonnes of copper mineralization.”
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 RESPEC Company LLC
RESPEC Company LLC is a prominent and innovative consulting firm that offers a wide range of engineering, scientific, and technical services to clients across various industries. Established in 1969, RESPEC has grown to become a trusted partner for numerous organizations seeking specialized expertise and solutions. RESPEC specializes in geological modeling, mine planning, and environmental impact assessments, helping clients optimize operations and ensure sustainable practices. They also offer cutting-edge technology solutions for resource estimation and mine optimization. With a strong track record of success, RESPEC continues to push the boundaries of engineering and consulting, contributing to the advancement of industries worldwide.
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
For further information, please contact:
VP of Corporate Communications
P: 1 (855) 475-0745
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.