VANCOUVER, BC — April 17, 2023 — Majuba Hill Copper Corp. (CSE:JUBA) (OTC:JUBAF) (FWB:4NP) (“Majuba Hill Copper” or the “Company”) is pleased to provide this update for the Majuba Hill Porphyry Copper Project in Pershing County Nevada. The encouraging copper results from the past 3 years of drilling have outlined a large copper mineralized footprint that is within the long and wide 2023 Target Corridor.
Based on the widespread copper values in recent and historic drilling the company is pleased to announce that they have engaged RESPEC Company LLC., (“RESPEC”) in Reno, Nevada to provide a compliant resource estimate and NI 43-101 report.
RESPEC is an international group that applies engineering, applied sciences and technology to natural resources. The Reno office was formerly Mineral Development Associates, a group with extensive experience in the Mineral and Exploration industry throughout Nevada and the western United States.
David Greenway, CEO stated, “I am very pleased that we have reached this stage at Majuba Hill. In just three years we have been able to advance the project to the point where completing an outside evaluation of our work and pushing towards a resource calculation is the next logical step. This work will provide a strong basis for us to be advance the Majuba Hill Project.”
Since beginning work on the project Majuba Hill Copper Corp. has completed 32,482 feet (9900.4 m) of drilling in 19 reverse circulation (“RC”) holes and 10 core holes. Much of the drilling was in core with a total of 17,402 feet (5304 m) completed which includes three deep holes drilled in 2022.
The 2022 exploration program at Majuba Hill highlighted the potential for evaluating an open pit to exploit copper mineralization.
2022 Exploration Highlights
- Porphyry veining and alteration zonation indicates the intensity of the porphyry copper mineralization is increasing towards the northeast.
- Completed initial property wide mineral inventory showing 0.5 to 1.5 billion pounds of copper equivalent mineralization in a non-compliant NI43-101 global estimate. These are not mineral resources or mineral reserves, they do not demonstrate economic viability, and the inventory of potential tons and grade has had insufficient exploration to estimate a current mineral resource.
- Calculated copper equivalent values for all drill data containing Cu, Ag, Au, Mo, Pb, and Zn values. Results highlighted thick intervals of near surface mineralization in:
- MHB-5:755 feet (262.7 m) of 0.30% CuEQ from 45 to 800 feet (13.7-243.8 m).
- MHB-10:540 feet (164.6 m) of 0.456% CuEQ from 215 to 755 feet (65.5-230.1 m).
- Collected 1050 additional soil samples which significantly increased the size of the DeSoto and the Copper Gold Target zones.
- Age Dated mineralized samples, demonstrating that Majuba Hill is a series of overlapping copper, molybdenum, tin porphyry mineralization events.
2022 Drilling Summary
Deep core holes drilled in 2022 focused on the southern portion of the Target Corridor. Significant results include:
MHB-27:1136 ft (346.3 m) @ 0.25% CuEQ starting at 710 ft (216.4 m) including:
834 ft (254.2 m) @ 0.31% CuEQ from 750 to 1584 (228.6-482.8 m).
119 ft (36.3 m) @0.14% CuEQ from 1727-1846 ft (526.4-562.7m).
MHB-28: 1287 ft (392 m) @ 0.30% CuEQ starting at 245 ft (74.7 m), including:
652 ft (198.7 m) @ 0.33% CuEQ from 595 to 1247 ft.
192 ft (58.5 m) @ 0.21% CuEQ from 1340 to 1532 ft.
105 ft (32 m) @ 0.18% CuEQ from 1542 to 1647 ft.
MHB-29: Intersected granodiorite porphyry at 3403 ft (1037 m). The entire hole is mineralized with 3607 ft (1099.4 m) @ 0.05% CuEQ from 0 to 3607 ft.
- Strong potassic alteration that is overprinted by pervasive propylitization.
- Zoning within the Majuba Target Zone indicates MHB-29 is southwest of the main mineralized zone.
- Intersected 26 intervals greater than 0.20% CuEQ.
Significant mineralization characteristics include:
- Supergene enrichment from the surface down to at least 1420 ft (432.8 m).
- Distinct porphyry style “A”, “B”, and “D” type veins in all drill holes.
- Trace element geochemistry zoning for molybdenum, zinc, and bismuth.
Quality Assurance/Quality Control (“QA/QC”) Measures, Chain of Custody
The Company has implemented a QA/QC program using best industry practices at the Majuba Hill Project. The samples are transported from the JUBA secure warehouse or directly from the drill to the ALS Sample Prep Facility in Reno or Elko, Nevada. ALS then transports the prepared pulps to their analytical lab in Reno, Nevada or Vancouver, B.C. Soil and rock chip samples are transported by the company directly to Elko or Reno, Nevada.
Drill core samples are sawn in half lengthwise and one half is placed in labeled cloth sample bags. All samples are analyzed for copper, gold, silver, and 33 other elements. Gold is determined by ALS method Au-AA23 which is a fire assay with an AAS finish on a 30-gram split. Copper, silver and the remaining 31 elements are determined by ALS method ME-ICP61 which is a four-acid digestion and ICP-AES assay. Approximately 5% of the submitted samples are duplicates and copper-gold-porphyry commercial standard reference material pulps. The sample rejects and remaining pulps will be retrieved from ALS.
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
For further information, please contact:
VP of Corporate Communications
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.