VANCOUVER, BC — September 7, 2022 — Majuba Hill Copper Corp. (CSE: JUBA / OTC: JUBAF / FWB:4NP) (“Majuba Hill Copper” or the “Company”) is pleased to report Copper Equivalent (“CuEQ”) values for the drilling completed at the Majuba Hill Porphyry Copper Project in Pershing County Nevada. CuEQ was calculated by combining Cu, Ag, Au, Mo, Pb, and Zn assay values for significant intervals that were initially determined from copper assays.
Two conclusions can be drawn from the CuEQ results.
- The copper equivalent values and the thick mineralized CuEQ intervals support the previous drilling, geophysics, and geology suggesting that thick Majuba has a very large tonnage potential that could be mined by open pit methods. CuEQ values increased the drill interval results by an average of 40% when compared to the copper-only values and make these thick intervals very significant.
- Majuba contains base and precious metals commonly associated with porphyry copper deposits.
Comparing the CuEQ results from a lower grade 0.06% copper composite model with the higher grade 0.16% copper composite demonstrates Majuba has a broad area of robust copper mineralization that starts at the surface and extends over 1450 feet below the top of Majuba Hill. Significant CuEQ intervals are shown on the tables below. Drill Hole MHB-5 and MHB-10 are particularly significant because they demonstrate the robust nature of the copper equivalent values.
MHB-5 returned 330 feet (100.6 m) of 0.45% CuEQ from 325 to 655 feet using the 0.16% Cu composite model. Using the 0.06% Cu composite model returns:
- 755 feet (262.7 m) of 0.30% CuEQ from 45 to 800 feet
MHB-10 returned four intervals using the 0.16% Cu composite model:
- 30 feet (9.1 m) of 0.34% CuEQ from 325 to 355 feet
- 55 feet (16.8 m) of 0.32% CuEQ from 400 to 455 feet
- 120 feet (36.6 m) of 0.28% CuEQ from 535 to 655 feet
- 50 feet (15.2 m) of 0.39% CuEQ from 795 to 845 feet).
Using the 0.06% Cu composite model MHB-10 returns:
- 540 feet (164.6 m) of 0.456% CuEQ from 215 to 755 feet
David Greenway, President and CEO, commented: “The copper equivalent values are very encouraging and provide another key element indicating Majuba Hill will be one of the major new porphyry copper deposits for the western United States. I look forward to getting the results from our 2022 core drilling program.”
The 2022 core program is in-progress and is focused on drilling deeper holes to expand and deepen mineralization.
CuEQ Table for 0.16% Cu Composite Model
CuEQ Table for 0.06% Cu Composite Model
CuEQ values were calculated by combining the assay values for copper, silver, gold, molybdenum, lead, and zinc across the significant copper drill intercepts for intervals composited to 0.16% Cu and 0.06% Cu. The Ag, Au, Mo, Pb, and Zn included for each significant copper intercepts were combined using an interval-weighted calculation based on metal prices taken from Kitco.com and DailyMetalPrice.com on July 27, 2022.
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 drill 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.
On Behalf of the Board of Majuba Hill Copper Corp.
David C. Greenway
President & CEO
For further information, please contact:
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.
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.