Majuba Hill Copper Corp (CSE:JUBA) has announced promising results for the ongoing National Instrument 43-101 (NI 43-101) report on the Majuba Hill Porphyry Copper Project in Pershing County, Nevada.
The report highlights the presence of a distinct 'Exploration Target' with substantial mineralization and geologic characteristics. The company intends to advance the project through its 2023 drilling program, focusing on improving tonnage and grade to move the results into an economically viable resource category.
According to RESPEC, an independent consulting firm, the Majuba Hill conceptual block model underwent evaluations based on various copper prices. However, the resulting conceptual open-pit scenarios did not meet the criteria for "reasonable prospects for eventual economic extraction" with the current economic inputs.
Nevertheless, an Exploration Target has been established, ranging from 50 million tonnes to 100 million tonnes.
The upcoming drilling in 2023 will concentrate on exploring additional high-grade copper zones, based on RESPEC's recommendations. This includes drilling in areas outside the core of the Exploration Target, testing and extending narrow, high-grade zones, and aligning drilling orientations with the geologic controls for the high-grade zones.
David Greenway, the CEO of Majuba Hill Copper expressed excitement about reaching this critical point in the development of a copper deposit within just three years. He highlighted the significance of the Exploration Target, which holds the potential for 10 million to 20 million tonnes of material with copper grades between 0.40% and 0.80%.
Greenway emphasized the company's rare position and the prospect of advancing conceptual pits toward development, ultimately targeting over 1 billion tons of copper mineralization.
Majuba Hill Copper aims to capitalize on the increasing global demand for precious metals, driven by initiatives such as the Green New Deal. With a focus on copper, silver, and gold assets, the company intends to contribute to the production of electric vehicles and renewable power sources while addressing climate change and creating clean and affordable electricity infrastructure.
The Majuba Hill copper, silver, and gold District in Nevada serves as the company's flagship project, located 156 miles outside Reno.
Contact the author at jon.hopkins@proactiveinvestors.com