Majuba Hill Copper Corp (CSE:JUBA) has announced the completion of a NI43-101 technical report for its flagship Copper Porphyry Project.
The report, titled 'Technical Report for the Majuba Hill Copper Project, Pershing County, Nevada, USA,' was authored by Jeffrey M. Bickel, a senior geologist from RESPEC Company LLC in Reno, Nevada.
According to the report, Majuba Hill possesses a copper deposit with strong mineralization and favorable geologic characteristics.
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.
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.
In a statement, David Greenway, CEO commented: “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.”
Majuba Hill Copper is focused on identifying and acquiring later-stage copper and precious metals assets. The company aims to meet the growing demand for precious metals driven by initiatives like the Green New Deal, which require silver, gold, and copper for electric vehicles, renewable energy sources, and infrastructure development.
Contact the author at jon.hopkins@proactiveinvestors.com