World Copper Ltd (TSX-V:WCU, OTCQB:WCUFF) said it had confirmed key growth drivers for its recently-acquired Zonia copper project in Arizona.
An internal technical review confirmed resource expansion targets, new discovery potential and opportunity to enlarge the project.
World Copper said it had assessed Zonia's potential to host significantly more copper mineralization, and is currently working on exploration drilling targets along the southwest to northeast long-axis of the Zonia deposit and below the existing resource.
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The company highlighted a significant porphyry exploration target, Zonia Norte, to the northeast of the main resource, which has never been drilled. World Copper told investors that the target represents potential for discovery of a new deposit separate from the main resource, potentially similar in size, but within the overall Zonia land package.
Additionally, the company said that it is looking at a “compelling” surface rock sample copper and molybdenum geochemical anomaly that is coincident with a manganese low anomaly located around two kilometres north-northeast of the established resource.
The firm also plans to update the 2018 preliminary economic assessment, which reported mining methods and an economic base case based on US$3 per pound copper in order to reflect more current prices, which are hovering around the $4.40 mark.
Strong development case for Zonia
"With the Zonia project in Arizona and our flagship Escalones project in Central Chile, World Copper now controls two significantly de-risked copper oxide resources that set us apart from most junior copper exploration companies,” CEO Nolan Peterson said in a statement.
“The Zonia project in particular has established itself as a near-term project with a strong development case and timelines that synergize well with our overall strategy. Since acquiring Zonia, our team has focused in on understanding its potential to build upon its already robust economics. We will be restarting exploration and development at Zonia in the coming months, and I look forward to providing updates as our work progresses."
Headquartered in Vancouver, World Copper is focused on the exploration and development of its copper porphyry projects: Escalones and Cristal in Chile, and Zonia in Arizona.
Contact Angela at angela@proactiveinvestors.com
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