Majuba Hill Copper Corp (CSE:JUBA) has reported results from a mineral inventory estimate at its Majuba Hill porphyry copper project in Pershing County, Nevada.
The property-wide inventory was conducted as an exploration guide for Majuba Hill's ongoing drilling program, the company said, noting that there has not been sufficient exploration to estimate a current mineral resource.
The copper and equivalents (CuEQ) mineral inventory outlined 491 million tons averaging 0.16% CuEQ, using a 0.06% CuEQ cutoff; 180 million tons averaging 0.28% CuEQ, using a 0.16% CuEQ cutoff; and 136 million tons averaging 0.31% CuEQ, using a 0.20% CuEQ cutoff.
READ: Majuba Hill Copper deep core drill program finishes two holes at Nevada porphyry copper project
Meanwhile, the copper-only inventory outlined 193 million tons averaging 0.13% copper, using a 0.06% cutoff; 44 million tons averaging 0.24% copper, using a 0.16% cutoff; and 27 million tons averaging 0.28% copper, using a 0.20% cutoff.
"This mineral potential estimation indicates that results from the current drilling and future drill holes will lead to a 3x to 5x increase in the tonnage,” said Buster Hunsaker, consulting geologist and member of Majuba’s advisory board. “…Utilizing these results will help guide and focus our drilling to expand mineralization at Majuba and evaluate the economic potential."
The inventory was done using GeoSoft 3D software on all drill assays through 2021 and all historic drill assays (92 holes total) to assign CuEQ and copper parts per million values to three-dimensional points known as voxels.
"I am very encouraged,” CEO David Greenway said. “This global mineral inventory indicates that Majuba Hill has the potential we expected to grow into the next large scale copper deposit in the Western United States."
Majuba Hill Copper 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, the company has said.
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