World Copper Ltd (TSX-V:WCU, OTCQX:WCUFF) has unveiled drill results from the Mancha Amarilla target at its Escalones asset, which have underscored the potential to increase the resource at the project in Chile.
In a statement, the company said it has now completed 1,676 metres (m) of additional drilling along the western-most, road-accessible edge of the Mancha Amarilla zone.
"With the completion of the first phase of the drill programme we have now confirmed what initial reviews indicated - that the Escalones resource has the potential to be significantly larger than its current definition, with oxide mineralization to similar depths as the main deposit," said CEO Nolan Peterson.
"With the western edge of the Mancha Amarilla footprint defined, we now have clear targets for the next phase of drilling, aiming to increase the grade of the overall resource as we test the flanking skarn targets which exhibit some of the highest grades on the property," he added.
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At Mancha Amarilla, drilling at the first target confirmed copper oxide mineralization extends for at least 150m south from previous drilling, while oxidation extends to depths of 280m below the ridge, said the firm.
Highlight assays included a length of 49.9m in one hole starting from 73.1m depth, which hit 0.1061% copper, 0.81 parts per million (ppm) silver, and 0.005 ppm gold and 0.0005 ppm molybdenum (moly).
Another hole hit 135m from 86m depth, at 0.1544% copper, 0.82 ppm silver, 0.018 ppm gold and 0.0019 ppm moly.
Looking ahead, the company said that with over 3,000m remaining under the Escalones drill permit, it aims to restart drilling at the East Skarn target "as soon as conditions allow".
The East Skarn target overlies the Mancha Amarilla zone to the northeast of the completed drilling and has only had sparse drilling along the south edge.
Then, World Copper would aim to move to the west side of the Meseta ridge and test the depth potential of high-grade copper skarn mineralization exposed by roads on the west flank of the central Meseta intrusion, it said.
The company's Escalones copper-gold project has estimated inferred resources of 426 million tonnes of 0.367% total copper within the oxidized zone, based on nearly 25,000m of drilling.
Preliminary metallurgy indicates the 3.45 billion pounds of copper should be amenable to heap leaching with an average recovery of 71%.
A February, 2022 preliminary economic assessment (PEA) showed a post-tax net present value (NPV) of US$1,499.6 million at US$3.60 per pound of copper over a 20-year mine life.
"The exceptional results of the Escalones PEA confirm what World Copper has always anticipated - that Escalones has the potential to be one of the most impressive copper properties in South America," said the company in the statement.
Contact the author at giles@proactiveinvestors.com