Vancouver, British Columbia--(Newsfile Corp. - July 24, 2024) - World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE:7LY0) ("World Copper" or the "Company") is pleased to provide the following update on corporate activities, as well as additional insights into the Company's operations over the past six months from Gordon Neal, President, Director and CEO of World Copper.
World Copper appointed Gord Neal as its CEO a little over six months ago, and it would like to properly introduce him and his work history to the Company's shareholders. Gord Neal originally began in the resource sector in 2003 as the Vice President of Corporate Development for MAG Silver (NYSE: MAG) (TSX: MAG). He left MAG after ten years to join Silvercorp Metals (NYSE: SVM) (TSX: SVM) as Vice President of Corporate Development. Gord made the decision to join Silvercorp to expand his knowledge of silver mining production, and in 2017, he was appointed as President of New Pacific Metals (NYSE: NEWP) (TSX: NUAG). Gord worked in Bolivia with New Pacific Metals for seven years and brought its Silver Sand project from discovery to a Preliminary Economic Assessment. Gord has taken pride in his work and his association with the many companies he has had the opportunity to serve, and he has been instrumental in creating significant corporate and shareholder value. All three of the abovementioned companies reached billion-dollar market cap valuations under his watch, and his plan is to produce similar results for World Copper.
Gord has been fortunate to have been handed stellar assets in the mining industry, including Juanicipio at MAG, Ying Mine at Silvercorp and Silver Sand at New Pacific. Now, he has been gifted with the Zonia copper project in Arizona.
It is well known that the world is in desperate need of more copper, primarily due to our need to mitigate the effects of climate change. We will need to produce copper faster, more economically and as environmentally friendly as possible. Oxide deposits like Zonia are the key to solving our burgeoning copper deficit. World copper plans on advancing Zonia into production as quickly as possible. Below are some salient points on why Zonia holds significant market value:
Project Highlights
Arizona is the largest copper producing jurisdiction in the United States and was ranked #7 in the 2023 Fraser Institute Annual Survey of Mining Companies for the Investment Attractiveness and Policy Perception Indices;
Zonia's copper resources are located on private land, resulting in an easier and faster permitting process than resources located on public land;
Active power lines and water wells on site;
The Zonia Project was previously operated as an open pit mine and as a past producer with a 1:1 strip ratio (which is considered in the industry to be very low and as such positively affects mine economics);
1-billion-pound copper resource (450.M lbs in M&I and 575.M lbs in Inferred);
Lower environmental impact utilizing the SX-EW process (no tailings or smelting);
Production expected to be online in 3-4 years;
50 to 70 million pounds of copper cathodes per year for 10 years;
Potential for pre-production revenue by utilizing approximately 14 million tons of previously stockpiled mineralized material on leach pads; and
The Company believes it has the potential to triple the resource size of the Zonia project by exploring its existing BLM land claims not included in the updated resource estimate.*
2024 Corporate Video and Introduction to the Zonia Mine
Significant progress has been made in moving the Zonia Project down the path to bankable feasibility and ultimately production. The Company expects to provide an update on progress at the Zonia Project via news release in the near future.
Gord Neal commented: "I will close by thanking our shareholders for their support and encouragement. In the resource sector we can only move forward with the support of our investors. I have always made myself available to all investors and at all times. If you ever have a question or inquiry, please contact me by phone or email at the information provided below."
QUALIFIED PERSONS
John Drobe, P.Geo., a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Drobe is not independent of World Copper as he is a consultant of World Copper.
Detailed information is available at World Copper's website at https://worldcopperltd.com, and for general Company updates you may follow us on our social media pages via Facebook, Twitter & LinkedIn.
For further information, or to schedule a Zoom meeting with Management, please contact: Gordon Neal or Michael Pound Phone: 604-638-3665 E-mail: info@worldcopperltd.com
For all Public Relations inquiries, please contact: Nancy Thompson Vorticom, Inc. Office: 212-532-2208 | Mobile: 917-371-4053
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
* Updated resource estimate completed by Richard A. Schwering, P.G., SME-RM of Hard Rock Consulting, LLC of Lakewood, Colorado, an independent qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), for World Copper as part of the Company's overall exploration plan for Zonia.
This news release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, the ability of the Company to advance the Zonia project and the anticipated business plans and timing of future activities of World Copper, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, requirements for additional capital, actual results of exploration activities, including on the Company's projects, the estimation or realization of mineral reserves and mineral resources, future prices of copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals (including TSX Venture Exchange acceptance), permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the timing and possible outcome of any pending litigation, environmental issues and liabilities, as well as the risk factors described in the Company's annual and quarterly management's discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company's profile at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
