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Brixton Metals Releases Additional High-Grade Gold Assays From its Exciting Trapper Gold Target on its Wholly Owned Thorn Project
Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the “Company” or “Brixton”) is pleased to announce additional 2024 drill results from the Trapper Gold Target at its wholly owned Thorn Project. The project is located in Northwest British Columbia, 90km east of Juneau, Alaska.
Highlights
- Hole THN24-308 yielded 61.95m of 1.02 g/t Au from 184.75m depth within 77.25m of 0.9 g/t Au
- Including 9.25m of 4.79 g/t Au
- Including 2.25m of 18.50 g/t Au
- Hole THN24-309 yielded 28.00m of 0.70 g/t Au
- Including 6.00m of 1.24 g/t Au
- Gold occurs as native gold and is associated with base metal veins as galena, sphalerite, chalcopyrite, quartz-carbonate and pyrite
“We’re pleased with the recent drill results which reveal encouraging gold grades and align well with our exploration model,” stated Vice President of Exploration, Christina Anstey. “These results strengthen our understanding of the mineralization in the area and support our strategy to unlock further potential through continued drilling.”
Figure 1. Gold Geochemistry and Trapper Target Location Map.
Table 1. Select Mineralized Intervals for the Trapper Target Drilling.
All assay values are uncut weighted averages and intervals reflect drilled lengths as further drilling is required to determine the true widths of the mineralization.
Discussion
The 2024 drill campaign at the Trapper Gold Target totaled 2,745.60m of drilling across 11 HQ-sized diamond drill holes of which 762.00m are covered in this release. The program was designed to test the extents and continuity of the main mineralized corridor along the Lawless Fault zone through a combination of infill and step-out drilling. Additional step-out drilling was completed north of the main zone, following-up on undercover mineralized zones that were identified during the 2023 drill program. Drilling was planned through a combination of mapping, oriented core data analysis, geophysics, and soil geochemistry. Additional assays from the 2024 drill campaign will be released as they become available.
Figure 2. Planview Map with Collar Locations and Gold Drill Traces at the Trapper Target.
THN24-308 and THN24-309 were drilled from the same pad location and planned as infill to assess grade continuity between previously released holes THN22-251 and THN22-239 from the 2022 drill campaign. Both holes were successful in intercepting broad intervals of near surface gold mineralization. Hole 308 was drilled at an azimuth of 025 degrees and dip of -46 degrees to a final depth of 353.00m returning 313.00m of 0.44 g/t Au including 61.95m of 1.02 g/t Au and including 9.25m of 4.79 g/t Au. Hole 309 was drilled at a steepened angle below hole 309 at an azimuth of 025 degrees and a dip of -65 degrees to a final depth of 255.00m. Hole 309 returned 156.00m of 0.24 g/t Au including 28.00m of 0.70 g/t Au and including 6.00m of 1.24 g/t Au.
THN24-306 was drilled at an azimuth of 000 degrees and dip of -65 degrees to a final depth of 154.00m and was drilled from the same pad location as previously released hole THN24-304 testing a steeper inclination. The holes were planned as southeastern step-outs along the Lawless Fault to determine the extents of mineralization. Although THN24-304 returned 227.50m of 0.50 g/t Au including 27.00m of 3.49 g/t Au, no significant assays were intercepted in hole 306 which drilled into the footwall of the Lawless Fault at 65m depth. However, based on the broad gold intervals intercepted in hole 304 the potential for future extension to the east remains open along the hanging wall of the main mineralizing structure.
Gold mineralization at Trapper is structurally controlled along the Lawless Fault, trending northwest-southeast and dipping moderately to the north in the main drilling area. There are multiple CVG features (see news release dated October 10th, 2024) that could reflect similar parallel structures to the Lawless Fault which remain open to test for new gold potential. Mineralization appears to favour the contact between the Cretaceous (85.2 +/- 1.2Ma) quartz diorite and the Triassic lapilli tuffs with broad gold intervals largely hosted along the faulted contact. The gold is associated with silver and base metal veins containing pyrite-galena-sphalerite +/- chalcopyrite +/- bornite, which occur conjugate to the Lawless Fault. Through a combination of oriented core drilling, surface mapping, geochemistry and geophysics, the aim is to achieve predictability of the gold-bearing zones. The current drilling at the Trapper Target is located 7km southeast from the Camp Creek Copper Porphyry Target. At surface, the Trapper Target is expressed as a 4km northwest trending gold and zinc soil geochemical anomaly which is part of the larger 11km gold geochemical anomaly trending from Camp Creek to the Trapper Target. Future drilling at the Trapper Target will focus on identifying new zones of gold-bearing mineralization undercover within the footprint of this larger gold geochemical anomaly.
Figure 3. Visible Gold Photographs of THN24-308.
Drilling Information
Table 2. Drill Collar and Hole Information of Current News Release.
About the Trapper Gold Target
The geochemical footprint for the Trapper Gold Target was expanded in 2021 to 4km by 1.5km with a gold-in-soil geochemical signature that has a strong positive correlation to zinc and lead. The Trapper Target represents an intermediate-sulphidation epithermal system hosted in volcanic and intrusive rocks. The volcanics are Triassic Stuhini lapilli tuff, while the intrusive phase is a Cretaceous quartz diorite dated at 85.2Ma +- 1.2Ma. Visible gold has been identified in both drill core and surface outcrops across the Trapper Target area and rock grab samples have returned up to 152 g/t Au. Visible gold is recognized in several environments: within base metal veins (sphalerite-galena-pyrite-chalcopyrite), quartz-stockwork, sulphosalt-pyrite veinlets, and rarely disseminated gold in the diorite. In 2021, 2022 and 2023, Brixton drilled 3,107m, 9,119m and 6,625m, respectively. In 2011, forty-two drill holes were completed by a previous operator. The Trapper Target is royalty free.
Quality Assurance & Quality Control
Quality assurance and quality control protocols for drill core sampling were developed by Brixton. Core samples were mostly taken at 1.0m intervals. Blank, duplicate (lab pulp) and certified reference materials were inserted into the sample stream for at least every 20 drill core samples. Core samples were cut in half, bagged, zip-tied and sent directly to ALS Minerals preparation facility in Langley, British Columbia. ALS Minerals Laboratories is registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures. Samples were analyzed at ALS Laboratory Facilities in North Vancouver, British Columbia for gold by fire assay with an atomic absorption finish, whereas Ag, Pb, Cu and Zn and 48 additional elements were analyzed using four acid digestion with an ICP-MS finish. Over limits for gold were analyzed using fire assay and gravimetric finish. The standards, certified reference materials, were acquired from CDN Resource Laboratories Ltd., of Langley, British Columbia and the standards inserted varied depending on the type and abundance of mineralization visually observed in the primary sample. Blank material used consisted of non-mineralized siliceous landscaping rock. A copy of the QAQC protocols can be viewed at the Company’s website.
About the Thorn Project
The wholly-owned 2,945 square kilometer Thorn Project is located in British Columbia, Canada, approximately 90 km east of Juneau, AK. The southern limit of the Thorn claim boundary is roughly 50 km from tide water. The Thorn Project hosts a district-scale 80km megatrend of Triassic to Eocene, volcano-plutonic complex with several styles of mineralization related to porphyry and epithermal environments. Many large-scale copper-gold targets have been identified for further exploration work. Information on each of the targets may be found at the following link: https://brixtonmetals.com/thorn-gold-copper-silver-project/
Qualified Person
Mr. Corey A. James, P.Geo., is a Senior Project Geologist for the company and a qualified person as defined by National Instrument 43-101. Mr. James has verified the data disclosed in this press release, including the sampling, analytical and test data underlying the technical information and has approved this press release.
About Brixton Metals Corporation
Brixton Metals is a Canadian exploration company focused on the advancement of its mining projects. Brixton wholly owns four exploration projects: Brixton’s flagship Thorn copper-gold-silver-molybdenum Project, the Hog Heaven copper-silver-gold Project in NW Montana, USA, which is optioned to Ivanhoe Electric Inc., the Langis-HudBay silver-cobalt-nickel Project in Ontario and the Atlin Goldfields Project located in northwest BC which is optioned to Eldorado Gold Corporation. Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB, and on the OTCQB under the ticker symbol BBBXF. For more information about Brixton, please visit our website at www.brixtonmetals.com.
On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
For Investor Relations inquiries please contact: Mr. Michael Rapsch, Senior Manager, Investor Relations. email: michael.rapsch@brixtonmetals.com or call Tel: 604-630-9707
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Brixton Metals
Overview
Brixton Metals Corporation (TSXV:BBB) is a precious metals exploration and development company focused on advancing its wholly-owned projects toward mine development. The company was listed in December of 2010 and now wholly-owns four gold–silver–copper assets in mine-friendly jurisdictions across North America, including the Atlin and Thorn projects in British Columbia, the Langis-Hudson Bay projects in Ontario and the Hog Heaven project in Montana. The company is currently seeking JV partners for one of its projects.
Brixton Metals, as of Q1 2020, now has over $5.5 million in cash to further advance its properties. The company is backed by a number of industry investors, including Eric Sprott, Rob McEwen, US Global, Gold 2000, Pan American Silver (TSX:PAAS,NASDAQ:PAAS) and Hecla Mining (NYSE:HL).
Brixton Metals’ Company Highlights
- An experienced management team with a proven track record of building companies.
- Well-positioned for a sector recovery with four high impact gold-silver and base metal projects in stable jurisdictions.
- Drilling at the Atlin Goldfields project returned up to 5.57m of 509.96 g/t gold. The Yellowjacket target hosts a non-NI-43-101 compliant estimate of 453,500t at 10.26 g/t gold
- Drilling at the Thorn gold-copper-silver project in the Golden Triangle of British Columbia, Canada returned up to 95 meters of 1.71 g/t gold, 628 g/t silver from surface and 554 meters of 2 g/t gold equivalent from 100 meters depth. In 2019 two new porphyrys were discovered.
- Drilling at the Langis-Hudson Bay silver-cobalt project in Ontario returned 6.00 meters of 4,719.33 g/t silver and 0.33 percent cobalt.
- Historic drilling at the Hog Heaven project returned 12 meters of 6 g/t gold, 1,088 g/t silver, 6.5 percent copper. The Hog Heaven hosts a non-NI-43-101 compliant estimate of 47Moz silver and 0.23Moz gold. Hog Heaven is a near term development opportunity.
Gianni Kovacevic: 3 Copper Stocks for Speculators, Watch These Metals Under Trump
Investor and author Gianni Kovacevic shared his thoughts on copper market dynamics, saying that while the long-term trend is up, speculators can create significant shorter-term prices moves.
He also mentioned three copper companies he's interested in right now: CopperNico Metals (TSX:COPR,OTCQB:CPPMF), Entree Resources (TSX:ETG,OTCQB:ERLFF) and Horizon Copper (TSXV:HCU,OTCQX:HNCUF).
In addition to copper, Kovacevic spoke about the growing opportunity he sees in lithium, highlighting how major miners like Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) are increasing their exposure to this important battery metal.
"We are going to have a supply shortage. Not in the distant future — in the next 18 to 36 months it'll be a front-page story, and it will be dovetailed with ... oil and gas. And with that comes the oil and gas investor," he said.
Explaining his view, Kovacevic said oil and gas companies are becoming interested in direct lithium extraction.
"(The oil and gas investors) are the ones that are going to really take the speculation in lithium to the next level once again. It'll be 'lithium mania 3.0' coming to a screen near you," he told the Investing News Network.
Watch the interview above for more from Kovacevic on copper and lithium, as well as Donald Trump's second term.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
5 Best-performing Copper Stocks on the TSX in 2024
Copper prices surged in 2024, breaking the US$5.00 per pound barrier for the first time and setting an all-time high on the COMEX of US$5.20 per pound on May 20.
Prices have since retreated but have largely traded above the US$4.00 per pound mark and above the average price of US$3.83 per pound in 2023.
Copper demand remained high in energy transition sectors. However, it was also affected by bottlenecks at Chinese smelters, which cut production during the first half of the year due to low treatment charges.
Against that backdrop, how have TSX-listed copper companies performed? Learn about the top five best-performing copper stocks in 2024 by year-to-date gains below. Data for this article was retrieved on December 16, 2024, using TradingView's stock screener, and only companies with market capitalizations greater than C$50 million are included.
1. Trilogy Metals (TSX:TMQ)
Year-to-date gain: 189.29 percent
Market cap: C$259.05 million
Share price: C$1.62
Trilogy Metals is a polymetallic exploration and development company working to advance its Upper Kobuk mineral projects in Northern Alaska, US, which it owns in a 50/50 joint venture with South32( ASX:S32,OTC Pink:SHTLF).
Its most advanced asset is the Arctic copper, zinc, lead, gold and silver project, which is in the feasibility stage. In an updated feasibility study from February 2023, the company reported annual payable production volumes of 148.68 million pounds of copper, 172.6 million pounds of zinc, 25.75 million pounds of lead, 32,538 ounces of gold and 2.77 million ounces of silver.
After tax, the study pegged the net present value at US$1.11 billion, with an internal rate of return of 22.8 percent and a payback period of 3.1 years.
Trilogy’s other key asset is the Bornite copper-cobalt project located 25 kilometers southwest of its Arctic project. The site hosts widespread mineralization and has seen historic exploration dating back to the 1950s. A January 2023 technical report estimates inferred resources at 6.51 billion pounds of copper from 202.7 million metric tons of ore with an average grade of 1.46 percent.
The company has spent much of this year advancing roadwork to provide access to its projects, but it has met some headwinds while working with the US Bureau of Land Management (BLM). In an April 22 update, Trilogy said that the BLM filed the final supplemental environmental impact statement, which identified “no action” as the preferred alternative. This move effectively blocks the construction of the access road.
Trilogy said it would review the final impact statement, consider options and determine the next steps. For its part, the BLM formally rejected the proposed access route in its June record of decision, but presented several alternatives that have lessened impact on BLM managed lands.
The company’s most recent news came on October 8, when Trilogy released its Q3 results.
Shares in Trilogy reached a year-to-date high of C$1.89 on November 22.
2. Northern Dynasty Minerals (TSX:NDM)
Year-to-date gain: 75.9 percent
Market cap: C$387.16 million
Share price: C$0.73
Northern Dynasty Minerals is an exploration and development company focused on the Pebble project, a copper-molybdenum-gold-silver project located 200 miles southwest of Anchorage in the Bristol Bay region of Alaska, US.
Northern Dynasty describes the site as “one of the greatest stores of mineral wealth ever discovered.” It hosts measured and indicated copper resources of 6.5 billion metric tons and inferred copper resources of 4.5 billion metric tons. Its measured and indicated resources for molybdenum, gold and silver total 1.26 million metric tons, 53.82 million ounces and 249.3 million ounces respectively.
The project stalled in 2020 during the permitting phase following a US Environmental Protection Agency (EPA) veto that suggested the proposed mine would damage the Bristol Bay watershed. However, shares of the company surged following Northern Dynasty's July 2023 announcement that the State of Alaska had appealed to the US Supreme Court to reverse the veto.
Earlier in 2024, the United States Supreme Court declined to hear the matter on procedural grounds, sending it back to the federal district court and federal circuit of appeals before the Supreme Court would hear it. In a release on January 16, Northern Dynasty said it was still working through state court.
Further updates on the case came on March 15, when the company said it had filed two separate actions to vacate the EPA’s veto, and on April 15, when the State of Alaska filed its own suit to vacate it. On June 26, the company reported that two Alaska native village corporations had also filed suits to overturn the EPA ruling.
The most recent news about the case came on August 19, when the Federal District Court in Alaska granted Northern Dynasty’s motion to modify the complaint against the EPA by adding the US Army Corps of Engineers (USACE) as a defendant. This request was made because Northern Dynasty said the EPA decision was based on the original USACE permit denial and should be linked. The company also said that it believes the actions taken by the EPA and USACE were wrongful and politically motivated.
Shares in Northern Dynasty reached a year-to-date high of C$0.76 on December 11.
3. NGEX Minerals (TSX:NGEX)
Year-to-date gain: 74.45 percent
Market cap: C$2.64 billion
Share price: C$12.63
NGEx Minerals, part of the Lundin Group, is a copper and gold exploration company focused on developing projects in Argentina and Chile. Its primary focus is the Los Helados and Lunahuasi (formerly Potro Cliffs) projects, both located within the Vicuña copper-gold district on the border of Argentina and Chile. The district is controlled by companies within the Lundin Group.
In December 2023, the company released an updated mineral resource estimate for Los Haldos, with indicated resources of 6.3 billion pounds of copper from 510 million metric tons of ore with an average grade of 0.51 percent. The estimate also included additional inferred resources of 600 million pounds of copper from 40 million metric tons of ore with an average grade of 0.62 percent.
NGEx shares have traded alongside rising copper and precious metal prices throughout the year, but several events have also significantly supported the company.
On February 20, the company announced it had received approval to begin trading on the TSX. At the time, company president Wojtek Wodzicki said the graduation marked a milestone for NGEx and would provide greater visibility and better access to fundraising opportunities.
The company's August 12 Q2 results further supported its shares. In the release, the company said it had completed a successful drill program at Lunahuasi, drilling 15 holes totalling 12,952 meters and noting that the system remained open in all directions.
It also indicated that the program returned several high-grade intersections, with one highlight measuring 2.31 percent copper equivalent over 429.4 meters, including an intersection measuring 4.26 percent copper equivalent over 102.7 meters.
The company said the results demonstrate significant size potential with high-grade mineralization occurring over an area of 900 by 400 meters and to depths of 960 meters.
The most recent news came on November 12, when NGEx released its Q3 results. In the report, the company said it had started the phase 3 drill program at Lunahuasi, with six rigs in operation and 20,000 meters planned. The program aims to grow the deposit via step-out drilling.
4. First Quantum Minerals (TSX:FM)
Year-to-date gain: 71.90 percent
Market cap: C$16.18 billion
Share price: C$18.60
First Quantum Minerals is a copper mining and development company with a global portfolio of assets.
Its primary asset is the Cobre Panama mine, located west of Panama City, Panama. The mine boasts 3 billion metric tons of proven and probable reserves and represents 1 percent of the world’s copper supply. The mine was ordered to close down in November 2023 after the Panamanian Supreme Court invalidated an extension to the mine's license.
In a December 2023 release, the company said it was working on developing a closure plan for the mine; however, it also noted that it was pursuing all appropriate legal avenues to protect its investment and rights.
In its Q1 results, released on April 24, First Quantum said it was continuing to work on a preservation and safe management plan for Cobre Panama and was also working to deliver the 121,000 metric tons of concentrate that remains on site.
Due to the ongoing situation in Panama, the company noted that it had undergone a refinancing program to improve its balance sheet and liquidity. This program included working out a prepayment agreement with Jiangxi Copper (SHA:600362,HKEX:0358) for US$500 million, the completion of a US$1.6 billion senior secured second lien at 9.38 percent due in 2029 and the issuance of 139.93 million common shares to raise US$1.15 billion.
The company also operates several mines in Zambia, including its Kansanshi copper-gold mine, Sentinel copper mine, and Enterprise nickel mine. Earlier in the year, First Quantum warned that production may be impacted in 2024 due to severe drought conditions caused by El Nino, which has reduced water levels in the Kafue and Zambezi rivers. The government declared a national emergency in March, and power generation in the country has been impacted.
First Quantum reported that it had minimized power disruptions due to offtake agreements signed with third-party traders for power sourced from the Southern African Power Pool. Due to increased power curtailments since the Q1 release, the company has had to increase the amount of power sourced from regional sources to 193 megawatts from the original 80 megawatts.
In the company’s third quarter results, First Quantum reported the production of 116,088 metric tons of copper, 11 percent higher than in Q2 but down from 221,550 metric tons produced in Q3 2023. The production drop was largely attributed to the closure of Cobre Panama, which contributed 112,734 metric tons during the quarter last year.
Cash costs came in at US$1.57 per pound during Q3, US$0.16 lower than the previous quarter. While the power deals pushed cash costs higher, the company mitigated costs through gold by-product credits during Q3, as well as higher copper production and lower fuel costs.
Both Kansanshi and Sentinel reported increased copper production during Q3. Kansanshi saw its highest levels since Q4 2021 with 49,810 metric tons, while Sentinel recorded copper production of 58,412 metric tons, an increase of 4,817 metric tons over Q2.
Shares of First Quantum reached a year-to-date high of C$20.70 on December 5.
5. Hudbay Minerals (TSX:HBM)
Year-to-date gain: 68.46 percent
Market cap: C$4.86 billion
Share price: C$12.23
Hudbay Minerals is a copper production and development company with producing mines in Peru and Canada. It also has projects in Peru and in the US.
According to Hudbay’s Q3 results, the Constancia copper mine and neighboring Pampacancha satellite pit in Peru produced a combined 21,220 metric tons of copper in the three months ending on September 30, an increase over the 19,217 MT produced in the previous quarter.
In Canada, Hudbay’s 75 percent-owned Copper Mountain mine in British Columbia produced 6,736 metric tons of copper, and its wholly owned Snow Lake operations in Manitoba achieved record results in the quarter. The operation produced 3,398 metric tons of copper, a 29 percent increase over Q2, when wildfires in the region impacted production. Both mines also produce gold and silver, and Snow Lake also produces zinc.
In addition to its mining assets, the company is advancing its Copper World project in Arizona, US. In its report for the first quarter, the company indicates that it is continuing to work on getting final state permits for the site and expects to receive them sometime in 2024. When complete, Copper World is expected to have a 20 year life.
According to a March 28 annual reserve and resource update, Copper World holds proven and probable average reserves of 385 million metric tons of ore grading 0.54 percent copper.
In an August 29 release, Hudbay announced it had received an aquifer protection permit from the Arizona Department of Environmental Quality. The company said the permit marks a key milestone and brings the project one step closer to being fully permitted.
The company is also working on its Mason project in Nevada, US. Hudbay is developing Mason as a long-term future asset with a 27 year mine life. A resource estimate shows measured and indicated resources of 2.22 billion metric tons at an average grade of 0.29 percent copper, and inferred resources of 237 million metric tons averaging 0.24 percent copper.
On May 24, Hudbay announced the completion of an upsized bought-deal offering, generating aggregate gross proceeds of US$402.5 million. The company said it intends to use the funds for near-term growth initiatives such as mill optimization at Copper Mountain.
Shares of Hudbay reached a year-to-date high of C$14.15 on May 20.
FAQs for investing in copper
Is copper a good investment in 2024?
Many experts have a positive long-term outlook for the red metal based on supply concerns and its growing role in the energy transition. Copper's price has climbed to new all time highs in 2024, bringing many stocks with it.
Investors who are interested in copper should make sure to perform their due diligence, as the volatility and unpredictability of markets and economies at the moment means that nothing is guaranteed.
What is copper used for?
Copper is used in many industries, from construction to electronics to medical equipment. In fact, in 2020, 32 percent of copper globally was used in equipment manufacturing and 28 percent in building construction.
Two other growing sectors for copper are the burgeoning electric vehicle and green energy industries. Electric vehicles require a significant amount of the red metal per vehicle.
How to invest in copper?
Investors can get exposure to copper in a variety of ways. Holding physical copper is possible, but plenty of storage would be required to hold any significant value of the metal.
For investors looking to invest in the metal without physically holding it, there are a few options. Copper stocks such as those on the TSX, TSXV and ASX are worth looking at. Additionally, there are copper exchange-traded funds and the copper options and futures markets on the London Metal Exchange.
How to invest in a copper ETF?
Copper exchange-traded funds (ETFs) can be a good way to diversify an investment portfolio, and they can be a more stable option compared to individual copper miners or explorers. There are multiple options available on the market, and they can usually be purchased in the same way one could purchase stocks through a broker or trading platform.
In May 2022, Horizons launched Canada’s first copper equities ETF, the Horizons Copper Producers Index ETF (TSX:COPP), which is focused solely on pure-play and diversified copper-mining companies.
There are two ETFs available on the US ARCA exchange as well. The Global X Copper Miners ETF (ARCA:COPX) tracks the Solactive Global Copper Miners Index, which includes copper miners, as well as copper explorers and developers. The other option is the United States Copper Index Fund (ARCA:CPER), which gives investors exposure to copper futures contracts by tracking the SummerHaven Copper Index Total Return (INDEXNYSEGIS:SCITR).
How is copper priced?
The copper price is tracked in two ways: COMEX copper and London Metal Exchange (LME) copper. The COMEX and LME are both options and futures metal exchanges, with the former being headquartered in New York and the latter in London. COMEX copper is priced by the pound, while LME copper is priced per metric ton.
How is copper processed?
Once copper is mined, the ore goes through multiple steps to reach a market-ready state. First, the ore is ground to roughly separate the rock from the copper, as copper typically only makes up 1 percent of the mined rock.
The resultant copper is then slurried with water and chemical reagents, after which air is used to float the copper to the top of the mixture. After the copper is removed from this, it is typically at 24 to 40 percent purity.
Lastly, the copper is refined at a refining plant or smelter using one of two methods, pyrometallurgy and hydrometallurgy. Pyrometallurgy is employed for copper ore that is sulfide rich, while hydrometallurgy is used when the ore is oxide rich. The Investing News Network's guide on copper refining goes into further detail about how those processes work. Once these processes are complete, the copper is concentrated to up to 99.99 percent purity.
Where is copper mined?
Copper is mined throughout the world, with significant production found on every continent besides Antarctica. Chile was the top producer in 2022, putting out 5 million metric tons of the metal. Rounding out the top five are Peru with 2.6 million MT, the Democratic Republic of Congo with 2.5 million MT, China with 1.7 million MT and the United States with 1.1 million MT.
Article by Dean Belder; FAQs by Lauren Kelly.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Dean Belder, own shares in Northern Dynasty Minerals.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
VVC Resources
Investor Insight
With a growing list of natural resources assets vital to growing global demand in the healthcare and technology sectors, VVC Resources presents an investment opportunity for investors looking to diversify their portfolios.
Overview
The global helium market is expected to increase from $4.45 billion in 2022 to $5.03 billion in 2023 at a compound annual growth rate of 12.9 percent driven by the growing demand for helium from the healthcare industry. Helium is important in medicine because this rare element is used in various ways, one of which is as a refrigerant capable of cooling the superconducting magnets in MRI scanners. This non-reactive, non-corrosive, non-flammable noble gas is not only used in diagnosis equipment but also as an adjunct therapy for certain diseases like COPD, asthma and bronchiolitis.
Although helium is the second most common element on earth, global helium supplies are running low. Resource companies that supply industries dependent on helium should explore potential helium reserves and evaluate data to come up with a unique strategy for increasing helium production.
VVC Resources (TSXV:VVC;OTCQB:VVCVF) engages in the exploration, development and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel and the expanding green economy.
The company’s portfolio includes a diverse set of assets and high-growth projects, comprising: helium and industrial gas production in the western US; copper and associated metals operations in northern Mexico; and strategic investments in carbon sequestration and other green energy technologies.
VVC currently targets helium reserves in the US by reactivating old gas wells and drilling new wells. In January 2022, the company engaged Foreland Operating to manage the day-to-day helium operations going forward. In March 2022, VVC announced the successful completion and connection of its first helium well in the Syracuse Project. The well, known as the Levens #2, was connected to Tumbleweed Midstream’s Ladder Creek Pipeline, which transports gas to the Ladder Creek Helium Processing Plant in Cheyenne Wells, Colorado. VVC further confirmed the presence of helium up to 1.14 percent from its second drilled well in the Syracuse Project.
VVC also acquired the Monarch Project to further capitalize on the growing demand for helium due to increased global usage. The Monarch Project consists of more than 1,700 acres of gas leases located in Greely County, Kansas with six existing wells. Minor repairs were made to five of the six wells, restoring electric power service, and began generating revenue from the natural gas and helium at low volumes. The focus of this project is the 14 additional potential well locations which are conveniently located for connection to the Tumbleweed pipeline.
VVC’s helium portfolio reached another significant milestone with the installation of 14 miles of its internal gathering system pipeline in the Syracuse Project. The major infrastructure will seamlessly transport gas produced by the company’s helium and natural gas wells to a nearby processing plant. The milestone increases the pipeline’s length from 7 to 14 miles and the project’s capacity from 50 to 100 wells.
VVC is advancing its Gloria copper property in Mexico towards production. The 4,055-acre Gloria property is situated in the northern part of Mexico’s Chihuahua state in the Sierra Madre region 60 kilometers southwest of El Paso, Texas. The project is also supported by infrastructure including an access road and an available mining workforce.
VVC Exploration is led by a management team with a wealth of mining experience and is supported by a board of directors with significant influence in both the mining and financial industries. The management and board are also notably invested in the company, with the CEO, members of management and the board of directors listed as top investors. As a whole, the company has a tight share structure with over 90 million shares held by the top 25 investors.
Company Highlights
Helium, Natural Gas & Other Industrial Gases
- A growing portfolio of helium and NG projects with the acquisition of Plateau Helium, currently comprising 69 leases covering 16,400 acres known as the Syracuse Kansas project, 1,600 acres in the Monarch property, Stockholm project (3,000 acres), Johnson-Moore project (6,000 acres), LF project (5,000 acres) and State Line project (6,000 acres).
- The Colorado project, located in Eastern, Colorado, comprises 23,000 acres of gas leases and leasing continuing, with a total of 26 historical wells that were previously drilled flowing gas that tested helium above 3 percent.
- Six wells connected and producing, two ready to complete in the Syracuse KS project (as of December 2024).
- One well drilled and completed, producing into tanks in the Stockholm KS project. Connection line to processing plant in process. Helium, natural gas and oil sales expected in January 2025, additional well sites identified (as of December 2024).
- The initial well of the Kansas Oil project has begun producing. The company is currently in the planning phase for additional wells in the area.
- Installed 14 miles of internal gathering system pipeline to transport helium and natural gas wells to a nearby processing facility.
- Installed a 15-mile water disposal system.
Copper, Base & Precious Metals
- VVC’s near-production Gloria copper property, located in Mexico, has an indicated copper resource of 59.4 million pounds and 89.33 million pounds of inferred copper.
Strategic Investments
Energy Transition & Carbon Capture
- Strategic investment in Proton Green as part of its carbon capture venture. Proton Green’s focus project, the St. John’s Field, contains 33 billion cubic feet of helium and the ability to inject up to 22 million metric tons of CO2 per year at its primary basin
- Helium production began August 30, 2023.
- Food grade CO2 production is expected to begin in 2025.
Helium & Natural Gas
- Strategic investment in the PHC South Africa project, located in the Free State, Republic of South Africa East of Welcome and South of Kroonstad 147 miles southwest of Johannesburg (152,000 acres).
Key Projects
Helium Portfolio
As of Dec 2024
Plateau Helium Corporation
In January 2021, VVC Exploration acquired Plateau Helium Corporation (PHC), a Wyoming Corporation focused on helium exploration and development, primarily in the western US. PHC’s initial target project is located in Kansas and currently comprises 69 leases covering 16,371 acres known as the Syracuse Helium Project.
Plateau Helium Corporation engaged Foreland Operating to manage the company’s helium production. Foreland Operating is a Texas-based upstream oil and gas operating company with a long-tenured team that has been operating in many of the premiere US basins including the Barnett Shale, the Marcellus Shale and the Permian Basin.
Syracuse
Syracuse is VVC’s helium project with 16,400 acres of contiguous oil and gas leases. The company has identified 16 identified well sites in the area with internal estimates of a future resource of 75 Bcf of gas. Currently, Syracuse has 22 well sites permitted or currently being permitted, each with the potential to produce over 1 billion cubic feet of gas.
In 2022, the company announced it successfully completed and connected its first helium well to the project. The well is known as the Levens #2 and was connected to Tumbleweed Midstream’s Ladder Creek Pipeline allowing the transport of gas to the Ladder Creek Helium Processing Plant in Cheyenne Wells, Colorado. The Levens #2 was successfully drilled to a depth of 2,478 feet and encountered multiple gas zones.
As of Dec 2024
Monarch Lease
VVC purchased the Monarch Lease in April 2021, bolstering VVC’s ability to capitalize on the growing demand for helium, driven by increased global usage. The Monarch Lease is a 1,720-acre property that is located in the Byerly Field in Greely County, Kansas and includes six formerly producing gas wells that are still connected to the Tumbleweed Midstream pipeline. All wells produced both methane and helium. There is additional potential in the deeper zones of this property which VVC will explore.
Stockholm Project
The Stockholm project is VVC’s top drilling priority project in Wallace Kansas in an area with significant natural gas potential. Stockholm spans 3,000 acres of permitted jurisdiction targeted for helium, natural gas and hydrogen. VVC has commenced drilling activities at the Josephine Mack 1-18 well, marking the initiation of the company's first test well within the Stockholm project.The Josephine Mack 1-18 well is VVC's strategic entry into this geologically promising region which evaluates the hydrocarbon potential of the Morrow Zone. The Stockholm project shows potential for oil production as well.
Copper and Associated Metals
VVC’s current copper focus project is Gloria in Northern Mexico which is a host to oxide copper mineralization with a copper resource of 59.4 million pounds, indicated (9.6 million tonnes grading 0.28 percent copper) and 89.33 million pounds, inferred (14.4 million tonnes grading 0.28 percent copper). The property spans 4,055 acres in Chihuahua State and drilling over the past two years has defined a significant copper mineralized zone over a 15-kilometer strike.
Gloria provides VVC with a unique exposure to the copper market. Approximately 100,000 tons of artisanal ore piles on site that have been high graded, hand cobbed (sorted), and can be utilized for pilot/test mining.
Located in Central Sonora Mexico is VVC’s 16,622-acre Cumeral gold/copper exploration project. Cumeral covers an epithermal style, mineralized gold/silver zone at least 3.6 kilometers long with geological structure and surface sampling suggest the potential for multi-million ounce gold deposit.
Carbon Capture
Proton Green
VVC recently made a strategic investment in Proton Green, an energy transition company poised to become one of the leading helium producers and carbon sequestration hubs in North America.
Proton Green, LLC, is a producer of helium and hydrogen and is building out its position as a large carbon sequestration operator in North America. With operating control over the St. Johns Field, a 152,000-acre property in Apache County, Arizona, Proton Green controls a helium reservoir and carbon storage basin.
Proton Green’s initial project is the St. Johns Field. The St. Johns Field is a massive helium reservoir and immense carbon storage basin located in Apache County, Arizona. Extensive third-party geological studies performed on the property indicate reserves of up to 33 billion cubic feet of helium in shallow, easily accessible reservoirs. Capable of producing one billion cubic feet of helium per year, it will be among the most prolific helium production sites in the world.
It is also projected to be among the largest carbon capture companies in North America, with 22 million metric tons of carbon sequestration per year, and a total storage capacity of over 1 billion metric tons.
Management Team
Terrence Martell - Chairman of the Board
Dr. Terrence Martell is the director of the Weissman Center for International Business at Baruch College and the Saxe Distinguished Professor of Finance where he oversees a myriad of international education programs and projects. He is also the chairperson of the University Faculty Senate and an ex-officio member of the board of trustees at The City University of New York. His area of expertise and research is international commodity markets.
He is a director of the Intercontinental Exchange (ICE) where he serves on the audit committee and has many roles. He serves on the board of the Manhattan Chamber of Commerce and is a member of their executive committee. He is also a member of the New York City District Export Council of the US Department of Commerce and a member of the Reuters/Jefferies CRB Index Oversight Committee. Dr. Martell received his BA in Economics from Iona College and his PhD in Finance from the Pennsylvania State University.
James (Jim) Culver - President, CEO and Director
Dr. James Culver has spent over 40 years in the fields of commodities, international trade and trade finance, holding posts in government, academia and the private sector. For the last 20 years, he has focused on commodity finance and commodity project finance, primarily in mining and metals and agricultural products. He spent 22 years working in New York City where he most recently managed two private commodity asset-based lending companies and developed hedge funds to support their lending activities.
Previously, Dr. Culver served as chief economist and director of the Economics and Education Division for the Commodity Futures Trading Commission. He was responsible for market surveillance and new product approvals. He also served for five years on the staff of the Committee on Agriculture of the US House of Representatives. In addition, Culver has been an active participant in a family-owned and operated business, The Parsons Group International Education Inc., a for-profit educational services company. He earned his B.Sc. at the University of Tennessee Martin and his MSc. and PhD degrees from the University of Tennessee Knoxville.
Andre St-Michel - Senior Consultant, Mexican Operations
A Canadian mining engineer and geologist residing in Chihuahua, Mexico, Andre St-Michel has over 30 years of experience in the mining business with a focus on mine development, mill operation, administration and finance. He has spent the last 10 years working in Mexico where he currently serves as President and CEO of Freyja Resources.
From 2003 to 2008, he was a senior executive of Dia Bras (now Sierra Metals), responsible for its exploration programs and the start-up of its Bolivar copper and zinc mine. From the initial start-up of the mine in 2005, production reached 450 tons per day in 2006 with annual projected revenues of approximately $27 million and cash flows of approximately $10 million. Prior to 2003, he served as president of ECU Silver Mining, developing programs and properties in the US, Brazil and Mexico. He holds a degree from the Laval University Engineering School and a Master’s degree in Project Management from University du Quebec. He is a professional engineer.
Michael Lafrance - Director and Secretary-Treasurer
Michael Lafrance has been VVC Exploration’s secretary and treasurer and geological consultant since December 2012. Since 1980, he has served in similar roles with many other publicly-traded exploration companies. He is also the corporate secretary of POET Technologies Inc. (formerly Opel Technologies), a pioneer in the field of integrated circuits. He is a graduate of the University of Ottawa.
Kevin Barnes - CFO
Kevin Barnes has served as the corporate controller and CFO of various public and private companies over the last 12 years. He also served in the role of IT manager and senior accountant with Duguay and Ringler Corporate Services, a firm which provides corporate accounting and secretarial services to publicly-traded companies. He served as the controller of Canada’s Choice Spring Water, one of Canada’s first publicly traded bottled water companies.
He currently serves as CFO of Poet Technologies, a pioneer in the field of integrated circuits and Controller of an international training institute with revenues of $100 million. Barnes received a computer operations diploma from the Careers Development Institute and has a Certified Management Accountant designation from the ICMA Australia. In 2006, he became a member of the Institute of Chartered Secretaries and Administrators of Canada.
Peter Dimmell - Director
Peter Dimmell is a geologist and prospector who has been involved in mineral exploration in Canada, the United States and overseas for 38 years. He is experienced in all aspects of the mining industry and has guided on-site operations from exploration through to production. He is a past president of the Prospectors and Developers Association of Canada (PDAC), a director and former chairman of the Newfoundland and Labrador Chamber of Mineral Resources and a councilor and member of the Geological Association of Canada. He sits on the Board of Directors of four other public companies: Arehada Mining, Linear Gold, Pele Mountain Resources and Silver Spruce Resources, for which he also serves as CEO.
Bruno Dumais - Director
Bruno Dumais is vice-president of finance, for BroadSign International, a Montreal-based provider of digital signage solutions. He possesses over 20 years of experience in financial, forecast and strategic planning and is responsible for overseeing global financial activities. Before joining BroadSign, he was the chief financial officer, vice-president of finance and a consultant at Mitec Telecom for seven years. He has also held senior level positions in companies crossing a variety of sectors, such as Gestion Exponent, Nortel Networks and Premier Tech. Dumais is a chartered professional accountant and holds both a Bachelor in Business Administration from the University of Quebec in Rimouski and an International MBA from the University of Ottawa.
Patrick Fernet - Director
Patrick Fernet is a legal, operations, and corporate governance expert with more than twelve years’ experience in Canadian small-cap public corporations. He serves as a consultant to VVC on a variety of corporate matters. He has more than 15 years of governance experience with small-cap Canadian corporations.
Scott Hill - Director
Scott Hill has served as chief financial officer of Intercontinental Exchange Inc (ICE) since May 2007. He is responsible for all aspects of ICE’s finance and accounting functions, treasury, tax, audit and controls, business development, human resources and investor relations. Hill also oversees ICE’s global clearing operations. Prior to joining ICE, Hill was assistant controller for Financial Forecasts and Measurements at IBM, where he oversaw worldwide financial performance and worked with all global business units and geographies. Hill began his career at IBM and held various accounting and financial positions in the US, Europe, and Japan, including vice-president and controller of IBM Japan, and assistant controller, financial strategy and budgets..
Leon Vijay Shivamber - Director
Leon Shivamber is a transformation leader with more than three decades of successful transformations under his belt. He learned about strategy and business integrity during his years at McKinsey & Company, change management, and rapid transformation during his New York Consulting Partners years and high-performance acquisitions during his years at Arrow Electronics. He spent five years leading the prize-winning supply chain and operations transformation at the then Harris Corporation (now L3 Harris Technologies). For three years after that role, Leon extended and applied his transformation experience as a leader and general manager building an international joint venture in the Middle East.
Thereafter, Leon spent three years as CEO leading the vibrant UAE headquartered Atlas Group with strategic businesses in communications, defense, energy, food, healthcare, hospitality, public safety, and security. He also spent two additional years advising Atlas Group and other Middle-East-based corporations on their transformation efforts. Since that time, Leon has returned to the United States and has been acting as a senior advisor to several corporate transformations. He is a fellow, Life Management Institute (FLMI), and a trustee of the board of directors of Baruch College Fund.
FireFly Metals Gets Approval to Dual List on Toronto Stock Exchange
FireFly Metals (ASX:FFM,OTC Pink:MNXMF) announced plans to dual list on Wednesday (December 11) after receiving conditional approval to trade on the main board of the Toronto Stock Exchange (TSX).
It will use the symbol FFM, the same symbol it uses on the Australian Securities Exchange (ASX).
The copper- and gold-focused company is set to debut on the TSX on December 16.
“(This) is a compliance listing only and will not be accompanied by a capital raising,” the company said, adding that it had AU$88 million in cash as of the end of October and is capable of fully funding its 2025 growth strategy.
FireFly is currently focused on growing the resource at its flagship Green Bay copper-gold project. It said in October that it is working toward the next resource update at the site, and expects it to come in the first half of 2025.
Green Bay is located in the Baie Verte district of Northeast Newfoundland, Canada, which is among the top 10 global mining investment jurisdictions, according to a 2023 Fraser Institute survey.
The project’s resource currently measures 460,000 tonnes at 1.9 percent copper equivalent within the measured and indicated categories, and 690,000 tonnes at 2 percent copper equivalent within the inferred category.
“Having established Green Bay as a high-grade, world-scale copper project, we believe the TSX listing will help the company capitalise on the strong interest among North American investors,” said Managing Director Steve Parsons.
Two of FireFly's board members are already located in Toronto, and the company believes listing in Canada will help it attract local exploration and development talent.
According to FireFly, existing shareholders will be able to trade their shares on the TSX.
“(Shareholders will only need to) request to reposition their shares from the Australian principal share register to the Canadian branch share register and establish an account with an appropriate broker,” the company explained.
FireFly's primary listing will remain on the ASX.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Lobo Tiggre: Copper is My Highest-Confidence Trade for 2025 — Here's Why
Lobo Tiggre, CEO of IndependentSpeculator.com, gave the Investing News Network his updated thoughts on the US economy, as well as his outlook for gold, silver and uranium in 2025.
However, he said his highest-confidence trade for next year is copper.
"I think that it's easier to see — and highly likely to see — copper moving higher next year," Tiggre explained.
That said, he's not quite ready to pull the trigger on copper stock purchases.
"I'm not rushing out to buy yet, because I think even in the little time we have left this year we're going to see more bad economic news, and Dr. Copper with a PhD in economics always goes down with that sort of news. So I'm looking to that as a buying opportunity — I'm looking to maximize my upside by taking advantage of that."
Watch the interview above for more from Tiggre on copper, plus gold, silver and uranium. You can also click here to view the Investing News Network's New Orleans Investment Conference playlist on YouTube.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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29Metals Shares Feasibility Study and Final Investment Decision for Gossan Valley Project
29Metals (ASX:29M) has announced a feasibility study and final investment decision for the Gossan Valley project at its Golden Grove volcanic-hosted massive sulphide mine in Western Australia.
The feasibility study is an update to the 2022 version of the document. It outlines production of 4,000 tonnes of copper and 20,000 tonnes of zinc annually at Gossan Valley over an initial mine life of seven years.
CEO James Palmer said the development of Gossan Valley is the "next logical development option" when it comes to moving forward at Golden Grove, which was first discovered in 1971.
"As the second highest grade Ore Reserve behind Xantho Extended, development of Gossan Valley optimises Golden Grove's life-of-mine production profile and enhances overall production flexibility as a relatively shallow and independent mining front," Palmer explained in the company's December 3 press release.
Gossan Valley remains open at depth, holding opportunities for future exploration and resource extension.
Located approximately 450 kilometres northeast of Perth and 250 kilometres east of Geraldton, the Golden Grove mine was acquired by EMR Capital, the largest shareholder of 29Metals, in 2017.
On the same day as it released its feasibility study and final investment decision for Gossan Valley, 29Metals launched a AU$180 million equity raising. The company said AU$112 million will be used to fully fund the project, while the remainder will be used to reduce its total senior debt by extending the maturity date until 2028.
The equity raising will be conducted at an offer price of AU$0.27 per share, which represents a 27 percent discount to 29Metals’ closing share price of AU$0.37 per share on December 2.
On Tuesday (December 10), 29Metals said it had opened the retail component of its entitlement offer. It is set to raise about AU$36.2 million, with eligible retail shareholders invited to purchase new shares at AU$0.27 each.
The retail entitlement offer is expected to close on December 19.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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