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World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) ("World Copper" or the "Company") announces that it has entered into a Memorandum of Understanding ("MOU"), through its wholly-owned Chilean subsidiary, TriMetals Mining SCM, with the Advanced Mining Technology Centre ("AMTC") of the Faculty of Physics and Mathematics ("Facultad de Ciencias Físicas y Matemáticas") of the University of Chile ("Universidad de Chile").
The MOU sets out a framework for a strategic alliance between the parties (the "Strategic Alliance") for the research, development, and implementation of sustainable and innovative technologies applicable to exploration, metal mining and ore processing. The ultimate goal of the Strategic Alliance is to develop and implement mining processes that reduce the environmental impacts of mining activities to the surrounding communities and help protect the natural environment throughout the mining development cycle.
World Copper President and CEO, Nolan Peterson commented,"It is a great honor to collaborate with AMTC and Universidad de Chile. This MOU is aligned with World Copper's goals of developing its Escalones project into one of the greenest and most environmentally friendly mining projects in Chile and creating an exemplar mining company of the future. AMTC will allow us to access some of the best talent and know-how in the country, to help us fast-track these goals. Sustainability is integral to contributing meaningfully to our communities and to the success of our projects and we believe it is a critical component in the value creation chain. World Copper is committed to making deep inroads within the Chilean community and this MOU is an example of that. We will continue to form these relationships as we expand our team and activities to embrace the opportunity before us."
Javier Ruiz del Solar, Executive Director of AMTC commented, "We welcome this opportunity to work hand-in-hand with a forward-looking company like World Copper as we continue to strive for the highest standards of sustainability and technical excellence for the mining industry, in the spirit of the values of Universidad de Chile."
The MOU calls for scientific and educational co-operation between AMTC and World Copper's Escalones project. For the initial period of two years the parties will make joint efforts towards a common goal of creating sustainable and environmentally friendly methods of conducting exploration and mining activities. Both parties will work towards creating new technologies that aim to reduce water consumption, environmental footprints, and CO2 emissions of mining related activities. The MOU does not commit either party to any specific action, but rather provides the initial principles on which parties will carry out research, development, innovation, and other activities contemplated by the Strategic Alliance.
The MOU strengthens the links between AMTC and World Copper, as well as between academia and the mining industry. AMTC is a prominent academic centre in Chile and has an outstanding reputation for putting cutting-edge research into practice and helping the mining industry advance towards a greener and more sustainable future. World Copper has unique knowledge of exploration and project development in Chile and seeks to work with academic partners towards responsible resource development.
Pursuant to the MOU, the Company will host workshops for AMTC researchers and students to investigate potential projects and options to cooperate in the development of World Copper's projects in Chile and the U.S.
ABOUT AMTC
AMTC was founded in 2009 as a part of the Facultad de Ciencias Físicas y Matemáticas of the Universidad de Chile, and its facilities are in the Campus Beauchef of the Universidad de Chile.
Its scientific research activity of its over 170 faculty is focused on five areas: exploration and geological modelling, mine design and production planning, mineral processing and extractive metallurgy, automation in mining, water, and environmental sustainability.
AMTC has successfully championed numerous scientific projects creating prototypes, proprietary software and cooperating with various mining and exploration companies. AMTC has also developed significant cooperation agreements and joint research initiatives with government agencies, and research and technology centres worldwide. For more information, please visit www.mtc.cl.
ABOUT UNIVERSIDAD DE CHILE
Universidad de Chile, located in Santiago, is the oldest and the most prestigious public university in Chile. It is recognized as one of the best universities in Latin America for its leadership and innovation in science, technology, social sciences, and arts. It was also listed among the 400 best universities in the world.
Its five campuses and world-class facilities educate over 43,000 undergraduate and graduate students and offer more than 39 doctoral programs and 115 master programs. Notable alumni include Nobel laureates Pablo Neruda and Gabriela Mistral, twenty Chilean presidents and two presidents from other countries (Mexico and Ecuador).
ABOUT World Copper Ltd.
World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the exploration and development of its copper porphyry projects: Escalones and Cristal in Chile, and Zonia in Arizona. Two of these projects have estimated resources with significant soluble copper mineralization, and there are at least two other copper porphyry targets with exciting potential to expand the resource base.
About Escalones
The Escalones porphyry-skarn 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 drill core from 53 holes. The 3.45 billion pounds of copper should be amenable to heap leaching with an average recovery of 71%. The Company is focused on exploring the Mancha Amarilla target immediately to the south of the existing resource. In addition, three significant hydrothermal alteration zones, each measuring between 2,000m and 3,000m in diameter, lie 8-10km to the north of the main discovery.
Mineral resources are not mineral reserves and do not have demonstrated economic viability as there is no certainty that all or any part of the resources will be converted into reserves. Inferred resources are that part of a mineral resource for which quantity and grade or quality are estimated based on limited geological evidence and sampling. It is reasonably expected that the inferred resources could be upgraded to indicated resources with continued exploration.
About Zonia
The Zonia project is in Yavapai County, Arizona, and consists of 261 mineral claims and additional surface rights, all totaling 4,280 acres. It is a near-surface, copper-oxide resource and a brownfields site having already been mined in the late 1960s and '70s. The Project is at the PEA level and has been significantly de-risked with over 50,000 metres of drilling completed to date and with substantial amounts of detailed engineering completed. Further details can be found here.
The World Copper team has a unique skill in navigating the mining sector within Chile, with some members having worked in the country for more than 40 years and with discovery success.
QUALIFIED PERSON
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.
On Behalf of the Board of Directors of
"Nolan Peterson"
Nolan Peterson
Chief Executive Officer
For further information, or to schedule a Zoom meeting with Management, please contact:
Nolan Peterson or Michael Pound
Phone: 604-638-3665
E-mail: info@worldcopperltd.com
For all Investor Relations inquiries, please contact:
John Liviakis
Liviakis Financial Communications Inc.
Phone: 415-389-4670
For all Public Relations inquiries, please contact:
Nancy Thompson
Vorticom, Inc.
Office: 212-532-2208 | Mobile: 917-371-4053
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Neither 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 news release.
Cautionary Note Regarding Forward-Looking Statements
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 objectives and activities of the parties pursuant to the Strategic Alliance, the ability of the Company to access the best talent and know-how in Chile, the ability of the Company and AMTC to develop technologies that reduce water consumption, environmental footprints and CO2 emissions of mining activities, anticipated exploration program results from exploration activities, the discovery and delineation of mineral deposits/resources/reserves and the anticipated business plans and timing of future activities of the Company 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. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that AMTC and the Company will continue to work together under the Strategic Alliance, that market fundamentals will result in sustained copper demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company's projects in a timely manner, including the Escalones, Cristal and Zonia projects, the availability of financing on suitable terms for the development, construction and continued operation of the Company's projects, including with respect to implementing the new technologies contemplated by the MOU, and its ability to comply with environmental, health and safety laws.
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, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, including on the Escalones, Cristal and Zonia projects, the estimation or realization of mineral reserves and mineral resources, the fact that the Company's interests in the Cristal project and the Escalones exploitation concessions are options only and there is no guarantee that such interests, if earned, will be certain, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, 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 of the TSX Venture Exchange), 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 inability of the Company to obtain any necessary permits, consents, approvals or authorizations, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the company's continuous disclosure documents. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113195
Figure 1. Location of the Mt Oxide Project, within context of Mt Isa Inlier.
Figure 1. Locality map illustrating the position of Cobre’s project areas. Green licenses are relevant tothe Proposed Transaction, dark grey licenses will be run independently by Cobre.