World Copper's Zonia Project Sees Major Resource Expansion

World Copper Expands Resource Estimate at Zonia Copper Project

World Copper Ltd. has exciting news for its Zonia copper-oxide deposit in Arizona. The company has released an updated and expanded Mineral Resource Estimate (MRE) that showcases a significant increase in the resources available for extraction.

The new estimate reveals a staggering 113.2 million short tons graded at 0.303% total copper within the Indicated category, which translates to about 686 million pounds of copper. Additionally, there are approximately 59.2 million short tons graded at 0.254% total copper classified as Inferred, equating to around 300 million pounds of copper. This robust update highlights the project’s promising future.

Understanding the Significance of the Update

The enhancements in the mineral resource are noted to be a result of a refined modeling approach and the application of a higher copper price in this estimate. According to Chief Executive Officer Gord Neal, this expansion significantly de-risks the project and enhances the indicated resource classification of the deposit. Such advancements could extend the life of the mine and increase future operational throughput.

The report details a strip ratio of 3.2:1 waste to mineralized material at the base case copper cutoff grade of 0.18% and an impressive low strip ratio of 1.1:1 at the economic cutoff of 0.07% total copper. Sue Bird of Moose Mountain Technical Services contributed to this extensive resource update.

Targeting New Discoveries and Future Plans

Looking forward, World Copper aims to explore areas north-northeast of the current open pit and resource. A sizable copper-molybdenum-manganese geochemical anomaly, measuring 2.5 kilometers by 1.5 kilometers, has been identified in this region, which could potentially harbor additional resources.

The recent geological surveys conducted in the vicinity delineated a copper-molybdenum anomaly that shares similarities in both size and shape to the existing Zonia deposit, positioning it as a promising target for future exploration.

Notably, the Zonia Norte porphyry target, previously permitted by another operator, stands ready for drilling, with plans in place for the company to drill 18 holes over 5,000 meters, honing in on copper oxide mineralization.

Project Timeline and Expected Milestones

World Copper is determined to push the Zonia copper oxide deposit towards feasibility and subsequent production phases. The timeline shows that copper cathode production could commence within 48 months, capitalizing on favorable conditions with existing infrastructure.

The company anticipates that the next crucial step will be the initiation of a verification drill program on the leach pads; this could significantly enhance pre-production cash flow and accelerate the project’s path to realization, especially in a buoyant copper market.

The Growing Demand for Copper

Copper prices have been experiencing fluctuations, recently trading at $4.07 per pound, down by 3.53% since last week, but showing an overall annual increase of 4.40%. The demand for copper is projected to double by 2035, driven largely by the electric vehicle industry, which utilizes substantially more copper than traditional vehicles.

Industry experts note a growing recognition of the structural supply deficit in the copper market, leading to intensified efforts across the copper supply chain to secure additional sources of the metal. Investments in both existing and new copper projects are crucial to meet this increasing demand.

As interest in transitioning to greener energy sources rises, the price of copper is expected to soar. The market is keenly watching several factors that can affect metals pricing, including forthcoming changes in U.S. economic policy and broader global economic sentiments.

Investor Confidence and Ownership Structure

Regarding ownership, Wealth Minerals Ltd. holds about 10.44% of World Copper, as reported by reliable sources. Management and insiders collectively own approximately 18.64% of the company, with notable shares held by Director Robert Kopple and Board Chairman Hendrik van Alphen.

World Copper boasts 196.3 million outstanding shares, with 110.66 million available for trading. The current market capitalization stands at approximately CA$12.65 million, with shares experienced a trading range between CA$0.06 and CA$0.35 within the past year.

Frequently Asked Questions

What is the recent update about World Copper's Zonia project?

World Copper Ltd. has expanded the Mineral Resource Estimate for its Zonia copper-oxide deposit, indicating a substantial increase in recoverable copper resources.

What potential does the Zonia deposit have for future production?

The project shows potential for extended mine life and increased throughput, with plans to commence production within the next 48 months.

How significant is the geochemical anomaly near the Zonia deposit?

The identified geochemical anomaly north-northeast of the Zonia deposit could represent a new source of copper and increase the overall resource of the project.

Who owns a stake in World Copper Ltd.?

Wealth Minerals Ltd. owns 10.44% of World Copper, while management and insiders combine to own approximately 18.64% of the company.

What is the outlook for copper demand and pricing?

Demand for copper is projected to double by 2035, and rising prices are expected due to the transition to electric vehicles and other green technologies.

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