The two claim blocks are situated approximately 90 km SW of Kennecott’s prolific Bingham Canyon Mine Complex and 40 km SW of the Tintic Mining District which hosted some of the richest lead/silver mines in the state.
The Copper King Claims is a greenfield project. (Credit: Majuba Hill Copper)
Majuba Hill Copper Corp. (CSE: JUBA / OTC: JUBAF / FWB:4NP) (“Majuba Hill Copper” or the “Company”) is pleased to announce the Company has entered in to an agreement dated March 20, 2023 (the “Purchase Agreement”) with Ruby Hollow, LLC to acquire a 100% interest in the Copper King and Desert Mountain Claim Group SW of the Tintic Mining District in Juab, Utah (the “Transaction”). The properties consist of 6,827.994 acres of highly prospective claims and leases (the “Subject Property”).
The two claim blocks are situated approximately 90 km SW of Kennecott’s prolific Bingham Canyon Mine Complex (just west of Salt Lake City, Utah) and 40 km SW of the Tintic Mining District which hosted some of the richest lead/silver mines in the state.
The Copper King Claims is a greenfield project that hosts numerous quartz-specularite veins with occasional Cu-oxides, barite, and fluorite showings that increase in intensity along the western flank of the mountain range. A field program took place in 2020 that focused on collecting structural orientation data and geochemical grab samples of veins to provide further insight into the mineralizing system. Geophysical anomalies outline potential targets for drilling the 5113.214 acre property.
The Desert Mountain Claims is a block of land covered by the DMG claims, the Coyote Knoll claims, and a state section on west side of the claim block. There is alteration, mineralization, and jasperoids in the volcanic and Precambrian rock covered by the claims. There is a small mine on the property called the Coyote Mine with small production and reported 1000 ounces silver. A review of the drilling, including creating cross sections of the drilling, indicates excellent drilling opportunities along a mostly east-west structure covered by the claims. Additional opportunities can be found north and south off this east-west structure. The overall block size is approximately 1,714.78 acres.
David Greenway, President and CEO, commented: “While we continue to advance our flagship Majuba Hill Copper Project showcasing the potential for 1.5 Billion pounds of copper, with results just announced to expand that size, which will contribute to the development of a NI 43-101 compliant copper resource. Our phased approach is how the next great copper mines of America will be developed. This in an era when copper has never been in greater demand, the shortfall for copper been forecasted to become so significant and the need to find strategic copper reserves in domestic, safe, American, mining friendly jurisdictions been so imperative. Bravo to 2022. We couldn’t be more excited to see what 2023 brings. We are excited to add to the Company’s US based mining portfolio with this strategic acquisition to find the next ‘Majuba Hill’.”
Source: Company Press Release