Idaho Copper Begins Critical Next Step
Idaho Copper (COPR) is beginning a important phase in its business plan by deploying a 'TruScan' core scanning unit to analyze metal grades from drill cores at the CuMo project. Veracio, a subsidiary of Boart Longyear, is providing the technology. The company aims to optimize ore sorting parameters to enhance profitability and reduce capital costs. Additionally, Idaho Copper CFO commented on the industry's M&A activity, signaling a positive outlook for the mining sector.
Deployment of 'TruScan' core scanning unit to enhance data recovery and analysis efficiency
Potential optimization of ore sorting parameters for increased profitability and reduced capital costs
Positive industry outlook with major M&A activity indicating opportunities in the mining sector
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Boise, Idaho, April 29, 2024 (GLOBE NEWSWIRE) -- This week, in Boise, Idaho, Idaho Copper Corporation (OTC:COPR), ("ICC" or "the Company") will commence a critical next step in its business plan. In a warehouse holding over 60,000 feet of drill cores, Veracio is deploying a "TruScan" core scanning unit to begin digital scanning and measurement of the metal grades of thousands of feet of drill core pulled from the CuMo project over the past 20 years. Veracio, a subsidiary of Boart Longyear, is a global leader in providing integrated technology solutions to the mining industry to improve speed and reliability of data recovery for core samples.
The “TruScan” mobile scanning unit, which is about the size of a cargo van, contains sophisticated software and XRF (X-ray fluorescence ) scanning equipment that analyzes drill core on as small as 1.5 cm intervals to detect and measure copper and molybdenum grades. XRF technology is non-destructive and works by measuring the fluorescent (or secondary) X-ray emitted from a solid material sample when it is exposed to a primary X-ray source. Each of the elements present in a sample produces a set of characteristic fluorescent X-rays (“a fingerprint”) that is unique for that specific element.
The company will utilize this data to confirm previous laboratory analyses of the metal distribution within the core, and compare the detailed scan results with previous studies. The results will then be used to determine potential ore sorting parameters in an updated Preliminary Economic Assessment (PEA ), and to select various bulk core samples for detailed metallurgical and ore sorting studies. The ultimate goal of this exercise is to reduce the overall mill size and significantly increase mill feed grades, which the company expects will translate into lower capital costs and higher profitability for the project.
Separately, Idaho Copper CFO Robert Scannell had the following comment about the recent wave of M&A activity in the mining industry: "BHP's recent bid for Anglo American PLC is a signal that the biggest players in the mining world are positioning themselves for a different world, where copper plays a starring role in the green economy. We are excited to be advancing the CuMo project in such a compelling environment."
About Idaho Copper Corporation
Idaho Copper Corporation is a mineral exploration and development company focused on exploring and developing a massive copper-molybdenum-silver deposit in Idaho (United States), (“the CuMo” project). The CuMo project currently consists of one hundred and twenty-six (126) federal unpatented lode mining claims, and six (6) patented mining claims. In total, the project comprises approximately 2,640 acres. The unpatented lode mining claims and patented claims are situated in an unorganized mining district in Boise County, Idaho. For more information, visit: www.idaho-copper.com.
Safe Harbor Statement
This press release contains forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. These statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. Stockholders and potential investors should not place undue reliance on these forward-looking statements. Although the Company believes that its plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, the Company cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond the Company’s control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Except to the extent required by law, the Company has no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2023, and the Company’s other periodic and quarterly filings with the SEC.
For further information, please contact: info@idaho-copper.com
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