| Announcement Date: | 2022-02-15 |
|---|---|
| Announcement Type: | PEA |
| Announcement Code: | NI43-101 |
| Company name: | World Copper Ltd. |
| Project name: | Escalones |
| Location: | Chile |
| Commodities: | Copper |
| Highlight: | PEA results incl. post-tax NPV (8%) of US$1,499.6M & IRR of 46.2% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper” or the “Company”; TSXV: WCU, OTCQB: WCUFF), announces the results of the independent Preliminary Economic Assessment (“PEA”) for its flagship Escalones project in Central Chile (“Escalones” or the “Project”). All values in this news release are reported in U.S. dollars unless otherwise noted. The PEA summarized in this news release is considered preliminary in nature, contains numerous assumptions and includes Inferred Mineral Resources that are considered too speculative, geologically, to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the results of the PEA will be realized. No Mineral Reserves have been estimated for Escalones. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Inferred Mineral Resources are that part of the Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geologic evidence and sampling, which is sufficient to imply but not verify grade or quality continuity. Inferred Mineral Resources may not be converted to mineral reserves. It is reasonably expected, though not guaranteed, that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. Mineral Resources are captured within an optimized pit shell and meet the test of reasonable prospects for economic extraction |
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