PALM BEACH, Fla., Aug. 06, 2024 (GLOBE NEWSWIRE) -- FinancialNewsMedia.com News Commentary - In the global copper market, the demand for copper is projected to increase in coming years. An article in Forbes said: “The world is running short of copper, and companies and countries are scrambling. This essential metal, a staple of civilization going back to the bronze age, is the lifeblood of existing energy infrastructure and cutting-edge technology. Unfortunately, it faces a projected supply shortfall by 2025 with projections showing a 20% price jump by May 2027. Annual demand will surge to 36.6 million metric tons by 2031, up from 25.3 million in 2021.” Another article in industry source, MetalMiner added: “… the world knows that although the current global copper reserves are sufficient to meet demand, extraction continues to lag behind consumption. As a result, many inside and outside the copper market fear there will be a shortage in the coming years. Predictions say that the annual global demand for copper will increase by about 40% by 2040. There are multiple factors fueling this expected growth, including the global move toward renewable energy and sustainable transportation. Given this current environment, any developments around copper and its mining remain guaranteed to hit the headlines.” Active Companies mentioned in the article includes: Brixton Metals Corporation (OTCQB: BBBXF) (TSX-V: BBB), BHP Group Limited (NYSE: BHP), Ivanhoe Electric Inc. (NYSE: IE) (TSX: IE), Western Copper and Gold Corporation (NYSE: WRN) (TSX: WRN), Copper Fox Metals Inc. (OTCQX: CPFXF) (TSX-V: CUU).
A report from Precedence Research projected that the global copper market size was USD 318.19 billion in 2023, calculated at USD 333.15 billion in 2024 and is expected to reach around USD 548.20 billion by 2034, expanding at a CAGR of 5.11% from 2024 to 2034. The report continued: “The copper market is a pivotal component within the global economic landscape. Copper, a highly conductive metal with applications spanning various sectors such as electronics, construction, and transportation, plays a fundamental role in contemporary technological advancements, including electric vehicles, telecommunications, and sustainable energy solutions. The market's vitality depends on factors like infrastructure development, industrial performance, and the evolution of cutting-edge technologies. Moreover, the increasing emphasis on environmental sustainability has elevated the significance of copper recycling practices. Consequently, the copper market retains its prominence, demonstrating resilience and adaptability while continuing to evolve in response to changing economic and ecological demands. The Asia Pacific copper market size was valued at USD 124.09 billion in 2023 and is expected to surpass USD 213.80 billion by 2034, growing at a CAGR of 5.30% from 2024 to 2034.”
Brixton Metals Corporation (OTCQB:BBBXF) (TSXV:BBB) Provides Assays from the Second Camp Creek Drill Hole of the 2024 Exploration Program with an Upper 61.5m Gold Dominant Zone and a Lower 1126.05m Interval of Porphyry Copper Dominant Zone
- Gold Zone: 61.5m of 0.89 g/t Gold Including 4.65m of 6.15 g/t Gold
- Copper Zone: 1126.05m of 0.31% CuEq, Including Sub-intervals of 575.50m of 0.45% CuEq, 247.94m of 0.57% CuEq, 81.50m of 0.60% CuEq, 30.55m of 0.67% CuEq
Brixton Metals Corporation (the “Company” or “Brixton”) is pleased to announce its second drill hole results of the 2024 season from its wholly owned Thorn Project located in NW British Columbia, Canada. The Thorn Project is an underexplored copper-gold porphyry district with 16 large scale exploration target areas identified. Brixton is operating with two diamond drills and will continue drilling until the end of the season.
Highlights
- A gold dominant zone identified above porphyry-copper mineralization in hole THN24-291 from 116.50-178.00m represents a potential southwest extension to the high-sulphidation gold system of the Talisker Zone to a 900m strike length yielding:
- 61.50m of 0.89 g/t Au, 10.5 g/t Ag, 0.13% Cu
- Including 37.30m of 1.35 g/t Au, 16.1 g/t Ag, 0.21% Cu
- Including 11.00m of 3.53 g/t Au, 43.7 g/t Ag, 0.67% Cu
- Including 4.65m of 6.15 g/t Au, 61.9 g/t Ag, 0.96% Cu
- 61.50m of 0.89 g/t Au, 10.5 g/t Ag, 0.13% Cu
- Copper dominant porphyry mineralization within THN24-291 begins at 397.95m depth and ended in mineralization at 1524m with increasing copper grades observed over the bottom 25m
- Hole THN24-291 intercepted broad zones of Cu-Au-Ag-Mo mineralization:
- 1126.05m 0.18% Cu, 0.05 g/t Au, 1.82 g/t Ag, 167 ppm Mo (0.31% CuEq)
- 575.50m of 0.27% Cu, 0.06 g/t Au, 2.32 g/t Ag, 266 ppm Mo (0.45% CuEq)
- 247.94m of 0.34% Cu, 0.10 g/t Au, 2.81 g/t Ag, 295 ppm Mo (0.57% CuEq)
- 55.94 of 0.44% Cu, 0.13 g/t Au, 3.60 g/t Ag, 253 ppm Mo (0.66% CuEq)
- 30.55m of 0.46% Cu, 0.13 g/t Au, 3.95 g/t Ag, 212 ppm Mo (0.67% CuEq)
- 21.00m of 0.38% Cu, 0.05 g/t Au, 2.62 g/t Ag, 456 ppm Mo (0.65% CuEq)
- 1126.05m 0.18% Cu, 0.05 g/t Au, 1.82 g/t Ag, 167 ppm Mo (0.31% CuEq)
- Hole THN24-291 significantly extends the footprint of mineralized porphyry at Camp Creek towards the northwest
Vice President of Exploration, Christina Anstey, stated, “We are excited to announce that THN24-291 has expanded the known broad copper mineralization at the Camp Creek Porphyry Target and provided a 250-meter extension of the Talisker Gold Zone at the Thorn Project. We look forward to receiving additional assays from the Camp Creek drilling and some of the new multi-kilometer scale regional untested drill targets being explored during this fully funded season.” CONTINUED… Read this full press release for Brixton Metals at: https://brixtonmetals.com/news/
In other mining news of interest:
BHP Group Limited (NYSE: BHP) and Lundin Mining Corporation have recently agreed to jointly acquire 100% of Filo Corp., a Toronto Stock Exchange (TSX) listed company, through a Canadian plan of arrangement (Filo Acquisition). Filo Corp. owns 100% of the Filo del Sol (FDS) copper project.
BHP and Lundin Mining have also agreed to form a 50/50 joint venture to hold the FDS and Josemaria projects (Joint Venture) located in the Vicuña district of Argentina and Chile (together with the Filo Acquisition, the Proposed Transaction). Lundin Mining owns 100% of the Josemaria project. The Joint Venture will create a long-term partnership between BHP and Lundin Mining to jointly develop an emerging copper district with world-class potential.
Ivanhoe Electric Inc. (NYSE American: IE) (TSX: IE) Executive Chairman Robert Friedland and President and Chief Executive Officer Taylor Melvin recently said that they are pleased to provide an update on recent progress at the Santa Cruz Copper Project in Arizona, including drilling activities and the selection of external consultants to advance the Project's Preliminary Feasibility Study ("PFS").
Mr. Melvin commented: “Selecting the lead external consultants for our Santa Cruz Copper Project is a major milestone in the advancement of our modern, high-grade underground copper project on private land in Arizona. We are excited to have Fluor, a recognized global leader in the design, engineering and construction of high-quality mining projects, lead a world-class team of experienced consultants to assist with our Preliminary Feasibility Study. Our dedicated team of professionals continues to make significant progress at Santa Cruz. We remain on schedule to deliver the completed PFS by the end of the second quarter in 2025.”
Western Copper and Gold Corporation (NYSE American: WRN) (TSX: WRN) recently announced additions to the Company's senior management team. In early August, Michael Psihogios will be taking over the role of Chief Financial Officer from Varun Prasad, and Jeff Eng will be assuming the role of Vice President Projects.
Sandeep Singh, CEO of Western, stated: “We are extremely pleased to be adding two high quality professionals to the Western team. Both Michael and Jeff bring highly relevant experience and an operational mindset to their positions. Coupled with our strong Yukon based team, they will be integral to advancing the Casino project through the assessment and permitting phase.
I would like to thank Varun Prasad for his 13 years of dedicated service to the Company. Over a short period of overlap, Varun has proven to be a great partner and we wish him the best as he focuses more time on his young family and future endeavours. He will continue in his role for the next two months to assist with the CFO transition.”
Copper Fox Metals Inc. (OTCQX: CPFXF) (TSX-V: CUU) and its wholly owned subsidiary, Desert Fox Mineral Mountain Co. ("Desert Fox"), recently provided results of a recently completed sampling program and an update on the permitting process related to obtaining a drilling permit on its 100% owned Mineral Mountain porphyry copper property (2,692.4 ha) located within the Mineral Mountain Mining District, Arizona.
The Mineral Mountain Mining District occurs within a northeast trending porphyry copper belt and is located approximately 25 kilometers ("km") (15 miles) southwest from Rio Tinto and BHP's giant Resolution porphyry copper-molybdenum deposit and approximately 25 km northeast of Taseko's Florence porphyry copper deposit.
Elmer B. Stewart, President, and CEO of Copper Fox, stated, “We are pleased with the progress of the Environment Review process and having the baseline data in hand, allows SWCA to transition to compilation and interpretation of the data sets. In addition to advancing the Environmental Review process, our recent work has expanded the porphyry potential of the Mineral Mountain district by at least 3 km to the northeast and suggests the introduction of several phases of molybdenite mineralization during emplacement of the porphyry system.”
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