Boise, Idaho, April 03, 2024 (GLOBE NEWSWIRE) -- Idaho Copper Corporation (OTC:COPR), (“ICC” or the “Company”), a U.S. based company focused the exploration and development of its copper-molybdenum-silver deposit in Idaho, known as “the CuMo” project, announces that it has recently hired three world-class mining consulting and engineering firms to commence comprehensive core scanning and ore sorting programs designed to result in an updated preliminary economic assessment (“PEA”).
ICC has recently signed agreements with three companies, including: MineSense (www.minesense.com) in Vancouver, BC Canada for bucket-level ore sorting testing, Veracio (www.veracio.com) from Salt Lake City, Utah for core scanning, and SGS Bateman of Tucson, Arizona (www.sgs.com) to complete metallurgical testing and to be the lead author on the PEA report update.
“We are pleased to continue technical work for the CuMo project, and our goal is to have updated results to share with the public within 6 to 9 months of commencing this work,” commented Steven Rudofsky, Chief Executive Officer of Idaho Copper Corporation.
“Ore-sorting, which separates mined waste from ore, has changed rapidly over the last decade, and is a proven technology in use at numerous large mines globally. ICC anticipates that the application and testing of the MineSense bucket level technology for material from the CuMo project will produce enhanced waste separation and allow the company to design a much smaller concentrator at a greatly reduced initial capital cost and operating cost, compared to the numbers released in our last PEA in May of 2020,” said Andrew Brodkey, Chief Operating Officer of Idaho Copper Corporation. “I should also note that prices for all of our major metals (copper, molybdenum and silver) were approximately 30% lower in 2020 and we will be able to incorporate today’s prices into the updated PEA valuation.”
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 10, 2023, and the Company’s other periodic and quarterly filings with the SEC.
For further information, please contact:
info@idaho-copper.com
