VANCOUVER, British Columbia, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Highland Copper Company Inc. (TSXV: HI; OTCQB: HDRSF) (“Highland” or the “Company”) is pleased to announce that the White Pine Copper, LLC, its joint venture with Kinterra Copper USA, LLC (“Kinterra”)., has initiated a drilling program at the White Pine North Project (the “Project”) in Ontonagon County, Michigan.
The winter drilling program initiated mid-January intends to obtain material for additional metallurgical and geotechnical test work programs. The drilling program, which will run through Q2 2024, focuses on data collection to advance project development. The intent is to complete ten drill holes, three PQ and seven HQ sized, for a total of approximately 6,460 metres. Downhole geotechnical imaging is planned for all drillholes to support mine design engineering. The successful completion of the program will be dependent on weather conditions over the course of the upcoming months.
The initiation of this drilling program demonstrates the joint venture’s commitment to advancing the White Pine North Project, while at the same time progressing permitting and engineering studies. The forthcoming testing will contribute to further refining the economic results obtained in the 2023 Preliminary Economic Assessment. White Pine Copper, LLC. has also recently hired a senior environmental representative that will manage environmental compliance requirements, future environmental baseline work, and permitting activities. Operating responsibly in Michigan remains a key focus of Highland.
“We are very excited with the focus that our joint venture partner, Kinterra, is putting on White Pine North. Kinterra has assembled a strong project leadership team to take charge of development of the Project and is proactively moving it forward. We created the joint venture on White Pine North to draw on Kinterra’s expertise in permitting and technical studies, in addition to their strong balance sheet. This has allowed Highland’s management to focus its time and capital on progressing the fully permitted, 100% owned, Copperwood Project, building value at both assets simultaneously,” stated Barry O’Shea, Interim CEO of Highland Copper.
About Highland Copper Company
Highland Copper Company Inc. is a Canadian company focused on exploring and developing copper projects in the Upper Peninsula of Michigan, U.S.A. The Company owns the Copperwood deposit through long-term mineral leases and 34% of the White Pine North project. The Company also owns surface rights securing access to the deposit and providing space for infrastructure as required. The Company has 736,363,619 common shares issued and outstanding. Its common shares are listed on the TSX Venture Exchange under the symbol "HI" and trade on the OTCQB Venture Market under symbol "HDRSF".
More information about the Company is available on the Company’s website at www.highlandcopper.com and on SEDAR at www.sedar.com.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking statements” and “forward-looking information” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. These statements include, without limitation, statements with respect to the timing of completion of, anticipated size of, and expected results of, the winter drill program. The forward-looking statements were based on information received from White Pine Copper LLC and the operator for the Project. The forward-looking statements are subject to a number of assumptions, including those set out in this news release. These underlying assumptions may prove to be incorrect. Important factors that could materially impact the Company's expectations include availability of personnel to conduct the drill program, delays with drill contractors, weather uncertainties, the general uncertainty regarding the results of exploration drilling, potential safety and environmental hazards that could delay drilling, general market and industry conditions, and the risks set out in the Company’s public disclosure documents filed on SEDARPlus. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this news release are reasonable, undue reliance should not be placed on forward looking statements. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and the Company undertakes no obligation to update forward-looking statements except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Barry O’Shea, Interim CEO
Email: info@highlandcopper.com
Website: www.highlandcopper.com
