Junior Not Wasting Time While Waiting For Permits| MENAFN.COM

Friday, 30 September 2022 03:47 GMT

Junior Not Wasting Time While Waiting For Permits


(MENAFN- Investor Ideas)

August 9, 2022 (Investorideas.com Newswire) This junior explorer is analyzing samples, conducting fieldwork and geophysical surveys, and mapping its British Columbia site with drones. But it can't wait to drill and find out what's underneath.



Junior explorer Fabled Copper Corp. (FABL:CSE) may be still waiting for permits to start its drilling campaign at its Muskwa copper project in British Columbia, but the company is not sitting on its hands.

It continues to analyze surface samples, conduct fieldwork and geophysical surveys, and map the site with drones. Human eyes come in handy, as well—the company has expanded its claim by 254 hectares after spotting a possible copper vein while cruising by in a helicopter.

With a looming copper shortage as the world speeds away from hydrocarbons toward greener options, things like electric vehicles (EVs) and solar panels will need more of the red metal. Asset manager Chen Lin, who follows Fabled Copper, said he's 'been waiting for a while' for drilling at Muskwa, but thinks the wait will be worth it.

'I just can't wait for them to drill it out,' Chen said. 'This can be a big one. … There's not much trading these days. So, I'm holding.'

The company has applied for 15 drill pads with three holes per pad and posted bonding in July. Consultations between the government and the First Nations are ongoing. The company does not have a timeline.

Fabled Copper President, Chief Executive Officer, and Director Peter Hawley said he's itching to start.

'I already have the first drill hole picked out,' Hawley said. 'When I was on my last trip (to the site), I made sure we had it in the right spot. I know exactly where it's going, and I know exactly where it's going to hit underground.'

Fieldwork Included Sample of 27.2% Copper

The company is young, having split from Fabled Silver Gold Corp. (FCO:TSX.V; FBSGF:OTCQB; 7NQ:FSE) last year. It recently released more results from its fieldwork at Muskwa, where 19 areas were mapped in 2021.

Near the Yukon border, the site consists of the Toro, Bronson, and Neil claim blocks. All three were explored in the early 1970s before rockslides and snowfields brought development to a halt. One vein was developed and partly mined—498,000 tons were milled with a head grade of about 3% copper (Cu).

Eight float samples collected in one valley contained mineralization of up to 40% sulfides. Three contained 5.22% Cu, 2.51% Cu, and 1.58% Cu. The remaining five samples had a copper content of between 0.51% and 0.93%.

Other results from 2021 fieldwork included samples of 27.2% Cu, 7.73% Cu and 6.36% Cu.

'New Power Is Coming'

Copper conducts heat and electricity and is a vital part of the move toward clean energy. EVs use three times as much of it as combustion engine cars do, and solar panels require it, as well.

Demand is expected to rise 16% and outstrip supply by more than 6 million tonnes by the end of the decade, according to independent energy research company Rystad Energy .

'New power is coming, and it is real,' Chen said. 'It is not a fantasy.'

Hawley said he believes Fabled can help supply the needed resources. One goal of the fieldwork at Muskwa has been to determine if past copper estimates were accurate.

'The results were as good as if not better than previously reported,' he said.

The results can even be seen, even without any instruments, Hawley said. He was the one who spotted the possible copper vein from the helicopter during a recent site visit. He had the pilot double back and land.

'You need to look in the right way (from the air), but it has this great big thing going right up the side, which is beautiful,' Hawley said.

Fabled Copper has a market cap of CA$6.95 million with 173.65 million shares outstanding. It trades in a 52-week range of CA$0.07 and CA$0.03.

Disclosures

1) Steve Sobek wrote this article for Streetwise Reports LLC. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Fabled Silver Gold Corp. and Fabled Copper Corp. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Fabled Silver Gold Corp. Please click here for more information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer . This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Fabled Silver Gold Corp. and Fabled Copper Corp., companies mentioned in this article.

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