As the world shifts towards renewable energy, lithium often takes the spotlight for its role in the green energy revolution. However, copper is the unsung hero quietly leading the charge.^1,2

Copper has been indispensable to human progress since prehistoric times, due to its outstanding ductility, malleability, and electrical conductivity. This versatile red metal plays a vital role in various cutting-edge climate change mitigation technologies, including solar panels, wind turbines, and electric vehicles (EVs).

As EV sales continue to skyrocket, the mining industry faces increasing challenges to keep up with the soaring demand for minerals used in their production. EVs alone are expected to require approximately 2.9 million tonnes (Mt) of copper over the next decade, a substantial increase from the nearly 600,000 tonnes needed in 2021.³

In light of this growing demand, one company recently announced promising high-grade copper-zinc drill results from their Newfoundland project.

The company also acquired a large, rare earth element (REE) project nearby, which boasts historical high-grade REE results. These strategic acquisitions position this company as a potentially significant player in the green energy movement, contributing to the global transition towards more sustainable solutions.

With the world’s eyes set on lithium, savvy investors and industry leaders are now looking to the immense potential of copper and rare earth elements (REEs) in the rapidly evolving renewable energy landscape. As the race to secure critical minerals intensifies, copper and REEs stand as key components in the ongoing green energy revolution.

As demand for copper rises, the anticipated supply shortage poses a significant risk to the clean energy transition, emphasizing the urgent need for increased supply.

Goldman Sachs has projected that at least another $150B will need to be invested in copper over the next decade to keep up with surging demand.⁴ They also predict copper prices to jump to $12,000 per tonne by 2024.^.   

After settling in mid-July 2022, copper prices have moved significantly, going from a low of $6,999 per tonne on July 15, 2022, to $9,103 on February 21, 2023.

COPPER PRICE

Simultaneously, the London Metal Exchange entered 2023 with the lowest metal stockpiles in at least 25 years, further intensifying concerns about the availability of copper.⁵

With mounting issues in the world’s top two copper producers, Chile and Peru, it has become increasingly crucial to develop new copper supplies in safe and reliable jurisdictions.

An Exciting REE Opportunity

Rare earth elements (REEs) are a group of 17 chemically similar elements that play a crucial role in the manufacturing of high-tech devices, clean energy technologies, and advanced military applications.

REE demand is steadily increasing due to their widespread use in EVs, wind turbines, smartphones, and other electronic devices. Neodymium and praseodymium are essential for producing high-performance permanent magnets, which are critical components in EVs and wind turbines.

Despite the growing demand, global REE supply has been dominated by China, which accounted for approximately 80% of the world’s REE production in 2021. This supply concentration has raised concerns about the vulnerability of the global REE market to potential disruptions and geopolitical risks, creating an urgent need for diversified and reliable sources of REEs to ensure a stable supply chain and to support the rapid growth of cleantech.

In this context, the recent acquisition of a promising rare earth element project by a company in Newfoundland is a significant opportunity as the global supply-demand imbalance for REEs increases The project, with its historical high-grade REE results, has the potential to contribute to a more diverse and secure supply chain, reducing dependence on China and bolstering the ongoing transition to a more sustainable and technologically advanced future.

Billionaire Eric Sprott Bets Big With a $125M Investment in Newfoundland’s Mining Sector

One project that has captured the attention of billionaire mining investment guru Eric Sprott is the York Harbour Copper-Zinc Project, a mineral property located 27 km from Corner Brook, Newfoundland.

The company working this project has continued to deliver promising assay results from its high-grade copper-zinc project. The most recent results from its fully funded Phase 4 drill program intersected an impressive 8.97 meters (m) at 4.727% copper, 10.195% zinc, 22.69 grams per ton (g/t) silver, and 91.49 g/t cobalt.

The project is so promising that it’s no wonder Eric Sprott owns a significant stake in the company. Additionally, they recently acquired the high-grade Bottom Brook Critical Metals REE Project in Newfoundland, further enhancing its portfolio.

With growing demand for critical minerals like copper, zinc, and REEs, companies like this one are well-positioned to potentially contribute to the global transition towards more sustainable solutions. These strategic acquisitions, combined with the backing of influential investors like Eric Sprott, showcase the immense potential of the projects and the vital role they can play in the ongoing green energy revolution.

High-Grade Newfoundland-Based Copper Project With Blue-Sky Potential

This explorer acquired the past-producing York Harbour Copper-Zinc Project in Newfoundland in early 2021 and began work immediately. The Volcanogenic Massive Sulphide (VMS) project spans 4,725 hectares and comprises historic drilling results from 210 short underground exploration drill holes (10,994 total meters) and 45 surface exploration drill holes (8,235 total meters).

Fast forward two years, they have drilled 110 diamond drill holes totaling over 19,000m and continues to yield very promising high-grade results. In fact, the exploration outcomes keep improving.

The company recently completed its 7,500-meter Phase 4 diamond drilling program, which produced the highest grade of copper-zinc discovered on the project to date in a new area adjacent to previous mine workings.⁶

Highlights from Phase 4 results:

• 97m of 4.7% copper, 10.2% zinc, 22.7 g/t silver and 91.49 g/t cobalt
• 8m of 3.228% copper, 0.123% zinc, 3.90 g/t silver and 270.72 g/t cobalt
• 5m of mineralization grading 1.298% copper, 0.053% zinc, 0.78 g/t silver and 118.47 g/t cobalt
• Three zones of 9.38m (181.9 to 191.28 m) grading 325% copper (including 2.10m grading 10.089% copper and 670.03 g/t cobalt)
• Wide intercept of 12.25m grading 472% copper, 8.404 % zinc, 18.41 g/t silver and 85.47 g/t cobalt

For reference, the average grade for current operating copper mines is just 0.53%, and copper projects being developed average 0.39%.⁷

High-grade copper is often considered anything over 1%, making results at theYork Harbour Project impressive, to say the least.

The project has yielded other exciting results as well. The Phase 1, 2, and 3 drilling programs contributed to expanding the size and scope of the project.

Phase 1-3 Highlights:

Phase 1 drilling confirmed historical drilling results and report grades within the ‘A’, ‘D’, and ‘H’ zones.

• 2m grading 0.85% copper, 0.53% zinc, 1.75 g/t silver, 0.03 g/t gold, and 91.8 g/t cobalt, including 2.60m grading 6.31% copper, 4.6% zinc, 0.01 g/t silver, and 450.65 g/t cobalt

Phase 2 drilling further tested the strike extensions of the VMS mineralization from historical drill logs and Phase 1 drilling.

• 25m of 2.7% copper, 9.0% zinc, 17.78 g/t silver, and 164 g/t cobalt,
• 38m of 1.687% copper, 11.91% zinc, 18.25 g/t silver, and 171.3 g/t cobalt
• 29m of 5.25% copper, 0.801% zinc, 8.97 g/t silver, and 436.5 g/t cobalt.

Phase 3 drilling confirmed earlier drilling results and extended the drill-indicated mineralization both along strike and downdip.

• 77m of 2.86% copper, 6.95% zinc, 20.2 g/t silver, and 436.5 g/t cobalt.⁸

The project is also in an ideal location, close to tidewater, power, roads, and local communities. The property has 14 reported mineral showings.

What to do now…

This company is a well-funded mining company that has a 100% ownership of the York Harbour Copper-Zinc-Silver Project & an 100% ownership of the Bottom Brook REE Project both in mining-friendly western Newfoundland. The projects have both produced impressive high-grade drill results, making it a “goldmine” of sorts for the company.

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