Copper One Resources (CSE:CEXY) has entered into an amended agreement and begun the closing process to acquire the Majuba Hill Copper-Silver-Gold Project in the US.
The transaction now includes a US$1.3 million ($1.85 million) cash payment, representing a US$2.7 million reduction in the original price.
CEO David Greenway says full ownership of Majuba Hill provides the company with increased flexibility to advance exploration activities, refine drill targeting, and evaluate future development opportunities.
“We believe the project represents a significant exploration opportunity in Nevada, a leading mining jurisdiction, at a time when global demand for copper continues to be driven by electrification, power infrastructure, advanced manufacturing, data centres, and energy transition initiatives,” Greenway says.
“As concerns regarding a looming copper shortage continue to be discussed across the industry, we believe that consolidating ownership of Majuba Hill strengthens Copper One’s position to advance the project.”
The Majuba Hill Project, covering 9,684 acres, is located in Pershing County, Nevada. It is a historical producer with a substantial exploration dataset, including 89,395 feet of drilling completed to date.
Exploration work at Majuba Hill has identified indications of a potentially large copper, silver, and gold mineralised system, with geological characteristics consistent with porphyry-style copper mineralisation.
Copper One Resources is focused on advancing copper, silver, and gold projects in North America.
Write to Aaliyah Rogan at Mining.com.au
Images: Copper One Resources
