​Overview
The demand for copper is expected to grow a whopping 600 percent by 2030, according to Goldman Sachs. However, the estimated 5.4 million tons in expected demand will not be met without new production. This anticipated supply gap has pushed copper prices to all-time highs including copper price estimates as high as C$5.25 per pound for the end of 2021, according to CIBC.
The exploding demand for copper stems from the fact that it is the most widely used metal in renewable energy and is considered a cornerstone for all electricity-related technologies, according to IEA. Its unique electrical conductivity places it above other metals such as aluminum, nickel and zinc. The recent all-time high prices of copper coupled with further price growth make copper investments a highly attractive opportunity for investors.
Fabled Copper (CSE:FABL) is well-funded, the recently announced 6 million dollar financing was oversubscribed and resulted in the financing closing at 6.9 million. Fabled Copper Corp is an early-stage exploration company focused on exploring, identifying and acquiring copper in highly prospective regions in Canada and through the use of its cutting-edge technology. The company is led by a strong management team with over 20 decades of combined experience and proven track records in mining, exploration and financing.
Fabled Copper is the result of increasing shareholder value from its parent company Fabled Siler Gold by becoming a public company to explore its copper assets.
The company is now under a new and highly experienced management team, including current management members of SSR Mining Inc. (TSE:SSRM) and GFG Resources Inc. (CVE:GFG) and a co-founding member from Niogold Resource Corporation (CVE:NOX) which is now known as Osisko Mining (TSE:OSK).
Fabled Copper owns multiple claim blocks in northern British Columbia, including Davis-Keays, Churchill Copper, Fort Reliance, David-Keays North (Okey), Bronson, Windermere and Toro-Churchill. All of the company’s claims are located near the town of Fort Nelson in a world-class and mining-friendly jurisdiction with significant historical copper production on the copper belt.
The company’s project includes impressive copper reserve estimates and grades with limited historical exploration. Copper reserves are estimated to be as high as 1,424,007 tonnes with grades as high as 10.2 percent across all of the company’s BC properties.
The company’s claims in British Columbia are located near several producing mines and deposits. Located near the decommissioned Bell Mine that was previously owned by Glencore PLC (LON:GLEN), the Bell mine has historically produced 667 million pounds of copper, 0.4 million ounces of gold and 2.2 million ounces of silver.
Fabled Copper has a strong foundation for growth with the use of its cutting-edge technology and modern exploration tools for expanding the known mineralization zones. The company believes there is significant blue sky potential based on positive diabase mapping results. The company is confident that the size of the historical resource will increase with systematic exploration. The company also has strong support from First Nations communities which is crucial to the development of any mining program.
Fabled Copper recently closed an oversubscribed financing round of C$6.9 million, despite a goal of only C$6 million. The company plans to use its strong cash position to fund operations on its projects, including helicopter support, field crews, sample assays, drone surveys, compilation work and working capital and general corporate purposes.
Fabled Copper has already completed extensive exploration work, including GIS compilation, satellite imagery interpretation and localized field observations on the Toro property. The company has also integrated historical mapping from 1970 with high-resolution satellite imagery on the Bronson property which led to a new diabase interpretation. Fabled Copper has also completed a sample catchment basin analysis, regional targeting and regional airborne geophysics to define the target mapping area.
Fabled Copper is in the process of conducting further field and exploration work on the British Columbia properties and drilling work on the Mexico property. The company has deployed a field crew of 10 people, including geologists and geophysicists in British Columbia who are sampling, mapping and conducting drone work on both pre-existing and potential new copper occurrences and deposits. A property scale airborne gravity survey is also being considered for targeting purposes.
The company plans to begin a drilling program on the BC properties in the summer of 2022 based on the sample results from the 2021 exploration program regarding drill collar locations. Moving forward, the company plans to release footage and assay results from exploration to drilling as they are obtained.
​Company Highlights
- Fabled Copper is an early-stage exploration and development company focused on exploring, identifying and acquiring copper in highly prospective regions in Canada and Mexico through the use of its cutting-edge technology.
- Fabled Copper owns multiple claims in northern British Columbia, including Davis-Keays, Churchill Copper, Fort Reliance, David-Keays North (Okey), Bronson, Windermere and Toro-Churchill. The properties are located in a mining-friendly jurisdiction with significant historical copper production near several producing mines, including the Bell Mine which has produced 667 million pounds of copper.
- Copper reserves are estimated to be as high as 1,424,007 tonnes with grades as high as 10.2 percent across all of the company’s British Columbia properties.
- The company is currently in the process of completing exploration and plans to begin a drilling program on the British Columbia properties in the summer of 2022.
- The company is led by a strong management team with over 200 years of combined experience and proven track records in mining and exploration.
​Key Projects
The Muskwa Project
The Muskwa property is composed of three separate claim block which are Neil, Toro and Bronson.
Neil Vein
The Neil vein has been traced over a strike length of 1185 metres and a vertical extent of at least 579 metres. The vein has only been examined part way down the mountain and appears to continue another 1000 metres to the valley floor. The vein follows a northeast trending shear which is approximately 1100 metres long, 30 metres wide and 1500 metres vertical.
Toro-Churchill
The Toro-Churchill district property consists of the Toro, John, Ho and Churchill veins. The Toro vein contains copper grades of 2.95 percent. The Toro vein width was measured at 2.4 metres, a minimum length of 1,830 metres and a minimum vertical extent range of 500 to 1,000 metres. The Churchill vein contains copper grades of 1.5 percent and could be an extension of the Toro vein which is 3,000 metres north. The Churchill vein width was measured at 3.91 metres and a minimum length of 3,000 metres. There are also four unexplored veins in the Toro area.
From 1967 to 1969, previous owners conducted underground drilling and development which led to a proven and probable mineral reserve of over 1 million tonnes and copper grades of 3.92 percent including a 20 percent dilution factor. From 1970 to 1975, development led to the production of 14,673 tonnes of recovered copper. The copper was extracted from 498,132 tonnes of milled ore which established a copper grade of 2.95 percent. It was estimated that only 42 percent of the original reserve estimate was mined when the mine closed.
The property has copper grades of 8.8 percent, gold grades ranging from 0.34 to 0.68 percent and silver grades ranging from 3.4 to 6.8 percent based on rock sampling. However, a historical sample on the property found copper at 18.9 percent and cobalt at 0.295 percent with historical grab samples indicating copper as high as 42 percent.
Bronson
The main vein on the Bronson district property is Bronson. The copper grades found on the property were 9.2 percent based on 18 samples from eight veins. The Bronson vein width was measured at 1.43 metres and a minimum length of 1,400 metres. There are also eight other unexplored veins.
The property was previously assessed in 1991 in which potential copper grades were estimated to be 2 to 3 percent of 13,600,000 tonnes of copper. The previous assessment included potential gold grades up to 5.83 gpt and potential silver grades up to 116.6 gpt.
David-Keays
The main veins on the David-Keays district property include Eagle and Harris. The Eagle vein includes historical reserves of 1,424,007 million tonnes of copper at 3.42 percent grades above the 6400 level. The Eagle vein width measured at 2 metres in width, a minimum length of 1200 metres and a minimum vertical extent of 427 metres. The Eagle vein is also characterized as quartz-carbonate with chalcopyrite mineralization. The Harris vein has copper grade ranges from 3.77 percent to 7.73 percent. The Harris vein width measured between 1.25 to 2.25 metres and a minimum length of 150 metres. There are also 18 unexplored veins on the David-Keays property.
The historical indicated reserve on the David-Keays property is 3.7 million tonnes at a 2.5 percent cut-off grade of copper. The estimated reserve on the property is 1.4 million tons with grades of 2.5 percent copper. Historical sampling on the property in 1992 found copper as high as 24.32 percent in the Eagle vein.
Churchill Copper
The main vein on the Churchill Copper district property is Magnum measured at 2.4 metres in width, a minimum length of 853 metres and a minimum vertical extent of 365 metres. Mined ore on the property is 498,000 tonnes with copper grades of 3 percent. Historical reserves of copper are 1,068,674 tonnes with grades of 3.92 percent.
The property was mined from 1970 to 1973.
Fort Reliance
The main vein on the Fort Reliance district property is the Reliance vein. Historical reserves include 214,000 tonnes at grades of 5.5 percent. The Reliance vein width was measured at 2 metres.
Drilling conducted in 1973 on eight holes on the property revealed 3.4 percent of copper over 1.5 metres.
David-Keays North (Okey)
The main vein on the David-Keays North (Okey) district property is Neil. The vein width was measured at 3 metres, a minimum length of 1,186 metres and a minimum vertical extent of 380 metres.
The breccia found on the property was observed in 1971 with copper grades of 4.8 percent. Historical work involving trenching over 40 metres revealed IOGC Breccia with copper grades of 8 percent. In 1990, it was estimated the potential economic grade was 1,235,000 tonnes.
Fabled Copper traced the Neil vein over a strike length of 1185 metres and a vertical extent of at least 579 metres. Assays from a deep trench that cross-cuts the Neil breccia showed a copper grade range from 3.4 to 10.2 percent. Exploration conducted by the company, including a high-level MAG survey on the property which found structural blocks and a deep-seated magnetic body with shallower linear bodies and dykes.
​Management Team
Peter Hawley – CEO, Director
Peter Hawley is the co-founder of Fabled Copper which is now Fabled Silver Gold Corp. Hawley is also the founder of Scorpio Mining Corporation (renamed Americas Gold and Silver Corporation). Hawley is also the founder of Scorpio Gold which is a Nevada open pit gold producer. Hawley is also a co-founder of Niogold Resource (renamed Osisko Mining). He has over 35 years of mining industry experience that spans grassroots exploration through to development and production.
David Smalley – Director
David Smalley is a corporate finance and securities lawyer who has practiced for 28 years. He has been a director and officer of public companies for over 19 years. Smalley was one of the founders of Canaco Resources.
Luc Pelchat – Director
Luc Pelchat is the founder and president of the Canadian Chamber of Commerce in North Mexico. Following 24 years with a Canadian multinational company operating in the construction industry, Pelchat formed a number of his own companies and has realized multiple projects in the construction industry in Mexico.
Louis Martin – Director
Louis Martin has been a major contributor to the co-discovery of several gold and base metal deposits during his more than 35-year-long career working for major, mid-tier and junior mining companies. His experience includes exploration and development roles throughout Quebec, Ontario and British Columbia. Martin has been fortunate to be part of the exploration teams that were awarded the Discovery of the Year by the AEMQ (Quebec Mineral Exploration Association) for the West Ansil Deposit (2005) and the Louvicourt Deposit (1989). He brings a wealth of technical experience that spans from generating and managing projects, to advanced project studies and mine development.
Pat Donovan – Director
Pat Donovan is a retired geologist with over 30 years of experience in mineral exploration and project development. Donovan is a former director of the Prospectors and Development Association of Canada. He was the Vice President of Corporate Development with Detour Gold Corp.
From 1991 to 1996, he was responsible for all Québec exploration activities at Placer Dome Canada. From 1999 to 2006, Donovan managed advanced exploration projects, including Tulawaka and Buzwagi, in Tanzania with Barrick Gold Corporation. From 2006 to 2008, Donovan managed and delivered positive feasibility studies for both the Chinese and Canadian requirements at Hunter Dickinson Inc. He worked on the Xietongmen copper-gold project in Tibet, China for Continental Minerals Corporation. Donovan also previously worked for Consolidated Trillion Resources Ltd. during which he managed all exploration programs in Zimbabwe. He is also a graduate of St. Francis Xavier University with a major in Geology.
Brian R. Booth – Advisor to the Board
Brian R. Booth brings more than 30 years of experience in mineral exploration throughout Canada, Europe and Southeast Asia. Brian was previously CEO and board member of Pembrook Copper Corp., where he developed the copper resource at Pecoy in Peru. He also served as the CEO, president and director of Lake Shore Gold Corp., where he completed an acquisition of the Bell Creek mine and mill and led the team that discovered the Timmins West, Thunder Creek and Bell Creek deep deposits. Booth began his career as a geologist on the Casa Berardi gold discoveries in Quebec. He opened Inco’s exploration office in Val d’Or, Quebec and is credited with the discovery of the Douay West gold deposit in 1990 and was subsequently appointed to the board of Societe D’Exploration Miniere Vior Inc. In 1994, as Inco’s Manager Exploration in Eastern North America, he conducted the preliminary assessment of the Voisey’s Bay Ni-Cu-Co discovery. Booth later managed Inco’s exploration office in Jakarta and was involved, through a JV with Highlands Gold, in the discovery of the Beutong copper-porphyry in Sumatra. He holds a B.Sc. in Geology from McGill University and is also a member of the Professional Geoscientists of Ontario. Booth is also a director of SSR Mining Inc. and GFG Resources Inc.