Highland Copper Reports 46% Increase in Measured and Indicated Resources at Company’s Copperwood Project

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, October 19, 2017

Shares of Highland Copper Company Inc. (TSX-Venture:HI) are on the move higher as the company announced an updated Mineral Resource estimate for its 100%-owned Copperwood Project located in Gogebic County, in the western Upper Peninsula of Michigan, U.S.A.

The updated Mineral Resource estimate represents a 46% increase in Measured and Indicated Resources compared to the previous resource estimate dated April 15th, 2015. The new resource is estimated at 42.5 million tonnes grading an average of 1.59% copper and 3.9 g/t silver containing 1.5 billion pounds of copper and 5.4 million ounces of silver in the Measured and Indicated Resource category, using a cut-off grade of 1.0% Cu.

News of the updated Mineral Resource had investors hitting the buy button to the tune of a gain of 12% in late-morning trading as the stock climbed $0.015 to $0.14. With today’s news, shares are touching two-month highs. Should resistance at $0.14 be taken out, there is the potential for further gains, at least from a technical perspective.

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