Northwire Canada EditionFriday, September 4, 2026
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GOLD 4539.90 +2.8% SILVER 67.58 +3.2% COPPER 6.67 +1.1% OIL 91.30 +0.3% PALLADIUM 1435.50 +5.5% SALT 1.65 +0.0% BBB 0.670 +3.1% SKE 45.71 +4.0% NOU 1.91 −4.0% LAM 0.660 +6.5% OGW 1.29 −5.2% COCO 0.300 +0.0% CPL 0.195 −11.4% FUU 0.145 −3.3% NUAG 9.25 −0.1% FDY 5.14 −1.9% GRZ 6.66 +0.1% TES 0.110 +10.0% MINK 0.100 +0.0% CAN 0.080 +0.0% ELEF 0.135 −12.9% GOLD 4539.90 +2.8% SILVER 67.58 +3.2% COPPER 6.67 +1.1% OIL 91.30 +0.3% PALLADIUM 1435.50 +5.5% SALT 1.65 +0.0% BBB 0.670 +3.1% SKE 45.71 +4.0% NOU 1.91 −4.0% LAM 0.660 +6.5% OGW 1.29 −5.2% COCO 0.300 +0.0% CPL 0.195 −11.4% FUU 0.145 −3.3% NUAG 9.25 −0.1% FDY 5.14 −1.9% GRZ 6.66 +0.1% TES 0.110 +10.0% MINK 0.100 +0.0% CAN 0.080 +0.0% ELEF 0.135 −12.9%
Technical Study Routine +

US Copper Announces Positive Locked Cycle Test Results from Metallurgical Testwork at the Moonlight-Superior Copper Project

US Copper Corp validates metallurgy for its project, advancing toward a preliminary feasibility study while continuing a dilutive financing cycle.

By The Northwire Desk — AI Analysis Jun 17, 2026 · 08:01 USCU · 0.155 US Copper Corp.
Executive Summary
  • US Copper Corp announced positive locked cycle test results from metallurgical testwork at the Moonlight-Superior Copper Project.
  • Resource average master composite yielded a copper concentrate grading 24% Cu, 1.2 g/t Au, and 178 g/t Ag.
  • Achieved 91% copper, 74% gold, and 78% silver recovery, validating the recovery assumptions used in the Preliminary Economic Assessment (PEA).
  • Open circuit variability tests across 8 samples averaged 84% copper recovery at 24% Cu concentrate grade.
  • The optimized conventional flowsheet supports the company's timeline to finalize metallurgical testing and advance a Pre-Feasibility Study (PFS) over the next 12 months.
  • Impurities are low (SiO2 13%, Arsenic 0.27%, Mercury <1 ppm, MgO 0.40%), indicating a marketable concentrate.
Material Impact
  • The news is a routine positive update that confirms previously disclosed PEA metallurgical assumptions.
  • It does not introduce new economic data, revised resource estimates, or changed capital/operating cost guidance.
  • The primary impact is procedural: it clears a technical hurdle to initiate the PFS, which is a standard next step in project development.
  • Given the company's history of frequent small-cap dilutive financings at $0.10, this technical validation is expected and incremental rather than market-moving.
  • The stock price has already consolidated in the $0.15-$0.17 range, suggesting the market has priced in this development phase.
USCU · Price
Company Overview
  • US Copper Corp is focused on developing the Moonlight-Superior Copper Project in Plumas County, California.
  • The project consists of three surface-open deposits: Moonlight, Superior, and Engels.
  • The 2025 PEA outlines a 14-year life-of-mine operation producing an average of 60 million lbs of copper annually (1.8 billion lbs total).
  • Key PEA metrics include an initial capital cost of US$956 million, operating costs of US$7.77/short ton, and a post-tax IRR of 23% with a post-tax NPV(7%) of US$1.075 billion at $4.15/lb Cu.
  • The project aims to leverage existing regional infrastructure (highways, rail, power, water) to supply domestic U.S. copper demand.
Read the original news release →

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