CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) Stock Surges After EDGI Co-Funding

Those who may be hunting for momentum stocks could consider keeping an eye on CopperCorp Resources Inc. (TSXV: CPER) (OTCQB: CPCPF) this morning. This past Friday, the stock gained strong momentum after the company announced that it had been awarded a co-funded grant for drilling activities at the Jukes prospect at its Razorback Copper-Gold-REE property located in Tasmania, Australia.

CopperCorp Awarded EDGI Co-Funding for Initial Jukes Cu-Au Prospect Drill Program

The company owns the property in its entirety. The grant in question had been awarded under the provisions of the Tasmanian Government’s Exploration Drilling Grant Initiative (EDGI) program. In the news release, CopperCorp Resources noted that it had applied for the funding so as to finance the drilling of a pair of 200-meter-deep diamond core drill holes at the above-mentioned property.

The grant would enable the company to seek a total refund of a maximum of A$70000 from half of the direct drilling costs that would be incurred in the operation. It should be noted that the grant would be open to the company once the funding agreement is signed.

Previously, CopperCorp Resources had reported that it had begun diamond drilling at the Jukes property in September, and the drilling at the first drill hole was completed to 214 m in terms of depth. The grant is based on merit and could be seen as a demonstration of the sort of work accomplished by CopperCorp Resources in Tasmania thus far.

CEO Comment

Stephen Swatton, President and CEO of CopperCorp, commented, ‘The company is delighted to receive this grant from the Tasmanian Government. The grant is merit-based and is testament to the quality of the work being undertaken by the CopperCorp team in Tasmania and to the importance of mining, and in particular the development of ‘climate transition metals’ such as copper, to the economy of the State of Tasmania’.