Copper One Resources Corp. (CSE: CEXY) has completed drill hole MHB-40, the second hole of its 2026 Phase 2 diamond drilling program at its 100%-owned Majuba Hill Copper-Silver-Gold Project in Pershing County, Nevada. The hole reached a final downhole depth of 1,615 feet (492 metres), with preliminary core logging identifying possible porphyry D-type veins associated with pervasive phyllic alteration. Combined with the previously completed MHB-39, the Phase 2 program has now drilled a total of 3,075 feet (937 metres), advancing Copper One's objective of working toward an inaugural NI 43-101 mineral resource estimate.

Key Points

  • Copper One Resources Corp. (CSE: CEXY | OTCID: CEXYF | FSE: IW8)
  • Drill hole MHB-40 completed at 1,615 feet (492 metres) depth, the second hole of the 2026 Phase 2 program at Majuba Hill, Nevada
  • Phase 2 program targets up to 10,000 feet (3,048 metres) of diamond core drilling; combined footage with MHB-39 stands at 3,075 feet (937 metres)
  • Investors may be watching for laboratory assay results and further drill hole completions as the program advances

MHB-40 Geological Observations at Majuba Hill

Drill hole MHB-40 was drilled on an azimuth of 030° at an inclination of −55°, reaching 1,615 feet (492 metres). Preliminary core logging identified possible porphyry D-type veins associated with pervasive quartz-sericite-pyrite alteration. The company noted that MHB-39, the first Phase 2 hole, had revealed native copper and copper oxides, while MHB-40 returned possible D-type vein signatures. The company's geologists are evaluating whether these veins represent an upper level of a porphyry system that could guide deeper drilling. All visual observations are preliminary and are not a substitute for laboratory assay results, which remain pending.

Phase 2 Program Scope and Real-Time Drilling Technology

Copper One's Phase 2 program comprises up to 10,000 feet (3,048 metres) of HQ/PQ diamond core drilling, with an initial scope of approximately 5,000 feet (1,524 metres) contracted to Evolve Exploration Nevada, LLC. Operations run continuously on a two-shift, 24-hours-a-day, seven-days-a-week schedule. Evolve's EVX Connect platform provides the company with real-time drilling metrics, digital reporting, drill-hole coordinate tracking, and core photography. The maximum planned hole depth under the initial scope is approximately 1,700 feet (518 metres), with final collar locations and orientations determined by the technical team.

Majuba Hill Project Scale and Exploration Context

Majuba Hill comprises approximately 9,684 acres (3,919 hectares) in Pershing County, Nevada, a jurisdiction that ranked first globally on the Investment Attractiveness Index in the Fraser Institute's Annual Survey of Mining Companies 2025. More than 95,000 feet (28,956 metres) have been drilled across more than 100 holes to date at the project. Copper One's stated objective is to advance Majuba Hill toward an inaugural NI 43-101 mineral resource estimate. No mineral resource or mineral reserve has been established at the project, and additional drilling and technical studies will be required to define the extent and economic potential of the mineralised system.