Copper Giant eyes PEA in Colombia after new mineral resource estimate

Copper Giant Resources Corp. [CGNT-TSXV] has announced the results of an updated mineral resource estimate for its 100%-owned Mocoa copper-molybdenum project in southern Colombia.

The latest estimate classifies indicated resources at Mocoa for the first time, expands the inferred resource to 1.60 billion tonnes and increases the total contained copper by 50% in comparison to the previous estimate released in November 2025.

The new estimate includes an indicated resource of 290 million tonnes at 0.54% CuEq (copper equivalent) (0.33% copper, and 0.38% molybdenum), containing 2.13 billion pounds of copper and 240 million pounds of molybdenum. On top of that is an inferred resource of 1.60 billion tonnes at 0.40% CuEq (0.27% copper, and 0.025% molybdenum), containing 9.36 billion pounds of copper and 0.89 billion pounds of molybdenum.

The inferred resources include 120 million tonnes at 0.48% CuEq (0.34% copper and 0.025% molybdenum) below the conceptual pit shell, the first reported within potentially mineable underground shapes.

The preliminary economic assessment (PEA) the first assessment of Mocoa’s development case is built on this mineral resource estimate and will be filed during the fourth quarter of 2026. The company said the conceptual pit shell and the potentially mineable shapes lie entirely outside any forestry reserve and outside any community.

Copper Giant shares moved higher Wednesday, rising 1.9% or $0.02 to $1.07. The shares trade in a 52-week range of $1.48 and 19 cents.

Copper Giant is an America’s-focused exploration company with a collection of porphyry copper deposits located in British Columbia, Argentina and Colombia.

With backing from financier Frank Giustra’s Fiore Group, Copper Giant is developing the Mocoa copper-molybdenum porphyry deposit, which is located 10 kilometres from the town of Mocoa. The company’s district scale holdings cover 1,000 square kilometres, an area that is 290 times bigger than New York’s Central Park. Company documents say Giustra holds an 11% stake in the company.

The company said the new mineral resource estimate is based on 8,546 metres drilled since the 2025 estimate. Approximately 10,000 additional metres completed since the data cut-off date are not included in these numbers.

“Last November, Mocoa crossed a billion tonnes,’’ said Copper Giant President and CEO Ian Harris. “This estimate does two things to that deposit: It upgrades 290 million tonnes in the near-surface core to the higher confidence category, and it grows the inferred resource to 1.6 billion tonnes,’’ he said. “Mocoa is now better defined and larger than it was a year ago, and the PEA on plan for this quarter is the first look at how that scale becomes a development project.’’