Copper One Completes Second Hole of Phase 2 Drilling at Majuba Hill, Hits Possible Porphyry Veins

What Copper One Found in Hole MHB-40 at Majuba Hill

Copper One Resources Corp. has completed the second hole of its 2026 Phase 2 diamond drilling program at the Majuba Hill copper-silver-gold project in Pershing County, Nevada. Hole MHB-40 was drilled to a final depth of 1,615 feet (492 meters) at an azimuth of 030° and a dip of -55°. Together with the previously completed hole MHB-39, the two holes account for 3,075 feet (937 meters) of the up-to-10,000-foot program.

During preliminary core logging, the company's geologists identified possible D-type porphyry veins associated with widespread phyllic alteration — a rock alteration characterized by quartz, sericite and pyrite. In porphyry exploration, such features can indicate the upper part of a mineralized system, and Copper One says it is now assessing whether these veins mark a higher level of a porphyry system that could guide deeper drilling. The company also reported previously observing native copper and copper oxides in MHB-39.

These observations are visual and preliminary. Copper One explicitly cautions that visual identification is not a substitute for laboratory assay results, which are still pending. The Phase 2 program, contracted to Evolve Exploration Nevada, LLC, is designed to accelerate systematic testing of priority targets and to move Majuba Hill toward a maiden mineral resource estimate prepared under National Instrument 43-101. More than 100 holes totaling over 95,000 feet have been drilled at the project historically.

Reading the Drill Core: What Copper One's Phase 2 Results Do and Don't Show

What the MHB-40 Core Actually Tells Us

The headline finding is geological, not economic. Possible D-type veins with quartz-sericite-pyrite alteration are a recognized vector in porphyry systems — they often sit above or around the higher-grade core — but the identification is visual and preliminary. Until assay results return, there is no grade, no width and no tonnage. Copper One itself flags that the observed veins could reflect a later alteration event, that the system could be tilted or displaced, and that further drilling might not intersect a mineralized center. Investors should treat this as a targeting update, not a discovery.

Where Majuba Hill Sits in Copper One's Portfolio

Majuba Hill is the company's flagship asset, and the Phase 2 program is the main value driver for a junior explorer of this size. The company also holds the Redonda copper-molybdenum project in British Columbia, an option on the Redhill VMS project, and the Sport project in Utah. CEO David Greenway framed the drilling as part of a broader North American copper push, noting that developing new copper deposits takes years and that today's work helps decide which targets justify further drilling. That framing is realistic for the stage: this is a multi-year de-risking process, not a near-term production story.

Why Nevada and Why Copper Now

For context, copper demand is being pulled by electrification, data-center buildout, renewables and grid modernization — the same end-markets Copper One cites in its own positioning. Nevada ranked first globally in the Fraser Institute's 2025 Investment Attractiveness Index, and Majuba Hill benefits from year-round access roads, nearby power and water, and a local mining workforce. That infrastructure advantage matters for a junior: it lowers the cost and time required to keep drilling. The EVX Connect platform, which provides live drill data and digital logging, is a modest but real efficiency gain for a company running two shifts around the clock.

What to Watch Next

The decisive catalysts are assay results from MHB-39 and MHB-40, the pace at which the remaining Phase 2 footage is drilled, and whether the geological model continues to support a maiden NI 43-101 resource estimate. Any resource estimate would be a step-change in how the market values Majuba Hill, but it remains a future objective, not a current fact. For now, the story is one of incremental technical progress by a small explorer with a large land package and a long drilling history.