Wedoany.com Report on Feb 3rd, Canadian mining company Copper Giant Resources Corp. has made new progress at its Mocoa copper-molybdenum project in Putumayo, Colombia. Recent assay results from drill holes MD-053 and MD-054 show that copper mineralization at the deposit extends from surface to depth, confirming the continuity and expansion potential of the ore body.

Drill hole MD-054, starting at a depth of 367 meters, intersected a 61-meter high-grade zone assaying 0.61% CuEq within a broader 253-meter interval averaging 0.40% CuEq. This result exceeded expectations from the existing resource model for the area, which was previously considered low-value due to sparse shallow drilling. The company stated that this hole confirms the strength of mineralization at the southern edge of the deposit.

Drill hole MD-053, while intersecting relatively lower-grade mineralization, confirmed the extension of the Mocoa porphyry system to the La Estrella target. This hole intersected a 117-meter interval grading 0.07% CuEq, which included a 16-meter section grading 0.10% CuEq.

Edwin Naranjo Sierra, Vice President of Exploration, stated in a news release: "The 2025 work program has established a significant milestone for the Mocoa project. Through systematic drilling and geological studies, the project's resource base has surpassed one billion tonnes. With these results, we conclude a successful exploration year and enter 2026 with a refined geological model and clear growth vectors."

The 2025 drilling program completed a total of approximately 11,400 meters, achieving the company's stated objectives. The Mocoa project is a Jurassic porphyry copper-molybdenum deposit with mineralization extending over 1,000 meters depth and remaining open in all directions.

According to a Red Cloud Securities research report from November 2025, the updated inferred resource stands at 1.12 billion tonnes grading 0.51% CuEq, containing 12.7 billion pounds of copper equivalent at a 0.25% CuEq cut-off grade. Compared to the 2022 resource estimate, this represents a 76% increase in tonnage, a 14% improvement in copper equivalent grade, and a 101% increase in contained metal. The report noted: "This equates to adding 671,000 pounds of CuEq per meter drilled."

The firm maintained a "Buy" rating on the company with a target price of C$1.40 per share. The report mentioned applying a conservative multiple of 0.40x to reflect the resource category and project risk, with this target price implying a potential return of approximately 391%. The report also stated: "Much of the optimized pit shell remains undrilled and is currently classified as waste, providing a direct opportunity for future resource growth."

Copper Giant reported an updated NI 43-101 Mineral Resource Estimate as of November 18, 2025, with inferred resources increasing to 1.12 billion tonnes grading 0.51% CuEq. The 2025 work expanded and refined several high-grade domains within the porphyry, including a third high-grade core that remains open both laterally and at depth.

Exploration confirmed extension trends beyond the current limits, including the northward expansion of the breccia zone, as well as mineralization extending east and to depth. Drill hole MD-054 upgraded an area previously modeled as waste, while MD-053 confirmed the system's continuity towards La Estrella.

Preliminary laboratory flotation test results outperformed the assumptions in the current resource model, with copper recoveries as high as 92% and molybdenum recoveries reaching 97%. Although the 2025 drilling program is complete, two drill rigs remain active on site. The company is advancing its fully permitted 2026 drilling program, including infill and step-out drilling. Other de-risking activities are ongoing, such as environmental baseline studies, hydrogeological and geotechnical assessments, and permitting work to support future development.

The company's ownership structure shows management and insiders holding 14.34%, with Frank Giustra holding 12.55%, and the remainder held by the public. Copper Giant has 154.95 million shares outstanding, a market capitalization of approximately C$69.43 million, and a 52-week trading range of C$0.15 to C$0.79.