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Intersection of Copper and Electric Vehicles Presents Opportunity for CAVU
ORLANDO, Fla., Sept. 27, 2021 (GLOBE NEWSWIRE) -- In preparing today’s Emerging Markets report about CAVU Mining Corp. (CSE: CAVU) (OTC: CAVVF) (FSE: 8NQ), a mining company engaged in the acquisition, exploration and development of mineral projects containing metals used in green technologies and the renewable energy sector, we were pleased to see the Company’s clear focus on copper exploration.
The reason is simple: copper is an essential material in the Electric Vehicle (EV) revolution. According to this detailed report from venerable Reuters, copper will have a significant role in the standardization of EV’s. It is often used as the wiring component of electric cars due to its superior conductivity.
From the report:
Electric vehicles use more than double the copper of an internal combustion engine automobile, and the metal is also used heavily in EV infrastructure
Sales of electric and hybrid vehicles in the U.S., Europe, and China have increased for each of the last 10 years
Most long-term projections for the adoption of Electric Vehicles are compelling, with President Biden and the current administration intent on 50% of American vehicles sold by 2030 to be of electric power. (source here)
Copper’s role in this evolution will be critical. This report by CME Group details the need for copper in EV’s, pointing out that on average, Hybrid Electric Vehicles (HEV) will use 85 lbs. of copper, Plug-In Hybrid Electric Vehicles (PHEV) around 132 pounds, and Battery Electric Vehicles (BEV) need a whopping 183.
This explains CAVU’s positioning with two separate copper exploration projects in their portfolio. Along these lines, the Company just dropped an overview of their 2021 drilling campaign in the Yukon, particularly in an area they are calling the “Copper Castle.”
A quote from Jaap Verbaas, CEO of CAVU, puts a bow on the significance and exploration opportunities.
“We are very happy with the results of the drilling on the Hopper. Despite border restrictions and supply chain issues, which are amplified in Canada's north, CAVU drilled 1119m in six holes. The first five holes increased the footprint of Copper Castle considerably. The sixth hole intersected the low-grade shell normally found around mineralized porphyry cores. This hole represents a major development on the project as it proves the occurrence of a mineralized porphyry. These holes lay the foundation for a larger program in 2022 during which we will vector towards the center of the porphyry target and further increase the Copper Castle footprint."
If these successes continue, expect CAVU’s copper projects to become potentially important to the ever-expanding Electric Vehicle market.
For more information, visit www.cavumining.com
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