Brought to you by BULLS N’ BEARSAndrew ToddJune 18, 2026 — 1:58pmIn a savvy diversification move, Flagship Minerals has planted a copper flag in Canada by acquiring the Whipsaw project in British Columbia and gaining exposure to a potential billion-tonne-scale system in a tier-one jurisdiction.The company says its shiny new project features a big porphyry copper system, 160 kilometres east of Vancouver and, notably, just 17km west of Hudbay Minerals’ massive 16-million-tonne-per-annum Copper Mountain mine.Flagship Minerals’ newly acquired Whipsaw copper project in British Columbia, Canada, just 17km from Hudbay Minerals’ fabled Copper Mountain mine.Under the terms of the deal, Flagship has so far paid A$350,000 for an option over Whipsaw and must pay a total of A$6.5 million in the next two years, comprising shares and cash. Upon completion, Flagship will own the project outright, excluding a small two per cent net smelter royalty (NSR), half of which can be bought back for an additional $3 million.A milestone payment of $5 million is also payable upon the generation of a 300 million tonne JORC resource with an average grade of 0.4 per cent copper equivalent – at which stage the value will well and truly be added.‘We believe large-scale copper projects in Tier-1 jurisdictions will become increasingly valuable.’Flagship Minerals managing director Paul LockFlagship says a wealth of historical drilling, geological mapping, soil sampling, and surveys have already underpinned a whopping preliminary JORC exploration target for Whipsaw, ranging from 500 million to 1.02 billion tonnes at a grade of 0.2 per cent to 0.4 per cent copper equivalent.The mineralised system at site already extends for 3.7km in strike length and up to 1.2km in width and remains open, suggesting the billion-tonne target could be just the beginning.The company points out that as global copper grades decline and new discoveries become increasingly hard to find, a $6.5 million copper porphyry pick-up like Whipsaw will become increasingly valuable in a white-hot copper market.Geologically, the Whipsaw project sits within the Copper Mountain intrusive suite of the Canadian Cordillera. This incredibly well-endowed mineral province provides a compelling geological analogue to the fabled Copper Mountain.The mineralisation is described as classic copper porphyry style – a monster tonnage style deposition - with chalcopyrite, bornite and pyrite (sulphide-rich minerals) occurring in disseminations, veins and fractures.Flagship says the acquisition, whilst major, aligns with its broader strategy to increase its exposure to the robust copper market, while continuing to advance its flagship Isidora gold project in Chile.This dual-asset approach gives the company two significant shots on goal in two of the world’s most sought-after regions and commodities. The company says it may also consider a potential spin-out of the massive Whipsaw into its own dedicated ASX-listed copper vehicle, if the numbers start to stack up.Flagship Minerals managing director Paul Lock said: “We are extremely pleased with the agreement we have struck to acquire the Whipsaw copper project. As global copper grades decline and new discoveries become increasingly difficult to find, we believe large-scale copper projects in Tier-1 jurisdictions will become increasingly valuable.”While Whipsaw grabs the headlines, Flagship’s existing Isidora gold project in Chile remains the priority. Positioned in the prolific Maricunga gold belt, Isidora already hosts a substantial 2.1-million-ounce resource grading 0.54 grams per tonne (g/t) gold, with considerable room for exploration upside. The company is currently advancing a scoping study at the project, aiming to define a low-cost, bulk-tonnage gold operation.Flagship says it will now get to work on a technical review of Whipsaw, while assessing spin-out and funding options and mapping out the next round of drilling to test the project’s considerable scale. A diamond drilling program of 15 holes has already been proposed to test the geological assumptions and the historical copper readings.With a major gold project progressing towards development in Chile and a new, potentially company-making copper project in Canada, Flagship is building a formidable portfolio. The potential spin-out of the Whipsaw asset could unlock value for Flagship shareholders and provide a clear pathway for both bulk tonnage projects, potentially producing paydirt.Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.auFrom our partners