QC Copper intersected between 16 and 55 metres, true-widths of sulphide mineralization adjacent to the historical Robitaille Mine trend.
Drill program aimed at step-out drilling to define new resources with open pit potential
Very little drilling has been done into the Gwillim Fault Complex, the dominant regional structure extending over 15 kilometres within QC Copper's Opemiska Property
Opemiska Property and the district at large have not been adequately evaluated in the context of open pit minable material
Toronto, Ontario--(Newsfile Corp. - February 14, 2024) - QC Copper and Gold Inc. (TSXV: QCCU) ("QC Copper" or the "Company") is pleased to announce that it has completed an initial four-hole drill program on the Cooke and Robitaille mines corridor, adjacent the Opemiska Open Pit, which was defined as deposit Canada's Highest Grade Open Pit Copper Deposit, as per its Mineral Resource Estimate published on January 8, 2024.
The visual results from this drill program confirm significant widths of mineralization. Although assays are pending, the Company's experience in the district defining open-pit type material these results are encouraging. This drill program targeted step-out areas of interest that could contain new resources with sufficient widths for open-pit mining. Very little drilling into the Gwillim Fault Complex has been done, and the structure extends over 15 kilometres within the greater Opemiska Project Property.
"QC Copper is just starting to evaluate and define near-surface resources beyond what is currently in our open pit. Over the past few years, our focus has been almost exclusively on delineating the current open pit. Now, we can pivot towards new growth as we have always seen significant resource expansion possibilities beyond our open pit. This includes the well-understood Cooke and Robitaille Mines and many other targets along the 15-kilometre stretch of the Gwillim Fault on our 25,000-hectare property. The Chapais-Chibgouamau district has traditionally been mined underground, however, QC Copper's results on our open pit demonstrate the opportunity for further reinterpretation, growth, and discovery," said Charles Beaudry, P.Geo and géo., Director and Vice President Exploration for QC Copper & Gold, a Qualified Person, as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects
The Opemiska Copper Complex is adjacent to Chapais, Quebec, within the Chibougamau district. Opemiska is also within the Abitibi Greenstone Belt and within the boundaries of the Province of Quebec's Plan Nord, which promotes and funds infrastructure and development of natural resource projects. The 100% QC Copper owned Opemiska Property covers 24,544 hectares and includes the past-producing Springer, Perry, Robitaille and Cooke mines, previously owned and operated by Falconbridge between 1953-1991. The project hosts excellent on-site infrastructure, including a power station and direct access to Highway 113 and the Canadian National Railway.
Opemiska's Mineral Resource Estimate
The Company published a mineral resource estimate, which has a total Measured and Indicated resource of 97.5 million tonnes grading 0.81% copper, 0.27 g/t gold and 1.76 g/t silver and an additional 11.0 million tonnes at 0.53% copper, 0.20 g/t gold and 2.58 g/t silver in the Inferred category. The new resource saw a 26% increase in the copper total grade, an 11% increase in CuEq(*) total grade, and a 16% rise in copper equivalent pounds compared to the 2021 Measured and Indicated Mineral Resource Estimate.
In addition, the Company defined a sizeable starter pit comprising 19.1 million tonnes at 1.1% CuEq, all in the Measured and Indicated Mineral Resources categories.
QP Statement
The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo and géo., Director and Vice President Exploration for QC Copper & Gold, a Qualified Person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects." For the exploration undertaken by QC Copper & Gold, all assay batches are accompanied by rigorous Quality Assurance procedures, including the insertion of standards and blanks and verification assays in a secondary laboratory. All the core received from the drill is split in half, bagged and sent to ALS-Global facilities in Quevillon, Quebec for sample preparation. Then the pulps are shipped to AlS-Global's Vancouver laboratory or some other location in the world for analysis using ALS-Global's standardized ISO-compliant methods, all of which are listed in the laboratory certificates provided with the assay results. The remaining half-core, rejects, and pulps returned from the laboratory are securely stored at QC Copper's facilities in Chapais, Quebec. Quality Control results, including the laboratory's control samples, are evaluated immediately on reception of batch results and corrections are implemented immediately if necessary. All drill collars are surveyed and positioned in UTM coordinates. Collars are oriented using a gyroscopic north-finding system and downhole deviation surveys are done with a single-shot gyroscopic instrument at 30 to 50m intervals. Mineralization along the Cooke-Robitaille trend are oriented approximately NW-SE and dip near vertically. Actual mineralized zones are approximately 65 to 70 percent of the down-hole intervals.
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accept responsibility for this release's adequacy or accuracy. Certain information in this press release may contain forward-looking statements. This information is based on current expectations subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. QC Copper and Gold Inc. assume no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to QC Copper and Gold Inc. Additional information identifying risks and uncertainties is contained in QC Copper and Gold Inc. filings with Canadian securities regulators, which filings are available under QC Copper and Gold Inc. profile at www.sedarplus.ca.
