Toronto, Ontario--(Newsfile Corp. - September 27, 2023) - QC Copper and Gold Inc. (TSXV: QCCU) (OTCQB: QCCUF) ("QC Copper" or the "Company") is pleased to provide an update to shareholders regarding the progress made towards completing the Mineral Resource Estimate ('MRE') for the Opemiska Copper Project, situated in the Chibougaumau-Chapais District of Quebec.
The Company has completed the wireframes, geologic modeling, and data validation, which comprise the vast majority of the technical inputs for the MRE. The remaining elements are the extraction of the digitized stopes from the mineralized envelopes, block modelling, pit optimization, and the final audit of the MRE by an independent Qualified Person.
As noted in prior news releases, the Company has been delayed in its completion of its MRE, primarily because of the vast amount of data related to the project and because of the Company's initiative to rebuild its database and reinterpret the geology based on its in-house resource team which it has employed as of the end of 2021. For the last two years, this resource team has been immersed in the data and geology of Opemiska and will be the effective author of Opemiska's forthcoming MRE. All aspects of the Company's work on the MRE are being audited and approved by an independent Qualified Person.
The Company expects the initial MRE News Release to be available over the next 60 days, followed by publishing the full technical report on Sedar. We thank investors for their patience and assure them that we are committed to delivering a mineral resource of the highest quality.
QC Copper reiterates that it views the Opemiska deposit as a company-building asset that has the potential to transform the Chigbougamau-Chapais District by becoming a large-scale copper-gold mine once again. Therefore, our primary objective with this resource update is to deliver a high-quality database that will enable any operator or major mining company to access our data room, evaluate the asset, and have confidence in the quality of our interpretation of the geology.
Opemiska's updated MRE is based on the comprehensive geology analysis of more than 980,000 meters of drilling, 430,500 historical assays, and the Company's 74,000 metres of drilling. The objectives of this updated MRE are to include the 50,000 metres of drilling completed since 2021's MRE, optimize the resource, and reinterpret its geology based on improved knowledge of geology and mineralization. The former aspect is critical to delivering a high-quality database to those entering our data room for strategic investment, permitting, and potential acquisition.
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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.
For information and updates on QC Copper and Gold, please visit: www.qccopper.com
And please follow us on Twitter @qccoppergold
To speak to the Company directly, please contact:
Stephen Stewart, Chief Executive Officer
Phone: 416.644.1567
Email: sstewart@qccopper.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are 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. assumes 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 filings by QC Copper and Gold Inc. with Canadian securities regulators, which filings are available under QC Copper and Gold Inc. profile at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181978
