Highlights:
- Defining 'Opemiska Style' Mineralization: The drill program aims to characterize 'Opemiska Style' near-surface mineralization at Cooke and Robitaille Mines.
- Historical Significance within Falconbridge's Opemiska Copper Mine Complex: Cooke and Robitaille Mines, integral components of Falconbridge's Opemiska Copper Mine Complex, are undergoing systematic drilling for the first time by QC Copper and Gold.
Toronto, Ontario--(Newsfile Corp. - January 16, 2024) - QC Copper and Gold Inc. ("QC Copper" or the "Company") (TSXV: QCCU) (OTCQB: QCCUF) is excited to announce the commencement of a new drill program on the historically significant Cooke and Robitaille Mines, integral components of Falconbridge's Opemiska Copper Mine Complex. These mines, located less than a kilometre from the recently unveiled open pit resource on Opemiska (published on January 8, 2024), present a promising opportunity for QC Copper to define additional 'Opemiska Style' near-surface mineralization.
The primary objective of this drill program is to assess preliminary targets while QC Copper finalizes planning and permitting for its comprehensive 2024 drill program. By leveraging the Company's knowledge of historic production from the mine and employing internal resource modeling, the aim is to systematically drill Cooke and Robitaille. This strategic approach seeks to identify additional open pit material within these zones, about 1 kilometre from the open pit delineated in the Mineral Resource Estimate.
QC Copper has conducted limited drilling on the Cook-Robitaille Property, home to two of the four historical mines from the Opemiska Copper Mine Complex. "Our recent focus has been on delivering the Mineral Resource Estimate. As we shift our exploration efforts towards drilling targets like Cook and Robitaille, we recognize our expansive land package's potential for significant discoveries. With limited historical drilling and evaluation for near-surface bulk tonnage targets, these areas hold immense promise for our exploration initiatives. The Company remains dedicated to unlocking the full potential of its properties, and this drill program marks a crucial step in realizing the value hidden within the Cooke and Robitaille Mines. As QC Copper and Gold continues to pursue strategic exploration and development initiatives, stakeholders can anticipate further updates on the progress and findings from this ongoing program throughout 2024," 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.
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 sizable starter pit comprising 19.1 million tonnes at 1.1% Cu-Eq, all in the Measured and Indicated Mineral Resources categories.
The Technical Report for the MRE will be published within the standard 45-day period following the January 8, 2024 news release.
Figure 1 for the location of Cooke and Robitaille on the Opemiska Project
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 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: 416.644.1571
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/194384
