Toronto, Ontario--(Newsfile Corp. - January 17, 2023) - QC Copper and Gold Inc. (TSXV: QCCU) (OTCQB: QCCUF) ("QC Copper" or the "Company") is pleased to announce the resumption of drilling on the Opemiska Property as a part of its Mineral Resource Estimate ('MRE') update and provide an update on its plans during 2023. This final drill program before the MRE publication will utilize three drill rigs, complete a planned 10,000 metres, and is expected to be completed in February.
"The data from drilling completed between November 2021 and October 2022 has now been incorporated into the geologic model. This updated model was used to target areas for this final leg of the drill program, which is expected to increase the contained metal content in the forthcoming MRE. This program will define additional resources on the Perry Zone, the gold-rich south end of the Springer Zone, and some additional resources in satellite pits in the Eastern Veins," said Charles Beaudry, Director and VP of Exploration for QC Copper & Gold.
The Company reminds investors that the current drill program is part of a broader strategy to bring the Opemiska copper project to a development decision. To recap:
- Maiden open pit-constrained MRE released in September 2021 of 82mt at 0.88% Copper Equivalent ('CuEq') Measured and & Indicated and 21mt at 0.73% CuEq Inferred
- Aggressive drilling over 2022 focused on resource expansion within the pit.
- 2022 program has met or exceeded expectations, leading to increased confidence in a significantly expanded resource and better potential mine economics
- Final 10,000m underway will be included in the expanded MRE, whose timing is expected around June 2023 as described below in Figure 1
- QC Copper is increasingly confident in bulk tonnage, and lower strip mining potential, and will move toward the Preliminary Economic Studies post-finalization of MRE.
- Click here for detailed drill results from Opemiska's Nov. 2021 to October 2022
"Our team has taken great care with this updated MRE, believing that the Opemiska can once again be a great copper mine. Copper assets of this scale, grade, and infrastructure in the heart of Quebec are exceedingly rare. These features will become increasingly valuable as the world shifts to green energy production and consumption. Furthermore, we anticipate prime assets in Canada to trade at new premiums as supply chains shut due to geopolitical trends, and the securing of critical metals, like copper, become sovereign priorities," said Stephen Stewart, CEO and Chairman of QC Copper.
Click here for View Video Interview with Charles Beaudry, VP Exploration,
& Stephen Stewart, CEO
Mineral Resource Estimate Update
A Gantt chart in Figure 1 depicts QC Copper's current work plan and associated timeframes. As shown, the updated MRE is targeted for June 2023. While delays are possible, management has implemented tight controls on the process to ensure timelines are respected.
Opemiska's Updated Mineral Resource Estimate Gantt Chart - Figure 1
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/9282/151488_d333f1c1d4c01a9b_002full.jpg
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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. All the core received from the drill is split in half, bagged and sent to ALS-Global facilities in Quevillon, Quebec for sample preparation and 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 along with the rejects and the 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 deviations surveys are done with a single-shot gyroscopic instrument at 30 to 50m intervals. For veins oriented approximately east-west and dipping towards the north, and drill holes oriented due south and plunging between 50 and 65 dips, the true width of mineralized intersections are equal or greater than 80% of the quoted core length composite intervals. This observation also holds for veins oriented northwest-southeast and dipping towards the northeast with holes drilled towards the southwest at 225 degrees with dips between 50 and 65 degrees. However, for other drill hole orientations relative to these veins or other less common vein orientations, the true widths of mineralized intersections are less.
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.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151488
