QC Copper & Gold to Re-Start Drilling on Opemiska
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TORONTO, Oct. 20, 2021 - QC Copper and Gold Inc. ("QC Copper" or the "Company") (TSXV: QCCU), is pleased to announce that the company is scheduled to re-start drilling on the Opemiska Property. This new drill program is planned for 6,000 metres and will act as a precursor to a much larger drilling program currently in the planning stages.
The areas of focus for this current drill program are designed to confirm the orientation of mineralized structures in and around the Opemiska open pit, in particular, the Saddle Zone and the Eastern Veins. The drill will be mobilized next week, with the program expected to complete by December 2021.
Drill Program for 2022 - A Robust Drill Program To be Announced
QC Copper has identified four priority targets with the potential to add resources to the currently defined NI 43-101 resource within the conceptual pit of the Springer-Perry deposit. These targets are the Saddle Zone, the Eastern Veins, Perry Mine at depth, and the Beaver Lake Fault corridor, including the Cooke and Robitaille Mines. Management considers these areas as very likely to augment the existing inventory of resources on the Opemiska Project. The Company is currently designing this drill program and its logistics, with further details provided soon.
"All the planned drilling in the coming 12 months is meant to expand the resource base at Opemiska as much as possible in anticipation of a new mineral resource estimate and a pivot towards project development. Once we are satisfied that we have tested all the immediate potential, we will shift gears and towards a PEA and beyond. This is a large and highly prospective land package, which we plan to continue exploring even once the project enters the development pipeline", said Stephen Stewart, CEO and Chairman of QC Copper and Gold.
Opemiska Mineral Resources
On September 20, the Company published the results of its maiden mineral resource estimate on the Opemiska Property over the near surface portion of the historical Springer and Perry mines showing 81.7M tonnes @ 0.88% CuEq of M&I Mineral Resources and 21.3M tonnes @ 0.73% CuEq of Inferred Mineral Resources. Results are summarized in table 1.
Summary of Mineral Resources in the Opemiska Deposit, 0.2% CuEq cut-off: Table 1
| Category | Tonnage (millions) | Copper (%) | Gold (g/t) | CuEq (g/t) | Contained Copper (million lbs) | Contained Gold (k oz) | Contained CuEq (million lbs) |
| Measured | 64.94 | 0.64% | 0.32 | 0.88%* | 918.2 | 676,6 | 1,254.90 |
| Indicated | 16.73 | 0.69% | 0.26 | 0.88% | 255.2 | 139 | 325.8 |
| Total M&I | 81.67 | 0.65% | 0.31 | 0.88% | 1,173.40 | 815.6 | 1,580.80 |
| Inferred | 21.35 | 0.51% | 0.3 | 0.73% | 239.8 | 209.2 | 345.8 |
| *: The 0.20% CuEq cut-off grade was derived from the approximate August 2021 Consensus Economics long term forecast Cu and Au prices of US$3.50/lb and US$1,650/oz, US$ exchange rate of $0.76, 80% Cu process recovery and smelter payable, mining C$2.25/t, processing C$13/t, G&A $3/t. CuEq% = Cu% + (Au g/t x 0.72) + (Ag g/t x 0.01). (see footnotes 1-7) |
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 that include insertion of standards and blanks and verification assays in a secondary laboratory. Quality Control results, including the laboratory's control samples, are evaluated immediately on reception of batch results and corrections implemented immediately if necessary. All drill collars are surveyed and positioned in UTM coordinates and collars are oriented using a gyroscopic, north-finding instrument. Downhole deviations surveys are done with a gyroscopic instrument at 30m intervals. A systematic density measurement program using two methods will be implemented to measure the density of all rock types. A specific susceptibility measurement protocol will also be implemented to estimate the relative abundance of magnetite in the Ventures Sill's variably magnetic rocks. A focused optical and acoustic televiewer surveying program is planned at the end of the program to obtain correctly oriented structural measurement to inform the interpolation algorithms of the block modelling software that will be used to estimate the mineral resources Springer and Perry Mines pit.
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Forward Looking Statements
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.
SOURCE QC Copper and Gold Inc.
Contact
Stephen Stewart, Chief Executive Officer, Phone: 416.644.1567, Email: sstewart@qccopper.com