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TORONTO, Oct. 20, 2021 /CNW/ - 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.
For information and updates on QC Copper and Gold, please
visit: www.qccopper.com
And please follow us on Twitter @qccoppergold
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 & Gold Inc.