QC Copper & Gold Acquires Land Package to Expand Opemiska Copper Project
QC Copper & Gold Acquires Land Package to
Expand Opemiska Copper Project
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
./
TORONTO
,
Oct. 26, 2021
/CNW/ - QC Copper and Gold Inc. ("
QC Copper
" or the "
Company
")
(TSXV: QCCU) is pleased to announce that it has entered into an agreement with an arm's length
private company, 9219-8845 Quebec Inc. (operating as Canadian Mining House) (the "
Vendor
"), to
acquire 100% ownership of 38 claims over 2,112 hectares of highly prospective ground that
connects two land parcels of the Opemiska Copper Project (the "
Opemiska Expansion
"). The
Opemiska Copper Project will now be collectively 15,518 hectares comprising the Springer, Perry,
Robitaille and Cooke mines and 13 kilometres of the Gwillim Fault.
The western section of the Opemiska contains the resource deposits and is where Falconbirge
mined for 40 years. The eastern section of the Opemiska is prospective for new discoveries and is
known to host VMS mineralization.
Click here to see a Map of New Opemiska Property Expansion
Geology of Eastern Opemiska & New Opemiska Property Expansion
The purchased claims form a continuous block that bridges the gap between the Company's Cooke-
Robitaille and Scott properties and the area is primarily underlain by felsic and mafic volcanic rocks
of the Waconichi Formation. The Waconichi Formation is host to VMS deposits elsewhere in the
Chibougamau
District and exhalative-style mineralization is known on surface on claims of the
Cooke-Robitaille Property located nearby. Moreover the northeast trending Scott Lake Fault, which
parallels and is thought to be related to the Gwillim Fault, crosses the center of the purchased
claims highlighting potential for copper-gold mineralization similar to the historical mines in
Chibougamau
and Chapais.
Terms of Acquisition
QC Copper is acquiring 100% ownership of the Opemiska Expansion and, upon closing, will issue
150,000 common shares of the Company and pay
$10,000
in cash to the Vendor. The vendor will
retain a 2% Net Smelter Royalty, of which 50% can be repurchased by the Company at any time for
$500,000
.
No finder's fee is payable in connection with the acquisition, and the closing of the acquisition is
subject to the approval of the TSX Venture Exchange.
QP Statement
The technical information contained in this news release (including information information contained
in links) has been reviewed and approved by
Charles Beaudry
, P.Geo and géo., Director and Vice
President Exploration for QC Copper and Gold Inc., who is 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
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.
View original content:
http://www.newswire.ca/en/releases/archive/October2021/26/c7949.html
%SEDAR: 00045293E
For further information:
To speak to the Company directly, please contact: Stephen Stewart,
Chief Executive Officer, Phone:
416.644.1567, Email:
CO: QC Copper & Gold Inc.
CNW 06:00e 26-OCT-21