QC Copper & Gold to Re-Start Drilling on Opemiska
QC Copper & Gold to Re-Start Drilling on
Opemiska
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UNITED STATES
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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.
View original content:
http://www.newswire.ca/en/releases/archive/October2021/20/c3235.html
%SEDAR: 00045293E
For further information:
Stephen Stewart, Chief Executive Officer, Phone: 416.644.1567, Email:
CO: QC Copper & Gold Inc.
CNW 09:38e 20-OCT-21