QC Copper Announces a Strategic Acquisition
QC Copper Announces a Strategic Acquisition
Toronto, Ontario--(Newsfile Corp. - March 6, 2023) - QC Copper and Gold Inc. (TSXV: QCCU) (OTCQB:
QCCUF) ("QC Copper" or the "Company") is pleased to announce the acquisition of the Opemiska
West Project ("Opemiska West"). Opemiska West is 36 mineral claims over 1560 hectares and is
immediately adjacent to and contiguous with the western border of QC Copper's Opemiska project, in
the Chibougamau District of Quebec.
The acquisition is a critical land package for the development of Opemiska, as these Opemiska West
claims host the historic tailings from the Opemiska Mine from its operations under Falconbridge from
1953 to 1991. These tailings also potentially carry residual mineralization when Opemiska was mined as
a high-grade underground operation with a cut-off grade of 1.5% copper. The Company also considered
these claims as potentially being an ideal location for future tailings facilities.
"The acquisition of the Opemiska West claims is strategically important as they host potential additional
feed upon evaluating the metal content from the historic tailings. More importantly, this gives the
Company significant land immediately adjacent to Opemiska's conception open pit, which will be further
defined in QC Copper's forthcoming updated Mineral Resource Estimate," said Stephen Stewart, QC
Copper's CEO.
Known Mineralization on Opemiska West Claims
Mineralization on the Opemiska West claims is similar to the Opemiska style copper vein typology,
particularly given its proximity to the Springer and Perry mines. The mineralized veins of the Springer
mine are restricted to fracture networks contained in the ophitic parts of the gabbroic Venture sill, and
the veins are known to extend westward on to the Opemiska West claims.
Update Map of Opemiska Claims
Terms of the Acquisition
Upon final exchange approval and closing of the acquisition, in exchange for 100% ownership of the
Opemiska West claims, QC Copper will issue 500,000 of its common shares to the
Vendor, Windfall
Geotek. The Opemiska West claims are subject to an existing 2% net smelter royalty, of which 1% can
be repurchased for $1 million. Additionally, QC Copper has entered into a $125,000 services
agreement with the Vendor to perform data analysis and to generate artificial intelligence drill targets on
the Opemiska. This agreement is subject to TSXV approval.
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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 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:
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/157342