XXIX Announces Fully Funded Drilling and Development Plans for Opemiska and Thierry
XXIX Announces Fully Funded Drilling and
Development Plans for Opemiska and Thierry
Highlights:
15,000-metre drill program at K1 (Thierry Copper Project) scheduled for Winter 2025
5,000-metre drill program at Cooke (Opemiska) planned for Fall 2025.
Preliminary Economic Assessment (PEA) for Opemiska targeted for October 2025, led by
Ausenco, the first economic study since the mine's closure in 1991.
XXIX is funded for 2025/2026 exploration following the recently closed $6M financing.
Toronto, Ontario--(Newsfile Corp. - August 25, 2025) - XXIX Metal Corp. (TSXV: XXIX) (OTCQB:
QCCUF) (FSE: 5LW0) ("
XXIX
" or the "
Company
")
is pleased to announce its fully-funded exploration
programs at its Opemiska Copper Project and a maiden drill program at its Thierry Copper Project.
Drill Program at Thierry
XXIX is planning a drill program of up to 15,000 metres focused on the K1 deposit at Thierry. The
program is designed to expand the current resource and is based on the detailed data compilation and
validation work completed in February 2025. This effort produced a modern, consolidated geological
model for K1, which currently hosts an inferred resource of 53.6 million tonnes grading 0.38% copper,
0.10% nickel, 0.03 g/t gold, 0.05 g/t platinum, 0.14 g/t palladium, and 1.8 g/t silver.
The new model confirms that mineralization begins at surface and has been drilled to a depth of 400
metres. K1 extends along a strike length of more than 1.4 kilometres and reaches widths of up to 260
metres. Importantly, the model highlights increasing copper grades with depth. It also incorporates 15
previously excluded drill holes, offering a more complete understanding of the deposit's geometry and
potential.
This upcoming program will update the K1 resource using XXIX's more comprehensive geological
model, providing a stronger foundation for future development and expansion.
Drill Program at Cooke Gold Zone at Opemiska
XXIX is planning a 5,000-metre drill program at the former Cooke gold mine area, which has not been
properly tested since the mine's closure. Cooke is is a past-producing underground operation with its
crown pillar intact, located 2.5 kilometres east of the proposed Opemiska pit. Historically, Cooke
produced 1.97 million tonnes grading 5.04 g/t gold and 0.66% Copper
[1]
.
The objective of this program is to expand Opemiska's current resource base and enhance it
Preliminary Economic Assessment - October 2025
XXIX anticipates completing its Preliminary Economic Assessment (PEA) for Opemiska in October
2025, with Ausenco engaged to lead the study. This will mark the first economic evaluation of Opemiska
since Falconbridge ceased underground mining in 1991. The PEA will be structured to maximize project
value by prioritizing high-grade tonnes early in the proposed mine plan, with the objective of enhancing
overall project returns and IRR.with the potential addition of high-grade gold. Drilling is expected to
commence in Fall 2025.
About XXIX Metal Corp.
XXIX is advancing its Opemiska and Thierry Copper projects, two significant Canadian copper assets.
The Opemiska Project, one of Canada's highest-grade open pitable copper deposits, spans 21,333
hectares in Quebec's Chapais-Chibougamau region, with strong infrastructure and nearby access to the
Horne Smelter. A June 2025 resource update reported a pit constrained resource of 62.7 million tonnes
at 1.04% CuEq (Indicated) and 78.4 million tonnes at 0.41% CuEq (Inferred), with its clean concentrates
not yet allocated.
The Thierry Project hosts two past-producing open pits, with one that transitioned to
underground mining. Significant infrastructure is already in place, with the Thierry property being
accessible via all-season road, an airport within 5km, a provincial power grid within 8km, and nearby rail.
With these two high-potential projects, the Company has solidified its position as a key player in the
Canadian copper sector and has established itself as one of Eastern Canada's largest copper
developer.
QP Statement
The technical information contained in this news release has been reviewed and approved by Denis
McNichols, P.Geo and géo., Vice President Exploration for XXIX Metal, a Qualified Person, as defined
in "National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For further information, please contact:
Guy Le Bel, Chief Executive Officer
Phone: 514.654.8550
Email:
Forward-Looking Statements
This news release contains certain forward-looking statements, including statements about the
Company's belief that Opemiska has potential for continued growth, any anticipated timelines for the
completion of a Preliminary Economic Assessment at Opemiska, various cost, price and production
assumptions used to inform the Mineral Resource Estimate cut-off grade, and outstanding risk factors,
including Opemiska's Proximity to the Town of Chapais, Historical Assay validation, Geotechnical
considerations of open stopes in the eastern pit wall, the Venture sill, the Gwillim fault, host rock
competency and Historical Stope Modeling. Wherever possible, words such as "may", "will", "should",
"could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the
negative or other variations of these words, or similar words or phrases, have been used to identify
these forward-looking statements. These statements reflect management's current beliefs and are
based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could
cause actual results, performance or achievements to differ materially from the results discussed or
implied in the forward-looking statements. Such factors include, among other things: risks related to
uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with
executing the Company's plans and intentions. These factors should be considered carefully, and
readers should not place undue reliance on the forward-looking statements. Although the forward-looking
statements contained in this news release are based upon what management believes to be reasonable
assumptions, the Company cannot assure readers that actual results will be consistent with these
forward-looking statements. These forward-looking statements are made as of the date of this news
release, and the Company assumes no obligation to update or revise them to reflect new events or
circumstances, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.
[1]
Morin, R. DV90-01, Energie et Ressources Naturelle Québec, Edition L. Blais-Leroux, p. 75
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