XXIX Delivers Strong Gold-Copper Results at Cooke, Advancing Potential Satellite Feed for Opemiska
XXIX Delivers Strong Gold-Copper Results at
Cooke, Advancing Potential Satellite Feed for
Opemiska
Highlights:
3.63 g/t gold, 3.50 g/t silver and 0.27% copper over 6.40 metres from 61.2 metres (COR-25-38)
Mineralization interpreted as two parallel shear-hosted zones with gold-bearing veins and veinlets,
a distinct style from Springer and Perry
Results support tighter-spaced follow-up drilling to advance Cooke toward a Maiden Mineral
Resource Estimate (MRE)
Toronto, Ontario--(Newsfile Corp. - February 27, 2026) - XXIX Metal Corp. (TSXV: XXIX)
(OTCQB: QCCUF) (FSE: 5LW0) ("
XXIX
" or the "Company") is pleased to report initial drill results from
the Cooke Zone, located approximately 2 kilometres east of the Company's envisioned Opemiska open
pit. These early results confirm that Cooke hosts meaningful gold-copper-silver mineralization and
highlight the potential for Cooke to emerge as a satellite deposit capable of providing incremental mill
feed to the broader Opemiska development concept.
Importantly, drilling completed to date has identified at least two parallel mineralized zones, intersected
in every hole, supporting continuity and strengthening the case for systematic delineation. Cooke is a
past-producing mine that currently has no NI 43-101 resource, making it a clear growth opportunity within
the broader Opemiska district. Confirming two parallel mineralized zones in early drilling supports the
potential to advance Cooke toward a maiden resource, which could translate into incremental, near-
surface feed for the envisioned Opemiska operation. If delineated, Cooke could increase overall project
scale, improve mine plan flexibility, and enhance development optionality as XXIX works toward the next
Opemiska MRE and the project's PFS pathway.
"These first holes at Cooke validate the opportunity to add high-value, near-surface ounces and copper
to the broader Opemiska story," said Guy Le Bel, CEO of XXIX. "Cooke is a past-producing area with
clear room for growth. We're encouraged by the consistency of encountering two parallel zones and we
plan to follow up with tighter-spaced drilling to advance Cooke toward a maiden resource."
Cooke Crown Pillar Drilling Program: Two Parallel Zones Confirmed
The Company expanded its initial Cooke drill program to target approximately 10,000 metres across the
Cooke Zone and Saddle Zone (see news release dated December 8, 2025). The program focused on
the near-surface crown pillar, designed to test and better define the previously interpreted North Zone
and South Zone over an approximate 700-metre strike length.
Successful delineation of a mineralized crown pillar at Cooke has the potential to strengthen the overall
Opemiska development plan as the Company advances the broader project toward an updated Mineral
Resource Estimate (MRE) intended to support a Preliminary Feasibility Study (PFS).
Location of Cooke Drill Holes – Figure 1
Interpretation and Next Steps
Cooke appears to reflect a different mineralization style than the Springer and Perry zones that underpin
the envisioned Opemiska open pit. Whereas Springer and Perry are characterized by larger, more
continuous veins, mineralization at Cooke is interpreted to be hosted within two shear zones containing
multiple smaller veins and veinlets, which can produce locally higher-grade ("nuggety") intersections and
greater variability in grade and thickness. Within the Chibougamau copper zone, drilling intersected
narrow, but high copper values as expected.
The Company believes these results justify a follow-up
program with narrower drill spacing to support a potential maiden MRE at Cooke.
Table 1) Selected intersects from Chibougamau Cooke Gold Zone
Hole ID
From (m)
To (m)
Length (m)
Au (g/t)
Ag (g/t)
Cu (%)
Zone
COR-25-31
70.75
73.25
2.50
0.76
1.00
0.02
North Zone
COR-25-31
110.70
115.70
5.00
0.01
2.66
0.22
South Zone
COR-25-33
199.00
204.50
5.50
0.05
1.69
0.11
North Zone
COR-25-33
220.50
224.50
4.00
0.26
0.28
0.04
South Zone
COR-25-34
162.00
165.00
3.00
0.78
3.40
0.24
North Zone
COR-25-34
232.00
238.00
6.00
1.15
2.70
0.28
South Zone
COR-25-35
173.00
174.00
1.00
0.61
8.13
0.53
North Zone
COR-25-35
243.00
250.00
7.00
2.52
2.41
0.36
South Zone
COR-25-36
50.00
51.00
1.00
0.01
1.10
0.20
North Zone
COR-25-36
122.00
128.80
6.80
0.21
0.74
0.05
South Zone
COR-25-37
37.00
41.00
4.00
0.07
1.38
0.33
North Zone
COR-25-37
83.60
90.00
6.40
3.40
3.50
0.33
South Zone
COR-25-38
61.20
67.60
6.40
3.63
3.50
0.27
North Zone
COR-25-38
108.50
114.50
6.00
0.28
1.04
0.21
South Zone
COR-25-39
41.00
42.00
1.00
0.15
3.00
0.31
North Zone
COR-25-39
109.00
114.00
5.00
0.54
0.26
0.04
South Zone
COR-25-40
52.30
57.30
5.00
1.21
0.68
0.04
North Zone
COR-25-40
116.90
118.90
2.00
1.31
5.40
0.28
South Zone
COR-25-41
51.50
53.10
1.60
0.18
3.88
0.75
North Zone
COR-25-41
88.70
90.60
1.90
6.82
1.99
0.03
South Zone
COR-25-42
41.50
45.70
4.20
3.07
9.38
0.69
North Zone
COR-25-42
131.10
138.80
7.70
0.94
2.46
0.50
South Zone
COR-25-43
95.30
96.90
1.60
0.14
2.65
0.40
North Zone
COR-25-43
194.60
203.80
9.20
0.11
0.90
0.09
South Zone
COR-25-44
25.40
29.40
4.00
0.36
0.38
0.03
North Zone
COR-25-44
120.50
136.90
16.40
0.61
2.32
0.36
South Zone
COR-25-45
194.80
208.00
13.20
1.29
5.11
0.87
North Zone
COR-25-46
94.80
99.00
4.20
0.39
15.59
1.32
North Zone
COR-25-46
197.00
200.30
3.30
0.07
1.34
0.52
South Zone
COR-25-47
89.40
94.40
5.00
0.09
1.76
0.31
North Zone
COR-25-47
196.00
199.00
3.00
0.45
0.20
0.01
South Zone
COR-25-48
91.70
95.70
4.00
0.49
0.18
0.01
North Zone
COR-25-48
139.60
152.70
13.10
3.39
3.04
0.62
South Zone
COR-25-49
321.00
323.10
2.10
0.37
28.85
2.75
North Zone
COR-25-50
109.00
111.00
2.00
1.54
4.60
0.37
South Zone
COR-25-22
82.80
84.00
1.20
0.31
27.19
4.14
Chibougamau
Copper
COR-25-23
67.50
72.00
4.50
0.06
6.73
0.67
Chibougamau
Copper
COR-25-24
54.00
56.50
2.50
0.05
10.08
1.28
Chibougamau
Copper
COR-25-25
179.60
182.60
3.00
0.02
2.20
0.14
Chibougamau
Copper
COR-25-27
74.60
77.85
3.25
0.15
6.10
0.57
Chibougamau
Copper
COR-25-29
131.55
132.05
0.50
0.09
9.60
1.24
Chibougamau
Copper
COR-25-30
74.15
78.70
4.55
0.04
2.78
0.25
Chibougamau
Copper
True thickness are unknown.
Table 2) Cooke Drill Collar Locations
Hole ID
Metres
Easting
Northing
Elevation
Azimuth
Dip
COR-25-22
129
513045
5515775
397
153
-50
COR-25-23
111
513196
5515766
397
153
-60
COR-25-24
99
513196
5515766
395
153
-45
COR-25-25
213
513225
5515812
401
153
-58
COR-25-26
180
513699
5515890
394
90
-46
COR-25-27
126
513604
5515777
395
230
-50
COR-25-28
231
513218
5515826
401
153
-58
COR-25-29
165
513268
5515808
401
153
-60
COR-25-30
150
513345
5515830
400
153
-45
COR-25-31
180
512930
5515428
393
210
-57
COR-25-32
165
513020
5515383
393
210
-50
COR-25-33
291
513070
5515470
394
210
-50
COR-25-34
270
513140
5515405
394
210
-50
COR-25-35
255
513245
5515370
393
210
-50
COR-25-36
168
513093
5515335
392
210
-50
COR-25-37
156
513122
5515301
392
210
-50
COR-25-38
132
513225
5515268
391
210
-47
COR-25-39
159
513181
5515275
391
210
-50
COR-25-40
174
513244
5515251
392
210
-50
COR-25-41
192
513449
5515119
392
210
-50
COR-25-42
177
513295
5515227
391
210
-50
COR-25-43
336
513471
5515161
392
210
-50
COR-25-44
177
513345
5515194
391
210
-50
COR-25-45
378
513568
5515173
392
210
-50
COR-25-46
261
513400
5515212
391
210
-48
COR-25-47
282
513419
5515197
392
210
-48
COR-25-48
207
513536
5515091
391
210
-50
COR-25-49
380
513610
5515318
394
210
-47
COR-25-50
279
513076
5515178
393
30
-50
Quality Control and Assurance
All samples (NQ core) are logged and cut in two at the company secure facility in Chapais, under the
supervision of Ahcene Gaoui, p.geo., project geologist.
The samples are sent to Agat laboratories in
Val-d'Or by a secure transport.
One standard and one blank are inserted in every 50 samples, the blank
always in a mineralized zone.
The analytic method used is fire assay, trace Au, AAS finish and Fire assay, Au grade with gravimetric
finish for over limit results.
We use Aqua regia digest, metals package ICP OES finish for Cu and Ag
with ICP-MS finish for over limit results.
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.
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. An October 2025 Preliminary Economic Assessment outlined a 12,500 tpd open pit
operation over a 17-year mine life, generating an after-tax NPV8% of $505M, IRR of 27.2%, and a 2.3-
year payback period ($4.35/lb copper price, $3,000/oz gold price, $30/oz silver price). The Thierry
Project hosts the K1 (near-surface) and the past-producing K2 (underground & surface) zones (see
XXIX news release dated October 1, 2024 for details regarding resources). Thierry has significant
infrastructure in place including an 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.
For further information, please contact:
Guy Le Bel, Chief Executive Officer
Phone: 514.654.8550
Email:
www.xxix.ca
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, various cost, price and production
assumptions used to inform the PEA, 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.
The reader is advised that the Preliminary Economic Assessment (PEA) summarized in this news
release is intended to provide only an initial, high-level review of Opemiska's economic potential. The
PEA mine plan and economic model include numerous assumptions and the use of inferred mineral
resources. Inferred mineral resources are considered to be too speculative to be used in an economic
analysis except as allowed for by NI 43-101 in PEA studies. There is no guarantee that inferred mineral
resources can be converted to indicated or measured mineral resources, and as such, there is no
guarantee Opemiska's economics described herein will be achieved. XXIX may be eligible for Clean
Technology Manufacturing Investment Tax Credit (CTM-ITC). This legislation has been enacted on June
20, 2024. There is no guarantee the Company will be able to access the CTM-ITC.
Non-IFRS Financial Measures
XXIX has included certain non-IFRS financial measures in this news release, such as C1 Cash Cost
which are not measures recognized under IFRS and do not have a standardized meaning prescribed by
IFRS. As a result, these measures may not be comparable to similar measures reported by other
corporations. Each of these measures used are intended to provide additional information to the user
and should not be considered in isolation or as a substitute for measures prepared in accordance with
IFRS.
Neither the 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
news release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/285577