QC Copper & Gold Reports 10 New Holes to Convert Waste into In-Pit Mineralization
TORONTO, July 5, 2022 - QC Copper and Gold Inc. ("QC Copper" or the "Company") (TSXV: QCCU) (OTCQB: QCCUF) is pleased to report additional assay results from its current drill program on the Opemiska Copper-Gold Property.
"This drill program postdates the Mineral Resource Estimate (2021 MRE) and is meant to improve the mineral resources by reducing the strip ratio by upgrading inferred resources into indicated resources category and identifying additional mineralized structures. This drill program has confirmed the existence of at least two additional mineralized east-west structures in the Gap area between the Springer Zone's Vein #2 and Vein #3. Additionally, it has defined the extension at depth of two NW-SE mineralized structures in the Saddle Zone between Springer and Perry. Drilling in the Saddle Zone has outlined continuous mineralization to a minimum vertical depth of 220 metres where it remains open at depth. In contrast, the extension at depth of the mineralization within the Saddle Zone itself will deepen the Springer and Perry pits compared to the 2021 MRE", said Charles Beaudry, Director and Vice President of Exploration for QC Copper.
Highlights Include:
- Mill Zone
| OPM-22-177 | 0.44% Cu-eq over 61.5m (from 151.5m to 213m) |
| OPM-22-179 | 0.60% Cu-eq over 85.5m (from 135m to 220.5m) |
- Gap area between Springer Vein #2 and Vein #3 has outlined continuous mineralization over a strike length of nearly 350 metres and it remains open at depth and along strike:
| OPM-22-178 | 0.31% Cu-eq over 81.0m (from 15.0 to 96.0m) |
| OPM-22-181 | 0.37% Cu-eq over 43.5m (from 165.0 to 208.5m) 0.37% Cu-eq over 9.0m (from 330.0 to 339m) 0.55% Cu-eq over 30.0m (from 382.5.0 to 412.5m) |
| OPM-22-182 | 0.39% Cu-eq over 15.0m (from 181.5.0 to 196.5m) 0.76% Cu-eq over 12.0m (from 261.0 to 273m) 0.86% Cu-eq over 6.0m (from 354.0 to 360m) |
- Springer Zone
| OPM-22-176 | 0.32% Cu-eq over 122.1m (from 122.4 to 244.5m), including 0.61% Cu-eq over 34.5m |
| OPM-22-175 | 0.43% Cu-eq over 66.0m (from 36.0m to 102.0m), including 0.76% Cu-eq over 27.0m, and 0.53% Cu-eq over 15.0m (from 186.0 to 201.0m) |
| OPM-22-180 | 2.11% Cu-eq over 5.1m (from 50.6m to 56m), including 0.95% Cu-eq over 22.1m (from 100.5m to 122.6m),
|
- Saddle Zone
| OPM-22-173 | 0.80% Cu-eq over 12.0m (from 97.5 to 109.5m) |
| OPM-22-174 | 2.62% Cu-eq over 6.0m (from 88.5 to 94.5m) |
Click here for Sections and Plan View of Current Drill Results
Summary of significant reported composite intersections on Opemiska Project: Table 1
| Hole ID | Zone | From | To | Interval | Grade | |||||
| Copper Eq | Copper | Gold | Silver | Zinc | Cobalt | |||||
| OPM-22-173 | Saddle | 97.5 | 109.5 | 12.0 | 0.80 | 0.636 | 0.151 | 2.98 | 118 | 59 |
| OPM-22-174 | Saddle | 88.5 | 94.5 | 6.0 | 2.62 | 2.347 | 0.135 | 13.35 | 249 | 84 |
| OPM-22-175 | S. Springer | 36 | 102 | 66.0 | 0.43 | 0.308 | 0.113 | 1.78 | 89 | 45 |
| Incl. | S. Springer | 36 | 63 | 27.0 | 0.76 | 0.564 | 0.192 | 3.52 | 134 | 55 |
| And | S. Springer | 186 | 201 | 15.0 | 0.53 | 0.19 | 0.313 | 4.85 | 2401 | 33 |
| OPM-22-176 | Mill | 122.4 | 244.5 | 122.1 | 0.32 | 0.218 | 0.111 | 1.07 | 51 | 28 |
| And | Mill | 198 | 232.5 | 34.5 | 0.61 | 0.423 | 0.237 | 1.92 | 66 | 32 |
| OPM-22-177 | Mill | 151.5 | 213 | 61.5 | 0.44 | 0.272 | 0.191 | 2.09 | 207 | 37 |
| Incl. | Mill | 193.5 | 213 | 19.5 | 0.99 | 0.652 | 0.448 | 3.36 | 103 | 39 |
| OPM-22-178 | Springer | 15 | 96 | 81.0 | 0.31 | 0.21 | 0.092 | 1.80 | 207 | 30 |
| OPM-22-179 | Mill | 135 | 220.5 | 85.5 | 0.60 | 0.322 | 0.388 | 1.27 | 56 | 32 |
| OPM-22-180 | Springer | 50.6 | 56 | 5.4 | 2.11 | 1.728 | 0.244 | 18.34 | 412 | 67 |
| And | Springer | 100.5 | 122.6 | 22.1 | 0.95 | 0.736 | 0.187 | 5.63 | 209 | 67 |
| OPM-22-181 | Springer | 165 | 208.5 | 43.5 | 0.37 | 0.253 | 0.133 | 1.39 | 68 | 37 |
| And | Springer | 330 | 339 | 9.0 | 0.37 | 0.271 | 0.07 | 2.22 | 109 | 53 |
| And | Springer | 382.5 | 412.5 | 30.0 | 0.55 | 0.145 | 0.553 | 2.27 | 301 | 50 |
| OPM-22-182 | Springer | 181.5 | 196.5 | 15.0 | 0.39 | 0.299 | 0.049 | 2.03 | 67 | 60 |
| And | Springer | 261 | 273 | 12.0 | 0.76 | 0.125 | 0.739 | 2.53 | 4141 | 36 |
| And | Springer | 354 | 360 | 6.0 | 0.86 | 0.662 | 0.153 | 5.73 | 200 | 69 |
| *Copper Equivalent ("Cu Eq.") grade including copper, gold, silver, cobalt and zinc based on 100% recoveries is calculated using the following equation: Cu Eq. = [(Cu % x 20 x Cu price) + (Au grade / 34.2857 x Au price) + (Ag grade / 34.2857 x Ag price) + (Co % x 20 x Co price) + (Zn % x 20 x Zn price)] / (20 x Cu price). We used Cu, Au, Ag, Co and Zn price of US$4.00, US$1,730, US$26.00 and US$23.90 and US$1.20 respectively. Note that the assays have not been capped. |
The current drill program is designed to expand the in-pit current NI 43-101 compliant 81.7M tonnes @ 0.88% CuEq of Measured and Indicated Mineral Resources and 21.4M tonnes @ 0.73% CuEq of Inferred Mineral Resources (2021 MRE). As of June 26th, a total of 30,454.5 metres of drilling in 114 holes have been completed on the property since the publication of the 2021 MRE. A total of 19,269 samples have been collected and results have been received for 11,592 samples.
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 the 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. Collars are oriented using a gyroscopic north-finding system and downhole deviations surveys are done with a single-shot gyroscopic instrument at 30 to 50m intervals.
For information and updates on QC Copper and Gold, please visit: www.qccopper.com
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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 and Gold Inc.
Contact
To speak to the Company directly, please contact: Stephen Stewart, Chief Executive Officer, Phone: 416.644.1571, Email: sstewart@qccopper.com