TORONTO, May 12, 2021 /CNW/ - QC Copper and Gold Inc.
("QC Copper" or the "Company") (TSXV: QCCU), is
pleased to report additional assay results from its ongoing drill
program on its flagship Opemiska Copper-Gold project in the
Chibougamau-Chapais mining district. Highlights
include:
Hole OPM-21-26:
- 140 metres of 0.44% copper equivalent*,
-
- Including 36.0 metres of .94% copper
equivalent*
Hole OPM-21-41:
- 53.5 metres of 0.56% copper equivalent*,
-
- Including 10.0 metres of 2.63% copper
equivalent*, and a separate intersection of:
- 12.7 metres of 0.49% copper equivalent*
Hole OPM-21-28:
- 55.0 metres of 0.30% copper equivalent*, and a separate
intersection of:
- 7.5 metres of 1.46% copper equivalent*
Images of Drill Sections for All Results Released
to Date
"These drill results represent the first 9 holes of the program
which are meant to validate and define a near surface bulk tonnage
resource at Opemiska. The total number of holes for this program is
expected to now exceed 85 holes. Drilling is expeted to be
completed toward mid-May and the last assay results should arrive
around mid-July with the resource statement available shortly
thereafter.
Several of the holes drilled around Perry Mine appear to be
visually better than anticipated. In particular holes 49 and 50
(see linked drill sections), which remain unreported, were drilled
in the zone between the modelled Springer and Perry pits and
intersected visually abundant pyrite and chalcopyrite
mineralization. These holes were designed to reduce the strip ratio
in the saddle zone that would connect the Spinger and Perry
pits. A similar result from hole 69 on the east side of the
Perry pit should allow modest expansion of the Perry optimized pit
shell towards the Eastern Veins. It is important to remember that
the drilling program is focused primarily on validating historical
mine-era surface holes which were severely undersampled. We
are confident that our current drilling pattern, which has been
vetted by the independent Qualified Persons tasked with preparing
the NI43-101 mineral resources estimate, will allow us to validate
the historical mine assays and allow us to publish a compliant
mineral resource," said Charles
Beaudry, P.Geo., géo., Director and VP Exploration for QC
Copper and Gold Inc.
Full Summary of Reported Mineralized Intersections to
Date
|
Hole
ID
|
Interval
(m)
|
From
(m)
|
To
(m)
|
Grade
|
Copper
Eq (%)*
|
Copper
(%)
|
Gold
(gpt)
|
Silver
(gpt)
|
Cobalt
(ppm)
|
Zinc
(ppm)
|
OPM-21-24^
|
126
|
51.0
|
177.0
|
0.44
|
0.326
|
0.134
|
1.55
|
28
|
59
|
incl.
|
55.5
|
121.5
|
177.0
|
0.64
|
0.488
|
0.181
|
2.13
|
30
|
52
|
OPM-21-25^
|
18.0
|
85.5
|
103.5
|
0.80
|
0.660
|
0.185
|
3.33
|
46
|
141
|
and
|
76.5
|
154.5
|
231.0
|
0.54
|
0.355
|
0.236
|
1.64
|
29
|
58
|
OPM-21-26
|
140
|
36.0
|
176.0
|
0.44
|
0.331
|
0.116
|
1.44
|
36
|
71
|
incl.
|
35
|
105.0
|
150.9
|
0.94
|
0.717
|
0.266
|
2.77
|
40
|
107
|
OPM-21-27^
|
127.5
|
69.0
|
196.5
|
0.40
|
0.318
|
0.075
|
2.00
|
28
|
73
|
incl.
|
35
|
69.0
|
104.0
|
0.88
|
0.749
|
0.094
|
4.41
|
40
|
129
|
OPM-21-28
|
55
|
140.0
|
195.0
|
0.30
|
0.223
|
0.059
|
1.36
|
46
|
66
|
incl.
|
7.5
|
170.0
|
177.5
|
1.46
|
1.177
|
0.305
|
5.70
|
53
|
97
|
OPM-21-29
|
26
|
132.0
|
158.0
|
0.37
|
0.279
|
0.07
|
1.51
|
0
|
83
|
OPM-21-34
|
7.8
|
184.5
|
192.3
|
0.64
|
0.463
|
0.198
|
2.85
|
44
|
110
|
OPM-21-39
|
11
|
64.0
|
75.0
|
0.38
|
0.278
|
0.100
|
1.93
|
26
|
59
|
OPM-21-41
|
53.5
|
31.5
|
85.0
|
0.56
|
0.450
|
0.098
|
2.52
|
8
|
604
|
incl.
|
10
|
75.0
|
85.0
|
2.63
|
2.359
|
0.238
|
10.2
|
35
|
225
|
and
|
12.7
|
297.0
|
309.7
|
0.49
|
0.354
|
0.103
|
2.62
|
77
|
81
|
*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, US$23.90 and
US$1.20 respectively.
|
^Previously published
results.
|
Drill Progress on Opemiska
As of May 11th, the Company has completed 18,452 metres
of drilling with 85 holes either completed or in progress.
The current program is over 90% completed and is averaging over 200
metres per day, with two drills operating 24 hours
day.
The Company is operating its drill program with strict protocols
to prevent any outbreaks to ensure the safety of our staff and the
communities that surround our project. To this end, all our
personnel are being tested for Covid-19 before travelling to the
project.
Orientation of Drilling and True Widths of
Mineralization
Field-based and drill hole evidence
indicates that several orientations of veins are present on the
Opemiska Property. Around the Springer Mine, the veins are
predominantly EW with a steep dip to the north.
South-directed drill holes are intersecting those veins near
perpendicular. However, in the disseminated mineralization,
we find veins with various core angles suggesting that other
directions may be important. In the disseminated
mineralization, the true width of intersections is estimated to be
the same as the drill core width. However, the mineralization may
have an overall envelope that is different.
About the Opemiska Copper Complex
The Opemiska Copper
Complex is located adjacent to Chapais, Quebec, within
the Chibougamau region. Opemiska is also within the
Abitibi Greenstone belt and within the boundaries of the Province
of Quebec's Plan Nord, which promotes and funds
infrastructure and development of natural resource projects. The
Opemiska property covers 12,782 hectares and covers the past
producing Springer, Perry, Robitaille and Cooke mines, owned and
operated by Falconbridge. The project has the ideal in-place
infrastructure, including a power station and direct access to
Highway 113 and the Canadian National Railway.
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. Downhole deviations surveys are done with
a Reflex instrument at 30m
intervals. A systematic density measurement program using two
methods was implemented to measure the density of all rock
types. A specific susceptibility measurement protocol was
also 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the TSX Venture Exchange
policies) accept responsibility for this release's adequacy or
accuracy. Certain information in this press release may contain
forward-looking statements. This information is based on current
expectations 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. assume 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 QC Copper and Gold Inc. filings with Canadian
securities regulators, which filings are available under QC Copper
and Gold Inc. profile at www.sedar.com.
SOURCE QC Copper & Gold Inc.