TORONTO, May 31, 2021 /CNW/ - QC Copper and Gold Inc.
("QC Copper" or the "Company") (TSXV: QCCU) is
pleased to report assay results from its recently completed drill
program on its flagship Opemiska Copper-Gold project in the
Chibougamau-Chapais mining district. These drill results
are from the Saddle Zone, represent the area between the Opemiska's
Springer and Perry Mines. The Saddle
Zone reflects new mineralization not contained in the Company's
geological model, and the Company anticipates these results could
consolidate the Springer and Perry pits into a single open pit
design. Highlights include:
Hole OPM-21-51:
- 138.0 metres of 0.48% copper
equivalent*,
-
- Including 76.5 metres of 0.78% copper
equivalent*
- and including 27.8 metres of 1.40% copper
equivalent*
Hole OPM-21-50:
- 40.1 metres of 0.71% copper equivalent*
Hole OPM-21-49:
- 39.6 metres of 0.50% copper equivalent*
Click here to View a Presentation of Plans, Sections &
Intersections from Table 1.
Reported Mineralized Intersections to Date in the Saddle Zone.
Table 1.
Hole
ID
|
Inter-val
(m)
|
From
(m)
|
To
(m)
|
Grade
|
Copper
Eq (%)*
|
Copper
(%)
|
Gold
(gpt)
|
Silver
(gpt)
|
Zinc
(ppm)
|
Cobalt
(ppm)
|
OPM-21-28^
|
55
|
140.0
|
195.0
|
0.30
|
0.223
|
0.059
|
1.36
|
66
|
46
|
incl.
|
7.5
|
170.0
|
177.5
|
1.46
|
1.177
|
0.305
|
5.70
|
77
|
53
|
OPM-21-29^
|
26
|
132.0
|
158.0
|
0.37
|
0.279
|
0.07
|
1.51
|
83
|
49
|
OPM-21-44
|
21
|
57.0
|
78.0
|
0.52
|
0.402
|
0.113
|
2.257
|
114
|
40
|
OPM-21-46
|
10.5
|
25.5
|
36.0
|
0.51
|
0.423
|
0.050
|
3.300
|
100
|
37
|
and
|
21
|
144.0
|
165.0
|
0.44
|
0.114
|
0.417
|
3.164
|
329
|
45
|
OPM-21-49
|
39.6
|
110.4
|
150
|
0.50
|
0.395
|
0.095
|
2.231
|
74
|
29
|
OPM-21-50
|
40.1
|
221.5
|
251.6
|
0.71
|
0.558
|
0.149
|
3.167
|
142
|
38
|
OPM-21-51
|
138
|
49.5
|
187.5
|
0.48
|
0.390
|
0.066
|
1.997
|
89
|
48
|
incl.
|
76.5
|
111.0
|
187.5
|
0.78
|
0.646
|
0.113
|
3.239
|
114
|
52
|
and incl.
|
27.8
|
133.4
|
161.2
|
1.40
|
1.155
|
0.250
|
5.206
|
170
|
58
|
*
|
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.
|
These results are for holes drilled into the Saddle Zone that
arose from the open pit modelling done during our internal studies
last fall. The Saddle Zone was a "dead zone" that emerged
from the absence of mined veins in this area between the Springer
and Perry mines. The Company's 2021 drill program, which was
primarily focused on twinning historical surface mine holes to
validate the assays done by the mine, was also meant to test
expanding the mineralization on the edges of the modelled pit,
including the Saddle Zone. These drill results clearly
indicate that this Zone contains significant mineralized
intervals.
"It is hard to overstate the significance of these results, said
Charles Beaudry, Director and VP
Exploration for QC Copper and Gold Inc and Qualified Person,
as defined in National Instrument 43-101, Standards of Disclosure
for Mineral Projects. Our modelling of the mineralization on the
Springer and Perry Mines is based on
the known veins, which have all been digitized. These zeins are
surrounded by envelopes of lower grade mineralization that were
also digitized. However whatever outside these envelopes we imputed
zero grade. In the absence of mined veins, which is the case
in the Saddle Zone, where our previous model was unable to
attribute any values. These new results will likely lead to the
possibility of excavating at least some of the Saddle Zone. A
pit optimizer, which is an algorithm that maximizes the revenue
from a deposit at each mining period, will ultimately determine the
economic value surrounding the possible addition of the Saddle Zone
to our model. However, prospect of excavating the Saddle Zone is
significant as it impacts the strip-ratio but also allows the
modelled pit(s) to go deeper."
"A reasonable cut-off grade at Opemiska is about 0.25%
copper-equivalent and the drill intersections of disseminated
mineralization obtained in 2019 and to date in 2021 range between
0.4 to 0.6% Cu-eq over 50 to 100 metres in width. When we
include the crown pillars, the average grade is even higher and
this suggests the project is quite robust. We continue to be
very optimistic regarding the upcoming mineral resource estimate
numbers", added Mr. Beaudry.
The 20,000 metres drill program is now complete with the final
batch of samples is expected to leave the project in about four
weeks. The turnaround time at the laboratory is currently about 4
to 6 weeks. Based on these constraints, the Company's best estimate
is for a mineral resource estimate to be published in August.
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
intersect 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.
For information and updates on QC Copper and Gold, please
visit: www.qccopper.com
And please follow us on Twitter @qccoppergold
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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.