QC Copper & Gold Continues to Convert Waste into Mineralization with over 20 New In-Pit Intersections
Highlights include:- 43.5 metres at 0.67% Copper Equivalent
- 40.5 metres at 0.62% Copper Equivalent
- 166.5 metres at 0.32% Copper Equivalent
- 150 metres at 0.30% Copper Equivalent
TORONTO, June 1, 2022 - QC Copper and Gold Inc. ("QC Copper" or the "Company") (TSXV: QCCU) (OTCQB: QCCUF) is pleased to announce new assay results from its ongoing 60,000 metre drill program on Opemiska. The headline intersections are from hole OPM-22-164 and OPM-22-169, respectively and were both from the southern part of the Springer pit. These holes 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).
Summary of significant reported composite intersections on Opemiska Project: Table 1
| Hole ID | Zone | From | To (m) | Interval | Grade | |||||
| Copper Eq | Copper | Gold | Silver | Zinc (ppm) | Cobalt (ppm) | |||||
| OPM-22-164 | Springer | 269.5 | 436.0 | 166.5 | 0.32 | 0.19 | 0.155 | 1.22 | 59 | 35 |
| OPM-22-169 | Springer | 174.0 | 217.5 | 43.5 | 0.67 | 0.44 | 0.244 | 2.47 | 102 | 73 |
| OPM-22-152 | Vein#2 | 144.0 | 159.0 | 15.0 | 0.83 | 0.72 | 0.092 | 3.12 | 86 | 38 |
| OPM-22-154 | Springer | 63.0 | 103.5 | 40.5 | 0.62 | 0.35 | 0.332 | 1.99 | 97 | 60 |
| OPM-22-156 | Vein#2 | 277.5 | 282.0 | 4.5 | 1.44 | 1.24 | 0.119 | 7.83 | 89 | 68 |
| OPM-22-158 | Springer | 7.5 | 159.0 | 151.5 | 0.26 | 0.17 | 0.068 | 1.59 | 165 | 51 |
| OPM-22-159 | Springer | 30.0 | 160.5 | 130.5 | 0.20 | 0.07 | 0.13 | 1.47 | 356 | 30 |
| OPM-22-160 | Vein#2 | 21.0 | 43.5 | 22.5 | 0.33 | 0.22 | 0.105 | 1.64 | 32 | 35 |
| OPM-22-161 | Vein#2 | 46.5 | 96.0 | 49.5 | 0.42 | 0.33 | 0.06 | 2.61 | 100 | 39 |
| OPM-22-161 | Vein#2 | 139.5 | 145.5 | 6.0 | 0.62 | 0.52 | 0.06 | 3.08 | 59 | 44 |
| OPM-22-162 | Saddle | 69.0 | 84.0 | 15.0 | 0.84 | 0.60 | 0.273 | 3.68 | 104 | 56 |
| OPM-22-163B | Saddle | 91.5 | 115.5 | 24.0 | 0.50 | 0.39 | 0.104 | 2.39 | 46 | 33 |
| OPM-22-165 | Saddle | 162.0 | 1181.5 | 19.5 | 0.65 | 0.51 | 0.128 | 2.12 | 88 | 50 |
| OPM-22-166 | Saddle | 66.0 | 76.5 | 10.5 | 0.28 | 0.19 | 0.08 | 1.61 | 76 | 35 |
| OPM-22-167 | Springer | 31.5 | 43.5 | 12.0 | 0.71 | 0.54 | 0.179 | 2.63 | 65 | 38 |
| OPM-22-167 | Springer | 181.5 | 192.0 | 10.5 | 1.24 | 0.42 | 1.128 | 4.51 | 42 | 115 |
| OPM-22-168 | Saddle | 150.0 | 166.5 | 16.5 | 0.72 | 0.63 | 0.06 | 2.96 | 101 | 40 |
| OPM-22-169 | Springer | 9.0 | 30.0 | 21.0 | 0.29 | 0.07 | 0.149 | 0.79 | 54 | 23 |
| OPM-22-169 | Springer | 57.0 | 69.0 | 12.0 | 0.54 | 0.43 | 0.107 | 1.85 | 66 | 41 |
| OPM-22-170 | Saddle | 93.0 | 99.0 | 6.0 | 0.44 | 0.34 | 0.073 | 2.13 | 103 | 41 |
| OPM-22-171 | Vein#2 | 87.0 | 237.0 | 150.0 | 0.30 | 0.23 | 0.045 | 1.11 | 55 | 47 |
| Including | Vein#2 | 183.0 | 208.5 | 25.5 | 0.93 | 0.74 | 0.183 | 3.0 | 95 | 65 |
| OPM-22-172 | Springer | 256.5 | 301.5 | 45.0 | 0.31 | 0.20 | 0.088 | 1.84 | 102 | 51 |
| * | 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. |
"These results are all within the conceptual open pit 2021 MRE, specifically from the Saddle Zone, Vein #2 and from the south side of Springer. The broad intersections continue to confirm wide mineralized intervals surrounding historical stopes, thus confirming our thesis that significant mineralization, currently defined as waste, exists inside the pit. We are confident that with this and further drilling, we will be able to significantly reduce the stripping ratio defined by our conceptual pit. In addition, these results indicate that the Saddle Zone is larger than we estimated in our mineral resource estimate and that the Saddle Zone may extend southward to Vein #2," said Charles Beaudry, Director and Vice President of Exploration for QC Copper,
As of May 29th, a total of 24,733 metres of drilling over 96 holes have been completed on the property since the publication of the 2021 MRE.
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
Stephen Stewart, Chief Executive Officer, Phone: 416.644.1571, Email: sstewart@qccopper.com
