Toronto, ON – February 23, 2024 – QC Copper and Gold Inc. ("QC Copper" or the "Company") (TSXV: QCCU) is pleased to announce the publication of its updated Technical Report for the pit-constrained Mineral Resource Estimate (MRE) on the Opemiska Deposit which the Company announced on January 8, 2024. The Technical Report is available on the Company’s website and SEDAR+.
Highlights include:
Mineral Resource in Measured and Indicated category of 2.09 billion lbs of copper equivalent contained in 97.5 million tonnes or
1.75 billion lbs of copper,
845 thousand ounces of gold,
5.5 million ounces of silver
Additional Inferred Mineral Resource of 157 million lbs of copper equivalent contained in 11.0 million tonnes,
127 million lbs of copper,
70 thousand ounces of gold
907 thousand ounces of silver
Grade and Mineral Resource Increase: Achieved a remarkable 26% increase in the Copper total grade, an 11% increase in CuEq total grade, and a 16% rise in CuEq pounds compared to the 2021 Measured and Indicated Mineral Resource Estimate.
Significant Starter Pit: A sizable potential starter pit comprises 19.1 million tonnes at 1.1% Cu-Eq, all in the Measured and Indicated Mineral Resources categories.
Favorable Metallurgy: Preliminary test work has confirmed very favorable metallurgical characteristics.
Expansion Potential: Confirmed potential for Opemiska's expansion within the pit, at depth with an out-of-pit (underground) mining scenario, and growth of the satellite pits to the east, as well as in close proximity to the Cooke and Robitaille Mines.
This updated MRE reflects a significant increase in grade and contained metal, attributed to extensive drilling and our technical team's two-year recompilation and reinterpretation of geological data. The Company also underscores that the qualitative improvements in the database enhance our confidence in the project’s geological model and, by extension, the Mineral Resource Estimate.
Table 1: Opemiska Deposit Summary of Pit Constrained Mineral Resources, 0.15% CuEq cut-off and Out-of-Pit Mineral Resources, 0.8% CuEq cut-off(see footnotes 1-10)
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