QC Copper and Gold Inc. (TSX-V: QCCU) is pleased to report another robust copper intersection in the Saddle Zone, a previously unmined structural corridor located between the Springer and Perry conceptual pits.
Hole 98 returned 100 metres grading 0.5% Copper Eq starting 7 metres downhole. Additionally, the same hole intersected a separate 9.0 metre interval of 18.3 gpt gold and 1.7% zinc, all within the Saddle Zone of its Opemiska Copper-Gold project.
18.3 gpt Gold over 9.0 metres: Significance of Hole 98’s High-Grade Gold Intersections
Near the bottom of hole 98, a wide pyrite-rich vein was intersected returning a 9.0 metre interval grading 18.30 g/t gold (uncut or 10.4 g/t gold when applying a 30 g/t top cut). The core angles observed with the vein are consistent with the orientation Vein #2, namely EW strike and moderate to steep north dip, indicating the true thickness of the vein is about 75% of the core length.
“The spectacular gold assay in hole OPM-21-98 and historical mine assays underline the significant gold on the Opemiska Project, particularly in the southern part of the Springer Mine, near the Gwillim Fault”, explained Beaudry. “We previously presented a new deposit model that highlights the role of the Gwillim Fault. These results along with the historical drill results suggest that the Gwillim Fault, long thought to be a late, post-mineral event, may actually be contemporaneous with the mineralization suggesting that the whole fault structure itself deserves to be considered as an exploration target. Little attention has been paid to the Gwillim Fault because of poor outcropping and lack of early success in testing this structure.”
Saddle Zone: Connecting the Springer and Perry Open Pits
The Saddle Zone represents a substantive resource expansion opportunity given no historical mining occurred in the area between the Springer and Perry Mines. Although the Saddle Zone was known to Falconbridge, their decision to dismiss the zone reflected high underground mining costs and prevailing metal prices in the 1980-1990’s. However, QC Copper’s approach focuses on defining low-grade halos around existing high-grade veins that are amenable to open-pit mining. To date, the current drill program intersected significant intervals of mineralization in at least eight separate Saddle Zone holes, with results for two holes (96 and 100) expected shortly.
“Our Saddle Zone results thus far provide four potential benefits to the project: significant expansion of mineralization above the presumed cut-off grade of 0.25% Copper Equivalent; the potential integration of the Springer and Perry conceptual pits into a single super pit; the possibility of deepening the overall pit outline and; the possible reduction of the waste material in relation to the mineralized tonnage. We believe that an updated understanding of the Saddle zone will undoubtedly improve our baseline numbers”, said Charles Beaudry, VP Exploration of QC Copper.
Table 1: Reported 2021 Mineralized Intersections from the Saddle Zone.
|and from||Vein 2||337.5||346.5||9.0||18.29||8,783|
|^||Previously published results.|
|*||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.|
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, veining is predominantly EW trending and steeply dipping to the north. South-facing drill holes were conducted in order to better approximate true widths. However, mineralized intervals typically expand well beyond the main veins as part of cross cutting veinlets creating disseminated mineralized halos. In the disseminated mineralization, the true width of intersections is estimated to be the same as the drill core width.
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, previously-owned and operated by Falconbridge between 1953-1991. The project hosts excellent on-site infrastructure, including a power station and direct access to Highway 113 and the Canadian National Railway.
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.
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We acknowledge the [financial] support of the Government of Canada.