TORONTO, Nov. 30, 2021 /CNW/ - QC Copper and Gold Inc. ("QC Copper" or the "Company") (TSXV: QCCU) is pleased to announce the completion of the acquisition of 100% interest in 38 claims from a private arm's length company. The claims cover 2,112 hectares of highly prospective ground that connects two land parcels of the Opemiska Copper Project. The Opemiska is now collectively 15,518 hectares comprising the Springer, Perry, Robitaille and Cooke mines and 13 kilometres of the Gwillim Fault.
The western section of the Opemiska Project contains the resource deposits and is where Falconbridge mined for nearly 40 years. The eastern section of the Opemiska is prospective for new discoveries and is known to host VMS mineralization.
"This is a strategic land parcel that fills a gap in QC Copper's land holdings in the Chapais area. The area is underlain by the lower unit of the Chibougamau volcanic stratigraphy known for the Lemoine Mine and Scott VMS deposits and the same type of underlying favourable felsic volcanic rocks are present on the property as well as known outcroping and stripped exhalative sulphide horizon at the Sawmill Showing that is located along strike to a well defined, geophysically mapped, stratigraphic horizon that we will be testing in the coming months with a large loop, super deep penetrating ground EM survey", said Charles Beaudry, Director and VP Exploration.
QC Copper is acquiring 100% of the 38 claims and has issued 150,000 common shares of the Company and paid $10,000 in cash to the vendor, an arm's length private company. The vendor will retain a 2% Net Smelter Royalty, of which 50% of can be repurchased for $500,000.
The technical information contained in this news release and the referenced webinar have been reviewed and approved by Charles Beaudry, P.Geo and géo., Director and Vice President Exploration for QC Copper and Gold Inc., who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects".
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 & Gold Inc.
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