QC Copper and Gold pegs Opemiska at 2.09 billion lb CuEq M&I, Quebec

QC Copper and Gold Inc. [TSXV-QCCU; OTCQB-QCCUF] reported upgraded mineral resource estimate (MRE) results for the Opemiska project in Quebec’s Chapais-Chibougamau district. This enhanced 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.

Highlights: Mineral Resource in Measured and Indicated Mineral Resources 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 silverAdditionally, Inferred Mineral Resources of 157 million lbs of copper equivalent contained in 11.0 million tonnes, 127 million lbs of copper, 70,000 ounces of gold and 907,000 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 starter pit comprises 19.1 million tonnes at 1.1% CuEq, all in the Measured and Indicated Mineral Resources categories.

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 proximity to the “

“We are proud to deliver to shareholders an MRE that defines Canada’s highest grade copper open pit deposit. This MRE details the immense value of owning such a sizable, high-grade asset with excellent accessibility and infrastructure. Furthermore, QC Copper and Gold’s Opemiska is in the heart of NW Quebec, a stable mining jurisdiction, where we see Opemiska as the anchor to revitalizing the storied Chapais-Chibougamau copper-gold district in Eastern Canada. We look forward to Opemiska’s continued expansion, development, and significant economic impact for stakeholders in the years ahead,” said Stephen Stewart, CEO and Chairman of QC Copper.

A conceptual starter pit has been calculated for the Opemiska Deposit with 19.1 million Measured and Indicated tonnes at 1.1% CuEq. A high-grade starter pit provides more options in development scenarios as it allows for a potential short payback period or a staged development scenario, which potentially improves the project’s economics.

A significant out-of-pit Measured and Indicated Mineral Resource has been added to the Opemiska Deposit with 268 million lbs of copper, 83,000 ounces of gold, and 1.3 million ounces of silver, or 305 million lbs of copper equivalent contained in 10.1 million tonnes. Additionally, there are out-of-pit Inferred Mineral Resources of 23 million lbs of copper, 15,000 ounces of gold, and 218,000 ounces of silver, or 29 million lbs of copper equivalent contained in 1.2 million tonnes.

“With a total resource grade of 0.78% Cu, Opemiska is Canada’s highest grade open pit copper deposit with resources greater than 1 billion pounds of contained copper. This updated Mineral Resource for Opemiska is a major step towards advancing the project to mine development,” said Charles Beaudry (M.Sc., P.Geo. geo.), Vice President of Exploration and Director of QC Copper and Qualified Person.

The Opemiska Copper Complex is adjacent to Chapais, Quebec, within the Chibougamau district. 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 100%-QC Copper owned Opemiska Property covers 24,544 hectares and includes 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 Cooke and Robitaille Mines are situated on the Cooke-Robitaille option claims and QC Copper is working through its obligations regarding the option and has the financial resources and expects to exercise the option in due course.