Toronto, ON – September 13, 2021 – QC Copper and Gold Inc. ("QC Copper" or the "Company") (TSXV: QCCU) is pleased to detail its interpretation of the gold potential on its Opemiska Copper-Gold Mine Complex in the Chibougamau district of Quebec.
“While Opemiska is a copper-dominated system, the project has historically produced significant gold credits. Consistent with historical data showcasing significant gold content, recent drilling continuing to return robust gold values incl. 18.3 g/t over a 9 metres separate from a broader interval of 100 metres grading 0.5% CuEq higher up in the hole (hole OPM-21-98). We anticipate potential gold credits will play an important role in further enhancing the Opemiska’s project economics in a future development scenario.” said Charles Beaudry, P.Geo and géo., Director and Vice President Exploration for QC Copper & Gold.
Hole 98’s 18.3 gpt gold over 9.0 metre Intersection (Vein #2, Springer Mine)
QC Copper and Gold’s news release of July 26, 2021 reported a wide high-grade gold intersection in hole 98 on the edge of Vein #2. This mineralized intersection appears to be a local gold remobilization and enricment because it has low copper values. This style of mineralization is distinct from the high gold copper veins that were historically mined in the south part of the Springer Mine, near the Gwillim Fault.
Holes OPM-21-88 and OPM-21-90 (South Springer Pit, Gwillim Fault)
Hole 88 (see QC Copper news release of 7 September 2021), collared on the south limit of the Springer Mine conceptual pit, returned 133.6m grading 0.7% CuEq and included a 1.5m sample assaying 17.6 gpt Au (from 27.0 to 28.5 m) and another sample with 5.44 gpt Au over 1.5m (from 118.5 to 120.0 m) and a total of 13 samples in the mineralized interval assayed over 0.3 gpt gold with all but one of these samples assaying more than 0.5% copper. One sample from hole 90 assayed 3.47 gpt gold whereas 8 samples assayed over 0.3 gpt gold and all but 2 of these samples assayed over 0.5% copper. “There is no doubt that gold at Opemiska is both associated with copper veins and enriched near the Gwillim on the one hand and occurs remobilized in low copper gold veins throughout the Springer and Perry Mines and we will use this knowledge to explore the project area over the 13km of prospective Gwillim Fault structure, commented Beaudry”.
Gold Deposition within the Gwillim Fault
Our geological model indicates that gold grades increase in relation to their proximity to Gwillim Fault. This observation ties in well with the Company’s upcoming drill programs which include numerous targets located along and proximal to the Gwillim Fault. In Hole 98, high-grade gold appears to be remobilized as high copper grades do not accompany it. This suggests at least two phases of gold deposition, those where lower gold grades appear along with high-grade copper and a later phase gold remobilization with lower-grade copper.
Figure 1 depicts the historical assays from the Opemiska Project with greater than 8.0 gpt gold. Approximately 2,600 historical samples were assayed over 8.0 gpt gold, with 64% of these samples occurring within 300 metres of the Gwillim Fault, which confirms the correlation of gold with this important fault structure. The veins on the southern limit of the Springer Mine contain significantly higher gold values than elsewhere in the district. The Company considers this gold enrichment near the Gwillim Fault as significant evidence for the concurrent movement structures on the Gwillim Fault and generation of copper-gold mineralization in the Venture and Bourbeau sills. This thesis confirms the potential for the Gwillim Fault as an important and highly prospective exploration target, much of is which is untested due to lack of outcrop.
High Gold grades from the 2019 and 2021 Drilling Programs
Figure 2 shows the surface projection of all the samples from the 2019 and 2021 diamond drilling programs on te Opemiska and Cooke-Robitaille properties with gold assays over 1.0 gpt. Within the group some samples contain high copper values whereas other samples contain only low copper grades. On the Opemiska Property the highest gold assays are in hole 98 and decribed above within a 9.0m interval grading 18.3 gpt gold. On the contiguous Cooke-Robitaille Property the highest gold assays came from a vein intersected within the Gwillim Fault itself. A total of 46 samples from holes drilled on both properties returned assays over 1.0 gpt.
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 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 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.
For information and updates on QC Copper and Gold, please visit: www.qccopper.com
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To speak to the Company directly, please contact:
Stephen Stewart, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accept responsibility for this release's adequacy or accuracy. Certain information in this press release may contain forward-looking statements. This information is based on current expectations 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. assume 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 QC Copper and Gold Inc. filings with Canadian securities regulators, which filings are available under QC Copper and Gold Inc. profile at www.sedar.com.