QC Copper Acquires Stake In Roger Gold Project
QC Copper and Gold (TSXV: QCCU) has expanded its holdings in the Chibougamau District of Quebec. The firm this morning announced that it has acquired a 50% stake in the Roger Gold-Copper project in the region, with the other 50% of the project currently held by a subsidiary of Investissement Quebec.
The Roger gold project is reportedly an advanced-stage exploration project that houses an NI 43-101 compliant resource estimate at the Roger gold-copper deposit via a pit-constrained model. Completed in August 2018, the resource estimate outlines indicated resources of 333,000 of gold equivalent ounces at 0.85 g/t gold, 0.80 g/t silver and 0.06% copper. An estimate of 202,000 ounces of gold equivalent at 0.75 g/t gold, 1.18 g/t silver, and 0.11% copper also exists on the property.
The project is 987 hectares in size, located within the Abitibi greenstone belt while reportedly having all-season road access. The project as a whole has seen drilling of 58,000 metres.
The 50% stake in the firm was acquired from that of Pasofino Gold for total consideration of $2.2 million. Consideration is to consist of $1.0 million in cash and the issuance of 5.5 million shares.
QC Copper last traded at $0.18 on the TSX Venture.
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