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.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.