QC Copper and Gold Inc. (TSXV: QCCU) shared today the results of its initial mineral resource estimate for the Opemiska Project located in the Chibougamau District of Quebec. The report includes a measured & indicated resource containing 1.6 billion copper equivalent pounds.
The data came from over 1.05 million metres of drilling completed by the firm and the former operators of the project.
The measured & indicated mineral resource estimate consists of 81.67 million tonnes grading at 0.88% copper equivalent. On the other hand, inferred mineral resource estimate comprises 21.35 million tonnes of material grading at 0.73% copper equivalent for 345.8 million pounds. The report has a 0.2% copper equivalent cut-off and base case prices of US$3.50 per copper pound and US$1,650 per gold ounce.
“Leveraging over 1 million metres of drilling completed by QC Copper and previous operators, the current Mineral Resource demonstrates a high degree of confidence with 82% of the Mineral Resource in the M&I classification. We emphasize that this is just the initial Mineral Resource for Opemiska, and that all Mineral Resources we are reporting here are constrained to an optimized open pit,” said QC Copper CEO Stephen Stewart.
QC Copper and Gold 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.