QC Copper Publishes the Technical Report for Opemiska Deposit's Pit Constrained Mineral Resource Estimate

Canada NewsWire

TORONTO, Nov. 4, 2021

TORONTO, Nov. 4, 2021 /CNW/ - QC Copper and Gold Inc. ("QC Copper" or the "Company") (TSXV: QCCU) is pleased to announce the publication of the Technical Report for the pit-constrained mineral resources estimate on the Opemiska Deposit which the Company announced on September 20, 2021. The Technical Report is available on the Company's website and SEDAR.

Highlights of Opemiska's Mineral Resource Estimate Include:

   -- The Opemiska Deposit consists of 81.7M tonnes @ 0.88% CuEq of pit 
      constrained Measured and Indicated Mineral Resources and 21.4M tonnes @ 
      0.73% CuEq of Inferred Mineral Resources. 
   -- The Mineral Resource is pit-constrained and contains more than 532,000 
      tonnes or 1.17 billion lbs of copper and 816,000 ounces of gold in the 
      Measured & Indicated (M&I) classification and an additional 109,000 
      tonnes or 240.0 million lbs of copper and 209,000 ounces of gold in the 
      Inferred classification. 
   -- Over 79% of the total Mineral Resource reports to the M&I classification. 
   -- Opemiska's initial Mineral Resource includes over 1.05 million metres of 
      drilling completed by QC Copper and former operators of the Project. 
      Significant drilling density and extensive records from previous 
      operators have supported a high-confidence Mineral Resource. 
   -- Within the larger Mineral Resource, the Company has identified a 
      high-grade potential starter pit of 10.6M tonnes of Measured & Indicated 
      Mineral Resources grading 1.26% CuEq. 
   -- The Mineral Resources are pit constrained at a 0.2% CuEq cut-off, 
      inclusive of US$3.50/lb copper and US$1,650/oz gold prices. 
   -- The Company has outlined multiple targets for expansion and discovery 
      drilling this coming winter. These targets include extensional drilling 
      to expand the existing Mineral Resource envelope, proximal former mines 
      including the adjacent Cooke & Robitaille deposits, and other prospective 
      targets along the Gwillim and Beaver Lake fault zones. 

A summary of the Mineral Resource Estimate is presented in Table 1, and the optimized pit shell is shown in Figure 1.

Table 1: Opemiska Deposit Summary of Pit Constrained Mineral Resources, 0.2% CuEq cut-off (see footnotes 1-8)

Category    Tonnage     Copper  Gold   CuEq   Contained  Contained    Contained 
            (millions)   (%)    (g/t)  (g/t)   Copper    Gold(k oz)*  CuEq(million lbs)* 
                                               (million 
                                               lbs)* 
Measured         64.94   0.64%   0.32  0.88%      918.2        676.6             1,254.9 
Indicated        16.73   0.69%   0.26  0.88%      255.2        139.0               325.8 
Total M&I        81.67   0.65%   0.31  0.88%    1,173.4        815.6             1,580.7 
Inferred         21.35   0.51%   0.30  0.73%      239.8        209.2               345.8 
1.  Mineral Resources which are not Mineral Reserves do 
     not have demonstrated economic viability. The estimate 
     of Mineral 
     Resources may be materially affected by environmental, 
     permitting, legal, title, taxation, socio-political, 
     marketing, or other 
     relevant issues, although QC Copper & Gold is not 
     aware of any such issues. 
2.  The Inferred Mineral Resource in this estimate has 
     a lower level of confidence than that applied to an 
     Indicated Mineral 
     Resource and must not be converted to a Mineral Reserve. 
     It is reasonably expected that the majority of the 
     Inferred 
     Mineral Resource could be upgraded to an Indicated 
     Mineral Resource with continued exploration. 
3.  The Mineral Resources were estimated using the Canadian 
     Institute of Mining, Metallurgy and Petroleum (CIM), 
     CIM 
     Standards on Mineral Resources and Reserves, Definitions 
     (2014) and Best Practices Guidelines (2019). 
4.  All historical underground excavations and stopes 
     and vein envelopes were digitized from scanned historical 
     plans and 
     sections. A bulk density of 2.97 metric tonnes per 
     cubic metre was used for all resources except for 
     the inferred in the 
     Springer pit where 2.94 was used. 
5.  The Mineral Resource reported here is based on a pit 
     optimization. All interpolation routines for the block 
     model were 
     constrained by hard boundary domained halos constructed 
     from the sectional interpretation of the disseminated 
     mineralization surrounding the historical mined veins. 
     Veins were interpolated separately and stope volumetrics 
     were 
     subsequently subtracted from the vein blocks to report 
     the correct tonnages and metal content of the residual 
     high-grade 
     vein material. 
6.  The 0.20% CuEq cut-off grade was derived from the 
     approximate August 2021 Consensus Economics long term 
     forecast 
     Cu and Au prices of US$3.50/lb and US$1,650/oz, US$ 
     exchange rate of $0.76, 80% Cu process recovery and 
     smelter 
     payable, mining C$2.25/t, processing C$13/t, G&A $3/t. 
7.  CuEq% = Cu% + (Au g/t x 0.72) + (Ag g/t x 0.01) 
8.  Cu lbs and Au oz may not calculate exactly due to 
     rounding. 

Click Here Figure 1: Graphical Depiction of Opemiska Mineral Resources and Constraining Pit Shell

Opemiska "Starter" Pit

The image below (Figure 2) depicts two high-grade potential starter pits which host 10.6 million tonnes grading 1.26% CuEq, or +45% higher grade than the overall Mineral Resource.

Click Here Figure 2: Plan View of Constraining Pit Shell and Potential High-Grade Starter Pits

Next Step: Drill to Expand the Initial Mineral Resources Estimate

At this time, the Company is focused on expanding the initial mineral resources estimate by drilling targets that could add significant open-pit tonnage to Opemiska. A follow-up drill program is currently underway that will complete 6,000 metres before 2021 year-end, with a more extensive, multi-drill rig program being planned for 2022.

Opemiska Infrastructure

The area has a rich history of mining and the resident population is favorably disposed to mining activities and hosts locally available skilled labour. The Opemiska Deposit is next to the Town of Chapais with a population of 1,609 (2019) and the Town of Chibougamau with a population of 7,559 (2020) is located approximately 40 kilometres to the east. Ample electrical power is available from a nearby substation on the James Bay powerlines which cross QC Copper's land holdings. An operational rail line is located within few kilometers from Chapais. Paved highways lead south to Lac St-Jean and Quebec City and southwest to Val d'Or and Rouyn-Noranda. Finally, the project is located in Quebec, the most mining friendly jurisdiction in Canada and north of the 49th parallel and as such is part of the Quebec government's Plan Nord initiative and could benefit from special fiscal and financial incentives.

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 over 155 square kilometres 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.

QP Statement

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, and Eugene Puritch, P.Eng. of P&E Mining Consultants Inc., both Qualified Persons, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects." Mr. Puritch is independent of QC Copper & Gold.

All drilling performed by QC Copper and Gold was done using NQ sized drill rods and holes were stabilized to minimized deviations. All core is stored in Chapais in a locked yard. All pulps have been preserved as well as mineralized rejects.

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 in 2019 and 2021 were positioned in UTM coordinates and post-drilling surveyed using differential GPS instrumentation. The historical mine holes were surveyed on surface and underground at the time of drilling by mine personnel using conventional surveying methods. The collars for 2019 were oriented by compass but in 2021 accurate non-magnetic orientation of collars was achieved using the gyroscopic Azimuth Aligner by Minnovare. Downhole deviations surveys were done with Flex-it instrument by Reflex instrument at 30m intervals, and all erroneous azimuths caused by excessive magnetism were purged from the database. A systematic bulk density measurement program using the water displacement method was implemented to measure the bulk density of all rock types. A total of 779 bulk density measurements were done for the 2019 drilling program and an additional 267 measurements were done in 2021. No bulk densities are available for the vendor drill holes or for the historical mine holes. 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 was