Proactive Investors - QC Copper and Gold Inc. (TSX-V:QCCU, OTCQB:QCCUF) has released its updated technical report for the pit-constrained mineral resource estimate (MRE) on the Opemiska deposit.
The updated MRE indicates a substantial increase in measured and indicated mineral resources, with 2.09 billion pounds of copper equivalent contained in 97.5 million tonnes.
The total includes 1.75 billion pounds of copper, 845,000 ounces of gold, and 5.5 million ounces of silver.
Additionally, there is an inferred mineral resource of 157 million pounds of copper equivalent contained in 11 million tonnes, comprising 127 million pounds of copper, 70,000 ounces of gold, and 907,000 ounces of silver.
The report underscores significant improvements in grade and contained metal, with a notable 26% increase in copper total grade, an 11% increase in copper equivalent total grade, and a 16% rise in copper equivalent pounds compared to the 2021 estimate.
Moreover, a substantial starter pit has been identified, comprising 19.1 million tonnes at 1.1% copper equivalent, within the measured and indicated mineral resource categories which, QC Copper said, presents potential development options, including a short payback period or staged development scenarios that could enhance the project's economics.
Preliminary test work has confirmed favorable metallurgical characteristics, further supporting the project's viability.
The report also highlights the expansion potential of the Opemiska deposit within the pit, at depth through underground mining scenarios, and in satellite pits to the east, as well as in proximity to the Cooke and Robitaille mines.
Looking ahead, the firm plans to undertake further drilling within and near the conceptual pit area to potentially expand the mineral resources. Additionally, the company aims to conduct a preliminary economic analysis to evaluate the project's financial viability.
Situated within the Chibougamau district of Quebec, the Opemiska Copper Complex encompasses past-producing mines and boasts excellent on-site infrastructure, including power facilities and access to transportation networks.
The project aligns with the province of Quebec's Plan Nord, which supports infrastructure and resource development initiatives.