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QC Copper Closes Its Acquisition of 10% Interest in Ontario's Largest Copper Resource, Thierry Copper Mine
Toronto, Ontario--(Newsfile Corp. - October 31, 2023) - QC Copper and Gold Inc. (TSXV: QCCU) (OTC...
About this update from Xxix Metal Corp.
[{"type":"text","content":"QC Copper Closes Its Acquisition of 10% Interest in Ontario's Largest Copper Resource, Thierry Copper MineToronto, Ontario--(Newsfile Corp. - October 31, 2023) - QC Copper and Gold Inc. (TSXV: QCCU) (OTCQB: QCCUF) (\"QC Copper\" or the \"Company\") is pleased to announce the closing of a 10% interest in a private company that owns 100% of the Thierry Copper Mine (\"Thierry\"), located in Pickle Lake, Ontario. Thierry is Ontario's largest primary copper resource and includes a recent PEA covering only the underground portion of the known resources. Orecap's view is that Thierry's primary upside is its near-surface bulk tonnage potential growth. Thierry reflects Orecap's strategy of acquiring opportunities from special situations and incubating new high-potential brownfield projects with excellent infrastructure and jurisdictions. Recent drill holes from September 20, 2023 support this view:CCM-23-51 intersecting 106 metres of 0.539% Copper Equivalent (\"CuEq\") mineralization (including 23.2 metres of 0.875 % CuEq mineralization) within continuous sulphide mineralization which started at surface and extended 247.8 metres down the hole, grading 0.438% CuEq.CCM-23-52 intersecting 31.2 metres of 0.677% CuEq mineralization and 22.8 metres of 0.670% CuEq mineralization within continuous sulphide mineralization which started at surface and continued for 243.9 metres down the hole, grading at 0.382% CuEq.*Copper Equivalent (CuEq) for drill intersections is calculated based on US$ 3.75/lb Cu, US$ 9.25/lb Ni, US$ 1,190/oz Pd and US$ 910/oz Pt with 100% metallurgical recoveries for all metals. Assays have not been capped. The formula used for the calculation is: CuEq = Cu % + (Ni grade X Ni Price)/(Cu Price) + ((Pd grade) X (Pd price / 31)) / (Cu price X 22 ) + ((Pt grade) X (Pt price/31)) / (Cu price X 22).Eastern Canada Copper Projects - Figure 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9282/185583_447bae05248c4807_002full.jpgThierry is in the well-known and mature mining district of Pickle Lake, Ontario, with access to rail, highways, power, and other infrastructure required to develop a mine. This is a unique opportunity to participate in the development of an asset of this scale with this level of infrastructure that's in a premier mining jurisdiction. Eastern Canada is starved of ...