Business
QC Copper to Acquire 50% Interest in Roger Gold Project in Chibougamau, Releases Webinar Update
QC Copper to Acquire 50% Interest in Roger Gold Project in Chibougamau, Releases Webinar ...
About this update from Xxix Metal Corp.
[{"type":"text","content":"\n \n \n \n QC Copper to Acquire 50% Interest in Roger Gold Project in Chibougamau, Releases Webinar Update\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n April 5, 2021\n \n /CNW/ - QC Copper and Gold Inc. (\"\n \n QC Copper\n \n \" or the \"\n \n Company\n \n \") (TSXV: QCCU) is pleased to announce that it has signed a definitive agreement to acquire a 50% ownership interest in the Roger Gold-Copper project (\"Roger\" or the \"Project\") in the\n \n Chibougamau\n \n District of\n \n Quebec\n \n .\n \n \n \"This is a strategic asset acquisition that fits into our vision for a consolidated\n \n Chibougamau\n \n District. The Roger is a sizable NI 43-101 pit constrained gold-copper resource with plenty of expansion potential and is proximate to our flagship Opemiska project. The Opemiska and its ongoing drill program remains our core focus however we felt compelled to act when Roger opportunity presented itself. When shareholders evaluate this pit constrained resource relative to the consideration paid, I believe they will see the value of this accretive acquisition,\" said Stephen Stewart, QC Copper's CEO.\n \n \n \n \n View QC Copper's Webinar Detailing the Roger Transaction\n \n \n \n \n \n Acquisition Terms of Roger\n \n \n QC Copper acquired its 50% interest in Roger from Pasofino Gold Ltd. (\"Pasofino\") (VEIN:TSXV). The other 50% interest remains with SOQUEM,a subsidiary of Investissement Québec. Upon closing, QC Copper will issue Pasofino\n \n $1 million\n \n in cash and 5.5 million shares. This represents a total consideration paid to Pasofino, as at QC Copper's\n \n April 2, 2021\n \n closing price, of\n \n $2 million\n \n . This transaction is subject to TSXV approval and Soquem waiving its right of first refusal. The Roger Gold-Copper project is a royalty free property.\n \n \n \n Exploration Potential on Roger Gold-Copper Project\n \n \n The Roger deposit has been interpreted as a reduced-type intrusion-related porphyry gold-copper deposit that shows both li...