Business
XXIX's Opemiska PEA Confirms Positive Development Potential
Highlights: Total payable copper across Opemiska 17 year mine life : 715 million pounds of c...
About this update from Xxix Metal Corp.
[{"type":"text","content":"XXIX's Opemiska PEA Confirms Positive Development PotentialHighlights:Total payable copper across Opemiska 17 year mine life:715 million pounds of copper409 thousand ounces of gold2.08 million ounces of silverRobust after-tax base case economics: C$505M after-tax NPV8% (C$897 after-tax NPV8% using spot pricing) 27.2% after-tax IRR (39.3% after-tax IRR using spot pricing) Rapid payback: 2.3-year Base Case payback of C$617M initial capital resulting from upfront high-grading.Potential High-grade annual recovered payable production across the first six years:59 million pounds of copper per year 34 thousand ounces of gold per year174 thousand ounces of silver per yearLow Cost Producer: Opemiska is in the lower quartile of the cost curve with US$1.03/lb C1 cash cost net of by-product credits across the first six years. US$1.40/lb net of by-product credits over the life of mine.Significant leverage to rising copper and gold prices, with $4.40 billion in life of mine revenue70.7% copper27.9% gold 1.4% silverPlenty of Resource upside including Cooke gold zone with active drilling underway.Toronto, Ontario--(Newsfile Corp. - October 21, 2025) - XXIX Metal Corp‎. (TSXV: XXIX) (OTCQB: QCCUF) (FSE: 5LW0) (\"XXIX\" or the \"Company\") is pleased to announce the completion of a Preliminary Economic Analysis (\"PEA\")[1] on its Opemiska copper project (\"Opemiska\"), located in Chapais, Québec. The PEA evaluates the potential economic viability of Opemiska's mineral resources and is the first economic study on Opemiska since Falconbridge closed its underground mining operations in 1991. \"This is a significant milestone for Opemiska and XXIX. The results clearly indicate Opemiska's potential as a profitable operation Furthermore, the high-grade early years of the mine has resulted in a low C1 cash cost of US$1.03/lb (net of by-product credits) over the first six years, and US$1.40/lb (net of by-product credits) over the 17-year life of mine, placing the project in the lower quartile of the cost curve,\" said Guy Le Bel, CEO of XXIX. \"This project has the potential to bring in significant benefits to all stakeholders involved, including the town of Chapais and surrounding communities.\"Project OverviewThe 100%-owned Opemiska spans 21,333 hectares in Quebec's Chapais-Chibougamau region, with significant infrastructure in p...