QC Copper and Gold Inc. (TSX-V:QCCU, OTCQB:QCCUF) has entered into an agreement to acquire a 10% interest in a private company that owns 100% of the Thierry copper project in Pickle Lake, Ontario.
The consideration is C$300,000 cash upfront.
Thierry is Ontario’s largest primary copper resource, spanning 4,670 hectares across 27 mineral leases.
The property hosts two past-producing open pits that subsequently transitioned to underground mining. Significant infrastructure is already in place, with the property being accessible via all all-season road, an airport within 5km, available hydro and nearby rail.
A recent PEA covered only the underground portion of the known resources, leaving as primary upside the K1-1 open pit deposit and a potential bulk tonnage operation.
Recent drill holes from September 2023 support this thesis.
Among the most notable intercepts were 106 metres of 0.539% copper equivalent, and 31.2 metres of 0.677% copper equivalent.
Pickle Lake is a well-known and well-developed mining camp in Ontario, with access to rail, highways, power, and other infrastructure required to develop a mine.
With this investment, QC Copper now has exposure to two of the five largest primary copper projects in Eastern Canada.