QC Copper and Gold Inc. (TSX-V:QCCU, OTCQB:QCCUF) has released encouraging new drill results from its ongoing 60,000-metre (m) drill program at the flagship Opemiska copper project in Quebec.
The results are from holes sunk within the conceptual open pit as perceived in last year's mineral resource estimate and confirm the company's theory that "significant mineralization", which is currently defined as waste, still lies inside the pit and could be mined.
The highlight intersections are in two holes - both from the southern part of the Springer pit - and include 43.5m at 0.67% copper-equivalent starting from 174m depth. Another hole showed 166.5m at 0.32% copper-equivalent starting from 269.5m depth.
READ: QC Copper and Gold reveals encouraging new intersections from Opemiska, expanding size of starter pit
"These results are all within the conceptual open pit 2021 mineral resource estimate (MRE), specifically from the Saddle Zone, Vein #2 and from the south side of Springer," said Charles Beaudry, director and vice-president of exploration, for QC Copper.
"The broad intersections continue to confirm wide mineralized intervals surrounding historical stopes, thus confirming our thesis that significant mineralization, currently defined as waste, exists inside the pit," he added.
"We are confident that with this and further drilling, we will be able to significantly reduce the stripping ratio defined by our conceptual pit."
Beaudry also noted that in addition, these results indicated that the Saddle Zone is larger than the company had estimated in its mineral resource estimate and may extend southward to Vein #2.
Last year's NI 43 101 in-pit current resource has 81.7 million tonnes at 0.88% copper-equivalent in the higher confidence measured and indicated category and 21.4 million tonnes at 0.73% copper-equivalent in inferred.
Updating on the current drill program, QC Copper also said that a total of 24,733m of drilling over 96 holes have been completed on the property since last year's resource estimate.
QC Copper and Gold is focused on acquiring and developing copper projects in the Chibougamau region that share synergies with its past-producing Opemiska copper mine complex.