The pit has limited measured and indicated resources of 87.3 million tonnes grading 0.77% copper (0.93% copper equivalent) containing 1.49 billion pounds (762,000 ounces) of copper. gold and 762,000 oz. silver. The pit has restricted inferred resources of 9.8 million tonnes grading 0.48% copper (0.59% copper equivalent), containing 104 million pounds of copper, 55,000 ounces of copper. gold and 689,000 oz. silver. A limit of 0.15% copper equivalent was used in this estimate.
Opemiska also has off-site resources at a 0.8% copper equivalent cut-off grade. Measured and indicated grade is 10.1 million tonnes grading 1.20% copper (1.37% copper equivalent) for 268 million pounds of copper and 83,000 ounces of copper. gold and 5.5 million ounces. silver. Inferred grade is 11 million tonnes grading 0.53% copper (0.54% copper equivalent) containing 127 million pounds (70,000 ounces) of copper. gold and 907,000 oz. silver.
“We are proud to offer our shareholders an MRE that represents the highest quality open pit copper deposit in Canada,” said Stephen Stewart, CEO and Chairman of QC Copper. “This MRE describes having such a large, high-quality asset with excellent accessibility. and infrastructure of great value.
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“In addition, QC Copper and Gold’s Opemiska is located in the heart of northwestern Quebec, a thriving mining region, and we see Opemiska as a pillar in revitalizing the renowned Chapais-Chibougamau copper-gold mining region in Eastern Canada.”
The project has a starting pit capacity of 19.1 million tonnes at 1.1% copper equivalent, with confirmed potential for pit expansion and underground mining. Potential satellite pits in the east as well as the former Cooke and Robitaille mines have been discovered. In addition, preliminary metallurgical tests have confirmed good recycling characteristics.
The Opemiska project includes the former Springer and Perry copper-gold mines, which were operated by Falconbridge from 1953 to 1991. In total they produced 23 million tonnes of ore grading 2.4% copper and 0.3 g/t gold.
The asset was acquired in 2021 by QC Copper, which is seeking to find a resource containing at least 2 billion pounds of copper equivalent.
