/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
TORONTO, Oct. 26, 2021 /CNW/ - QC Copper and Gold Inc.
("QC Copper" or the "Company") (TSXV: QCCU) is
pleased to announce that it has entered into an agreement with an
arm's length private company, 9219-8845 Quebec Inc. (operating as
Canadian Mining House) (the "Vendor"), to acquire 100%
ownership of 38 claims over 2,112 hectares of highly prospective
ground that connects two land parcels of the Opemiska Copper
Project (the "Opemiska Expansion"). The Opemiska Copper
Project will now be collectively 15,518 hectares comprising the
Springer, Perry, Robitaille and Cooke mines and 13 kilometres of
the Gwillim Fault.
The western section of the Opemiska contains the resource
deposits and is where Falconbirge mined for 40 years. The eastern
section of the Opemiska is prospective for new discoveries and is
known to host VMS mineralization.
Click here to see a Map of New Opemiska
Property Expansion
Geology of Eastern Opemiska & New Opemiska Property
Expansion
The purchased claims form a continuous block that
bridges the gap between the Company's Cooke-Robitaille and Scott
properties and the area is primarily underlain by felsic and mafic
volcanic rocks of the Waconichi Formation. The Waconichi
Formation is host to VMS deposits elsewhere in the Chibougamau District and exhalative-style
mineralization is known on surface on claims of the
Cooke-Robitaille Property located nearby. Moreover the
northeast trending Scott Lake Fault, which parallels and is thought
to be related to the Gwillim Fault, crosses the center of the
purchased claims highlighting potential for copper-gold
mineralization similar to the historical mines in Chibougamau and Chapais.
Terms of Acquisition
QC Copper is acquiring 100%
ownership of the Opemiska Expansion and, upon closing, will issue
150,000 common shares of the Company and pay $10,000 in cash to the Vendor. The vendor will
retain a 2% Net Smelter Royalty, of which 50% can be repurchased by
the Company at any time for $500,000.
No finder's fee is payable in connection with the acquisition,
and the closing of the acquisition is subject to the approval of
the TSX Venture Exchange.
QP Statement
The technical information contained in
this news release (including information information contained in
links) has been reviewed and approved by Charles Beaudry, P.Geo and géo., Director and
Vice President Exploration for QC Copper and Gold Inc., who is a
Qualified Person as defined in "National Instrument 43-101,
Standards of Disclosure for Mineral Projects".
For information and updates on QC Copper and
Gold, please visit: www.qccopper.com
And please follow us on Twitter @qccoppergold
Forward Looking Statements
Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Certain information in this press release may contain
forward-looking statements. This information is based on current
expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. QC Copper and Gold Inc. assumes no obligation to update
the forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to QC Copper and Gold Inc. Additional information
identifying risks and uncertainties is contained in filings by QC
Copper and Gold Inc. with Canadian securities regulators, which
filings are available under QC Copper and Gold Inc. profile
at www.sedar.com.
SOURCE QC Copper & Gold Inc.