Copper Project Returns 'Very Good' Drill Results
Source: Source: Adam Schatzker
November 15, 2022 (Investorideas.com Newswire) This data set "highlights the potential of the southern starter pit and its ability to provide higher grade material for longer in the early years of the mine," noted a Research Capital Corp. report.
QC Copper and Gold Inc. (QCCU:TSX.V; QCCUF:OTCQB) newly released drill results from its Opemiska project are noteworthy the holes placed in the deposit's southern part, the Southern Springer pit area, reported Research Capital Corp. analyst Adam Schatzker in a November 7 research note.
Opemiska is in Quebec's renowned Chapais-Chibougamau mining district.
"Overall, we think that this set of drill results is one of the best produced by QC Copper and Gold," Schatzker commented.
Southern Springer is within the starter pit shell defined in the mineral resource estimate prepared last year.
"This area is defined by shallow, higher grade mineralization, which should help improve the net present value of the project by providing higher grades in the early years of production," Schatzker explained.
Three of the 11 holes reported were drilled in Southern Springer, OPM-22-223, OPM-22-226, and OPM-22-227. Results, according to Schatzker, were "very good."
Specifically, these holes returned shallow intercepts, which start close to surface, and deeper intercepts, "which we think will likely help pull the starter open pit deeper," wrote Schatzker.
Three of these deeper intercepts had a copper equivalent (Cu eq) grade exceeding 4.5%.
"All of these factors together appear to highlight the potential of the Southern Springer pit area, and we expect this will be reflected in the next mineral resource estimate," Schatzker added.
As for the remainder of the 11 holes, they were drilled in the deposit's northern part. Of those, hole OPM-22-231 is the highlight. Placed in the Mill zone, it shows 43.5 meters of 1.79% Cu eq starting 282 meters downhole.
Research Capital has a Speculative Buy rating and a CA$0.35 per share price target on QC Copper and Gold, the current share price of which is about CA$0.17.
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Disclosures For Research Capital Corp., QC Copper and Gold Inc., November 7, 2022
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