QC Copper Acquires 100% Ownership of Roger Gold Project in Chibougamau, Quebec
QC Copper and Gold Inc. (TSXV: QCCU) (OTCQB: QCCUF) has signed a definitive agreement to acquire the remaining 50% ownership interest in the Roger Gold-Copper Project from SOQUEM, a subsidiary of Investissement Québec. The Roger Project, located in the Chibougamau mining district of Quebec, spans 987 hectares and is easily accessible via all-season road with access to power.
The project features an NI 43-101 compliant mineral resource estimate completed in August 2018, showing 333,000 ounces of gold-equivalent in the Indicated category and 202,000 ounces in the Inferred category. The acquisition provides QC Copper with optionality to incorporate Roger into future development plans of Opemiska or develop it as a standalone project.
To maintain and exercise the option, QC Copper will make an initial cash payment of $75,000 and subsequent share payments totaling $1.6 million over four years. The transaction is subject to TSX Venture Exchange acceptance and expected to close by the end of October, 2025.
QC Copper and Gold Inc. (TSXV: QCCU) (OTCQB: QCCUF) ha firmato un accordo definitivo per acquisire il restante 50% di proprietà del Roger Gold-Copper Project da SOQUEM, una filiale di Investissement Québec. Il progetto Roger, situato nel distretto minerario di Chibougamau in Quebec, si estende su 987 ettari ed è facilmente accessibile attraverso una strada percorribile tutto l'anno con accesso all'energia elettrica.
Il progetto presenta una stima delle risorse minerarie conforme al NI 43-101 completata ad agosto 2018, mostrando 333.000 once di equivalente oro nella categoria Indicated e 202.000 once nella categoria Inferred. L'acquisizione fornisce a QC Copper la possibilità di integrare Roger nei futuri piani di sviluppo di Opemiska o di svilupparlo come progetto autonomo.
Per mantenere e esercitare l'opzione, QC Copper effettuerà un pagamento iniziale in contante di $ 75.000 e successivi pagamenti in azioni per un totale di $ 1,6 milioni nel corso di quattro anni. La transazione è soggetta all'accettazione della TSX Venture Exchange e si prevede che si chiuda entro la fine di ottobre 2025.
QC Copper and Gold Inc. (TSXV: QCCU) (OTCQB: QCCUF) ha firmado un acuerdo definitivo para adquirir el 50% restante de participación en el Roger Gold-Copper Project de SOQUEM, una subsidiaria de Investissement Québec. El proyecto Roger, ubicado en el distrito minero de Chibougamau en Quebec, abarca 987 hectáreas y es fácilmente accesible por una carretera de temporada completa con acceso a energía.
El proyecto cuenta con una estimación de recursos minerales conforme al NI 43-101 completada en agosto de 2018, que muestra 333,000 onzas de equivalente de oro en la categoría Indicada y 202,000 onzas en la categoría Inferida. La adquisición proporciona a QC Copper la opción de incorporar Roger en los planes futuros de desarrollo de Opemiska o desarrollarlo como un proyecto independiente.
Para mantener y ejercer la opción, QC Copper realizará un pago inicial en efectivo de $75,000 y pagos en acciones subsecuentes que totalizan $1.6 millones durante cuatro años. La transacción está sujeta a la aceptación de la TSX Venture Exchange y se espera que se cierre a finales de octubre de 2025.
QC Copper and Gold Inc. (TSXV: QCCU) (OTCQB: QCCUF)는 Investissement Québec의 자회사인 SOQUEM으로부터 Roger Gold-Copper Project의 나머지 50% 소유권을 인수하는 확정 계약을 체결했습니다. 퀘벡의 치부가무 지역에 위치한 로저 프로젝트는 987헥타르에 걸쳐 있으며, 전천후 도로를 통해 접근 가능하고 전기에 접근할 수 있습니다.
이 프로젝트는 2018년 8월에 완료된 NI 43-101 준수 광물 자원 추정치를 특징으로 하며, 지표 범주에서는 333,000 온스, 추정 범주에서는 202,000 온스를 보여줍니다. 이번 인수는 QC Copper가 Roger를 Opemiska의 미래 개발 계획에 통합하거나 독립 프로젝트로 개발할 선택권을 제공합니다.
옵션을 유지하고 행사하기 위해 QC Copper는 $75,000의 초기 현금 지급과 4년 동안 총 $1.6백만의 후속 주식 지급을 진행할 것입니다. 이번 거래는 TSX 벤처 거래소의 수락을 조건으로 하며, 2025년 10월 말까지 마무리될 것으로 예상됩니다.
QC Copper and Gold Inc. (TSXV: QCCU) (OTCQB: QCCUF) a signé un accord définitif pour acquérir les 50% restants de participation dans le Roger Gold-Copper Project auprès de SOQUEM, une filiale d'Investissement Québec. Le projet Roger, situé dans le district minier de Chibougamau au Québec, s'étend sur 987 hectares et est facilement accessible par une route à circulation permanente avec un accès à l'électricité.
Le projet dispose d'une estimation des ressources minérales conforme au NI 43-101 terminée en août 2018, montrant 333 000 onces d'équivalent-or dans la catégorie Indiquée et 202 000 onces dans la catégorie Inférée. L'acquisition offre à QC Copper la possibilité d'incorporer Roger dans les futurs plans de développement d'Opemiska ou de le développer en tant que projet autonome.
Pour maintenir et exercer l'option, QC Copper effectuera un paiement initial en espèces de 75 000 $ et des paiements ultérieurs en actions totalisant 1,6 million $ sur quatre ans. La transaction est soumise à l'acceptation de la TSX Venture Exchange et devrait être finalisée d'ici la fin octobre 2025.
QC Copper and Gold Inc. (TSXV: QCCU) (OTCQB: QCCUF) hat einen endgültigen Vertrag unterzeichnet, um die verbleibenden 50% der Eigentumsanteile am Roger Gold-Copper Project von SOQUEM, einer Tochtergesellschaft von Investissement Québec, zu erwerben. Das Roger-Projekt, das im Bergbaubezirk Chibougamau in Quebec liegt, erstreckt sich über 987 Hektar und ist über eine ganzjährig befahrbare Straße mit Zugang zu Strom leicht erreichbar.
Das Projekt verfügt über eine NI 43-101-konforme Schätzung der Mineralressourcen, die im August 2018 abgeschlossen wurde und 333.000 Unzen Goldäquivalent in der Indicated-Kategorie und 202.000 Unzen in der Inferred-Kategorie zeigt. Die Akquisition bietet QC Copper die Möglichkeit, Roger in zukünftige Entwicklungspläne von Opemiska zu integrieren oder es als eigenständiges Projekt zu entwickeln.
Um die Option aufrechtzuerhalten und auszuüben, wird QC Copper eine anfängliche Barzahlung von 75.000 $ leisten und in den folgenden vier Jahren insgesamt 1,6 Millionen $ in Aktien zahlen. Die Transaktion steht unter dem Vorbehalt der Genehmigung durch die TSX Venture Exchange und wird voraussichtlich bis Ende Oktober 2025 abgeschlossen sein.
- Acquisition of remaining 50% ownership in Roger Gold-Copper Project
- NI 43-101 resource estimate of 535,000 ounces gold equivalent @ 0.95 g/t AuEq
- Strategic location near major deposits and past-producing mines
- Project has undergone multiple drill campaigns totaling 58,000 metres
- Optionality for standalone development or integration with Opemiska project
- Significant share dilution due to $1.6 million in share payments over four years
- 2.0% net smelter return royalty granted to the vendor
- QC Copper to acquire the remaining
50% ownership interest from SOQUEM - Roger has a 43-101 resource estimate showing 535,000 ounces gold equivalent @ 0.95 g/t AuEq.
Toronto, Ontario--(Newsfile Corp. - October 21, 2024) - QC Copper and Gold Inc. (TSXV: QCCU) (OTCQB: QCCUF) ("QC Copper" or the "Company") is pleased to announce that it has signed an arm's length definitive agreement to acquire the remaining
Link to QC Copper and Gold Webinar - Strategic Acquisition of Roger Project
Roger Project Highlights
The Roger Project spans 987-hectares, and is located 5km from the historic mining center of Chibougamau, Quebec. It is easily accessible via all-season road, and has access to power. The Project features an existing NI 43-101 compliant mineral resource estimate, completed in August 2018. In August 2023, the Company released favourable and encouraging metallurgical results from the Project based on metallurgical compatibility with Opemiska.
Roger Project Resources:
| Classification | Contained AuEq (oz) | AuEq (g/t) | AuEq Cut-off (g/t) | Tonnes (kt) | Au (g/t) | Contained Au (oz) |
| Indicated | 333,000 | 0.95 | 0.45 | 10,900 | 0.85 | 297,000 |
| Indicated | 202,000 | 0.96 | 0.45 | 6,569 | 0.75 | 159,000 |
Table 1) 2018 Roger mineral resource estimate.
This resource estimate is constrained in a conceptual open pit shell. The 2018 updated mineral resource estimate was prepared by GéoPointCom of Val-d'Or, Quebec. At a cut-off grade of 0.45 g/t gold-equivalent, the Indicated Resource is estimated at 10,900,000 metric tonnes at a grade of 0.85 g/t of gold, 0.80 g/t of silver and
Strategic Location
Roger neighbours major deposits, including Northern Superior's (NSUP.V) Croteau Est deposit immediately to the north, which hosts a 43-101 compliant inferred resource of 640,000 ounces of gold. Roger is also contiguous with Dore Copper Mining Corp.(DCMD.V) (Cygnus Metals' (CY5.AX)) Gwillim project, which is contiguous to the west.
Chibougamau has a rich mining history, with numerous past producing mines located within a 15km radius including the Company's Opemiska Project and Cygnus Metals' Cedar Bay, Devlin and Corner Bay projects. The Chapais-Chibougamau region has historically produced 1.6 million tonnes of copper and ~6 million ounces of gold between 1953 - 2008.
Exploration and Upside
The project is an advanced-stage exploration project and has gone through multiple drill campaigns totaling 58,000 metres. Additionally, underground exploration in 1988 included 1,177 metres of development, 1,433 metres of underground drilling and over 1,000 metres of chip sampling. The Roger deposit is interpreted as a reduced-type intrusion-related porphyry gold-copper deposit that shows strong structural control. Mineralization occurs in the porphyry intrusion and in mafic volcanics to the north. While +500,000 gold equivalent ounces have already been delineated (see Table 1) at Roger, the Project continues to provide significant upside given the deposit is open along strike, to the east and west as well as depth.
Development Optionality
Owning
Terms of the Agreement
To maintain and exercise the option, signed Oct 18, 2025, for the remaining
- Initial cash payment of
$75,000 on the Effective Date. - Subsequent Share Payments:
1)
2)
3)
4)
The number of Shares to be issued to the vendor will be calculated on the basis of the higher of: (i) an issue price per Share equal to the volume-weighted average price for the 10 days preceding the issue date, subject to the maximum discount permitted under the policies of the Exchange or; (ii)
At closing, the vendor will also receive a
QP Statement
The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo and géo., Director and Vice President Exploration for QC Copper & Gold, a Qualified Person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
About QC Copper & Gold Inc.
QC Copper & Gold Inc. is advancing its flagship Opémiska copper mining complex in Quebec, a former high-grade copper producer. The Company's most recent resource estimate outlined a substantial 2.1 billion pounds of copper equivalent in measured and indicated resources, solidifying QC Copper's position as a key player in the Canadian copper sector.
For further information, please contact:
Stephen Stewart, Chief Executive Officer
Phone: 416.644.1567
Email: sstewart@qccopper.com
Forward Looking Statements
This news release contains certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. In particular, this news release contains forward-looking information in relation to: the anticipated benefits of the Transaction to QC Copper and its shareholders; the timing and anticipated receipt of required regulatory (including TSXV) and shareholder approvals for the Transaction; the ability of QC Copper to satisfy the other conditions to, and to complete, the Transaction; and the anticipated timing of the Meeting and the closing of the Transaction. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to: the current share price of the QC Copper Shares; TSXV acceptance and market acceptance of the Transaction; the Company's current and initial understanding and analysis of its projects; the Company's general and administrative costs remaining constant; market acceptance of the Company's business model, goals and approach; and the feasibility and reasonableness of conducting exploration on and developing any of the Company's projects. Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: there is no certainty that work programs will result in significant or successful exploration and development of the Company's properties; uncertainty as to the actual results of exploration and development or operational activities; uncertainty as to the availability and terms of future financing on acceptable terms; uncertainty as to timely availability of permits and other governmental approvals; the Company may not be able to comply with its ongoing obligations regarding its properties; the early stage development of the Company and its projects; general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities, junior market securities and mining exploration company securities; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation or income tax legislation, affecting the Company; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors which may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Neither the 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 news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227270
FAQ
What is the total resource estimate for the Roger Gold-Copper Project (QCCUF)?
How much is QC Copper and Gold (QCCUF) paying to acquire the remaining 50% of Roger?
When is the acquisition of the Roger Project by QC Copper (QCCUF) expected to close?
What exploration has been done on the Roger Gold-Copper Project acquired by QC Copper (QCCUF)?
