Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

QC Copper and Gold set to acquire a 50% stake in the Roger Gold-Copper project in Quebec

% of readers think this story is Fact. Add your two cents.


QC Copper and Gold Inc (CVE:QCCU) (OTCMKTS:QCCUF) said it has signed an agreement to buy a 50% ownership interest in the Roger Gold-Copper project located in Quebec’s Chibougamau District from Pasofino Gold Ltd (CVE:VEIN) (OTCMKTS:EFRGF) (FRA:N07).   

The company will pay a total consideration of C$2 million for the property, consisting of $1 million in cash and 5.5 million QC Copper shares.   

“This is a strategic asset acquisition that fits into our vision for a consolidated Chibougamau District. The Roger is a sizable NI 43-101 pit constrained gold-copper resource with plenty of expansion potential and is proximate to our flagship Opemiska project,” QC Copper and Gold CEO Stephen Stewart said in a statement.  

READ: QC Copper and Gold updates on Opemiska drill progress and names new independent director

“The Opemiska and its ongoing drill program remains our core focus, however, we felt compelled to act when Roger opportunity presented itself,” Stewart added.

“When shareholders evaluate this pit constrained resource relative to the consideration paid, I believe they will see the value of this accretive acquisition.”

QC Copper and Gold noted that 58,000 metres (m) of diamond drilling has been completed on the property, as well as more than 1,000m of chip sampling.

An updated mineral resource estimate on the deposit was completed in August 2018, which showed an Indicated resource of 333,000 gold-equivalent ounces grading 0.85 grams per tonne (g/t) gold, 0.80 g/t silver, and 0.06% copper, along with 202,000 ounces of gold equivalent in the Inferred category grading 0.75 g/t gold, 1.18 g/t silver, and 0.11% copper.

The company added that the gold and copper distribution is low-grade but forms wide intersections that could be amenable to open-pit exploitation.  

The remaining 50% interest in the Roger project is owned by SOQUEM, a subsidiary of Investissement Québec.

QC Copper and Gold’s flagship asset is the Opemiska Copper Mining Complex project located near the town of Chapais, Quebec within the prolific Chibougamau region. The project consists of two past-producing mines, which were previously owned and operated by mining giant Falconbridge, then bought by Swiss firm Xstrata.

Contact Sean at [email protected]

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/945670/qc-copper-and-gold-set-to-acquire-a-50-stake-in-the-roger-gold-copper-project-in-quebec-945670.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.