Toronto, Ontario--(Newsfile Corp. - January 29, 2025) - XXIX Metal Corp. (TSXV: XXIX) (OTCQB: QCCUF) (FSE: 5LW0) ("XXIX" or the "Company") is pleased to present a review on an ambitious 2025 focused on advancing its projects and strengthening its position as one of Eastern Canada's largest copper explorers and developers.
"The broader market continues to undervalue resource and pre-development stage projects like Opemiska and Thierry, a reflection of the cyclical nature of our industry. At XXIX, we remain steadfast in our strategy to focus on overlooked and undervalued assets that we see as critical to the future of copper and metals supply chains. This philosophy, rooted in the Ore Group's values, emphasizes identifying opportunities others miss, building value with patience, managing capital conservatively, and acting decisively when the time is right. Looking ahead to 2025, we are excited to share our operational goals, including the methodical development of our two 100%-owned copper assets, Opemiska and Thierry," said Stephen Stewart, CEO of XXIX Corp.
Opemiska Project in Quebec Saddle Zone: XXIX is set to launch a 3,400-meter drill program in the Saddle Zone at the Opemiska Copper Project in Quebec. The program is currently being permitted and is expected to commence in February. Results from this drilling will be incorporated into the forthcoming Preliminary Economic Assessment (PEA).
Scoping Study and PEA: XXIX has effectively completed a comprehensive scoping study in 2024. This study optimized the mine plan and provided critical insights into maximizing shareholder value while fostering sustainable development for the surrounding communities. The insights gained will inform the PEA, which will detail a development plan aligning with both economic and community-focused goals.
Cooke and Robitaille Zones: XXIX has begun the reinterpretation of historical Falconbridge drilling and mine data, integrating them with modern geological data for Cooke and Robitaille. The Cooke Zone, historically a gold mine with a copper credit, has shown potential for a second mineralization horizon, which could enhance project economics. Permitting and design for drilling at Cooke are expected in Q2.
Opemiska has the potential to serve as the anchor asset in the revitalized district, offering long-term benefits for local communities, including Chapais, Chibougamau and the local First Nations.
Thierry Project in Ontario K1 Deposit: XXIX has completed the revalidation and reinterpretation of geological data for the K1 deposit. A rigorous process included integrating historical drilling and incorporating 15 previously unmodelled holes, including seven drilled in 2024. Additionally, a core sampling program revealed over 820 meters of unsampled historical core with disseminated mineralization. XXIX has identified grade increases up to 77% in previously reported intersections when incorporating these zones.
Key updates on K1:
Mineralization spans up to 230 meters in width, begins at surface, and extends 1.2 kilometres along strike, to 400 meters depth, and remains open to depth.
The zone dips at 50-55°, making it favorable for open-pit mining with a low strip ratio.
A just completed core sampling program has reinforced XXIX's view that the previously interpreted multiple zones can be interpreted as a single, continuous zone. The presence of low-grade mineralization in this area highlights its potential for economic viability and scalability in any future open-pit development. XXIX is highly optimistic about the K1 zone and its ability to expand and advance this resource further.
100km of induced polarization (IP) surveys is being planned and permitted.
A drill program is being planned and permitted with the goal of delivering an updated Mineral Resource Estimation.
K2 Deposit: Revalidation of the K2 deposit, historically reported as 23.7 Mt at 1.64% Cu, is ongoing. XXIX will provide updates on its geological model and subsequent drill programs during 2025.
Connecting K1 and K2: XXIX aims to deepen its understanding of Thierry's geology and deposition model. Locally, the K-1 and K-2 deposits are fairly well understood, though there is significant room for growth. What excites XXIX is the opportunity to verify the untested 3km gap between these two zones, where geophysical signatures clearly suggest the continuity of the favorable horizon. XXIX will also initiate studies to determine what may influence grade differentiation between the two deposits.
Thierry represents a highly mineralized and significant system with substantial exploration upside and untapped potential waiting to be uncovered.
Roger Gold Project XXIX is updating its work plan and budget while assessing its strategic fit within our operational plans. While it remains uncertain whether Roger offers operational synergies with Opemiska, its significance is clear with a resource of 330,000 ounces of indicated equivalent gold ounces (10.9MT @ 0.85 g/t Au and 0.80 g/t Au) and an additional 202,000 inferred equivalent gold ounces (6.6MT @ 0.75 g/t,1.18 g/t Ag and 0.11% Cu). Roger is positioned in the eastern node of the Chibougamau district, which is best characterized as a gold camp, whereas the western node is more distinctly a copper camp. XXIX is evaluating its options and plans for the Roger Project and will provide a detailed update soon.
Community Engagement XXIX remains committed to fostering and investing in strong relationships with local stakeholders. In Quebec, the Company is actively engaging with the town of Chapais within the District of Chibougamau and First Nations communities to ensure sustainable development with meaningful economic and employment opportunities. In Ontario, the Company operates under an exploration agreement dating back to 2008, and both XXIX and local First Nations are working to modernize the agreement, continuing its focus on community-centric operations.
Qualified Person Statement The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo and géo., Director of XXIX Metals Corp, a Qualified Person, as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About XXIX Metal Corp. XXIX is advancing its Opemiska and Thierry Copper projects, two significant Canadian copper assets. The Opemiska Project, Canada's highest-grade copper resource, spans 13,000 hectares in Quebec's Chapais-Chibougamau region, with strong infrastructure and nearby access to the Horne Smelter. A January 2024 resource update reported a 16% increase in contained Copper Equivalent (CuEq) and a 10% grade boost, including 87.3 million tonnes at 0.93% CuEq (Measured & Indicated) and additional Out of Pit resources.
The Thierry Project hosts two past-producing ore bodies, one of which was mined underground for six years—producing 5.8Mt @ 1.13% Cu, 0.14% Ni between 1976 – 1982 by UMEX Inc. Historically, copper concentrate was shipped to the Horne Smelter in Rouyn-Noranda, QC. Significant infrastructure is already in place, with the Thierry property being accessible via all-season road, an airport within 5km, a provincial power grid within 8km, and nearby rail. With these two high-potential projects, the Company has solidified its position as a key player in the Canadian copper sector, and has established itself as one of Eastern Canada's largest copper developer.
For further information, please contact: Stephen Stewart, Chairman Phone: 416.644.1567 Email: info@oregroup.ca
Forward-Looking Statements This news release contains forward-looking statements. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions are intended to identify forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, estimated or expected. Specific forward-looking statements in this news release include, but are not limited to, statements pertaining to the commencement of trading of the Common Shares on the TSXV under the new name and new stock ticker. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors set forth above and elsewhere in this news release. The forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement. These statements are given only as of the date of this news release. The Company does not assume any obligation to update these forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law.
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.
