Toronto, Ontario--(Newsfile Corp. - January 6, 2025) - XXIX Metal Corp. (TSXV: XXIX) (OTCQB: QCCUF) ("XXIX" or the "Company") is pleased to announce drill results from its focused 3-hole drill program on the Saddle Zone, including 11 metres of 5.3% Cu and 1.20 g/t Au from 81 metres (OPM-24-281).
The Saddle Zone lies between the past producing Springer and Perry mines and is located within Opemiska's current conceptual open pit outlined in the Mineral Resource Estimate from January 2024. This zone is relatively underexplored and serves as a transition zone between Springer and Perry, consisting of veins oriented differently from that of Springer and Perry. XXIX has been working to determine the orientation of the veining in this area and recently developed a new geological thesis, underlying the 3-hole scout drilling program completed in November.
The results from the drilling program support the thesis, indicating potential for follow-up exploration. As a result, the Company is planning a larger and more focused drill program to confirm the orientation of the veins in the Saddle Zone, which could lead to resource expansion in the Saddle Zone.
The Saddle Zone is particularly significant for mine planning and engineering, as it currently has less data and hosts comparatively lower levels of known mineralization. Successfully discovering and delineating new mineralization in this area could have a material impact on Opemiska's future engineering and economic studies.
Results from this program indicate the presence of a structurally controlled, mineralized envelope entrained into a north-west trending fault. The new interpretation of the mineralization represents significant upside to Opemiska's current resource model by adding scale and converting previously interpreted waste into ore. Additionally, previous drilling on the Saddle Zone shows mineralization outside of the known vein at the Saddle Zone. Future drilling at the Saddle Zone will assist in interpreting the mineralization in and outside of the vein, ultimately creating additional mineralized envelopes that can positively impact future economics at the Opemiska copper project.
Summary of reported composite intersections: Table 1
Hole ID
UTM Coordinates (East/North)
From (m)
To (m)
Interval (m)
CuEq1 (%)
Cu (%)
Au (g/t)
OPM-24-280
510244 / 5515285
19.5
30.0
10.5
0.38
0.35
0.05
OPM-24-280
510244 / 5515285
72
82.5
10.5
0.24
0.22
0.028
OPM-24-280
510244 / 5515285
100.5
102.9
2.4
0.72
0.66
0.093
OPM-24-281
510233 / 5515213
81
92
11
5.99
5.29
1.204
OPM-24-281
510233 / 5515213
138
145.5
7.5
0.60
0.56
0.058
OPM-24-282
510308 / 5515248
75
78
3
0.43
0.40
0.046
OPM-24-282
510308 / 5515248
96
99.6
3.6
0.45
0.41
0.06
OPM-24-282
510308 / 5515248
129
135
6
0.45
0.39
0.11
OPM-24-282
510308 / 5515248
177
183
6
0.44
0.42
0.04
1 Copper Equivalent (CuEq) shown in Tables for drill intersections are calculated on a basis of US$ 4.00/lb for Cu and US$ 2,000/oz for Au, with 91% metallurgical recovery assumed for Cu and 72% metallurgical recovery assumed for Au. The formula is: CuEq. = Cu % + (Au grade in g/t x (Au recovery / Cu recovery) x [Au price ÷ 31] / [Cu price x 2200]). *True widths on the Saddle Zone are not yet known.
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.
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 XXIX Metal, a Qualified Person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects." For the exploration undertaken by XXIX Metal, all assay batches are accompanied by rigorous Quality Assurance procedures, including the insertion of standards and blanks and verification assays in a secondary laboratory. All the core received from the drill is split in half, bagged and sent to ALS-Global facilities in Val d'Or, Quebec for sample preparation and then the pulps are shipped to AlS-Global's Vancouver laboratory or some other location in the world for analysis using ALS-Global's standardized ISO-compliant methods, all of which are listed in the laboratory certificates provided with the assay results. The remaining half core along with the rejects and the pulps returned from the laboratory are securely stored at QC Copper's facilities in Chapais, Quebec. Quality Control results, including the laboratory's control samples, are evaluated immediately on reception of batch results and corrections are implemented immediately if necessary. All drill collars are surveyed and positioned in UTM coordinates. Collars are oriented using a gyroscopic north-finding system and downhole deviations surveys are done with a single-shot gyroscopic instrument at 30 to 50m intervals.
For further information, please contact:
Stephen Stewart, Chief Executive Officer 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.
