공시 • Jun 05
XXIX Metal Corp. Increases Opemiska's Copper Resource
XXIX Increases Opemiska's Copper Resource Highlights: Large, robust open pit resource optimized for high-quality PEA in the near-term. Opemiska is one of the highest-grade open pitable copper projects in Canada.it Constrained resource is now 1,438 Mlbs CuEq (Indicated resource of 62,706 kt @ 1.04% CuEq) + 709 Mlbs CuEq (Inferred resource of 78,485 kt @ 0.26% CuEq), and within a reduced surface footprint. What was previously considered waste is now resource. New gold potential on Cooke zone, which is a past-producing gold mine with its crown pillar still intact, representing significant gold upside to the larger Opemiska copper project. Notably, the inclusion of lower-grade stockwork mineralization has significantly enhanced the overall resource profile, substantially reducing the anticipated strip ratio, and broadened the development pathways for Opemiska. A three-hole scout drill program on the Saddle Zone intersected 5.3% copper and 1.20 g/t gold over 11 metres (core length) from a depth of 81 metres. Encouraged by these strong results, XXIX followed up with a 15-hole drill program, outlining a 140metres long structure, to a depth of 190 metres. This updated MRE model includes a higher grade, near surface volume that will aim to optimize development scenarios as it allows for a potentially short payback period or a staged development scenario, which could result in a marked uplift in project economics. The PEA will be designed to maximize the economic potential of high-grade tonnes as early as possible in a proposed mine plan to enhance project IRR. This brownfield setting offers a well-understanding geologic model, a substantial historical database, and a significantly de-risked exploration and development profile. Additional infrastructure advantages include proximity to rail, airport, and local service centers. The availability of a local workforce and accommodations further reduces the need for costly remote infrastructure, such as fly-in camps. This could raise social acceptance issues and may require trade-off studies or additional capital for development solutions. Historical Assay Validation: Drill core from mining operations between 1953 and 1991 no longer exists, meaning historical mine assays cannot be directly verified. A June 2025 resource update reported a pit constrained resource of 62.7 million tonnes at 1.04% CuEQ (Indicated) and 78.4 million tonnes at 0.41% CuEq (Inferred). When old open or backfilled stopes were expected to be intersected in drilling the holes, they were started in NQ and telescoped to BQ after the stope, or started in HQ and reduced to NQ and then BQ, when a second stope was encountered to ensure completion of the drill hole. The historical mine drill holes were surveyed on surface and underground at the time of drilling by mine personnel using conventional surveying methods. The pit optimization to develop the resource-constraining pit shells was done using Deswik Pseudoflow 2024.2. The drill hole database includes recent drilling (2002 to 2025) of 9,359 metres in 387 drill holes (Ex-In, PowerOre, QC Copper & Gold, XXIX) and also incorporates historical drill holes (1930 to 1990) of 1,451,470 metres in 21,531 drill holes (Opemiska Copper Mines, Falconbridge, Minnova). Surrounding barren lithologies were assigned the average specific gravity value from all measured samples available. Grade model resource estimation was calculated from drill hole data using an Ordinary Kriging interpolation method in a sub-blocked model using blocks measuring 5 m x 5 m in size and sub-blocks down to 0.625m x 0.625m. Both ordinary kriging (OK) and inverse square distance (ID2) interpolation methods were tested, resulting in no material difference in the Mineral Resource Estimates. The Indicated and Inferred Mineral Resource categories are constrained to areas where drill spacing is less than 50m and show reasonable geological and show reasonable geological and show reasonably expected, that the majority of Inferred Mineral Resource continuity. It is reasonably expected, but not guaranteed, but not guaranteed, that the majority of In Preferred Mineral Resources could be reasonably expected, but not guaranteed. It is reasonably expected, that the majority the majority of Inferred Mineral Resources could be expected, but not guaranteed, the majority of Inferred Mineral resource continuity. It is reasonably expected. It is reasonably expected, and show reasonable geological and show reasonable geological and show reasonable geological and demonstrate reasonable geological and Inferred Mineral Resources could be considered geological and show reasonable geological and support that the majority of Inferred mineralization.