XXIX Defines New Area of Economic Potential at Saddle Zone
Highlights:
XXIX defines robust cylindrical body of mineralization extending over 80 metres at Saddle zone.
Notable intersections including 1.21% CuEq over 9.9 metres; 0.62% CuEq over 12.0 metres.
Will deepen the existing pit shell in the Saddle Zone area.
Mineralization is continuous across 140 metres of strike length and reaching up to 190 metres in vertical depth.
Updated Mineral Resource Estimate for Opemiska is expected to be published soon.
Toronto, Ontario--(Newsfile Corp. - May 22, 2025) - XXIX Metal Corp. (TSXV: XXIX) (OTCQB: QCCUF) (FSE: 5LW0) ("XXIX" or the "Company") is pleased to announce that it has identified a new area of resource potential within the Saddle Zone at its Opemiska Copper Project, located in Quebec. The latest drill program has outlined the newly interpreted Saddle Zone, which spans approximately 140 metres in strike length and up to 190 metres in vertical extent.
Saddle Mineralization
The Saddle Zone's primary area of interest represents a robust cylindrical body of mineralization extending over 80 metres at the intersection of the two northwest-trending late-stage structures. This zone has the potential to deepen the existing inferred pit shell in the Saddle Zone area. This new zone will be evaluated for inclusion in XXIX's forthcoming updated resource estimate.
Geometry and Continuity
Drilling confirms the continuity of mineralization across 140 metres of strike length and up to 190 metres in vertical depth. Grades and thicknesses are strongest at the western end of the zone and increase at depth
Structural Interpretation
The Saddle Zone is interpreted to be displaced and duplicated by two northwest-trending late-stage faults (Saddle 1 and Saddle 2 faults), creating two parallel mineralized zones on either side of the faults.
"The presence of this large, well-mineralized cylindrical body offers the potential for near-term resource growth and a broader, deeper pit shell in the Saddle zone. This is exactly the type of upside we were hoping for as we continue to define the Saddle Zone," said Guy Le Bel, CEO of XXIX Metal Corp.
Table 1 - Highlighted Drill Intercepts in the Saddle Zone
(Selected results showing grade, width, and depth distribution)
Hole
From
Length (m)
CuEq %
Cu %
Au g/t
OPM-25-283
120.8
9.9
1.21
1.18
0.046
OPM-25-285
165.0
12.0
0.62
0.60
0.034
OPM-25-286
147.0
3.5
0.36
0.35
0.023
OPM-25-287
186.0
25.5
0.36
0.35
0.02
OPM-25-288
172.5
1.5
0.21
0.20
0.021
OPM-25-290
60.0
9.0
0.22
0.20
0.035
OPM-25-291
46.5
3.0
0.39
0.37
0.039
OPM-25-292
31.5
3.0
0.44
0.35
0.161
Table 2 - Supplementary Intercepts in Saddle 1 and Saddle 2 Fault Zones
(Confirms structural complexity and supports new geological model)
Hole
From
Length (m)
CuEq %
Cu %
Au g/t
OPM-25-284
108.0
21.0
0.72
0.66
0.1
Including
108.0
7.0
0.53
0.43
0.166
and
124.1
4.9
2.23
2.13
0.174
OPM-25-293
19.5
45.0
1.17
0.99
0.308
and
70.5
7.5
0.49
0.47
0.036
OPM-25-294
23.7
57.3
0.95
0.87
0.139
Including
23.7
30.3
1.93
1.64
0.498
and
69.0
12.0
0.50
0.41
0.147
OPM-25-295
57.9
0.5
0.70
0.53
0.301
Holes OPM-25-293 and OPM-25-294 (reported in NR date of April 10) display two distinct mineralized intervals, consistent with XXIX's structural interpretation of the fault-related displacement model. These twin zones significantly increase overall mineralized widths and suggest further potential at depth. Hole OPM-25-295, located north of the Saddle Zone, intercepted anomalous gold values-an indicator often associated with the late northwest faults.
Next Steps
XXIX will continue to refine the geological model of the Saddle Zone in preparation for Opemiska's resource update. Further drilling is planned to confirm the down-dip continuity and lateral extent of the Saddle zone and its potential contribution to Opemiska's economics.
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 21,333 hectares in Quebec's Chapais-Chibougamau region, with strong infrastructure and nearby access to the Horne Smelter. The Thierry Project hosts two past-producing open pits that transitioned to underground mining-producing 5.8Mt @ 1.13% Cu, 0.14% Ni between 1976 - 1982 by UMEX Inc. (see QC Copper news release of 1 October, 2024; see note below regarding historical mineral resources estimates). Infrastructure at Thierry include 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 Denis McNichols, P.Geo and géo., Vice President Exploration for XXIX Metal Corp., a Qualified Person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For further information, please contact:
Guy Le Bel, Chief Executive OfficerPhone: 514.654.8550 Email: glebel@oregroup.ca
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 timing and anticipated receipt of required regulatory (including TSXV) and other third-party approvals for the Transaction and the Option Transfer; the ability of XXIX to satisfy the other conditions to, and to complete, the Transaction; and the anticipated timing of 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 share of the Company; TSXV acceptance and market acceptance of the Transaction and the Option Transfer; 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/253019
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