Name of the Project
Opemiska copper project.

Location
Chapais-Chibougamau region, near Chapais, Quebec, Canada.

Project Owner/s
Copper project developer XXIX Metal Corp.

Project Description
XXIX is advancing the project as a 12 500 t/d openpit operation over a 17-year life-of-mine (LoM). Opemiska comprises four past-producing mines, two of which (Springer and Perry) underpin the current preliminary economic assessment (PEA). The current PEA is based on 44.3-million tonnes of inferred mineral resources, grading 0.32% copper, 0.18 g/t gold and 0.77 g/t silver.

The project spans 21 333 ha and benefits from strong existing infrastructure, including access to the Horne smelter. Openpit methods will be used. Ore will be processed through a conventional crushing and grinding circuit, followed by flotation to produce a copper concentrate, with gold and silver by-products.

Total payable copper across Opemiska over the LoM is estimated at 715-million pounds of copper, 409 000 oz of gold 2.08-million ounces of silver.

In addition, Cooke, a third past-producing mine located about 3 km east of the proposed pit, is being evaluated for gold resource upside, with drilling under way.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The PEA notes an after-tax net present value, at an 8% discount rate, of C$505-million and internal rate of return of 27.2% (base case). Payback is estimated at 2.3 years (base case).

Capital Expenditure
Initial capital expenditure of C$617-million (base case).

Planned Start/End Date
PEA outlines a 17-year mine life.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
Ausenco Engineering Canada (PEA); SRK Consulting (tailings management facility, hydrology and water balance); Evomine Consulting (mining methods, cost estimation and financial analysis); and Geodoz conseil (environmental and social considerations).

Contact Details for Project Information
XXIX Metal Corp, tel +1 416 644 1567 or email info@xxix.ca