XXIX Metal options Pluto copper-gold property near Opemiska in Quebec
XXIX Metal Corp. (TSXV: XXIX) (OTCQB: QCCUF) has entered into an option agreement with Germanium Mining Corp. to acquire a 100% interest in the Pluto Property, an early-stage copper-gold-silver exploration property located in Quebec's Chapais-Chibougamau region, approximately 10 km from the company's Opemiska Project.
The Pluto Property covers approximately 556 hectares. Under the terms of the agreement, XXIX can acquire the full interest by paying C$50,000 in cash and C$50,000 in XXIX shares, and by completing C$250,000 in exploration expenditures on the property by December 31, 2028. The seller retains a 2.0% net smelter returns royalty, of which 1.0% may be repurchased by XXIX for C$750,000. The transaction is subject to TSX Venture Exchange acceptance and customary closing conditions.
The property carries approximately C$248,000 in excess exploration work credits from prior assessment work. XXIX noted that recent forestry road development has improved access to parts of the property.
The company said historical work indicates the presence of sulphide-bearing rocks and copper, gold, and silver indicators, but cautioned that this information has not yet been independently verified. XXIX stated it plans to compile historical data, conduct reconnaissance mapping and prospecting, rank targets, and determine whether trenching or drilling is warranted.
"Pluto is a low-cost addition to our regional exploration pipeline," said Guy Le Bel, CEO of XXIX. "Our approach will be disciplined and systematic: compile the historical data, verify the geology through field validation, and advance only those targets that warrant additional exploration and investment."
An initial field program is expected to begin during the summer or fall 2026 season, subject to closing of the transaction, regulatory acceptance, permitting, and contractor availability. XXIX stated that Pluto is not part of the Opemiska mineral resource or development plan.
