Questcorp Mining Inc. (CSE: QQQ) (OTCQB: QQCMF) (FSE: D910) has completed the acquisition of the remaining 49% interest in the North Island Copper Project near Port Hardy, Vancouver Island, British Columbia, bringing its ownership to 100%. The company made a final cash payment of $110,000 and issued 250,000 common shares to the property vendor to earn the remaining interest. With full control now secured, Questcorp is advancing the Marisa copper target toward drill testing, supported by results from a 2026 induced polarization survey.

Key Points

  • Questcorp Mining Inc. (CSE: QQQ) (OTCQB: QQCMF) (FSE: D910)
  • The company has completed acquisition of a 100% interest in the North Island Copper Project on Vancouver Island, B.C.
  • Final consideration comprised a $110,000 cash payment and 250,000 common shares; the project carries a 3% NSR royalty the company may buy back in full for up to $1.75 million total
  • Investors may be watching for receipt of the Notice of Work permit for 30 drill sites at the Marisa target

Acquisition Terms and Royalty Structure for North Island Copper

Under the terms of the option agreement, Questcorp earned the remaining 49% interest through a final cash payment of $110,000 and the issuance of 250,000 common shares to the property vendor. The issued shares are subject to a statutory hold period of four months and one day from the date of issuance. The vendor retains a 3% Net Smelter Return royalty. Questcorp may buy back the first 1% of the royalty for $750,000 and the remaining 2% for an additional $1 million, providing a path to eliminating the royalty obligation entirely.

Marisa Target: Historical Drilling and the 2026 IP Survey Findings

Historical drilling conducted in 1992 tested a shallow induced polarization target at Marisa and intersected porphyry-style copper mineralization in two of five holes, returning 0.078% copper over 56.39 metres in DDH92-01 and 0.041% copper over 70.71 metres in DDH92-03, according to the release. Questcorp's 2026 follow-up IP survey identified a significant increase in the intensity of the chargeability anomaly at depth, suggesting historical drilling may have intersected only the upper, lower-intensity portion of a potentially larger mineralized system. The company cautions that a Qualified Person has not verified the historical exploration data.

Permit Application Status and Path to Drill Testing

Questcorp currently has a multi-year Notice of Work permit application in process with the provincial Ministry of Mining and Critical Minerals for 30 drill sites at the North Island Copper Project. The company states that, subject to receipt of the permit, it intends to advance the Marisa target to drill testing. The technical content of the announcement was reviewed and approved by R. Tim Henneberry, P.Geo. (BC), a Director of the company and a Qualified Person under National Instrument 43-101. The company also holds an option on the La Union project in Sonora, Mexico.