Canadian explorer Questcorp Mining (CSE:QQQ) plans to use this year’s Prospectors & Developers Association of Canada (PDAC) convention to seek out potential project acquisitions.
“I will be meeting with other company executives to discuss potential project acquisition opportunities and/or partnerships,” CEO Saf Dhillon, a veteran attendee of PDAC, tells Mining.com.au.
“I will also be meeting with brokers and investors that have been instrumental in our current efforts to fund the execution of the first phase of development work at the La Union Project.”
Questcorp late last year inked a letter of intent with Riverside Resources (TSXV:RRI) for an option to acquire the La Union Project in Mexico, where grab samples have returned grades of up to 83.2 grams per tonne gold and up to 30% zinc.
Dhillon says that while record gold prices have not driven interest in micro-cap companies just yet, there is a renewed interest in companies that have a great capital structure, a proven management team and, just as importantly, projects like La Union that have all the characteristics for a potential new discovery.
Questcorp has been present at PDAC since its initial public offer to list on the Canadian Securities Exchange in 2023 and Dhillon has been a regular attendee since about 2005.
“Historically PDAC is one of the premier mining events for public and private companies and investors of all sizes to meet, connect and potentially collaborate on international projects of all sizes,” he says.
Questcorp is in the process of completing a non-brokered private placement offering up to 33 million units at C$0.06 ($0.07) each to raise $1.98 million.
Each unit comprises one share and one share purchase warrant exercisable at C$0.10 within two years.
The cash raised will be used to complete the acquisition of the La Union Project from Riverside Resources, as well as continue a small exploration program at the North Island Copper Property.
Questcorp is required to make cash payments totalling $100,000 in stages, as well as spend $5.5 million on exploration over a period of four years.
Riverside has identified over eight targets, with the three highest priority targets hosting past mining activity.
Questcorp says these targets demonstrate “intriguing potential” for large gold discoveries potentially above an even larger copper porphyry district potential.
The company aims to expand the mineralisation footprints at these targets during the first phase of exploration.
Key developments for 2025 include closing of the current financing, execution of a definitive agreement for La Union, completion of a NI 43-101-compliant resource report and a first-phase development at La Union.
PDAC is being held from 2-5 March at the Metro Toronto Convention Centre in Canada.
The convention brings together up to 30,000 attendees from over 130 countries for its educational programming, networking events, as well as business and investment opportunities.
Mining.com.au is an official media partner for the upcoming event. To register for PDAC 2025 click here.
Write to Angela East at Mining.com.au
Images: PDAC
