XXIX Metal's Fully Funded Drilling and PEA at Opemiska and Thierry: Unlocking Undervalued Copper-Gold Synergy in Brownfield Assets

In a world where commodities reign supreme, copper and gold have emerged as twin pillars of the modern super cycle. With global demand for copper surging due to the energy transition and gold maintaining its allure as a safe-haven asset, companies that can unlock synergies between these metals in low-risk, high-probability settings are poised to outperform. XXIX Metal Corp. (XXIX) is one such player, leveraging its fully funded drilling programs and upcoming Preliminary Economic Assessment (PEA) at its Opemiska and Thierry projects to capitalize on undervalued copper-gold synergy in brownfield assets.

The Commodity Super Cycle and the Case for Copper-Gold Synergy

The current commodity super cycle, driven by decarbonization, electrification, and geopolitical fragmentation, has pushed copper prices to multi-decade highs, while gold remains a hedge against inflation and currency devaluation. For investors, the key is to identify companies that can deliver both metals in a capital-efficient, low-risk framework. Brownfield assets—previously mined deposits with existing infrastructure and historical data—offer a compelling solution. They reduce exploration risk, lower capital expenditures, and accelerate timelines to production.

XXIX's Opemiska and Thierry projects exemplify this model. Both are legacy copper-gold operations with modernized resource models, strategic infrastructure, and a clear path to value creation through staged development.

Opemiska: A High-Grade Brownfield with Gold Upside

The Opemiska Project in Quebec's Chapais-Chibougamau District is a textbook example of how brownfield assets can be revitalized. Originally mined by Falconbridge from 1953 to 1991, Opemiska now boasts a 12% increase in pit-constrained resources to 1.438 billion pounds of copper equivalent (CuEq), with a compact pit shell and reduced surface footprint. This was achieved by reclassifying lower-grade stockwork mineralization and the Saddle Zone—a previously underexplored area—as part of the resource base.

The Saddle Zone, located between the Springer and Perry zones, has delivered standout results, including 5.3% Cu and 1.20 g/t Au over 11 meters. This high-grade intersection not only validates the geological model but also provides a near-term starter zone for staged development. The updated resource model includes 62.7 million tonnes of Indicated CuEq and 78.5 million tonnes of Inferred CuEq, with gold and silver credits further enhancing the project's value.

The brownfield advantage is stark: Opemiska sits adjacent to the town of Chapais, with year-round road access, proximity to Quebec's hydroelectric grid, and a legacy of historical production. These factors drastically reduce capital costs and timelines compared to greenfield projects. The upcoming PEA, expected to prioritize high-grade material for early payback, will likely highlight a robust internal rate of return (IRR) and a short cash flow breakeven period.

Thierry: A Multi-Metal Powerhouse with Infrastructure in Place

While Opemiska steals the spotlight, XXIX's Thierry Project in Ontario's Pickle Lake district is equally compelling. The project comprises two deposits—K1 and K2—both undergoing rigorous data validation and reinterpretation. K1 now hosts 53.6 million tonnes grading 0.38% Cu, 0.10% Ni, and 0.03 g/t Au, with mineralization extending to 400 meters depth. K2, historically the primary mining target, contains 23.7 million tonnes at 1.64% Cu and 0.5 g/t Au, with potential for further expansion.

Thierry's infrastructure is a major differentiator: an all-season road, a nearby airport, provincial power grid access, and rail connectivity. These assets position the project for rapid development once feasibility studies are completed. The company's aggressive drilling program, including a 20-hole initiative at the Saddle Zone, aims to convert waste to ore and expand the resource base.

Copper-Gold Synergy: A Dual-Engine for Value Creation

The true strength of XXIX's strategy lies in its ability to leverage copper-gold synergy. At Opemiska, the integration of high-grade copper with gold and silver credits creates a diversified revenue stream. For example, the CuEq formula (Cu + 0.8531Au + 0.0083Ag) ensures that even minor gold intersections significantly boost the project's economic viability. The Cooke Gold Project, a 2.5 km satellite deposit with a high-grade crown pillar, could further enhance this synergy if open-pit viability is confirmed.

Similarly, Thierry's multi-metal deposits (copper, nickel, gold, platinum, palladium, silver) offer flexibility in processing and market conditions. In a rising copper environment, the project can prioritize copper extraction; in a gold-driven scenario, the gold and PGMs (platinum-group metals) provide a safety net.

Risk Mitigation and Community Engagement

XXIX has proactively addressed key risks. The partial overlap of the Opemiska pit with the town boundary of Chapais is being managed through a formal working group, ensuring social acceptance. Historical data validation challenges are being tackled with modern geological modeling, while geotechnical studies are addressing slope stability and water inflow concerns.

The company's QAQC protocols—ranging from certified reference materials to gyroscopic drill orientation—underscore its commitment to data integrity. This transparency is critical for building investor confidence in a sector often plagued by speculative claims.

Investment Thesis: A High-Probability Play in a Super Cycle

XXIX's fully funded drilling programs and upcoming PEA at Opemiska represent a high-probability catalyst. The PEA is expected to validate a robust economic model with a short payback period and attractive IRR, setting the stage for a feasibility study and eventual production. Thierry's infrastructure and multi-metal potential add long-term upside.

In a market where copper and gold are in structural demand, XXIX's brownfield assets offer a lower-risk, higher-reward alternative to speculative greenfield projects. With a market cap that underprices its resource base and development potential, the company is well-positioned to outperform as the super cycle unfolds.

Conclusion: A Strategic Bet on Commodity Resilience

For investors seeking exposure to the copper-gold super cycle without the volatility of junior explorers, XXIX Metal's Opemiska and Thierry projects present a compelling case. The combination of brownfield advantages, copper-gold synergy, and infrastructure in place creates a high-probability path to value creation. As the PEA and drilling results roll in, this undervalued developer could become a cornerstone of a diversified commodities portfolio.

Investment Advice: Position for the PEA release and follow-up drilling results. Given the company's strong balance sheet and strategic assets, a long-term hold is warranted for those comfortable with the commodity super cycle's trajectory.