News Summary
On December 23, 2025, QcX Gold Corp. (QCX) announced the final closing of the Olsen Project acquisition in Ontario. This follows the initial announcement on December 12, 2025. The company acquired a 100% interest in 3,715 hectares in the Batchawana Bay area. Consideration for the deal included 500,000 common shares issued at a deemed price of $0.33 per share and an initial cash payment of $28,000. This acquisition expands the company’s “Batchawana Project” footprint, placing it adjacent to Sterling Metals’ Soo Copper Project.
Material Impact
– Strategic Expansion: The acquisition is materially positive as it consolidates a large, contiguous land position (Batchawana Project) in a region seeing active discovery (Sterling Metals’ Soo Copper). The property shares 6.6 km of boundary with a known discovery, which provides high-priority “near-ology” targets.
– Execution of Projections: Management is following through on its late-2025 pivot toward Ontario. In October and November 2025, the company closed the acquisition of 323 mining claims in the same area (Batchawana Bay), issuing 6 million shares. The Olsen deal completes this land-consolidation phase.
– Dilution Management: The issuance of shares at $0.33 is in line with current market prices, avoiding the “death spiral” or deep-discount private placements often seen in juniors. however, the total shares issued for the Batchawana area acquisitions (6.5 million) represent significant dilution (approx. 30% of the pro-forma share count).
– Asset Quality: Historical data on Olsen shows 1.98 g/t Au and minor copper hits. While these are not “bonanza” grades, the lack of modern systematic exploration (which QcX intends to fix with a high-resolution magnetic survey) represents legitimate upside.
Catalysts
– Magnetic Survey Results: Evaluation of the airborne magnetic survey (commenced Nov 2025) will be the primary catalyst for target generation.
– 2026 Exploration Program: Look for the announcement of a ground-truthing and prospecting program in early 2026 to “ground-truth” the magnetic data.
– Capital Raise: Given the cash balance of $361,988 as of September 30, 2025, and subsequent cash payments for acquisitions (~$43,000), the company has very limited runway for a drill program. Expect a financing announcement before Q2 2026.
Materiality Conclusion
The news is Material – Positive. It transforms QcX from a Quebec-focused explorer with stagnant projects (Golden Giant/Fernet) into a major landholder in an emerging Ontario copper-gold camp. The company has successfully executed three acquisition-related milestones in 90 days, demonstrating high management urgency.
