The Éléonore discovery in 2004, now a gold mine belonging to Newmont Corporation, triggered a significant staking rush and confirmed the potential of the area.
In part one of this two-part series, we discussed why James Bay is such an exciting region for exploration. In part two, we examine recent news from Quebec Precious Metals Corporation (QPM).
QPM is a gold explorer created in 2018 with the support of Newmont Corporation. The company is firmly on the path to finding the next Éléonore gold mine in the highly prospective Eeyou Istchee James Bay territory, Quebec.
Situated at a distance up to 1,500 m from the favourable contact between the Opinaca and La Grande geological subprovinces, QPM’s flagship project is the 100% owned Sakami project. The site shows significant grades and well-defined drill-ready targets and is rapidly advancing to an initial mineral resource estimate. The Sakami project contains the La Pointe gold deposit and is the subject of exploration campaigns. QPM is performing a fully funded 25,000 m drill program in 2020. The results of this drill program are pending.
QPM has also completed a magnetic heliborne survey covering its 100% owned Elmer East project located along trend from the recently announced seven discovery holes by Azimut Exploration Inc. on the Patwon prospect at its Elmer project. Patwon can potentially be a multi-million-ounce discovery. Seven drill holes proving sizeable mineralization, well-correlated with extensive surface sampling, widely open along strike, widely open at depth, with significant widths at the surface. The results will help define the next exploration phase on the project to be carried out by QPM in 2020.
Sakami and Elmer East projects
These two projects are not only exciting for QPM but also punctuate the growing promise of the James Bay region.
With the execution of the most significant drill program at Sakami and surface work to be done at Elmer East and other James Bay gold projects, there will be substantial news flow throughout the year.
When it comes to where exploration drills are busily biting the rock, there is no need to look any further than the emerging region of James Bay.
- November 11, 2022 Idaho Champion and Quebec Precious Metals Closes Acquisition of Prospective Lithium Projects in Pegmatite-Rich James Bay region, Quebec
- November 07, 2022 Quebec Precious Metals receives $ 1 M payment
- October 12, 2022 Quebec Precious Metals announces results of Annual shareholders meeting
- October 10, 2022 Quebec Precious Metals continues sales process for Kipawa & Zeus projects following termination of agreement by Vital
- September 19, 2022 Idaho Champion Goes Full Battery by Acquiring Prospective Lithium Projects in James Bay Region; Quebec Precious Metals to Become Significant Shareholder
- September 08, 2022 Quebec Precious Metals to hold AGM on October 11th and Issue Shares in Payment of Debts
- July 22, 2022 Quebec Precious Metals Postponement of Annual Meeting of Shareholders
- May 26, 2022 Quebec Precious Metals drills La Pointe Extension: 0.84 g/t Au over 63 m downhole, higher-grade core extended +200 m at depth, open in all directions
- March 23, 2022 Quebec Precious Metals and GoldSpot provide an update on the Elmer East project: multiple gold targets over 4.5 km
- March 15, 2022 Quebec Precious Metals grants stock options
- March 10, 2022 Quebec Precious Metals drills La Pointe Extension: 69.6 g/t Au over 0.6 m within 1.32 g/t Au over 94 m downhole
- February 24, 2022 Quebec Precious Metals identifies drill targets over 2.5-km along strike from the La Pointe Extension gold deposit
- February 15, 2022 Quebec Precious Metals reports preliminary metallurgical test results from Sakami: up to 99% gold recoveries
- February 07, 2022 Vital and Quebec Precious Metals Corporation amend Kipawa/Zeus acquisition terms