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Montreal, March 25, 2020 – Quebec Precious Metals Corporation (“QPM” or the “Company”) (TSX.V: CJC, OTCQB: CJCFF, FSE: YXEP) reports today that it has completed the winter drilling activities of the previously announced 25,000 m drilling program to be carried out in 2020 with two drills on its 100% owned flagship Sakami project in Quebec’s Eeyou Istchee James Bay territory. A total of 32 holes (7,250 m) have been drilled by QPM since the beginning of the year. Results will be released during the next few weeks.
The drilling program was designed to focus on: 1) expanding the La Pointe deposit and the Simon new high grade discovery with results that include 14.20 g/t Au over 2 m, 5.05 g/t Au over 5.06 m, and 4.66 g/t Au over 3.50 m; and 2) testing additional new targets across the 13-km mineralized trend striking SSW-NNE that includes the Apple, Péninsule, JR and Île showings (with gold mineralization detected in drill holes, grab and trench samples) (see press release of January 14, 2020).
QPM is fully-funded for the 2020 drilling program and its exploration activities. The Company has $5 million in cash and no debt .
Normand Champigny CEO of QPM, stated: “Following the Quebec government’s decision to minimize non-priority services and activities for the next three weeks, the Company has suspended its exploration activities and closed its corporate office. Our top priority is protect the health and safety of our employees and contractors, their families and neighboring communities while also taking steps to preserve long-term benefit to all stakeholders.”
Qualified Persons
Normand Champigny, Eng., Chief Executive Officer of the Company, and Jean-Sébastien Lavallée (OGQ #773), geologist, Vice-President Exploration, director and shareholder of the Company, both Qualified Persons under NI 43- 101 on standards of disclosure for mineral projects, have prepared and approved the technical content of this release.
About Quebec Precious Metals Corporation
QPM is a gold explorer with a large land position in the highly-prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. QPM’s flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM’s goal is to rapidly explore this project to advance it to the mineral resource estimate stage.
For more information please contact:
Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca
Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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