Highlights of winter 2019 drill campaign
- New mineralized intercepts below 600 m vertical depth
- Drilling to date outlines a mineralized area 900 m along strike of the La Pointe deposit
- Interpreted fault corridor suggests a 2,500 m long mineralized trend extending to a series of strong soil gold geochemical anomalies
Montreal, June 5, 2019 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to announce the results from the five (5) drillholes (totalling 2,499 m) completed during the 2019 winter campaign at the La Pointe deposit of its 100% owned Sakami gold project, Eeyou Istchee James Bay territory, Quebec. These holes are part of the previously announced diamond drilling (“DDH”) campaign (see October 29, 2018 press release) to test down-plunge extensions of the high-grade zones at depth, defined as >40 gram-metre drill intercepts (Au g/t x intersection length) and the existence of sub-parallel zones at shallower depths.
Exploration drilling has discovered a mineralized extension of the La Pointe deposit at approximately 600 m vertical depth in the western portion of zone 25 of the deposit. It is interpreted that a fault corridor has displaced this extension by about 200 m to the north. Hole PT-19-137 intersected a wide zone of silicified paragneiss with some pegmatite containing disseminated pyrite and arsenopyrite containing gold mineralization from 618.4 m to 747 m downhole. The new gold intercepts are between 100 m to 150 m distal from the previous deepest gold-bearing intercepts and confirm that gold mineralization remains open at depth. The DDH performed to date outlines a mineralized area with a strike length of 900 metres. The fault-displaced depth extension is located on a 2,500 m mineralized trend starting from the La Pointe deposit to the areas to the west and southwest characterized by strong soil gold and arsenic geochemical anomalies (see December 5, 2018 press release).
Significant DDH results are provided in Table 1. Figure 1 shows the location of these results on a longitudinal section and Figure 2 illustrates that a 2,500 m long mineralized trend.Table 1: Results of (5) DDH from the La Pointe deposit. All widths are drill indicated core length. Intervals are presented in core length; DDH are generally planned to intersect mineralization as close to perpendicular to strike as possible; true widths are estimated to range from 75% to 90% of the down-hole length when DDH inclination and dip of the mineralized horizons are considered. All gold values presented are not capped.
|Hole ID||UTM E||UTM N||Length (m)||Azimuth||Dip||From (m)||To (m)||Interval (m)||Au (g/t)
|PT-19-136||374801||5895027||540||0||56.5||No significant values|
The mineralization at the La Pointe deposit occurs in two substantial gold zones (zones 25 and 26) hosted by a volcano-sedimentary sequence of the Yasinski Group (La Grande Subprovince) which is metamorphosed to amphibolite facies and strongly deformed by a regional WSW to ENE event. This sequence is in contact with sedimentary rocks of the Laguiche Group (Opinaca Subprovince) to the east. The lithologies are composed mainly of: 1) biotite-rich and silicified paragneiss with intrusions of granodiorite, tonalite and pegmatite, and 2) amphibolite (metamorphosed sedimentary iron formation and mafic volcanic rock). The gold mineralization is accompanied by disseminated pyrite, pyrrhotite and arsenopyrite and cross-cutting quartz-carbonate veinlets.
The technical committee comprised of members from Newmont Goldcorp Corporation (“Newmont”) and QPM will be meeting over the next few weeks to conduct a detailed review of the recent exploration results. The review process will include the integration of all available geological, geophysical and geochemical data including the harmonization of the two geophysical surveys on the Sakami and Apple projects. Newmont and QPM will plan and approve the summer and fall 2019 exploration and drilling program at Sakami. This program will benefit from Newmont’s technical expertise and knowledge.
Quality Assurance/Quality Control
Quality assurance and quality control procedures have been implemented to ensure best practices in sampling and analysis of the core samples. The drill core was logged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. Duplicates, standards and blanks were inserted regularly into the sample stream. The samples were delivered, in secure tagged bags, directly to the ALS Minerals laboratory facility in Val-d’Or, Quebec. The samples are weighed and identified prior to sample preparation. All samples are analyzed by fire assay with AA finish on a 30 g sample (0.005-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au.
The field work was under the supervision of Jean-Sébastien Lavallée (OGQ #773), Vice-President Exploration, director and shareholder of the Company. Normand Champigny, Eng., Chief Executive Officer of the Company, and Jean-Sébastien Lavallée, 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 new gold explorer with a large land position in the highly-prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Goldcorp 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:
Tel.: 514 951-2730
Paradox Public Relations
Tel: 514 341-0408
Chief Executive Officer
Tel.: 514 979-4746
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.
- January 20, 2021 Quebec Precious Metals obtains 4.06 g/t Au, 38.85 g/t Ag, 1.72 % Zn, 1.88 % Pb over 2.0 m from channel sampling on the Elmer East project
- January 13, 2021 Quebec Precious Metals receives payments of $300,000 from sales of non-core assets
- December 15, 2020 Quebec Precious Metals drilling returns High Grade at La Pointe Extension: 60.8 g/t Au over 0.3 m within 1.4 m at 15.01 g/t Au, initiates metallurgical testing
- December 10, 2020 Fjordland to acquire historic Renzy Nickel Copper project, Quebec; Quebec Precious Metals monetizes non-core asset
- November 24, 2020 Quebec Precious Metals intersects 42 m at 1.31 g/t Au, including 16.8 m at 1.95 g/t Au at La Pointe Extension
- November 09, 2020 Quebec Precious Metals intersects 80 m at 1.10 g/t Au at La Pointe Extension
- October 26, 2020 Quebec Precious Metals appoints Robert P. Boisjoli as Chief Financial Officer
- October 21, 2020 Quebec Precious Metals Corporation announces results of Annual and Special General shareholders meeting
- October 15, 2020 Quebec Precious Metals Corporation provides exploration update
- October 08, 2020 Quebec Precious Metals Corporation: Reminder – Annual and Special General Meeting of Shareholders
- September 16, 2020 Quebec Precious Metals discovers a new gold and base metals system from surface sampling at Elmer East with grabs up to 17.75 g/t Au
- September 10, 2020 Quebec Precious Metals extends the La Pointe Extension discovery with 53 m at 1.03 g/t Au and near surface discovery at Simon
- August 13, 2020 Quebec Precious Metals expands La Pointe Extension discovery over 2 km; continues drilling
- August 04, 2020 Quebec Precious Metals Corporation change its stock symbol