MONTREAL, April 30, 2019 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEN, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to report on the strong copper-gold potential of its 100% owned Blanche and Charles projects, located in the James Bay Eeyou Istchee territory, Quebec. These projects are adjacent to the Mythril high-grade copper-gold-molybdenum-silver discovery of Midland Exploration Inc. (“Midland”, TSX.V: MD, see Midland’s press release dated November 6, 2018). The samples on the Mythril discovery are selected samples. The grades obtained are not necessarily representative of the mineralization hosted on the project. BHP Billiton Canada Inc. has recently made an investment of $ 5.9 M in Midland to fund drilling of the Mythril discovery.
The Blanche project (256 claims, 131 km2, NTS 33/G9 and 33/G10, Figures 1 and 2) is located at kilometre 230 of the Trans-Taïga Road. The Trans-Taïga Road extends east from the James Bay Road at kilometre 544. This project consists of a volcano-sedimentary belt striking ENE, present within a tonalite, quartz monzodiorite and granite intrusive domain. Quartz-feldspar porphyry dykes are present within the tonalite and granodiorite intrusions. The volcano-sedimentary belt consists of an horizon of amphibolitized basalt interlayered with ultramafic rocks, banded iron formations and wackes. Sulphides (pyrite, pyrrhotite, arsenopyrite and chalcopyrite) are observed locally and reach up to 10% in volume. Prospecting and selected grab sampling were completed by the Company in 2017. A total of 221 samples were collected systematically along lines spaced 400 m apart. The highest sample values are for copper : 0.31%, 0.29%, 0.10% and 0.10%; and for gold: 0.20 g/t, 0.19 g/t and 0.13 g/t. The values range from below detection limit to 0.31% for copper and to 0.20 g/t for gold. The averages are 0.02% for copper and 0.01 g/t for gold. The samples are selected samples. The grades obtained are not necessarily representative of the mineralization hosted on the project.
The Charles project (61 claims, 31 km2, NTS 33H12) is located approximately 15 km east of the Blanche project, along the Trans-Taïga Road. This project has a similar geological setting. It consists of a NE-striking horizon of amphibolitized basalt interbedded with banded iron formations and biotite-garnet paragneiss bands. Ultramafic rocks have been observed. Linear magnetic highs have been identified in the SE portion of the project and show a spatial correlation with the iron formations.
Field reconnaissance work will be carried out during the upcoming summer field season to further validate the copper-gold potential of both projects.
Jean-Sébastien Lavallée (OGQ #773), Vice-President Exploration, director and shareholder of the Company and Normand Champigny, Eng., Chief Executive Officer, 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 region, Quebec, near Newmont Goldcorp’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
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.
- November 17, 2019 Quebec Precious Metals Provides Update on $6.5 Million Bought Deal Private Placement
- October 29, 2019 Quebec Precious Metals: Message from the CEO
- October 22, 2019 Quebec Precious Metals Announces $6.5 Million Bought Deal Private Placement
- October 22, 2019 Quebec Precious Metals defines multiple gold targets ahead of drilling campaign along 13 km at Sakami
- October 02, 2019 Quebec Precious Metals reports high grade nickel mineralization at the Sakami gold project
- September 24, 2019 Quebec Precious Metals recovers historical drill cores at the Sakami gold project, provides exploration update
- August 20, 2019 Quebec Precious Metals appoints RPA to complete a Mineral Resource estimate
- July 30, 2019 Quebec Precious Metals announces first phase of 2019 Exploration Program
- July 12, 2019 Quebec Precious Metals hires SGS Canada for resource model
- July 09, 2019 Quebec Precious Metals and its partner Lomiko report multiple 100 m+ intercepts and multiple 10%+ Cg zones at its non-core high grade La Loutre Flake Graphite Project
- June 21, 2019 Quebec Precious Metals grants stock options
- June 18, 2019 Quebec Precious Metals: Message from the CEO
- June 05, 2019 Quebec Precious Metals Corporation extends La Pointe deposit at depth to 600 m and on strike to 900 m
- May 31, 2019 Quebec Precious Metals appoints Mario Caron, Dominique Dionne and Charles Main to its Board of Directors