Montreal, June 9, 2021 – Quebec Precious Metals Corporation (“QPM” or the “Company”) (TSX.V: QPM, OTCQB: CJCFF, FSE: YXEP) is pleased to report the drill results from the 2021 winter program (7 holes, 2,079 m) for its 100% owned Sakami Project (the “Project”) in Quebec’s Eeyou Istchee James Bay territory. The fully-funded summer program has started (see press release of June 1, 2021) and is designed to expand the mineralized zone at La Pointe Extension with 12,000 m of drilling in (40+ holes).
Highlights (Figures 1 to 5, Table 1)
- Two holes (PT-21-177, -182) have intersected mineralization over wide intervals (silicified paragneiss with disseminated pyrite and arsenopyrite),
– 1.83 g/t Au over 58.6 m including 2.40 g/t Au over 30.9 m; and
– 2.15 g/t Au over 42.2 m including 5.17 g/t Au over 14.5 m.
- Three holes (PT-21-177, -178, -182) have reported high-grade intervals (> 10 g/t Au over at least 1 m).
- The mineralization continues to extend at depth and along strike as illustrated by the grade x thickness values contours on longitudinal sections (Figures 2, 3 and 4).
The La Pointe Extension deposit, has a strike length of 3,500 m, a minimum depth of 400 m and an average estimated true thickness of 40 m (and up to 101 m), on the basis of the 35 holes drilled to date.
Normand Champigny, CEO of QPM, stated: “The 2021 winter program at the La Pointe Extension generated some of the best drill results on the Sakami Project. We are very excited to drill this summer to confirm the high-grade potential at depth and along strike.”
Complete drill results and calculated drill hole composites are available on QPM’s website (https://www.qpmcorp.ca/en/projects/sakami-technical-information/ ).
The Project provides the Company with a controlling position over a 23-kilometre-long segment of a favourable geological contact and comprises 281 claims (142 km2). It is located 570 km north of Val d’Or, Quebec, 120 km east of the municipality of Wemindji, 90 km from the Éléonore gold mine and 47 km northeast of the paved James Bay Road. Good infrastructure is present including major access roads, a hydro-powered electric grid and airports. Drilling can be carried out throughout the year.
Quality Assurance/Quality Control
For the Sakami project, the drilling contract was awarded to Forage Val-d’Or Inc. based in Val-d’Or, Quebec. The hole diameter is NQW. 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.
Normand Champigny, Eng., Chief Executive Officer of the Company, and Richard Nieminen, P. Geo., Senior Exploration Manager, 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 the Project to advance it to the mineral resource estimate stage.
For more information, please contact:
Tel.: 514 951-2730
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.
Table 1: Sakami Project - Summary of 2021 winter drilling program, significant drill results
|Hole #||UTM E||UTM N||Length (m)||Azimuth (°)||Dip (°)||Number of samples||From(m)||To (m)||Interval (m)||Au(g/t)|
- All widths are drill indicated core length.
- Drilholes are generally planned to intersect mineralization as close to perpendicular to strike as possible.
- True widths are considered to be almost 100% of the down-hole length when drillhole inclination and dip of the mineralized horizons are considered.
- All gold values presented are not capped.
- June 11, 2021 Quebec Precious Metals grants stock options
- June 09, 2021 Quebec Precious Metals cuts 1.83 g/t Au over 58.6 m and 2.15 g/t over 42.2 m Au in drilling in near-surface, high-grade intervals, on the Sakami project
- June 07, 2021 Quebec Precious Metals appoints two independent women to its board of directors
- June 01, 2021 Quebec Precious Metals files technical report on Sakami project; starts summer field program
- May 18, 2021 Quebec Precious Metals Corporation closes additional tranche of oversubscribed $3,250,000 private placement
- May 05, 2021 Quebec Precious Metals Corporation closes second and final tranche of oversubscribed $3,228,000 private placement
- May 04, 2021 Quebec Precious Metals Corporation closes first tranche of $2,634,399 private placement
- April 21, 2021 Quebec Precious Metals upsizes private placement offering of common shares to $ 2.7 Million
- April 14, 2021 Quebec Precious Metals announces $1.5 million private placement of common shares
- March 04, 2021 Quebec Precious Metals announces start of drilling at Sakami and retains services of Hinge Markets Inc.
- February 22, 2021 Quebec Precious Metals issues deferred shares units and grants stock options
- February 01, 2021 Quebec Precious Metals receives payment of $1.125 M; Lomiko acquires 100 % of the La Loutre graphite project
- January 27, 2021 Quebec Precious Metals provides update on Sakami drilling and outlines plans for 2021
- January 26, 2021 Quebec Precious Metals appoints Richard Nieminen as Senior Exploration Manager