Download PDF | View documents on Sedar
- Assaying are pending from 10 drill holes (“DDH”) including 4 DDH at the La Pointe Extension
- Highlights from the 2020 winter drilling program are:Â
- 1.14 g/t Au over 70.30 m including 1.66 g/t Au over 36.90 m
- 3.65 g/t Au over 4.10 m
- 1.45 g/t Au over 35.40 m
- 1.15 g/t Au over 80.10 m including 4.63 g/t Au over 5.95 m
- 0.60 g/t Au over 51.60 m
- 4.15 g/t Au over 3.50 m
- 7,000 m summer diamond drilling program to commence in early August
Montreal, July 22, 2020 – Quebec Precious Metals Corporation (“QPM” or the “Company”) (TSX.V: CJC, OTCQB: CJCFF, FSE: YXEP) is pleased to report additional drill results at the La Pointe Extension discovery following the 7,448 m winter diamond drilling program on the 100% owned Sakami Project (the “Project”) in Quebec’s Eeyou Istchee James Bay territory. A 7,000 m summer drilling campaign is scheduled to start in early August to better define the exploration potential of this discovery. Assaying is pending from 4 DDH completed at the La Pointe Extension.
Results recently received from winter drilling program continues to highlight gold mineralized system continuity and significant exploration potential to the SW of the La Pointe deposit (see Table 1 for complete results of the program).
Normand Champigny CEO of QPM, stated: “Our exploration activities carried out since the creation of the Company in 2018 have resulted in the La Pointe Extension discovery and a high rate of successful drilling results.”Â
The La Pointe deposit and new La Pointe Extension discovery are part of a larger 2-Â kilometre-long mineralized trend on the Project striking SSW-NNE (see Figures 1 and 2 and press releases of April 21, June 18 and June 23, 2020). This discovery has potential kilometre-scale extensions that have been subject to very limited surface exploration and no drilling.
The drilling results indicate that gold-bearing mineralization at the La Pointe Extension discovery and La Pointe have a similar geological character: hosted within 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 arsenopyrite, pyrite and pyrrhotite and cross-cutting quartz-carbonate veinlets.
The Project provides the Company with a controlling position over a 23-kilometre-long segment of a favourable geological contact and comprises of 259 claims (131.1 km2). It is located 570 km north of Val-d’Or, 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-power grid and airports. Drilling can be carried out throughout the year.
Quality Assurance/Quality Control
The drilling contract was awarded to Forage Val-d’Or Inc. based in Val d’Or, Quebec. The DDH diameter is NQW. Drilling took place from January 15 to March 24, 2020. 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.
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 TSXÂ Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Table 1: Sakami Project - Summary of significant gold results, La Pointe deposit and 
La Pointe Extension and Simon area - Press release of July 22, 2020.
Notes:- All widths are drill indicated 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.
La Pointe Deposit and La Pointe Extension
Hole # | UTM E | UTM N | Length (m) | Azimuth (°) | Dip (°) | Number of samples | From (m) | To (m) | Interval (m) | Au (g/t) |
---|---|---|---|---|---|---|---|---|---|---|
La Pointe Deposit | ||||||||||
PT-20-138 | 375462 | 5895042 | 141 | 135 | -50 | 94 | No significant values |
|||
PT-20-139 | 375532 | 5895041 | 60 | 135 | -50 | 59 | 36.50 | 40.00 | 3.50 | 4.15 |
PT-20-140 | 375496 | 5895077 | 174 | 135 | -63 | 149 | 118.00 | 119.00 | 1.00 | 1.17 |
173.00 | 174.00 | 1.00 | 1.68 |
|||||||
PT-20-141 | 375536 | 5895107 | 132 | 135 | -54 | 109 | 54.00 | 65.00 | 11.00 | 1.04 |
Including | 54.00 | 55.50 | 1.50 | 3.41 |
||||||
Including | 62.30 | 65.00 | 2.70 | 1.66 |
||||||
79.40 | 80.50 | 1.10 | 1.13 |
|||||||
105.00 | 106.00 | 1.00 | 1.23 |
|||||||
PT-20-142 | 375496 | 5895008 | 60 | 135 | -50 | 62 | 39.00 | 40.00 | 1.00 | 1.31 |
PT-20-143 | 375623 | 5895020 | 201 | 0 | -50 | 183 | 83.00 | 84.00 | 1.00 | 1.99 |
PT-20-144 | 375602 | 5894893 | 276 | 330 | -50 | 209 | 69.00 | 72.00 | 3.00 | 1.68 |
163.50 | 164.00 | 0.50 | 1.17 |
|||||||
193.80 | 195.00 | 1.20 | 1.15 |
|||||||
PT-20-145 | 375650 | 5894909 | 216 | 335 | -50 | 182 | 22.10 | 26.10 | 4.00 | 1.31 |
45.30 | 96.90 | 51.60 | 0.60 |
|||||||
Including | 60.00 | 63.00 | 3.00 | 1.33 |
||||||
Including | 72.50 | 79.00 | 6.50 | 2.14 |
||||||
PT-20-146 | 375695 | 5894940 | 270 | 0 | -50 | 235 | 60.50 | 64.70 | 4.20 | 1.55 |
PT-20-147 | 375812 | 5894959 | 276 | 0 | -50 | 214 | 22.00 | 29.00 | 7.00 | 2.69 |
125.90 | 137.00 | 11.10 | 0.31 |
|||||||
Including | 125.90 | 127.40 | 1.50 | 1.09 |
||||||
171.00 | 175.50 | 4.50 | 1.38 |
|||||||
La Pointe Extension | ||||||||||
PT-20-148 | 374470 | 5894276 | 345 | 145 | -50 | 316 | 54.00 | 55.20 | 1.20 | 1.06 |
241.20 | 241.60 | 0.40 | 5.61 |
|||||||
279.00 | 280.50 | 1.50 | 4.06 |
|||||||
288.90 | 296.50 | 7.60 | 2.91 |
|||||||
PT-20-149 | 374202 | 5894096 | 348 | 145 | -50 | 280 | 241.45 | 242.15 | 0.70 | 2.19 |
252.50 | 253.20 | 0.70 | 5.06 |
|||||||
PT-20-150 | 374263 | 5894016 | 270 | 143.4 | -50.7 | 210 | 189.50 | 221.00 | 31.50 | 0.49 |
PT-20-151 | 373962 | 5893849 | 336 | 145 | -50 | 300 | 231.90 | 312.00 | 80.10 | 1.15 |
Including | 269.00 | 293.95 | 24.95 | 2.21 |
||||||
Including | 288.00 | 293.95 | 5.95 | 4.63 |
||||||
PT-20-152 | 374632 | 5894963 | 729 | 27 | -53 | 130 | 700.50 | 714.00 | 13.50 | 0.52 |
PT-20-153 | 374019 | 5893767 | 267 | 145 | -50 | 222 | 152.10 | 187.50 | 35.40 | 1.45 |
Including | 175.00 | 179.10 | 4.10 | 3.65 |
||||||
PT-20-154* | 374017 | 5893857 | 366 | 145 | -50 | 296 | 74.80 | 81.60 | 6.80 | 2.74 |
Including | 80.10 | 81.60 | 1.50 | 11.75 |
||||||
196.40 | 266.70 | 70.30 | 1.14 | |||||||
Including | 196.40 | 233.30 | 36.90 | 1.66 | ||||||
PT-20-155 | 373935 | 5893799 | 294 | 145 | -50 | 244 | Assays pending |
|||
PT-20-156 | 373906 | 5893749 | 300 | 145 | -50 | 278 | Assays pending |
|||
PT-20-157 | 373865 | 5893720 | 378 | 145 | -50 | 340 | Assays pending |
|||
PT-20-158 | 373917 | 5893646 | 264 | 145 | -50 | 227 | Assays pending |
Hole ID | UTM E | UTM N | Length (m) | Azimuth(°) | Dip(°) | Number of samples | From (m) | To(m) | Interval (m) | Au (g/t) |
---|---|---|---|---|---|---|---|---|---|---|
SI-20-06 | 376176 | 5897593 | 165 | 315 | -60 | 148 | 7.50 | 11.50 | 4.00 | 0.37 |
23.60 | 31.50 | 7.90 | 0.30 |
|||||||
48.00 | 105.30 | 57.30 | 0.52 |
|||||||
including | 48.00 | 66.00 | 18.00 | 0.90 |
||||||
including | 84.50 | 105.30 | 20.80 | 0.57 |
||||||
SI-20-07 | 376442 | 5897352 | 150 | 330 | -60 | 121 | No significant values |
|||
SI-20-08 | 376232 | 5897427 | 126 | 135 | -75 | 39 | 78.50 | 80.30 | 1.80 | 0.72 |
SI-20-09 | 376143 | 5897503 | 146.20 | 315 | -50 | 124 | 30.50 | 31.60 | 1.10 | 1.31 |
SI-20-10 | 376338 | 5897569 | 150 | 315 | -50 | 48 | No significant values |
|||
SI-20-11 | 376555 | 5897372 | 159 | 315 | -50 | 70 | Assays pending |
|||
SI-20-12 | 376759 | 5897593 | 129 | 315 | -75 | 48 | Assays pending | |||
SI-20-13 | 377064 | 5897440 | 201 | 315 | -75 | 22 | Assays pending | |||
SI-20-14 | 377005 | 5897500 | 150 | 315 | -50 | 24 | Assays pending | |||
SI-20-15 | 376934 | 5897308 | 150 | 315 | -50 | 5 | Assays pending | |||
SI-20-16 | 376176 | 5897593 | 219 | 315 | -72 | 150 | Assays pending |
- November 26, 2024 Quebec Precious Metals Reports Consistent +20m Thick Spodumene-Bearing Pegmatite Up to 150m Deep from its Maiden Drilling Program on its 100%-owned Lithium Ninaaskumuwin Discovery, James Bay, Quebec
- November 07, 2024 Quebec Precious Metals to Issue Shares in Payment of Services and Deferred Share Units
- October 31, 2024 The Cree Hunters Economic Security Board, 16 Mining & Exploration Companies Contribute $750,000 For The Reconstruction Initiative Forest Fires Fund 2023, James Bay, Quebec
- October 30, 2024 Quebec Precious Metals Intersects 22.9 m of Spodumene-Bearing Pegmatite in the First Drillhole of its Maiden Drilling Program on its 100% Owned High-Grade Lithium Ninaaskumuwin Discovery, James Bay, Quebec
- October 21, 2024 Quebec Precious Metals Begins Maiden Drilling Program on its 100% Owned High-Grade Lithium Ninaaskumuwin Discovery, Situated Near the Galaxy Project to be Acquired by Rio Tinto, James Bay, Quebec, Announces Private Placement
- September 19, 2024 Quebec Precious Metals Congratulates Harfang Exploration on its High-Grade Gold Discoveries near the Sakami Project and Provides Update on Gold and Lithium Exploration Initiatives in James Bay
- August 09, 2024 Quebec Precious Metals to Issue Shares in Payment of Services and Deferred Share Units
- July 17, 2024 Quebec Precious Metals Announces Results of Annual Shareholders Meeting, Grants Deferred Share Units and Stock Options
- June 27, 2024 Quebec Precious Metals Congratulates Ophir on its Spodumene Discovery near the Elmer East Project, James Bay, Quebec
- June 26, 2024 Quebec Precious Metals Granted Financial Support from Quebec Government for Lithium
- June 21, 2024 Quebec Precious Metals Announces Closing of Non-Brokered Private Placement
- May 31, 2024 Quebec Precious Metals Announces First Closing of a Private Placement
- May 28, 2024 Quebec Precious Metals to Issue Shares in Payment of Debts and Deferred Share Units
- April 03, 2024 Quebec Precious Metals and Harfang Exploration Jointly Identify High-Priority Gold and Lithium Drill Targets on their Sakami and Serpent-Radisson Projects, James Bay Region, Quebec