Montreal, March 26, 2019 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEN, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to announce the drill results from reconnaissance drilling on the Simon-JR area located from 6 to 8 km NNE of the La Pointe area, at its 100% owned Sakami project, Eeyou Istchee James Bay region, Quebec.
In the Simon-JR area, eleven (11) diamond drill holes (“DDH”) totalling 1,661 m were completed as shown on Table 1 and Figures 1 and 2. The first five (5) drill holes reported in this release intersected gold mineralization. Highlights are as follows:
- Hole SI19-02 intersected 14.20 g/t gold over 2.0 m within a 15.25 m interval of 2.34 g/t gold in the Simon showing area; and
- Hole SI19-03 intersected 5.05 g/t gold over 5.06 m.
|Hole ID||UTM E||UTM N||Length (m)||Dip||Azimuth||From (m)||To(m)||Interval (m)||Au (g/t)|
Normand Champigny, CEO of QPM stated, “On this project where a 100-metre mineralization extension is considered significant, our reconnaissance drill holes located from 6 to 8 km from the La Pointe area have demonstrated the extensive footprint of gold mineralization at Sakami. Given these recent results, the Company has elected to plan further drilling in these areas to determine if this is a separate new gold discovery, or whether the La Pointe area extends through this new mineralized area”.
The mineralization consists of disseminated to semi-massive pyrite, pyrrhotite and arsenopyrite in a sedimentary iron formation. Similar mineralization has been intersected in each of the DDH. Most of the observed mineralization is hosted in basalts of the Yasinski Group (La Grande Subprovince) in contact with sedimentary rocks of the Laguiche Group (Opinaca Subprovince) to the east. The analytical results from the remaining six (6) holes at the Simon-JR area are expected to be available within the next month.
The drilling program continues with five (5) DDH totalling 2,500 m in the La Pointe area of the Sakami project. This is part of the of previously announced diamond drilling (see October 29, 2018 press release) to test down-plunge extensions at depth of the high grade zones, defined as >40 gram-metre drill intercepts (Au g/t x intersection length) and the existence of sub-parallel zones at shallower depths.
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, 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 region, Quebec, near 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
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.
- November 11, 2022 Idaho Champion and Quebec Precious Metals Closes Acquisition of Prospective Lithium Projects in Pegmatite-Rich James Bay region, Quebec
- November 07, 2022 Quebec Precious Metals receives $ 1 M payment
- October 12, 2022 Quebec Precious Metals announces results of Annual shareholders meeting
- October 10, 2022 Quebec Precious Metals continues sales process for Kipawa & Zeus projects following termination of agreement by Vital
- September 19, 2022 Idaho Champion Goes Full Battery by Acquiring Prospective Lithium Projects in James Bay Region; Quebec Precious Metals to Become Significant Shareholder
- September 08, 2022 Quebec Precious Metals to hold AGM on October 11th and Issue Shares in Payment of Debts
- July 22, 2022 Quebec Precious Metals Postponement of Annual Meeting of Shareholders
- May 26, 2022 Quebec Precious Metals drills La Pointe Extension: 0.84 g/t Au over 63 m downhole, higher-grade core extended +200 m at depth, open in all directions
- March 23, 2022 Quebec Precious Metals and GoldSpot provide an update on the Elmer East project: multiple gold targets over 4.5 km
- March 15, 2022 Quebec Precious Metals grants stock options
- March 10, 2022 Quebec Precious Metals drills La Pointe Extension: 69.6 g/t Au over 0.6 m within 1.32 g/t Au over 94 m downhole
- February 24, 2022 Quebec Precious Metals identifies drill targets over 2.5-km along strike from the La Pointe Extension gold deposit
- February 15, 2022 Quebec Precious Metals reports preliminary metallurgical test results from Sakami: up to 99% gold recoveries
- February 07, 2022 Vital and Quebec Precious Metals Corporation amend Kipawa/Zeus acquisition terms