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.
- 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
- May 23, 2019 Quebec Precious Metals provides update on monetizing non-core assets
- May 06, 2019 Quebec Precious Metals and its partner Lomiko report intercept of 116.9 m of 4.80% including 15.2 m of 18.04% and 47.3 m of 7.56% including 11.3 m of 17.45% flake graphite on its non-core high grade La Loutre asset
- April 30, 2019 Quebec Precious Metals Corporation: strong copper-gold potential of the Blanche and Charles projects near the recent Mythril copper-gold discovery, James Bay region, Quebec
- April 24, 2019 Quebec Precious Metals and its partner Lomiko report intercept of 87.9 m of 7.14% including 21.0 m of 15.48% flake graphite on its non-core high grade La Loutre project
- April 23, 2019 Quebec Precious Metals extends previously announced new near-surface drill discoveries at Sakami including 1.27 g/t Au over 15 m and 4.66 g/t Au over 3.5 m
- March 26, 2019 Quebec Precious Metals drills new near-surface gold discoveries at Sakami including 14.20 g/t Au over 2.0 m and 5.05 g/t Au over 5.06 m