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.
- 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
- February 14, 2019 Quebec Precious Metals updates the drilling at its Sakami gold project
- January 21, 2019 Quebec Precious Metals Corporation intersects 4.78 g/t Au over 6.0 m at Sakami, extending the gold mineralization on strike, and starts winter drilling campaign
- December 13, 2018 Quebec Precious Metals Corporation grants stock options
- December 05, 2018 Quebec Precious Metals Corporation outlines a 2 km anomalous gold trend at Sakami
- November 08, 2018 Debt Settlement
- October 29, 2018 Quebec Precious Metals initiates fall exploration program at Sakami focusing on the La Pointe area
- October 24, 2018 Quebec Precious Metals announces message from CEO
- September 18, 2018 Quebec Precious Metals welcomes you on its website
- September 10, 2018 Quebec Precious Metals intersects 3.22 g/t Au over 31.5 m and 3.59 g/t Au over 27 m at Sakami, extending the gold mineralization on strike by 100 m
- July 12, 2018 Quebec Precious Metals Corporation reports correction to the number of issued and outstanding common shares
- June 28, 2018 Canada Strategic Metals and Matamec close $5.4 million and create Quebec Precious Metals Corporation
- June 19, 2018 Annual and Special Meeting
- June 04, 2018 Canada Strategic Metals and Matamec file joint circular regarding annual and special meetings for shareholder votes on business combination