Montreal, October 29, 2018 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEN, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to announce the start of the fall 2018 exploration program at the Sakami gold project located in James Bay, Quebec (see Figure 1 attached). Recently the Company announced an important extension of the mineralized system (see September 10, 2018 press release) at the La Pointe area and intercepts of 3.22 g/t Au over 31.5 m (PT- 18-118) and 3.59 g/t Au over 27 m (PT-18-120).
The technical committee comprised of members from Goldcorp Inc. and QPM has designed and approved a $1.8 million budget for surface exploration and diamond drilling for the balance of 2018 and early 2019. QPM will advance the project through further surface work and drilling to better delineate this gold system. The program focusing on the La Pointe area, is underway and consists of the following activities:
A minimum of 3,000 m of diamond drilling is planned to test down-plunge extensions at depth of the high grade zones defined as >40 g/t Au x drill intercepts (gram metres) identified following the winter 2018 drilling program and the existence of sub-parallel zones at shallower depths (see Figure 2 attached).
Multi-element analytical work using the ICP method will be completed on 1.5 metre samples selected from drillholes in the central portion of the zone to: (1) improve the understanding of the spatial distribution of gold and associated metals including arsenic and antimony; and (2) map alteration assemblages and establish unaltered lithogeochemical suites in order to help with core logging and regional target recognition in the future.
Approximately 1,000 soil samples have been collected and are being analyzed for gold and pathfinder elements to test the potential presence of an extension to the La Pointe zone to the west.
Diamond drilling to date on the La Pointe zone (127 holes, 22,700 m) has:
- outlined a large mineralized area of 800 m long by 450 m wide along dip and to a depth of 400 m below surface;
- confirmed a significant potential for further extending mineralization at depth and to the west; and
- defined two substantial gold zones (zones 25 and 26) within the volcano-sedimentary Yasinski Group (La Grande Subprovince) which is metamorphosed to amphibolite facies and strongly deformed by a regional WSW to ENE event. This assemblage composed mainly of basaltic amphibolite with local sedimentary iron formations, is intruded by tonalitic intrusions that are very deformed as well. These units are is structurally superposed with a sequence mostly formed of biotite rich paragneiss.
In addition, exploration to date on the JR-Simon-9.6 area, located about 6 km NNE of the La Pointe area (see Figure 3, attached) has:
- outlined a 3.8 km by 1.5 km northeasterly trending gold soil geochemical anomaly; and
- identified many high-grade surface showings up to 28.75 g/t Au in grab samples presently untested by drilling. The mineralization is contained in basalts of the Yasinski Group in contact with sedimentary rocks of the Laguiche Group (Opinaca Subprovince) to the east.
The details of the exploration program on the JR-Simon-9.6 area will be finalized later this fall.
Normand Champigny, Ing., Chief Executive Officer and Jean-Sébastien Lavallée (OGQ #773), Vice-President Exploration of the Company and 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.
- 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
- May 31, 2018 Canada Strategic Metals and Matamec intersect 3.08 g/t Au over 15 m and 5.31 g/t Au over 4.5 m on the Sakami Property
- April 26, 2018 Strategic Investment by Goldcorp to Create a New Gold Explorer in the Eeyou Istchee James Bay Territory of Quebec with Canada Strategic Metals, Matamec Explorations and Sphinx Resources
- March 01, 2018 Canada Strategic Mobilizes Second Drill & Increases its Drilling Program to 8,000 metres