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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.
Exploration potential
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.
Qualified Persons
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:
Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca
Paradox Public Relations
Tel: 514 341-0408
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 TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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- 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
- 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