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Highlights of the 7,226 m 2018 drill campaign
- PT-18-116: 3.89 g/t Au over 14.9 m including 4.26 g/t Au over 11.9 m
- PT-18-118: 3.22 g/t Au over 31.5 m including 5.11 g/t Au over 15.0 m
- PT-18-120: 3.59 g/t Au over 27.0 m including 5.06 g/t Au over 15.0 m
- PT-18-127: ended at 502 m with 2.04 g/t Au over 2.5 m
- Drilling to date has outlined a mineralized area of 800 m long by 450 m wide along dip and to a depth of 400 m below surface.
- There is a significant potential for further extending mineralization at depth and to the west.
Montreal, September 10, 2018 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEN, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to provide an update on the 2018 exploration program on its 100% owned flagship Sakami project, and located in Eeyou Istchee James Bay, Quebec. Significant drill results for the entire program are provided in the table below; including drill coordinates, two figures and quality assurance and quality control information. A total of 7,226 m of drilling was completed in 21 drill holes. The last hole of the campaign (PT-18-127) ended in mineralization with 2.04 g/t Au over 2.5 m. This is one of the deepest holes drilled suggesting potential for further extending mineralization at depth. The possibility to re-enter the hole to test the full extent of the mineralization will be evaluated.
Table 1 – Mineralized intersections from drill program and drill hole coordinates
(last results received and reviewed in August 2018)
| Hole | UTM E | UTM N | Length (m) | Azimuth | Dip | From (m) | To (m) | Interval (m) | Au g/t |
|---|---|---|---|---|---|---|---|---|---|
| PT-18-107 | 375310 | 5895040 | 312.0 | 3.4 | -66 | 250.5 | 256.5 | 6.0 | 1.31 |
| Including | 253.5 | 256.5 | 3.0 | 1.74 | |||||
| PT-18-107 | 264.0 | 265.5 | 1.5 | 1.28 | |||||
| PT-18-107 | 289.5 | 291.0 | 1.5 | 1.49 | |||||
| PT-18-108 | 375213 | 5894986 | 363.0 | 2.0 | -66 | 285.0 | 313.5 | 28.5 | 0.62 |
| Including | 304.5 | 313.5 | 9.0 | 1.13 | |||||
| Including | 309.0 | 313.5 | 4.5 | 1.46 | |||||
| PT-18-108 | 319.5 | 325.5 | 6.0 | 1.23 | |||||
| PT-18-109A | 375110 | 5895020 | 399.0 | 2.9 | -69 | 295.5 | 358.5 | 63.0 | 1.10 |
| Including | 300.0 | 315.0 | 15.0 | 3.08 | |||||
| Including | 304.5 | 309.0 | 4.5 | 5.31 | |||||
| Including | 304.5 | 310.5 | 6.0 | 4.81 | |||||
| PT-18-110 | 375053 | 5894981 | 432.0 | 359.5 | -64 | 343.5 | 354.0 | 10.5 | 1.78 |
| Including | 348.0 | 354.0 | 6.0 | 2.15 | |||||
| PT-18-111 | 375008 | 5894947 | 501.0 | 3.5 | -68 | 385.5 | 390.0 | 4.5 | 3.25 |
| PT-18-111 | 399.0 | 400.5 | 1.5 | 1.27 | |||||
| PT-18-111 | 415.5 | 418.5 | 3.0 | 2.42 | |||||
| PT-18-111 | 445.5 | 450.0 | 4.5 | 1.14 | |||||
| PT-18-112 | 375099 | 5894918 | 480.0 | 357.2 | -70 | 403.5 | 415.5 | 12.0 | 0.81 |
| PT-18-113 | 375162 | 5894871 | 472.5 | 357.9 | -68 | 406.5 | 445.5 | 39.0 | 0.69 |
| Including | 406.5 | 411.0 | 4.5 | 2.98 | |||||
| PT-18-113 | 444.0 | 445.5 | 1.5 | 3.40 | |||||
| PT-18-114 | 375357 | 5894964 | 362.0 | 2.0 | -64 | 286.5 | 309.0 | 22.5 | 1.00 |
| Including | 294.0 | 309.0 | 15.0 | 1.23 | |||||
| PT-18-115 | 375403 | 5894953 | 414.0 | 358.7 | -66 | 270.0 | 277.5 | 7.5 | 1.59 |
| PT-18-115 | 306.0 | 307.5 | 1.5 | 2.53 | |||||
| PT-18-115 | 412.5 | 414.0 | 1.5 | 3.16 | |||||
| PT-18-116 | 374962 | 5894910 | 485.0 | 352.7 | -66 | 423.1 | 438.0 | 14.9 | 3.89 |
| Including | 423.1 | 435.0 | 11.9 | 4.26 | |||||
| PT-18-117 | 375402 | 5895126 | 213.0 | 3.0 | -61 | 154.5 | 157.5 | 3.0 | 4.72 |
| PT-18-118 | 375244 | 5895185 | 174.0 | 2.0 | -55 | 103.5 | 135.0 | 31.5 | 3.22 |
| Including | 106.5 | 135.0 | 28.5 | 3.47 | |||||
| Including | 112.5 | 127.5 | 15.0 | 5.11 | |||||
| Including | 114.0 | 120.0 | 6.0 | 6.66 | |||||
| PT-18-119 | 375216 | 5895202 | 193.5 | 357.4 | -52 | 115.5 | 117.0 | 1.5 | 1.09 |
| PT-18-119 | 124.5 | 136.5 | 12.0 | 1.49 | |||||
| PT-18-119 | 142.5 | 151.5 | 9.0 | 1.34 | |||||
| PT-18-119 | 163.5 | 165.0 | 1.5 | 1.15 | |||||
| PT-18-120 | 375216 | 5895202 | 204.0 | 357.4 | -65 | 117.0 | 144.0 | 27.0 | 3.59 |
| Including | 118.5 | 133.5 | 15.0 | 5.06 | |||||
| Including | 118.5 | 129.0 | 10.5 | 6.12 | |||||
| PT-18-120 | 201.0 | 204.0 | 3.0 | 1.43 | |||||
| PT-18-121 | 375167 | 5895181 | 240.0 | 346.8 | -61 | 150.0 | 178.5 | 28.5 | 0.98 |
| Including | 150.0 | 156.0 | 6.0 | 2.05 | |||||
| PT-18-122 | 375088 | 5895144 | 279.0 | 2.0 | -64 | 217.5 | 235.5 | 18.0 | 2.05 |
| Including | 220.5 | 231.0 | 10.5 | 2.41 | |||||
| PT-18-123 | 375366 | 5895154 | 171.0 | 8.4 | -60 | 112.5 | 117.0 | 4.5 | 1.10 |
| PT-18-123 | 133.5 | 135.0 | 1.5 | 2.67 | |||||
| PT-18-124 | 375461 | 5895088 | 327.0 | 358.0 | -74 | 148.5 | 178.5 | 30.0 | 0.99 |
| Including | 148.5 | 156.0 | 7.5 | 1.45 | |||||
| Including | 169.5 | 178.5 | 9.0 | 1.57 | |||||
| PT-18-124 | 232.5 | 238.5 | 6.0 | 2.38 | |||||
| PT-18-125 | 375258 | 5894999 | 339.0 | 356.1 | -63 | 277.5 | 280.5 | 3.0 | 1.49 |
| PT-18-125 | 295.5 | 304.5 | 9.0 | 1.78 | |||||
| Including | 301.5 | 304.5 | 3.0 | 3.70 | |||||
| PT-18-125 | 316.5 | 319.5 | 3.0 | 1.40 | |||||
| PT-18-126 | 375307 | 5894971 | 354.0 | 358.4 | -64 | 289.5 | 309.0 | 19.5 | 2.17 |
| Including | 289.5 | 300.0 | 10.5 | 3.12 | |||||
| PT-18-126 | 333.0 | 336.0 | 3.0 | 2.15 | |||||
| PT-18-127 | 374910 | 5894910 | 512.1 | 353.3 | -69 | 467.2 | 512.1 | 44.9 | 0.59 |
| Including | 471.0 | 480.0 | 9.0 | 1.04 | |||||
| Including | 499.5 | 502.0 | 2.5 | 2.04 | |||||
1. True widths are estimated based on drill angle and interpreted geometry of mineralization and range from 70% to 95% of the drilled length.
2. All gold values are uncut.
Figure 1 – Plan view of the La Pointe area
Figure 2 – North-south cross section, looking east, of the La Pointe area
The technical committee comprised of members from Goldcorp Inc. (“Goldcorp”) and QPM has held recently its first meeting to review the 2018 results and will carry of a field visit shortly to plan and approve the next exploration and expansion drilling program at Sakami as well as benefit from Goldcorp’s technical expertise and knowledge.
The 2018 drilling program was designed based on the recommendations presented in the NI 43-101 technical report prepared by SGS Canada Inc. for Canada Strategic Metals Inc. (now and Matamec Explorations Inc. (now the Company) with a date of issue of November 24, 2017. The program was managed by Consul-Teck Exploration Minière Inc. of Val-d’Or, Quebec who supervised the program and logged and sampled the core.
About Quebec Precious Metals Corporation
QPM is a new gold explorer with a large land position in the highly-prospective Eeyou IstcheeJames 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, to advance rapidly to the mineral resource estimate stage.
Quality Assurance/Quality Control
Quality assurance and quality control procedures were 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 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.
Qualified Person
Jean-Sébastien Lavallée (OGQ #773), géo., Vice-President Exploration of the Company and a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content of this release.
For more information please contact:
Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca
Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca
Paradox Public Relations
Tel: 514 341-0408
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.
- May 05, 2021 Quebec Precious Metals Corporation closes second and final tranche of oversubscribed $3,228,000 private placement
- May 04, 2021 Quebec Precious Metals Corporation closes first tranche of $2,634,399 private placement
- April 21, 2021 Quebec Precious Metals upsizes private placement offering of common shares to $ 2.7 Million
- April 14, 2021 Quebec Precious Metals announces $1.5 million private placement of common shares
- March 04, 2021 Quebec Precious Metals announces start of drilling at Sakami and retains services of Hinge Markets Inc.
- February 22, 2021 Quebec Precious Metals issues deferred shares units and grants stock options
- February 01, 2021 Quebec Precious Metals receives payment of $1.125 M; Lomiko acquires 100 % of the La Loutre graphite project
- January 27, 2021 Quebec Precious Metals provides update on Sakami drilling and outlines plans for 2021
- January 26, 2021 Quebec Precious Metals appoints Richard Nieminen as Senior Exploration Manager
- January 20, 2021 Quebec Precious Metals obtains 4.06 g/t Au, 38.85 g/t Ag, 1.72 % Zn, 1.88 % Pb over 2.0 m from channel sampling on the Elmer East project
- January 13, 2021 Quebec Precious Metals receives payments of $300,000 from sales of non-core assets
- December 15, 2020 Quebec Precious Metals drilling returns High Grade at La Pointe Extension: 60.8 g/t Au over 0.3 m within 1.4 m at 15.01 g/t Au, initiates metallurgical testing
- December 10, 2020 Fjordland to acquire historic Renzy Nickel Copper project, Quebec; Quebec Precious Metals monetizes non-core asset
- November 24, 2020 Quebec Precious Metals intersects 42 m at 1.31 g/t Au, including 16.8 m at 1.95 g/t Au at La Pointe Extension