- Detailed lithium targeting completed by ALS GoldSpot Discoveries Ltd.
- High priority target areas totaling 125 km2 identified with pegmatite rocks on all projects.
- Follow up field program to sample pegmatites on high priority targets.
- Target areas are highly prospective for lithium and are located near advanced projects and recent significant lithium discoveries.
High priority lithium targets have been identified following a detailed lithium targeting study on all exploration projects.
Target areas sampling aims to demonstrate the lithium potential of QPM’s projects in a district that has some of the largest spodumene pegmatite resources in the world.
Exposure to Lithium
- In 2022, Champion Electric Metals (CSE:ITKO) acquired 100% of the Blanche and Charles lithium pegmatite prospects in the Eeyou Istchee James Bay territory of Quebec from QPM.
- In return, QPM obtained 12,000,000 common shares of champion electric, of which 50% is subject to escrow until April 2024.
- QPM will retain a 2% net smelter return royalty (NSR) on the claims constituting the prospects.
- QPM working in close collaboration with Champion Electric.
- Champion Electric Metals’ work confirmed that the project contains favorable host rock and geotectonic setting-comparable to neighboring Corvette and Cancet lithium-bearing pegmatite deposits discovered by Patriot Battery Metals.
- Identified at least 190 known pegmatite outcrops have never been analyzed for lithium.