Location and description
The Sakami project consists of a block of 281 contiguous mineral claims (142.5 km2) in the centre of the Sakami Reservoir. QPM owns 100% of the project. The project is subject to a Net Smelter Return (“NSR”) of 1% on certain claims and a NSR of 2% on 81 claims, half of which can be bought back for $1,000,000. It is located in the James Bay gold mining camp where the Éléonore gold mine is operated by Newmont Corporation, the world’s largest gold mining company.
The project forms a district-scale land package hosting a highly prospective 23 km long contact between the La Grande and the Opinaca geological sub-provinces with multi-million ounces potential. It is located near the major La Grande hydroelectric power generation complex and year-round access to carry out exploration. Access to the project is provided from the James Bay paved road and a 47-km long winter road. The existing camp facilities are used to conduct exploration all year-round.NI 43-101 Technical Report for the Sakami Property
Sakami DrillHole Assays
Sakami DrillHole Composites Assays
Sakami DrillHole Header Info
Geology and mineralization
The project is located within the central part of the Superior Geological Province, which comprises four Sub-provinces: from north to south they are the La Grande, Opinaca, Nemiscau and Opatica. The project straddles the contact of the Opinaca and La Grande sub-provinces: the regional exploration guideline that led to the discovery of the Éléonore gold mine in 2004, and the discovery of gold deposits and showings in the region.
The project is hosted within a volcano-sedimentary sequence of the Yasinski Group (La Grande Subprovince), which is metamorphosed to amphibolite facies and is strongly deformed by a regional west-southwest to east-northeast event in contact with sedimentary rocks of the Laguiche Group (Opinaca Subprovince) to the east. Airborne magnetic surveys data interpretations show a clear alignment between the gold showings and the La Grande and Opinaca contact and structures sub-parallel to the contact.
The focus of recent work has been the La Pointe-La Pointe Extension, Île, JR, Péninsule and Simon areas where gold occurrences have been identified over the northern 13-km portion of the project.
Most of the recent drilling has focused on the La Pointe-La Pointe Extension areas in which gold occurs at the subprovinces contact in association with structural deformation. At La Pointe the gold mineralization has a drilled strike length of 950 m whereas at La Pointe Extension the mineralization extends over a 2,500 m strike length.
The main lithologies are:
- biotite-rich and silicified paragneiss with intrusions of granodiorite, tonalite and pegmatite; and
- amphibolite (metamorphosed sedimentary iron formation and mafic volcanic rock).
Gold is accompanied by disseminated arsenopyrite, pyrite and pyrrhotite and cross-cutting quartz-carbonate veinlets.
Historical exploration work
Exploration work has taken in the area place since the late 1950’s. In 1998 Matamec Explorations Inc. initially acquired claims in the Sakami Reservoir area and mineralized zones were discovered on the western shore of the Sakami Reservoir. In 2013 Canada Strategic Metals (now Quebec Precious Metals Corporation) started to drill on the La Pointe area and obtained significant gold intersections. The work to date has resulted in:
- Identifying a 23-km gold-bearing contact between volcano-sedimentary (La Grande geological sub-province) & sedimentary (Opinaca geological sub-province) rocks supported by airborne magnetic surveys data interpretation.
- Discovering through prospecting along the contact of significant showings over 13 km at La Pointe/La Pointe Extension, Île, JR, Péninsule and Simon areas.
- At La Pointe, defining a 6,000 m long by 400 m wide area prospective trend with multiple soil anomalies for Au with associated As.
- Delineating drill targets with induced polarization surveys that coincide with soil anomalies and surface showings.
- Diamond drilling at La Pointe/La Pointe Extension 45,301 m (142 holes), Simon 3,146 m (20 holes), and JR 2,257 m (19 holes).
- Intersecting grades at the La Pointe deposit with a 950 m strike length, 450 m depth with a core of +80 true thickness x g/t Au, and at the La Pointe Extension, 1,100 m strike length, 300 m depth with core of +80 true thickness x g/t Au.
- Focusing since 2018 on the La Pointe deposit and the La Pointe Extension discovery.
La Pointe Deposit
A total of 117 diamond drill holes have intercepted the deposit on 35,475 m of drilling. The thickness of mineralization ranges from 20 to 50 m, and up to 40 m thick. The deposit is defined over a 950 m strike length and 600 m down-plunge.
When plotted on longitudinal sections, metal factors (grade x thickness values) clearly show richer cores of mineralized material trending to the east and west, and open at depth. To the west an interpreted fault that shifts the mineralization has been identified. The 2021 drilling program currently underway has been designed to expanding the deposit across the fault laterally and at depth.
|La Pointe Deposit|
|EX-10: 2.51 g/t Au over 54.65 m incl. 3.52 g/t Au over 14 m|
|EX-19: 9.22 g/t Au over 12.55 m incl. 11.82 g/t Au over 8.45 m|
|EX-22: 4.16 g/t Au over 21 m incl. 6.4 g/t Au over 12.67 m|
|PT-13-67: 3.78 g/t Au over 27.95 m incl. 4.01 g/t Au over 22.6 m|
|PT-14-79: 2.51 g/t Au over 48.2 m incl. 6.93 g/t Au over 12 m|
|PT-16-91: 1.62 g/t Au over 64.5 m incl. 2.21 g/t Au over 43.3 m|
|PT-16-92: 2.52 g/t Au over 48.55 m incl. 4.94 g/t Au over 21.05 m|
|PT-18-118: 3.22 g/t Au over 31.5 m incl. 3.47 g/t Au over 28.5 m|
|PT-18-120: 3.59 g/t Au over 27 m incl. 5.06 g/t Au over 15 m|
La Pointe Extension Discovery in 2020
During the 2020 winter drilling campaign, the discovery of the La Pointe Extension was made while investigating strong gold and arsenic soil geochemical anomalies and high-grade mineralized samples taken from outcrops. Following the discovery, an induced polarization survey conducted to evaluate the potential size of the zone. The survey extended the zone of interest 800 m to the northwest delineating a 2 km-long anomaly with an interpreted parallel structure.
Longitudinal sections of metal factors indicate a concentration of gold along a 2,500 m-long mineralized trend that connects with the La Pointe deposit to the northeast, and open at depth. The 2021 drilling program currently underway aims to discover new areas of mineralization along this major trend.
|La Pointe Extension|
|PT-20-151: 1.15 g/t Au over 80.1 m incl. 2.21 g/t Au over 24.85 m|
|PT-20-153: 1.45 g/t Au over 35.4 m and 3.65 g/t Au over 4.1 m|
|PT-20-154: 1.14 g/t Au over 70.3 m and 2.74 g/t Au over 6.8 m|
|PT-20-155: 1.03 g/t Au over 53.8 m incl. 27.3 g/t Au over 0.29 m|
|PT-20-159: 0.93 g/t Au over 101.0 m incl. 1.1 g/t Au over 80 m|
|PT-20-162: 1.31 g/t Au over 42.0 m incl. 1.95 g/t Au over 16.8 m|
|PT-20-173: 0.60 g/t Au over 15.0 m and 60.8 g/t Au over 0.30 m|