EDITOR: | July 22nd, 2020

Quebec Precious Metals Drills 1.14 g/t Au over 70.3 m at La Pointe Extension Discovery

| July 22, 2020 | No Comments
image_pdfimage_print

July 22, 2020 (Source) –

  • Assaying are pending from 10 drill holes (“DDH”) including 4 DDH at the La Pointe Extension
  • Highlights from the 2020 winter drilling program are:
    • 1.14 g/t Au over 70.30 m including 1.66 g/t Au over 36.90 m
    • 3.65 g/t Au over 4.10 m
    • 1.45 g/t Au over 35.40 m
    • 1.15 g/t Au over 80.10 m including 4.63 g/t Au over 5.95 m
    • 0.60 g/t Au over 51.60 m
    • 4.15 g/t Au over 3.50 m
  • 7,000 m summer diamond drilling program to commence in early August

Quebec Precious Metals Corporation (“QPM” or the “Company”) (TSXV:CJC)(OTCQB:CJCFF)(FSE:YXEP) is pleased to report additional drill results at the La Pointe Extension discovery following the 7,448 m winter diamond drilling program on the 100% owned Sakami Project (the “Project”) in Quebec’s Eeyou Istchee James Bay territory. A 7,000 m summer drilling campaign is scheduled to start in early August to better define the exploration potential of this discovery. Assaying is pending from 4 DDH completed at the La Pointe Extension.

Results recently received from winter drilling program continues to highlight gold mineralized system continuity and significant exploration potential to the SW of the La Pointe deposit (see Table 1 for complete results of the program).

Normand Champigny CEO of QPM, stated: “Our exploration activities carried out since the creation of the Company in 2018 have resulted in the La Pointe Extension discovery and a high rate of successful drilling results.”

The La Pointe deposit and new La Pointe Extension discovery are part of a larger 2- kilometre-long mineralized trend on the Project striking SSW-NNE (see Figures 1 and 2 and press releases of April 21June 18 and June 23, 2020). This discovery has potential kilometre-scale extensions that have been subject to very limited surface exploration and no drilling.

The drilling results indicate that gold-bearing mineralization at the La Pointe Extension discovery and La Pointe have a similar geological character: hosted within a volcano-sedimentary sequence of the Yasinski Group (La Grande Subprovince) which is metamorphosed to amphibolite facies and strongly deformed by a regional WSW to ENE event. This sequence is in contact with sedimentary rocks of the Laguiche Group (Opinaca Subprovince) to the east. The lithologies are composed mainly of: 1) biotite-rich and silicified paragneiss with intrusions of granodiorite, tonalite and pegmatite, and 2) amphibolite (metamorphosed sedimentary iron formation and mafic volcanic rock). The gold mineralization is accompanied by disseminated arsenopyrite, pyrite and pyrrhotite and cross-cutting quartz-carbonate veinlets.

The Project provides the Company with a controlling position over a 23-kilometre-long segment of a favourable geological contact and comprises of 259 claims (131.1 km2). It is located 570 km north of Val-d’Or, 120 km east of the municipality of Wemindji, 90 km from the Éléonore gold mine and 47 km northeast of the paved James Bay Road. Good infrastructure is present including major access roads, a hydro-power grid and airports. Drilling can be carried out throughout the year.

Quality Assurance/Quality Control

The drilling contract was awarded to Forage Val-d’Or Inc. based in Val d’Or, Quebec. The DDH diameter is NQW. Drilling took place from January 15 to March 24, 2020. Quality assurance and quality control procedures have been 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 to 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 Persons

Normand Champigny, Eng., Chief Executive Officer of the Company, and Jean-Sébastien Lavallée (OGQ #773), geologist, Vice-President Exploration, director and shareholder of the Company, 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 gold explorer with a large land position in the highly-prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’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
[email protected]

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
[email protected]

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.

Table 1: Sakami Project – Summary of significant gold results, La Pointe deposit and
La Pointe Extension and Simon area – Press release of July 22, 2020.

Notes:

  1. All widths are drill indicated core length.
  2. DDH are generally planned to intersect mineralization as close to perpendicular to strike as possible.
  3. True widths are estimated to range from 75% to 90% of the down-hole length when DDH inclination and dip of the mineralized horizons are considered.
  4. All gold values presented are not capped.

La Pointe Deposit and La Pointe Extension

Hole #

UTM E

UTM N

Length
(m)

Azimuth
(
°)

Dip
(
°)

Number of samples

From
(m)

To
(m)

Interval
(m)

Au
(g/t)

La Pointe Deposit
PT-20-138

375462

5895042

141

135

-50

94

No significant values

PT-20-139

375532

5895041

60

135

-50

59

36.50

40.00

3.50

4.15

PT-20-140

375496

5895077

174

135

-63

149

118.00

119.00

1.00

1.17

173.00

174.00

1.00

1.68

PT-20-141

375536

5895107

132

135

-54

109

54.00

65.00

11.00

1.04

Including

54.00

55.50

1.50

3.41

Including

62.30

65.00

2.70

1.66

79.40

80.50

1.10

1.13

105.00

106.00

1.00

1.23

PT-20-142

375496

5895008

60

135

-50

62

39.00

40.00

1.00

1.31

PT-20-143

375623

5895020

201

0

-50

183

83.00

84.00

1.00

1.99

PT-20-144

375602

5894893

276

330

-50

209

69.00

72.00

3.00

1.68

163.50

164.00

0.50

1.17

193.80

195.00

1.20

1.15

PT-20-145

375650

5894909

216

335

-50

182

22.10

26.10

4.00

1.31

45.30

96.90

51.60

0.60

Including

60.00

63.00

3.00

1.33

Including

72.50

79.00

6.50

2.14

PT-20-146

375695

5894940

270

0

-50

235

60.50

64.70

4.20

1.55

PT-20-147

375812

5894959

276

0

-50

214

22.00

29.00

7.00

2.69

125.90

137.00

11.10

0.31

Including

125.90

127.40

1.50

1.09

171.00

175.50

4.50

1.38

La Pointe Extension
PT-20-148

374470

5894276

345

145

-50

316

54.00

55.20

1.20

1.06

241.20

241.60

0.40

5.61

279.00

280.50

1.50

4.06

288.90

296.50

7.60

2.91

PT-20-149

374202

5894096

348

145

-50

280

241.45

242.15

0.70

2.19

252.50

253.20

0.70

5.06

PT-20-150

374263

5894016

270

143.4

-50.7

210

189.50

221.00

31.50

0.49

PT-20-151

373962

5893849

336

145

-50

300

231.90

312.00

80.10

1.15

Including

269.00

293.95

24.95

2.21

Including

288.00

293.95

5.95

4.63

PT-20-152

374632

5894963

729

27

-53

130

700.50

714.00

13.50

0.52

PT-20-153

374019

5893767

267

145

-50

222

152.10

187.50

35.40

1.45

Including

175.00

179.10

4.10

3.65

PT-20-154

374017

5893857

366

145

-50

296

74.80

81.60

6.80

2.74

Including

80.10

81.60

1.50

11.75

196.40

266.70

70.30

1.14

Including

196.40

233.30

36.90

1.66

PT-20-155

373935

5893799

294

145

-50

244

Assays pending

PT-20-156

373906

5893749

300

145

-50

278

Assays pending

PT-20-157

373865

5893720

378

145

-50

340

Assays pending

PT-20-158

373917

5893646

264

145

-50

227

Assays pending

Simon area

Hole ID

UTM E

UTM N

Length
(m)

Azimuth
)

Dip
)

Number of samples

From
(m)

To
(m)

Interval
(m)

Au
(g/t)

SI-20-06

376176

5897593

165

315

-60

148

7.50

11.50

4.00

0.37

23.60

31.50

7.90

0.30

48.00

105.30

57.30

0.52

including

48.00

66.00

18.00

0.90

including

84.50

105.30

20.80

0.57

SI-20-07

376442

5897352

150

330

-60

121

No significant values

SI-20-08

376232

5897427

126

135

-75

39

78.50

80.30

1.80

0.72

SI-20-09

376143

5897503

146.20

315

-50

124

30.50

31.60

1.10

1.31

SI-20-10

376338

5897569

150

315

-50

48

No significant values

SI-20-11

376555

5897372

159

315

-50

70

Assays pending

SI-20-12

376759

5897593

129

315

-75

48

Assays pending

SI-20-13

377064

5897440

201

315

-75

22

Assays pending

SI-20-14

377005

5897500

150

315

-50

24

Assays pending

SI-20-15

376934

5897308

150

315

-50

5

Assays pending

SI-20-16

376176

5897593

219

315

-72

150

Assays pending


InvestorIntel

Editor:

InvestorIntel.com is a leading online source of investor information that provides public market coverage for both investors and industry alike. A qualified online influencer through ... <Read more about InvestorIntel>


Copyright © 2020 InvestorIntel Corp. All rights reserved. More & Disclaimer »


Leave a Reply

Your email address will not be published. Required fields are marked *