Bullish on gold, Matt Bohlsen updates InvestorIntel readers on the Quebec Precious Metals Sakami and Elmer East Projects

Back in June 2020 when I last reviewed Quebec Precious Metals Corporation (TSXV: QPM | OTCQB: CJCFF) (‘QPM’) they had just made a good discovery at La Pointe Extension, which included 1.15 g/t Au over 80.1 m and a 2 km extension of the La Pointe deposit, all part of the Sakami Project. Since that time QPM has not only continued to make some good progress at Sakami but has also discovered more gold and some base metals at another nearby project in James Bay that they 100% own, known as Elmer East.

QPM holds a large land package of 1,100 km2 located in the new gold mining camp region of James Bay, Quebec, Canada. Their flagship project is the Sakami Project which allows for all year round drilling.

QPM’s James Bay Quebec projects include the Sakami Project, the Elmer East Project, the Cheechoo-Éléonore Trend Project, and the Blanche and Charles Project

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The Sakami Project – La Pointe and La Pointe Extension + Simon and JR deposits

Within the Sakami Project is the main mineralized zone known as La Pointe and La Pointe Extension.

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La Pointe drill results have shown some reasonable gold grades with good lengths, such as:

  • EX-10: 2.51 g/t Au over 54.65 m.
  • EX-19: 9.22 g/t Au over 12.55 m.
  • EX-22: 4.16 g/t Au over 21 m.
  • PT-13-67: 3.78 g/t Au over 27.95m.
  • PT-14-79: 2.51 g/t Au over 48.2m.
  • PT-16-91: 1.62 g/t Au over 64.5m.
  • PT-16-92: 2.52 g/t Au over 48.55m.
  • PT-18-118: 3.22 g/t Au over 31.5m.
  • PT-18-120: 3.59 g/t Au over 27m.

La Pointe Extension has had some very long length gold drill results in 2020 such as:

  • PT-20-151: 1.15 g/t Au over 80.1m.
  • PT-20-154: 1.14 g/t Au over 70.3m.
  • PT-20-155: 1.03 g/t Au over 53.8 m.

Having a long length gold drill result can have a bigger impact on the eventual resource size. In a September 2020 announcement QPM commented:

“The La Pointe deposit and the new La Pointe Extension discovery are part of a larger 2- kilometre-long mineralized trend on the Project striking SSW-NNE…..This discovery has potential kilometre-scale extensions that have been subject to very limited surface exploration and no drilling. Two high-grade surface grab samples (23.82 g/t Au, 9.52 g/t Au) located 700m apart further illustrate the potential of this discovery….The ongoing 7,000m diamond drilling campaign will aim to expand the 300m strike length of the La Pointe Extension identified during the winter campaign.”

The Simon deposit is located 3km NE of the La Pointe deposit and has a similar geological setting to the La Pointe and La Pointe Extension. 2020 drill results included 0.73 g/t Au over 54m from 54m depth in hole SI-20-16 and 0.52 g/t Au over 57.3 m in hole SI-20-06.

The Elmer East Project (Lloyd discovery)

At Elmer East, results received from the 2020 summer surface sampling program confirmed a new gold and base metals mineralized system with several new high-grade grab samples. A total of 9 grab samples were taken from the vein, returning gold values ranging from 0.42 g/t Au to 17.75 g/t Au with an average 5.41 g/t Au. Silver values averaged 29.2 g/t Ag. Anomalous copper, zinc and lead values were also observed with zinc values up to 7.99% Zn.

Additional work including channel sampling will be carried out in the fall to better assess the exploration potential of this discovery.

The Elmer East Project – 2020 gold and base metals discovery

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QPM continues to discover both precious metals and some base metals on their very large land package in James Bay Canada, notably at their two most active projects – Sakami and Elmer East. Looking ahead to 2021 QPM plan to complete their 25,000m drill program at Sakami and other targets, with a goal to have a Sakami resource estimate by end Q2, 2021.

Quebec Precious Metals trades on a market cap of just C$15m and is well backed by Newmont Corporation owning a 15.6% equity share, Quebec institutions owning 12.9%, and QPM management and board owning 5.0%.

Disclosure: Matt Bohlsen owns shares of  Quebec Precious Metals Corporation (TSXV: QPM) at the time of publication of this column.




Drolet Stock Notes on Osisko Mining: Largest Gold exploration drill program on the planet

Mario Drolet, President of MI3 Communications Financières Inc. (MI3), released his Drolet Stock Notes on Osisko Mining Inc. (TSX: OSK) on October 22, 2020 for exclusive distribution on InvestorIntel. Highlights include:

  • Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).
  • Windfall is a rare world-class project (>5M oz and >8g/t Au) located in one of the world’s best mining jurisdictions: Québec.
  • Well financed with approx. $320M cash and equities.
  • OSK has drilled over 1.2 Million meters on the Windfall lake project (consider to be the largest exploration gold project on the planet!!!)
  • Support: S2; $ 3.51   S1; $3.57   Resistance:   R1; $3.62    R2; $3.83

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres ).

PLEASE DO YOUR DUE DILIGENCE

Disclaimer: This Mario Drolet Stock Notes are produced by MI³ Communications Financières is neither an offer to sell, nor the solicitation of an offer to buy any of the securities discussed therein. The information contained is prepared by MI3, emanating from sources deemed to be reliable. MI3 Communications Financières makes no representations or warranties with respect to the accuracy, correctness or completeness of such information. MI³ Communications Financières accepts no liability whatsoever for any loss arising from the use of the information contained therein. Please take note that for compliance purposes, all directors, consultants or employees of MI3 Communications Financières are prohibited from trading the securities of the company and MI3 Communications Financières is a shareholder and do not intend to sell any shares during the distribution of this report.




Drolet Stock Notes on Azimut Exploration: Is this the birth of a new gold mining camp in Quebec?

Mario Drolet, President of MI3 Communications Financières Inc. (MI3), released his Drolet Stock Notes on Azimut Exploration Inc. (“Azimut”) (TSXV: AZM)  on October 1, 2020 for exclusive distribution on InvestorIntel. Highlights include:

  • Azimut expands the Elmer Gold Discovery in the James Bay Region, Quebec;
  • Drill results to date confirm a significant and consistent gold-bearing mineralized system, including a high-grade component in most holes;
  • Best intersects: (3.15 g/t Au over 102 meters incl. 10.1 g/t Au over 20.5 meters), (2.77 g/t Au over 90.2 meters incl. 23.26 g/t Au over 5.85 meters), (1.15 g/t Au over 129 meters), (2.84 g/t Au over 108.2 meters), (1.93 g/t Au over 82 meters incl. 3.46 g/t Au over 44.1 meters), (2.61 g/t Au over 72.15 meters incl. 29.24 g/t Au over 4.95 meters);
  • Over thirteen holes with metal factor superior of 100 (one drill hole with 300 plus metal factor);
  • Very high drilling success rate including frequent high grades (from 5 g/t Au up to 254 g/t Au);
  • Launch a 11,388 meters campaign with 61 holes … awaiting on 23 drill holes;
  • Initial 43-101 resources report should be in the range of 1 Million ounces … (to be confirmed);
  • Azimut announced a $6,000,000 Private Placement at $1.80 per share (hard cash);
  • OVERSOLD (RSI:31) … $70 Million market cap … very tight share structure;
  • Support: S2; $ 0.95 S1; $1.05   Resistance:   R1; $1.13    R2; $1.27;

About Azimut Exploration Inc.

Azimut is a mineral exploration company whose core business is centred on target generation and partnership development. The Company uses a pioneering approach to big data analytics (the proprietary AZtechMineTM expert system) enhanced by extensive exploration know-how. Azimut maintains rigorous financial discipline and has 69.1 million shares outstanding. Azimut’s competitive edge against exploration risk is founded on systematic regional-scale data analysis and multiple concurrently active projects.

PLEASE DO YOUR DUE DILIGENCE

Disclaimer: This Mario Drolet Stock Notes are produced by MI³ Communications Financières is neither an offer to sell, nor the solicitation of an offer to buy any of the securities discussed therein. The information contained is prepared by MI3, emanating from sources deemed to be reliable. MI3 Communications Financières makes no representations or warranties with respect to the accuracy, correctness or completeness of such information. MI³ Communications Financières accepts no liability whatsoever for any loss arising from the use of the information contained therein. Please take note that for compliance purposes, all directors, consultants or employees of MI3 Communications Financières are prohibited from trading the securities of the company and MI3 Communications Financières is a shareholder and do not intend to sell any shares during the distribution of this report.




West Red Lake Gold Mines reports high grade gold intercepts at depth and extends strike

The recent gold price pull back has many investors looking for opportunities before the next possible U.S. COVID-19 stimulus package is announced. The last time the U.S. government announced a stimulus package the price of gold reacted dramatically. Even if the U.S. House of Representatives rises next month without passing a last-minute pre-election stimulus package, uncertainty is gold’s friend, and traditionally gold and gold companies do well in uncertain times.

Gold price – 1 year price chart – Currently US$1,863 per ounce

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One junior gold exploration company that has continued to work through Covid and advance their project is West Red Lake Gold Mines Inc. (CSE: RLG | OTCQB: RLGMF | FSE: HYK) (‘West Red Lake’), which is focused on gold exploration and development in the prolific Red Lake Gold District of northwest Ontario, Canada. The Red Lake Gold District is host to some of the richest gold deposits in the world.

On September 24, West Red Lake announced further high grade drill results including 5.91g/t gold over 6.0 meters. Results from the latest news from drilling at their Rowan Mine NT Zone included:

  • 7.92 gpt Au over 3.0 m, including 14.71 gpt over 1.50 m
  • 3.41 gpt Au over 13.5 m, including 5.91 gpt over 6.0 m
  • 3.96 gpt Au over 4.50 m, including 7.31 gpt over 1.50 m
  • 7.34 gpt Au over 1.50 m
  • 2.76 gpt Au over 4.50 m
  • 1.92 gpt Au over 6.0 m, including 4.67 gpt over 1.50 m
  • 1.68 gpt Au over 9.0 m

The recent drilling confirmed the gold potential of the known mineralization and extended the mineralization to depth and 200 m further along strike to the northeast from the previous drill program reported in January. The company also reports that results indicate the presence of several parallel gold zones within the 100 m wide NT Zone structure and alteration halo.

President of West Red Lake Gold, Mr. John Kontak, said that the company is “very pleased that the drilling has further expanded the NT Zone gold mineralization to depth and along strike. The exploration work serves to demonstrate that significant exploration potential exists on this regional scale gold-bearing geological structure which is well situated in the Red Lake Gold Camp.”

West Red Lake has a 3,100 hectare property with a 12 km strike length that contains three former gold mines. In total they have an NI 43-101 reported 1.087 million inferred ounces of high grade gold (7.57 gpt) open at depth. This inferred resource on the Rowan Mine Property, which is held as a JV between Evolution Mining (36% partner) and West Red Lake Gold Mines (64% partner/operator). The NT Zone is located approximately 800 meters south-east of the Rowan Mine gold deposit and is part of the Rowan Mine Property JV.

West Red Lake Gold Mines’ 3 main projects and tenements (shown in red)

 

Future exploration drilling on the property is planned to follow NT Zone gold mineralization to greater depth below the positive drill results and also continue exploration drilling further along strike to the northeast with the intention of expanding the mineralization down and out.

The Red Lake Gold District is known for significant high grade gold

The Red Lake, Ontario, Canada, district has produced 30 million ounces of high grade gold, and the nearby Evolution Mining mines (Campbell and Red Lake Mines) have produced 18 million gold ounces.

Ontario has one of Canada’s most prolific mining districts known for gold

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It is becoming quite unusual these days to find a high grade gold junior miner with 696,000 attributable gold ounces that trades at a market cap as low as C$22m (~US$16.5m). The resource is still in the inferred category, but it is based on a February 2016 NI 43-101 estimate, which has not been updated to take into account the past several years of successful drill results.




Peter Clausi on CBLT’s sale of Northshore Gold for $1.5 million cash and shares

InvestorIntel’s Tracy Weslosky speaks with Peter Clausi, President, CEO and Director of CBLT Inc. (TSXV: CBLT) about the sale of CBLT’s Northshore Gold Property to Omni Commerce where CBLT ended up being the largest shareholders in Omni. “CBLT purchased a portfolio of four mining assets two years ago,” Peter said. “Paid roughly a million dollars for it. We just sold one of those assets for $1.5 million.”

“We do mineral exploration, but we also do opportunistic M&A,” Peter added. “Any property that is good enough to buy is good enough to sell if you can make profit for the shareholders.” He added, “We have been buying properties inexpensively and then selling them to bidders who could not get their hands on the properties in the first place, and making significant profit for the shareholders.” He continued, “In 2016-17 we generated over a million dollars in revenue for the shareholders against acquisition cost of about a $160,000.”

To watch the complete interview, click here

Disclaimer: CBLT Inc. is an advertorial member of InvestorIntel Corp.




Stephen Burega on Angkor Resources’ recent high-grade gold sample results

InvestorIntel’s Tracy Weslosky speaks with Stephen Burega, CEO of Angkor Resources Corp. (TSXV: ANK), about their recent high-grade gold sample results from their Andong Meas property, and a corporate update.

In an InvestorIntel interview that can also be viewed on our InvestorIntel YouTube channel, Tracy and Stephen discussed the recent high grade results with up to 70.7 g/t gold from selected samples from the Andong Meas property. “Andong Meas is actually known in the Khmer language as well of gold,” Stephen said. They also discussed reclaiming control of the Peacock Gold Project and the Koan Nheak License, an update on the status of Angkor’s oil block, and the addition of new independent board members by Angkor.

To watch this interview, click here

To learn more about Angkor Resources Corp., click here

Disclaimer: Angkor Resources Corp. is an advertorial member of InvestorIntel Corp.




Normand Champigny talks about Quebec Precious Metals gold system discovery

InvestorIntel’s Tracy Weslosky speaks with Normand Champigny, CEO and Director of Quebec Precious Metals Corporation (TSXV: QPM | OTCQB: CJCFF) (QPM), about the discovery from surface sampling of a new gold and base metals system at Elmer East with grabs up to 17.75 g/t Au. “We believe this result is the second-best result in the area.” Normand said. “It is a result of hard work to identify new targets…all very exciting news in another part of James Bay which again shows the promise of James Bay for gold exploration.”

Speaking about the competitive advantages of QPM in response to this question, Normand said, “We have created a company which has very good shareholder base with Newmont, one of the largest gold companies in the world, as our key shareholder.” He continued. “We have a team that has been working in the area for many years. We have good infrastructure with powerlines and roads. We can drill 12 months of the year and we have significant ground in the area.”

Normand also provided an update on the drill results from the La Pointe Extension discovery and a near surface discovery at Simon area on the 100% owned Sakami Project. “La Pointe is a deposit with multi-million ounce potential.” Normand said. “Our goal is to demonstrate a potential of 2 million ounces of gold.”

To watch the complete interview, click here

Disclaimer: Quebec Precious Metals Corporation is an advertorial member of InvestorIntel Corp.