Mining

Quebec Precious Metals Drills 1.45 g/t Au over 35.4 m at La Pointe Extension Discovery

qpmImg106182020
  • Results received from winter drilling program further underline gold mineralized system continuity and significant exploration potential to the SW of the La Pointe deposit
  • Additional drill results received recently from the winter drilling campaign include (see Table 1 for the complete results of the campaign):
    PT-20-153: 1.45 g/t Au over 35.5 m incl. 4.1 g/t Au over 3.65 m
    PT-20-154: 6.80 g/t Au over 2.74 m incl. 11.75 g/t Au over 1.5 m
  • Field logging and assaying are pending from 11 drill holes (“DDH”) completed

MONTREAL, QC / ACCESSWIRE / June 18, 2020 / 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 winter diamond drilling program on the 100% owned Sakami Project (the “Project”) in Quebec’s Eeyou Istchee James Bay territory. Significant additional drilling will be carried out this summer and fall to better define the exploration potential of this discovery. Field logging and assaying are pending from 5 DDH completed at the La Pointe Extension.

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 to 6). 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 700 m apart illustrate the potential of this area (see Figure 4).

The objective of the winter 7,448 m oriented-core drill program (see press release of April 21, 2020) was to expand the La Pointe deposit and the Simon new high-grade discovery.

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 Simon area is located 3 km NE of the La Pointe deposit and has a similar geological setting to the La Pointe and La Pointe Extension. Highlights of the drill results include 0.90 g/t Au over 18.0 metres. The drill results will be evaluated to identify additional drill targets to be tested. Field logging and assaying are pending from 6 DDH completed (see Figures 7 to 9).

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
jfmeilleur@qpmcorp.ca

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

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 June 18, 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

PT-20-155

373935

5893799

294

145

-50

244

Logging and assays pending

PT-20-156

373906

5893749

300

145

-50

To confirm

Logging and assays pending

PT-20-157

373865

5893720

378

145

-50

To confirm

Logging and assays pending

PT-20-158

373917

5893646

264

145

-50

To confirm

Logging and assays pending

*Logging and assays pending for part of the DDH

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

NSV

     

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

Logging and assays pending

SI-20-12

376759

5897593

129

315

-75

48

Logging and assays pending

SI-20-13

377064

5897440

201

315

-75

22

Logging and assays pending

SI-20-14

377005

5897500

150

315

-50

24

Logging and assays pending

SI-20-15

376934

5897308

150

315

-50

5

Logging and assays pending

SI-20-16

376176

5897593

219

315

-72

To confirm

Logging and assays pending

SOURCE: Quebec Precious Metals Corporation

View source version on accesswire.com:
https://www.accesswire.com/594360/Quebec-Precious-Metals-Drills-145-gt-Au-over-354-m-at-La-Pointe-Extension-Discovery

Source: miningstockeducation.com

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