•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
Montreal, July 22, 2020 – Quebec Precious Metals Corporation (“QPM” or the “Company”) (TSX.V: 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 21, June 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.
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.
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