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Quebec Precious Metals Provides Update on Sakami drilling and Outlines Plans for 2021
DGAP-News: Quebec Precious Metals Corporation / Key word(s): Drilling Result
Quebec Precious Metals Provides Update on Sakami drilling and Outlines Plans for 2021
MONTREAL, QC / ACCESSWIRE / January 27, 2021 / Quebec Precious Metals Corporation ("QPM" or the "Company") (TSXV:QPM)(OTCQB:CJCFF)(FSE:YXEP) is pleased to provide an update on the drilling program on its Sakami Project (the "Project") in Quebec's Eeyou Istchee James Bay territory and an outline of its exploration plans for 2021. Normand Champigny, CEO of QPM, stated: "2020 was a very significant year for QPM with the discovery of the La Pointe Extension which redefines the Sakami Project. With drills turning again at Sakami, we expect to discover new areas of mineralization both along strike and at depth along the La Pointe deposit trend. This work will assist us in our goal of the preparation of a maiden resource estimate. In addition, our new Lloyd surface discovery on the Elmer East project, illustratres the high exploration potential of the James Bay gold camp. We plan to advance our entire project portfolio this year. Of critical importance in these challenging times is to continue to apply a rigorous COVID protocol to protect the health of our employees, contractors and communities. We hope for a gradual return to normalcy during the course of this year." Sakami Project (Table 1, Figures 1 to 5)
La Pointe Extension PT-20-173 - 0.30 m at 60.80 g/t Au PT-20-162 - 42.0 m at 1.31 g/t Au PT-20-159 - 80.0 m at 1.10 g/t Au PT-20-155 - 53.8 m at 1.03 g/t Au PT-20-154 - 70.3 m at 1.14 g/t Au PT-20-153 - 35.4 m at 1.45 g/t Au PT-20-151 - 80.1 m at 1.15 g/t Au PT-20-148 - 7.6 m at 2.91 g/t Au La Pointe PT-20-147 - 7.0 m at 2.69 g/t Au PT-20-145 - 4.0 m at 1.31 g/t Au PT-20-141 - 11.0 m at 1.04 g/t Au PT-20-139 - 3.5 m at 4.15 g/t Au Table 1 presents the results of the 2020 drilling and Figures 1 to 5 show:
The drilling results indicate to date that gold-bearing mineralization at the La Pointe Extension discovery and at La Pointe has a similar geological character: 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 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 259 claims (131.1 km2). It is located 570 km north of Val d'Or, Quebec, 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-powered electric grid and airports. Drilling can be carried out throughout the year. Elmer East project (see press release of January 20, 2021)
Channel R9 - 1.77 g/t Au, 12.3 g/t Ag, 0.30 % Zn, 0.78 % Pb over 1.0 m Channel R8 - 1.73 g/t Au, 10.3 g/t Ag, 1.00 % Zn, 0.49 % Pb over 1.0 m Channel R7 - 1.18 g/t Au, 10.2 g/t Ag, 0.52 % Zn, 0.71 % Pb over 1.0 m Channel R3 - 0.96 g/t Au, 19.5 g/t Ag, 1.66 % Zn, 0.51 % Pb over 2.0 m The Lloyd discovery consists of a 1 to 2 m wide SW-NE shallow dipping oxidized quartz vein with various amounts of sulphides (galena, sphalerite and chalcopyrite). Mineralization is hosted in an extensional vein in a weakly chloritized wacke and paragneiss near the contact with a polygenic conglomerate of the Wabamisk formation. The Elmer East project consists of 929 claims (488 km2). 2021 Exploration Plans Winter and summer
For the Sakami project, the drilling contract was awarded to Forage Val-d'Or Inc. based in Val-d'Or, Quebec. The hole diameter is NQW. 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 Person Normand Champigny, Eng., Chief Executive Officer of the Company, Qualified Person under NI 43- 101 on standards of disclosure for mineral projects, has 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 the 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 2020 significant drill results
Notes:
- All widths are drill indicated core length.
- Drilholes are generally planned to intersect mineralization as close to perpendicular to strike as possible.
- True widths are estimated to range from 75% to 90% of the down-hole length when drillhole inclination and dip of the mineralized horizons are considered.
- All gold values presented are not capped.
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 | ||||||||||||
PT-20-152 | 374632 | 5894963 | 729 | 27 | -53 | 130 | 700.50 | 714.00 | 13.50 | 0.52 | |||||
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 | ||||||||||||
287.00 | 333.00 | 46.00 | 0.25 | ||||||||||||
PT-20-150 | 374263 | 5894016 | 270 | 145 | -50 | 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-20-153 | 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 | 225.10 | 278.90 | 53.80 | 1.03 | |||||
PT-20-156 | 373906 | 5893749 | 303 | 145 | -50 | 278 | 220.70 | 248.00 | 27.30 | 0.29 | |||||
PT-20-157 | 373865 | 5893720 | 375 | 145 | -50 | 340 | 216.90 | 258.00 | 41.10 | 0.47 | |||||
333.05 | 354.00 | 20.95 | 0.39 | ||||||||||||
PT-20-158 | 373917 | 5893646 | 264 | 145 | -50 | 227 | 151.00 | 175.50 | 24.50 | 0.52 | |||||
227.30 | 235.90 | 8.60 | 0.46 | ||||||||||||
PT-20-159 | 373962 | 5893849 | 429 | 145 | -50 | 342 | 291.00 | 392.00 | 101.00 | 0.93 | |||||
Including | 291.00 | 371.00 | 80.00 | 1.10 | |||||||||||
Including | 303.50 | 371.00 | 67.50 | 1.21 | |||||||||||
PT-20-160 | 373963 | 5893671 | 219 | 145 | -50 | 213 | 148.00 | 165.00 | 17.00 | 0.28 | |||||
Including | 148.00 | 161.00 | 13.00 | 0.31 | |||||||||||
PT-20-161 | 373995 | 5893714 | 207 | 145 | -50 | 166 | 84.80 | 88.60 | 3.80 | 0.67 | |||||
135.50 | 166.50 | 31.00 | 0.62 | ||||||||||||
PT-20-162 | 374079 | 5893773 | 208.5 | 145 | -47 | 200 | 98.00 | 99.00 | 1.00 | 5.11 | |||||
124.00 | 166.00 | 42.00 | 1.31 | ||||||||||||
Including | 133.70 | 150.50 | 16.80 | 1.95 | |||||||||||
182.40 | 187.80 | 5.40 | 0.97 | ||||||||||||
PT-20-163 | 374160 | 5893827 | 189 | 145 | -50 | 111 | 95.30 | 163.80 | 68.50 | 0.70 | |||||
Including | 119.60 | 136.50 | 16.90 | 0.78 | |||||||||||
Including | 153.40 | 163.80 | 10.40 | 1.85 | |||||||||||
Including | 160.30 | 161.40 | 1.10 | 10.30 | |||||||||||
PT-20-164 | 374160 | 5893827 | 249 | 145 | -47 | 181 | 60.40 | 66.40 | 6.00 | 1.34 | |||||
Including | 60.40 | 61.00 | 0.60 | 10.60 | |||||||||||
91.60 | 94.20 | 2.60 | 2.94 | ||||||||||||
108.20 | 172.70 | 64.50 | 0.62 | ||||||||||||
Including | 139.00 | 153.50 | 14.50 | 1.32 | |||||||||||
190.00 | 194.20 | 4.20 | 0.49 | ||||||||||||
PT-20-165 | 374117 | 5893902 | 363 | 145 | -70 | 190 | 40.50 | 43.00 | 2.50 | 0.93 | |||||
229.30 | 230.80 | 1.50 | 3.52 | ||||||||||||
237.00 | 240.00 | 3.00 | 1.04 | ||||||||||||
244.50 | 252.80 | 8.30 | 0.92 | ||||||||||||
267.00 | 270.00 | 3.00 | 0.33 | ||||||||||||
303.00 | 307.50 | 4.50 | 1.14 | ||||||||||||
PT-20-166 | 374239 | 5893899 | 234 | 145 | -47 | 172 | 34.50 | 36.00 | 1.50 | 2.92 | |||||
90.00 | 97.20 | 7.20 | 1.92 | ||||||||||||
111.50 | 132.50 | 21.00 | 0.61 | ||||||||||||
123.50 | 132.50 | 9.00 | 1.11 | ||||||||||||
PT-20-167 | 374239 | 5893899 | 312 | 145 | -70 | 216 | 28.90 | 30.40 | 1.50 | 1.17 | |||||
50.50 | 51.80 | 1.30 | 1.01 | ||||||||||||
117.00 | 164.80 | 47.80 | 0.53 | ||||||||||||
PT-20-168 | 374592 | 5894282 | 306 | 145 | -57 | 275 | 46.90 | 47.60 | 0.70 | 2.77 | |||||
103.60 | 116.15 | 12.55 | 0.44 | ||||||||||||
182.00 | 194.00 | 12.00 | 1.03 | ||||||||||||
Including | 182.00 | 190.00 | 8.00 | 1.44 | |||||||||||
PT-20-169 | 374619 | 5894235 | 264 | 145 | -45 | 167 | 139.80 | 178.00 | 38.20 | 0.60 | |||||
PT-20-170 | 374540 | 5894163 | 234 | 145 | -47 | 206 | 31.50 | 39.00 | 7.50 | 0.35 | |||||
112.00 | 126.00 | 14.00 | 0.68 | ||||||||||||
including | 113.00 | 115.00 | 2.00 | 2.22 | |||||||||||
147.00 | 184.50 | 37.50 | 0.82 | ||||||||||||
including | 164.00 | 165.00 | 1.00 | 8.56 | |||||||||||
PT-20-171 | 374464 | 5894106 | 225 | 145 | -47 | 152 | 67.10 | 69.70 | 2.60 | 1.20 | |||||
including | 68.60 | 69.70 | 1.10 | 2.17 | |||||||||||
109.50 | 115.50 | 6.00 | 1.07 | ||||||||||||
143.50 | 179.30 | 35.80 | 0.32 | ||||||||||||
PT-20-172 | 374464 | 5894106 | 291 | 145 | -65 | 200 | 86.50 | 94.50 | 8.00 | 0.55 | |||||
109.50 | 112.50 | 3.00 | 1.17 | ||||||||||||
221.50 | 232.00 | 10.50 | 0.42 | ||||||||||||
242.50 | 250.00 | 7.50 | 0.70 | ||||||||||||
PT-20-173 | 374369 | 5894068 | 288 | 145 | -47 | 221 | 41.20 | 42.60 | 1.40 | 15.01 | |||||
including | 41.60 | 41.90 | 0.30 | 60.80 | |||||||||||
175.50 | 190.50 | 15.00 | 0.60 | ||||||||||||
including | 183.00 | 190.50 | 7.50 | 0.93 | |||||||||||
PT-20-174 | 374369 | 5894068 | 348 | 145 | -65 | 270 | 187.50 | 200.80 | 13.30 | 1.13 | |||||
106.50 | 108.00 | 1.50 | 1.01 | ||||||||||||
121.10 | 122.40 | 1.30 | 1.23 | ||||||||||||
171.00 | 172.50 | 1.50 | 1.00 | ||||||||||||
257.70 | 264.80 | 7.10 | 0.46 | ||||||||||||
PT-20-175 | 374715 | 5894264 | 222 | 145 | -47 | 165 | 48.00 | 49.50 | 1.50 | 1.26 | |||||
76.50 | 78.00 | 1.50 | 1.87 | ||||||||||||
94.50 | 99.00 | 4.50 | 0.76 | ||||||||||||
PT-20-176 | 374715 | 5894264 | 21 | 145 | -65 | 13 | NSV | ||||||||
PT-20-176A | 374715 | 5894264 | 303 | 145 | -65 | 230 | 13.40 | 15.40 | 2.00 | 1.29 | |||||
111.40 | 120.80 | 9.40 | 0.86 | ||||||||||||
144.00 | 151.50 | 7.50 | 0.29 | ||||||||||||
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 | 0.37 | |||
23.60 | 31.50 | 7.90 | 0.30 | ||||||||||
48 | 105.30 | 57.30 | 0.52 | ||||||||||
Including | 48 | 66 | 18 | 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 | No significant values | ||||||
SI-20-12 | 376759 | 5897593 | 129 | 315 | -75 | 48 | No significant values | ||||||
SI-20-13 | 377064 | 5897440 | 201 | 315 | -75 | 22 | No significant values | ||||||
SI-20-14 | 377005 | 5897500 | 150 | 315 | -50 | 24 | No significant values | ||||||
SI-20-15 | 376934 | 5897308 | 150 | 315 | -50 | 5 | No significant values | ||||||
SI-20-16 | 376176 | 5897593 | 219 | 315 | -72 | 150 | 54 | 108 | 54 | 0.73 | |||
Including | 55 | 79.50 | 24.50 | 0.91 | |||||||||
Additional features:
File: Quebec Precious Metals Provides Update on Sakami drilling and Outlines Plans for 2021
27.01.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: | English |
Company: | Quebec Precious Metals Corporation |
1080, Côte du Beaver Hall | |
H2Z 1S8 Quebec | |
Canada | |
Phone: | +1 514 871-1258 |
Internet: | www.qpmcorp.ca |
ISIN: | CA7481401007 |
WKN: | A2NB6R |
Listed: | Regulated Unofficial Market in Berlin, Frankfurt, Stuttgart; NYSE, Toronto |
EQS News ID: | 1163530 |
End of News | DGAP News Service |
|
1163530 27.01.2021
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