Quebec Precious Metals updates the drilling at its Sakami gold project

CBJ Newsmakers

MONTREAL, Feb. 14, 2019 (GLOBE NEWSWIRE) — Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEN, OTC-BB: CJCFF) (“QPM” or the “Company”) report on the progress of the drilling campaign at its 100% owned Sakami project, Eeyou Istchee James Bay region, Quebec.  The winter drilling program is progressing well at the 43-Simon-9.6 area, located about 6 km NNE of the La Pointe area, where specific surface targets identified from previous exploration are being tested.

In the 43-Simon-9.6 area, ten diamond drill holes (“DDH”) have been completed as follows:

  • 4 DDH (totalling 635 m) in the 43 showing area where the best result obtained from historical channel sampling was 2.1 g/t Au over 2.5 m, including 5.5 g/t Au over 0.5 m, (Quebec Ministry of Energy and Natural Resources, GM 59019). There is also one historical DDH that returned 2.0 g/t Au over 6.0 m;
  • 4 DDH (totalling 612 m) in the Simon showing area with a fifth currently being drilled.  The Simon showing was discovered as a result of prospecting work carried out in the summer of 2015 on the Peninsula area, which returned 45.9 g/t Au in a chip sample. Channel sampling results of up to 20.8 g/t Au over 1 m and 17.5 g/t Au over 1 m have been also reported (see press release of November 8, 2016); and
  • 2 DDH (totalling 273 m) in the 9.6 showing area where the best results obtained from historical channel sampling were 17.9 g/t Au over 1.5 m, 7.7 g/t Au over 1.5 m, and 13.7 g/t Au over 1.0 m (Quebec Ministry of Energy and Natural Resources, GM 62497).

Two core photographs from DDH SI-19-03 drilled in the Simon showing area are attached. The photographs are of selected DDH intersections and are not necessarily representative of the mineralization hosted on the project. An interpreted mineralized zone was intersected between 127 to 135 m and contains disseminated to semi-massive pyrite, pyrrhotite and arsenopyrite in an Iron formation.  Similar mineralized zones have been intersected in each of the 10 DDH. Most of the observed mineralisation is hosted in basalts of the Yasinski Group in contact with sedimentary rocks of the Laguiche Group (Opinaca Subprovince) to the east.

It is anticipated that a total of 11 DDH will be drilled in this area for a total of approximately 1,650 metres. The analytical results are expected to be available within the next month. The drilling program will then continue with up to 9 DDH (about 3,500 meters) in the La Pointe area.

Quality Assurance/Quality Control

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

The field work was under the supervision of Jean-Sébastien Lavallée (OGQ #773), Vice-President Exploration, director and shareholder of the Company. Normand Champigny, Ing., Chief Executive Officer, and Jean-Sébastien Lavallée, 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 new gold explorer with a large land position in the highly-prospective Eeyou Istchee James Bay region, Quebec, near Goldcorp’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

Paradox Public Relations
Tel: 514 341-0408

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.

Photos accompanying this announcement are available at

http://www.globenewswire.com/NewsRoom/AttachmentNg/2dd0d066-e2b4-46f0-ba26-79d4de0d424f

http://www.globenewswire.com/NewsRoom/AttachmentNg/db520ad2-5cc8-48f0-ad0f-fc638e2bb292

Recommended