Wow...very good potential..can wait they start - Results received from 2020 summer surface sampling program confirms a new gold mineralized system with several new high-grade grab samples (Table 1, Figures 1 to 3 and photo).
- Lloyd showing is outcropping over a distance of 60 m near the Eastmain river and remains open in all directions.
- 1 to 2 m wide quartz vein grading up to 17.75 g/t Au, with galena, sphalerite and chalcopyrite was discovered by prospecting high priority targets previously generated by GoldSpot Discoveries Corp.
- Another anomalous quartz vein with 0.33 g/t Au was also sampled 400 m east of the initial discovery, following the same interpreted regional scale fault, demonstrating the continuity of the new gold and base metals system.
- Next steps will include additional prospecting, and channel sampling of the area.
MONTREAL, QC / ACCESSWIRE / September 16, 2020 / Quebec Precious Metals Corporation ("QPM" or the "Company") (TSXV:QPM)(OTCQB:CJCFF)(FSE:YXEP) is pleased to report the discovery of a new gold and base metals system following the summer prospecting program on the 100% owned Elmer East Project (the "Project") in Quebec's Eeyou Istchee James Bay territory and is located east of the recent Patwon prospect gold discovery made by Azimut Exploration Inc. A total of 425 grab samples were collected during the summer field program on the Project. Prospecting work was carried out with the participation of GoldSpot Discoveries Corp. (TSX.V : SPOT) and QPM staff. Additional work including channel sampling will be carried out in the fall to better assess the exploration potential of this discovery.
The Lloyd showing consists of a 1 to 2 m wide SW-NE shallow dipping oxidized quartz vein with various amount of sulphides (galena, sphalerite and chalcopyrite) over a distance of approximately 60 metres. 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. Although very limited follow up prospecting work was carried out in the vicinity of the discovery, another quartz vein with traces of pyrite located 400 m east of the showing returned 0.33 g/t Au suggesting the possible continuity of the system along the interpreted fault. Table 1 and Figures 1 to 3 below summarizes the grab sample results and present their locations.