MONTREAL, July 30, 2019 (GLOBE NEWSWIRE) -- Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to announce exploration plans for the first phase of the 2019 program in Quebec’s Eeyou Istchee James Bay territory. The program will primarily focus on advancing its flagship Sakami project and the La Pointe deposit, a significant gold system where a total of 100 diamond drill holes have intercepted the deposit. The first phase of the program at Sakami can be summarized as follows:
- Apple area - soil geochemistry, prospecting, rock sampling, trenching and channel sampling;
- Apple-La Pointe-Simon-JR trend - Heli-borne magnetic and radiometric survey (1,400 line- km);
- La Pointe area - prospecting and geological mapping;
- Simon-JR area - IP survey (15 line-km), prospecting, stripping and rock sampling; and
- Île area including Bouleaux d’or - prospecting and rock sampling.
In addition, soil geochemistry, prospecting/rock sampling and reconnaissance geological mapping will be carried out on the Annabelle, Blanche and Charles, Cheechoo-Éléonore Trend, and Opinaca Gold West projects to better assess the exploration potential with the objective of inviting other parties to form partnerships or acquire these projects.
“This is a very significant and exciting field season in QPM’s one-year history,” commented Normand Champigny, Chief Executive Officer. “Following a successful fall 2018 - winter 2019 campaign, our team continues to extend the size of the mineralized system at La Pointe and confirm the district size potential of the Sakami project. We expect this year’s program to be at least similar in size to last year’s, but with the vast majority of the meterage to be drilled at La Pointe. We recognize the technical input from Newmont Goldcorp, our largest shareholder (13.5%). We will continue to work with them and take advantage of their deep expertise.”
In preparation for future drilling, exploration activities are planned to help develop targets for an anticipated drill program beginning during the early part of the fall. Details of the second phase of the program will be finalized following a review of the results of the first phase.
Results from Annual General Meeting of shareholders
The Company announces that, at its annual meeting held on July 24, 2019, shareholders of the Company approved all the items, including:
- Election of Mario Caron, Normand Champigny, Dominique Dionne, John W.W. Hick, Jean- Sébastien Lavallée, Charles B. Main and Jean-François Meilleur as directors; and
- Appointment of KPMG LLP as auditors.
QPM also announces that it has engaged Peak Investor Marketing Corp. to provide certain marketing, public relations and advisory services.
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 new gold explorer with a large land position in the highly-prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Goldcorp 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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