- Quebec Precious Metals (TSXV:QPM), an experienced junior gold miner, has begun a highly prospective drill program at its Sakami project in Quebec
- Drilling is focused on increasing higher-grade areas at the La Pointe Extension deposit, with more than 47 drill holes having intersected it to date, including 2.15 g/t Au over 42.2 metres
- Quebec Precious Metals is focused on advancing its Sakami gold project in Quebec near Newmont’s 200 Koz Au-per-year Eleonore gold mine
- Quebec Precious Metals stock (TSXV:QPM) is up by 14.29 per cent year-over-year, but has lost 73.33 per cent since 2018
Quebec Precious Metals (TSXV:QPM), an experienced junior gold miner, has begun a highly prospective drill program at its Sakami project in Quebec.
The project, which is in the Eeyou Istchee James Bay territory, features the La Pointe Extension gold deposit that the drill program is testing for high grades with favorable economics for open-pit mining.
The La Pointe Extension deposit and the La Pointe deposit are along a 23-kilometre-long geological contact containing gold mineralization. Both feature favourable spatial correlation between gold mineralization and disseminated arsenopyrite, pyrite and pyrrhotite as observed in drill holes.
The mineralized zone at the La Pointe deposit has a strike length of 950 metres, a depth of 450 m, and an estimated average true thickness of 35 m. The company has intersected the deposit in 134 drill holes across more than 36,000 m as of 2022.
The La Pointe Extension deposit offers confirmed mineralized continuity with a strike length of 2,000 m. The mineralized core holds a sub-vertically dipping higher-grade core with a strike length of 500 m, a depth of 600 m, and an estimated average true thickness of 40 m. A total of 47 drill holes over 14,535 m have intersected the La Pointe Extension deposit to date. Highlights include:
- Hole PT-20-151: 1.15 g/t Au over 80.1 m, including 2.21 g/t Au over 24.85 m
- Hole PT-20-154: 1.14 g/t Au over 70.3 m, including 2.74 g/t Au over 6.8 m
- Hole PT-21-177: 2.15 g/t Au over 42.2 m, including 5.17 g/t Au over 14.50 m
The drilling program will cover about 700 m over two drill holes and will be completed in early December, with results available in early 2024.
“We expect that the drill results will connect the richest portions of the La Pointe Extension deposit and augment significantly the mineralized volume,” Normand Champigny, Quebec Precious Metals’ CEO, said in a statement. “There are still many undrilled targets in an interpreted large intrusive body near the deposit and over a strike length of 2.5 km to the southwest of the deposit. Drilling of these targets could result in a major discovery.”
Quebec Precious Metals is focused on advancing its Sakami gold project in Quebec near Newmont’s 200 Koz Au-per-year Eleonore gold mine. The company also owns 68 per cent of the Kipawa/Zeus rare earths project near Temiscaming, Quebec, which is the only rare earths project in North America with a completed feasibility study.
Quebec Precious Metals stock (TSXV:QPM) last traded at C$0.08 per share. The stock is up by 14.29 per cent year-over-year, but has lost 73.33 per cent since 2018.
Join the discussion: Find out what everybody’s saying about this junior gold miner on the Quebec Precious Metals Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.