QUEBEC PRECIOUS METALS CORPORATION
DGAP-News: Quebec Precious Metals Corporation / Key word(s): Miscellaneous
Quebec Precious Metals obtains 4.06 g/t Au, 38.85 g/t Ag, 1.72 % Zn, 1.88 % Pb over 2.0 m from channel sampling on the
Elmer East project
2021-01-20 / 09:00
The issuer is solely responsible for the content of this announcement.
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Quebec Precious Metals obtains 4.06 g/t Au, 38.85 g/t Ag,
1.72 % Zn, 1.88 % Pb over 2.0 m from channel sampling
on the Elmer East project
Highlights
- Results received from 2020 fall channel sampling program confirm gold mineralized area approximately 60 m long by 10
m wide on the Lloyd discovery (Table 1, Figures 1 and 2) open in all directions.
- 11 channels cut at perpendicularly to the principal strike of quartz veins
- The most significant composite grades are:
4.06 g/t Au, 38.9 g/t Ag, 1.72 % Zn, 1.88 % Pb over 2.0 m (channel R4)
1.77 g/t Au, 12.3 g/t Ag, 0.30 % Zn, 0.78 % Pb over 1.0 m (channel R9)
1.73 g/t Au, 10.3 g/t Ag, 1.00 % Zn, 0.49 % Pb over 1.0 m (channel R8)
1.18 g/t Au, 10.2 g/t Ag, 0.52 % Zn, 0.71 % Pb over 1.0 m (channel R7)
0.96 g/t Au, 19.5 g/t Ag, 1.66 % Zn, 0.51 % Pb over 2.0 m (channel R3)
- The next phase of work at the Lloyd discovery in mid 2021 will comprise trenching in the extensions of the vein
system, along with additional surface sampling and detailed geological mapping.
MONTREAl, January 20, 2021 - Quebec Precious Metals Corporation ("QPM" or the "Company") (TSX.V: QPM, OTCQB: CJCFF,
FSE: YXEP) is pleased to report the channel sampling results from its Lloyd discovery located on its 100%-owned Elmer
East Project (the "Project") in Quebec's Eeyou Istchee James Bay territory. A total of 11 channels and 57 samples were
collected during the 2020 fall field program on the Project. Prospecting work was carried out with the participation of
GoldSpot Discoveries Corp. (TSX.V : SPOT) and QPM staff.
Normand Champigny, CEO of QPM, stated: "The 2020 channel samples and grab samples results from the Lloyd Discovery are
very encouraging. On the basis of the work done, we will go back to the field on this promising prospect to extend the
mineralized system in 2021."
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) over a distance of approximately 60 metres. Channel samples were taken
from the vein, returning gold values up to 5.78 g/t Au.
Table 1 and Figures 1 and 2 below summarize the grab samples results (see press release of September 16, 2020) and
channel samples results as well as their locations.
Table 1: List of channel samples and assay values from the Lloyd discovery.
# UTM UTM Azimut From To Au Ag Cu ( Pb Zn
Channel E N (() (g/t) (g/t) %) (%) (%)
R1 367081 5795473 72 0 1 0.015 NSV NSV NSV NSV
1 2 0.06 5.1 NSV 0.13 0.03
2 3 0.254 11.8 0.01 0.56 0.12
3 4 NSV NSV NSV NSV NSV
4 5 0.027 0.6 NSV 0.01 0.01
5 6 0.21 10.2 0.02 0.34 0.22
6 7 0.116 1.3 0.02 0.03 0.04
7 8 0.424 1.9 0.04 0.04 0.10
8 9 0.062 0.3 0.01 0.02 0.02
R2 367080 5795465 78 0 1 0.013 NSV NSV NSV 0.01
1 2 0.01 NSV NSV NSV 0.01
2 3 0.008 NSV NSV NSV 0.01
3 4 0.009 NSV NSV NSV 0.01
4 5 0.005 NSV NSV NSV 0.01
5 6 NSV NSV NSV NSV 0.01
6 7 NSV NSV NSV NSV 0.01
7 8 NSV NSV NSV NSV 0.01
R3 367080 5795459 124 0 1 0.241 3 0.01 0.02 0.22
1 2 1.06 14.4 0.05 0.54 1.01
2 3 0.868 24.6 0.03 0.48 2.31
3 4.1 0.55 3.2 0.05 0.04 0.12
4.1 5.0 0.008 NSV NSV 0.01 0.01
R4 367078 5795455 122 0 1 0.158 0.2 NSV 0.01 0.01
1 2 0.121 3.1 0.01 0.16 0.24
2 3 5.78 34.4 0.21 1.83 0.72
3 4 2.33 43.3 0.17 1.93 2.71
4 5.1 0.466 10.2 0.06 0.46 1.13
5.1 6 0.227 1.2 0.02 0.02 0.01
R5 367074 5795452 154 0 1 0.015 0.4 0.01 0.01 0.02
1 2 0.032 4.3 NSV 0.15 0.01
2 3 0.018 NSV NSV NSV 0.01
3 3.7 0.013 0.2 NSV NSV NSV
3.7 4.6 0.033 NSV 0.01 0.01 0.01
R6 367071 5795451 167 0 0.6 0.03 0.2 NSV NSV 0.01
0.6 1.3 0.047 NSV 0.01 NSV NSV
1.3 2.3 0.138 1.7 0.02 0.07 0.06
2.3 3.2 0.016 0.3 NSV 0.01 0.01
3.2 4.3 0.136 1.1 0.02 0.05 0.03
4.3 5.2 Not sampled
5.2 6.2 0.01 0.2 NSV NSV 0.01
6.2 7.2 0.012 0.2 NSV NSV 0.01
7.2 8.2 0.362 0.8 0.01 0.02 0.05
8.2 9.2 0.046 1.5 0.01 0.06 0.20
9.2 10.2 0.795 3.3 0.04 0.08 0.19
10.2 11.2 0.649 3.8 0.06 0.08 0.21
11.2 12.2 0.052 0.6 0.01 0.01 0.02
R7 367062 5795451 176 0 1 0.041 0.4 0.01 0.01 0.01
1 2 1.175 10.2 0.08 0.71 0.52
2 3 0.106 0.4 0.01 0.03 0.02
3 4 0.017 0.2 NSV NSV 0.01
R8 367054.8 5795448.6 184 0 1 1.730 10.3 0.15 0.49 1.00
R9 367051.8 5795451.3 212 0 1 1.765 12.3 0.12 0.78 0.30
R10 367051 5795452 230 0 0.5 0.036 0.9 0.01 0.03 0.01
0.5 1.5 0.006 0.3 NSV 0.01 NSV
1.5 2 0.045 1.8 0.01 0.05 0.07
R11 367060.8 5795441.8 39 0 0.6 0.011 0.4 0.01 0.01 0.02
0.6 0.9 0.076 5.8 0.01 0.24 0.07
0.9 2 0.045 0.9 0.01 0.01 0.02
2 2.5 NSV 0.3 0.01 0.01 0.01 NSV: No significant value.
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 km^2). It is to be noted that grab samples are selected samples and are not representative of the mineralization hosted on the Project. Access to the project is facilitated by the quality infrastructure of the James Bay region.
Quality Assurance/Quality Control Channel sample positions were recorded with a high-precision GPS. Quality assurance and quality control procedures have been implemented to ensure best practices in sampling and analysis of the channel samples. 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. Samples were also tested for multi-element using four-acid digestion. 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. -----------------------------------------------------------------------------------------------------------------------
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