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Quebec Precious Metals Corp
Symbol C : CJC
Shares Issued 44,980,558
Close 2019-07-09 C$ 0.35
Recent Sedar Documents

Quebec, Lomiko drill 111m of 4.93% Gp at La Loutre

2019-07-09 08:27 ET - News Release

Also News Release (C-LMR) Lomiko Metals Inc (2)

Mr. Normand Champigny of Quebec Precious reports

QUEBEC PRECIOUS METALS AND ITS PARTNER LOMIKO REPORT MULTIPLE 100 M+ INTERCEPTS AND MULTIPLE 10%+ CG ZONES AT ITS NON-CORE HIGH GRADE LA LOUTRE FLAKE GRAPHITE PROJECT

Quebec Precious Metals Corp. and Lomiko Metals Inc. have provided the results from the remaining 16 exploration diamond drill holes received from the 2019 program (see attached table) at the Refractory zone of the La Loutre graphite project. A total of 21 holes were completed on the Refractory zone for a total of 2,985 metres. The project is owned by Lomiko (80 per cent) and Quebec Precious (20 per cent).

"The La Loutre project has generated very significant drill results. Our partner Lomiko is funding 100 per cent of the next phase of work to prepare a resource estimate on this non-core asset," stated Normand Champigny, chief executive officer.

Although the current focus is on the Refractory zone, the project was also subject of an independent technical report in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, prepared by B. Turcotte and G. Servelle of InnovExplo Inc. from Val d'Or, Que., and O. Peters, of AGP Mining Inc., dated March 24, 2016, filed for the project's Graphene-Battery zone. The report presented a mineral resource estimate of 18.4 million tonnes at a grade of 3.19 per cent carbon flake graphite (Cg) in the indicated category and 16.7 million tonnes at 3.75 per cent Cg in the inferred category using a cut-off of 1.5 per cent Cg.

The above-noted 2016 mineral resource does not include the current results or the intercepts from the refractory zone in 2016 which were as follows:

  • LL-16-01 -- 7.74 per cent Cg over 135.60 m including 16.81 per cent Cg over 44.10 m;
  • LL-16-02 -- 17.08 per cent Cg over 22.30 m and 14.80 per cent Cg over 15.10 m;
  • LL-16-03 -- 14.56 per cent Cg over 110.80 m.

The next task is to complete a new resource estimate in compliance with NI 43-101 for the entire project including the 36 new drill holes completed since the above-mentioned 2016 resource estimate.

     RESULTS OF THE 21 DRILL HOLES OF THE 2019 DRILL PROGRAM

                                      Mineralization         
Hole ID No.       From (m)       To (m)  Interval (m)       Gp (%)

LL-19-01             3.00        10.50          7.50        18.85
                   109.50       213.00        103.50         9.89
Including          109.50       177.00         67.50        13.89
LL-19-02           114.80       117.00          2.20         8.62
LL-19-03            43.90       174.00        130.10         3.73
Including          106.50       162.90         56.40         4.97
LL-19-04*            3.00        93.00         90.00         2.75
LL-19-05           100.50       148.50         48.00         2.70
LL-19-06             5.50        30.00         24.50         6.81
                    52.50        70.30         17.80         4.89
LL-19-07             6.00        84.00         78.00         2.31
LL-19-08            55.50       109.50         54.00         2.73
LL-19-09            27.60        86.50         58.90         8.05
                    51.00        86.50         35.50         9.94
LL-19-10           102.00       108.00          6.00         3.54
LL-19-11            90.00       108.00         18.00         4.42
Including          100.50       105.00          4.50        10.10
LL-19-12            93.00       124.50         31.50         1.26
LL-19-13            81.00        90.00          9.00         6.35
                   106.50       136.50         30.00         1.19
LL-19-14*           80.70        99.00         18.30         4.43
LL-19-15*           51.00       167.90        116.90         4.80
Including          152.70       167.90         15.20        18.04
LL-19-16**           4.10        92.00         87.90         7.14
Including           70.50        91.50         21.00        15.48
Including          132.00       160.50         28.50         3.86
LL-19-17*           15.00        62.30         47.30         7.56
Including           51.00        62.30         11.30        17.45
                    96.00       126.00         30.00         1.96
LL-19-18             3.00        36.20         33.20         3.50
                    43.70        60.00         16.30        12.38
                    69.80        72.00          2.20        12.38
LL-19-19            55.50       166.50        111.00         4.93
Including           55.50        84.00         28.50         3.40
Including          110.50       166.60         56.10         7.47
Including          145.50       166.50          21.0        15.69
LL-19-20            34.30        40.50          6.20         4.07
                    97.50       115.50         18.00         2.18
                   118.30       124.10          5.80        16.00
LL-19-21            96.00       104.60          8.60         2.85

The width is drill indicated core length. Insufficient data exist 
to determine true width at this time.

*  Results announced in May 6, 2019, press release.

** Results announced in April 24, 2019, press release.

On the basis of the available geophysical and 2016 drilling data, the strike length of the mineralization is estimated at 900 m in the northwest-southeast direction and is open in both directions. A detailed interpretation of the results will be carried out to better estimate the thickness and strike length of the mineralized zone.

The project consists of contiguous claim blocks totalling 29 square kilometres situated approximately 53 km northwest of the Lac-des-Iles mine, formerly known as the Timcal mine, North America's only operating graphite mine. It is accessible by driving northwest from Montreal for a distance of approximately 170 kilometres.

The 2019 exploration program is managed by Consul-Teck Exploration Miniere Inc. of Val d'Or, Que., which designed the drilling campaign, supervised the program, and logged and sampled the core.

Quality assurance/quality control

Consul-Teck implemented QA/QC procedures 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 and blanks were inserted at a regular interval into the sample stream.

The samples in secure tagged bags were delivered directly to the analytical facility for analysis. In this case, the analytical facility was the ALS Minerals laboratory facility in Val d'Or, Que. The samples are weighed and identified prior to sample preparation. The samples are crushed to 70 per cent minus two millimetres, then separated and pulverized to 85 per cent passing 75 micrometres. All samples are analyzed for Cg using the C-IR18 method.

Qualified person

Jean-Sebastien Lavallee (OGQ No. 773), geologist, is a shareholder of both companies, vice-president of exploration of Quebec Precious and a qualified person under NI 43-101, has reviewed and approved the technical content of this release.

About Quebec Precious Metals Corp.

The company is a new gold explorer with a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Goldcorp Corp.'s Eleonore gold mine. The company's flagship project is the Sakami project with significant grades and well-defined drill-ready targets. Its goal is to rapidly explore this project to advance it to the mineral resource estimate stage.

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