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Quebec Precious Metals Corp
Symbol CJC
Shares Issued 44,980,558
Close 2019-10-01 C$ 0.275
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Quebec Precious Sakami reanalyzing has 2.5m of 1.28% Ni

2019-10-02 07:53 ET - News Release

Mr. Normand Champigny reports


Quebec Precious Metals Corp. has provided the results from the reanalyses of recovered historical and unanalyzed drill core samples (refer to press release of Sept. 24, 2019). The core samples are from nine holes drilled in 2008 by a previous operator on the project. A total of 51 samples from hole AP-08-12 were reanalyzed. High-grade nickel mineralization has been measured with samples that have returned up to 1.28 per cent nickel and 0.26 per cent copper over 2.55 metres (see attached table). This high-grade intercept and other high nickel values are hosted in mafic volcanic rocks with disseminated pyrite and pyrrothite. These rocks are within a sequence of quartzofeldspathic gneiss, quartz arenite, paragneiss and iron formation.

Hole ID   Length (m)   From (m)   To (m) Interval (m)  Au (g/t)  Cu (%)   Ni (%)

AP-08-12        201       86.05  105.00        18.95      0.04    0.05     0.62 
including                 86.05   93.20         7.15      0.07    0.03     0.88 
including                 86.05  100.00        13.95      0.04    0.07     0.70 
including                 87.30   90.30         3.00      0.10    0.04     1.14 
including                 97.45  100.00         2.55      0.03    0.26     1.28 

Hole ID    From (m)   To (m)  Lithology        

AP-08-12     86.05    87.30   Iron formation      
             87.30    93.20   Paragneiss, Py-Po-As   
             93.20    97.45   Quartz arenite      
             97.45   100.00   Mafic volcanic, Py-Po  
            100.00   105.00   Quartzofeldspathic gneiss

The company will continue its exercise of relogging the core to strategically identify an optimized set of samples for reassay during the fall. The continuing surface exploration program continues to progress well. The objective of the current program is to identify the best targets for an anticipated drill program later this year. Details of the drilling program will be finalized following a review of the results of the 2019 surface program.

Quality assurance/quality control

Quality assurance and quality control procedures have been implemented to ensure best practices in sampling and analysis of the core samples. The drill core was relogged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. Duplicates, 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, Que. The samples are weighed and identified prior to sample preparation. All samples are analyzed by aqua regia extraction with an inductively coupled plasma finish coupled with atomic emission spectroscopy (ICP-AES). The analytical procedure for gold is fire assay with AA finish on a 30 g sample (0.005 to 10 parts per million Au), with a gravimetric finish for assays over 10 ppm Au.

Qualified persons

Normand Champigny, Eng, chief executive officer of the company, and Jean-Sebastien Lavallee (OGQ No. 773), geologist, vice-president exploration, director and shareholder of the company, both qualified persons under National Instrument 43-101 on standards of disclosure for mineral projects, have prepared and approved the technical content of this release.

About Quebec Precious Metals Corp.

The company is a 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. Its flagship project is the Sakami project with significant grades and well-defined drill-ready targets. The company's goal is to rapidly explore this project to advance it to the mineral resource estimate stage.

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