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Quebec Precious Metals Corp
Symbol CJC
Shares Issued 48,891,467
Close 2020-01-13 C$ 0.28
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Quebec Precious starts 25,000 m drill program at Sakami

2020-01-14 07:24 ET - News Release

Mr. Normand Champigny reports


Quebec Precious Metals Corp. has commenced the 2020 drill program at its flagship Sakami project in Quebec's Eeyou Istchee James Bay territory. The company plans to drill approximately 25,000 metres. The drill program is fully financed. Details are as follows:

  • Quebec Precious Metals currently has $6.5-million in cash.
  • Drilling costs are low, at approximately $200/metre.
  • Two drills are on site, and drilling can be done year-round.
  • Drilling will focus on: (1) expanding the La Pointe deposit and the Simon new high-grade discovery (see press release of March 26, 2019) with results that include 14.20 grams per tonne gold over two metres, 5.05 g/t Au over 5.06 m, and 4.66 g/t Au over 3.50 m; and (2) testing additional new targets across the 13-kilometre mineralized trend striking south-southwest-north-northeast that includes the Apple, Peninsule, JR and Ile showings (with gold mineralization detected in drill holes, grab and trench samples) (see press release of Oct. 22, 2019).

Normand Champigny, chief executive officer of Quebec Precious Metals, stated: "Following our successful financing late 2019, we are about to undertake the most significant drilling program to date at Sakami. We anticipate completing over 25,000 metres of drilling by the end of this year. With the increased geological understanding of the project following our recent program, we are looking to speed up the discovery and resource identification process."

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.

Quebec Precious is a gold explorer with a large land position in the highly prospective Eeyou Istchee James Bay territory in 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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