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Quebec Precious Metals Corp
Symbol QPM
Shares Issued 67,434,334
Close 2020-09-16 C$ 0.25
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Quebec Precious samples up to 17.75 g/t Au at Elmer

2020-09-16 07:13 ET - News Release

Mr. Normand Champigny reports


Quebec Precious Metals Corp. has discovered a new gold and base metals system following the summer prospecting program on the 100-per-cent-owned Elmer East project in Quebec's Eeyou Istchee James Bay territory and is located east of the recent Patwon prospect gold discovery made by Azimut Exploration Inc. A total of 425 grab samples were collected during the summer field program on the project. Prospecting work was carried out with the participation of Goldspot Discoveries Corp. and Quebec Precious staff. Additional work including channel sampling will be carried out in the fall to better assess the exploration potential of this discovery.

The Lloyd showing consists of a one-to-two-metre-wide, southwest-northeast, shallow-dipping oxidized quartz vein with various amount of sulphides (galena, sphalerite and chalcopyrite) over a distance of approximately 60 metres. A total of nine grab samples were taken from the vein, returning gold values ranging from 0.42 g/t Au to 17.75 g/t Au with an average 5.41 g/t Au. Silver values averaged 29.2 g/t Ag. Anomalous copper, zinc and lead values were also observed with zinc values up to 7.99 per cent Zn. Although very limited follow-up prospecting work was carried out in the vicinity of the discovery, another quartz vein with traces of pyrite located 400 m east of the showing returned 0.33 g/t Au, suggesting the possible continuity of the system along the interpreted fault.

                             GRAB SAMPLE RESULTS

Sample              Au           Ag           Cu           Zn           Pb
                 (g/t)        (g/t)          (%)          (%)          (%)

B566181          17.75         29.2         0.11          NSV         1.75
B565106          13.55         23.0         0.13         1.98         1.35
B566182           5.19         21.2         0.14         1.13          NSV
B566114           2.66         67.2         0.06         2.33         2.49
B565107           1.89         33.5         0.13          NSV         1.42
B565179           1.77        13.66         0.77         7.99          NSV
B566113           0.42         6.47         0.02          NSV          NSV
B565112           0.88         20.1         0.03         1.09          NSV
B566180           4.64         48.9         0.54         5.68         1.87

NSV means 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 square kilometres). It is to be noted that: (1) gold mineralization discovered at Elmer East is not necessarily representative of mineralization found at the Patwon prospect, and (2) 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

Grab sample positions were recorded with a high-precision GPS (global positioning system). Quality assurance and quality control procedures have been implemented to ensure best practices in sampling and analysis of the grab 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, Que. The samples are weighed and identified prior to sample preparation. All samples are analyzed by fire assay with AA (atomic absorption) finish on a 30 g sample (0.005 to 10 parts per million Au), with a gravimetric finish for assays over 10 ppm Au. Samples were also tested for multielement using four-acid digestion.

Qualified persons

Normand Champigny, Eng, chief executive officer of the company, and Tony Brisson, PGeo, senior exploration manager, both qualified persons under NI 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, Quebec, near Newmont Corp.'s Eleonore gold mine. Quebec Precious's flagship project is the Sakami project with significant grades and well-defined drill-ready targets. Quebec Precious's goal is to rapidly explore this project to advance it to the mineral resource estimate stage.

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