07:36:48 EDT Thu 22 Oct 2020
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Quebec Precious Metals Corp
Symbol QPM
Shares Issued 67,434,334
Close 2020-10-15 C$ 0.22
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Quebec Precious drills 12,500 metres at Sakami to date

2020-10-15 15:48 ET - News Release

Mr. Jean-Francois Meilleur reports


Quebec Precious Metals Corp. has provided an update on its exploration programs in the Quebec's Eeyou Istchee James Bay territory. The main focus was to carry out a drilling program to advance the Sakami gold project to the resource estimate stage by the end of the year. Surface exploration work was also carried out to provide an initial assessment of exploration targets on the company's Elmer East project.

"In spite of the delays related to the COVID-19 pandemic, we are pleased with our accomplishments so far this year," stated Normand Champigny, chief executive officer of QPM. "As of early October, 2020, we have completed 12,500 metres of drilling this year and expanded considerably the exploration potential of the Sakami project with the discovery of the La Pointe extension. In addition, we have made an early stage gold and base-metals discovery on the Elmer East project. Our exploration efforts in 2021 will be centered on these two projects."

The remainder of the 2020 program will consist of:

  • Preparation of an updated geological model in light of the drilling results from the La Pointe Extension drilling during the fall;
  • Evaluation of the channel sampling program recently completed at the Lloyd discovery on the Elmer East project;
  • Planning exploration programs on the company's projects on the Eeyou Istchee James Bay territory for the entire 2021 and drilling programs on the Sakami project at the beginning of the upcoming winter.

QPM has released an updated corporate presentation on the company's website.

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.

QPM 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. QPM's flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM's goal is to find the next gold mine in this territory.

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