Quebec Precious Metals Corporation: strong copper-gold potential of the Blanche and Charles projects near the recent Mythril copper-gold discovery, James Bay region, Quebec
TSX VENTURE: CJC
MONTREAL, April 30, 2019 (GLOBE NEWSWIRE) -- Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEN, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to report on the strong copper-gold potential of its 100% owned Blanche and Charles projects, located in the James Bay Eeyou Istchee territory, Quebec. These projects are adjacent to the Mythril high-grade copper-gold-molybdenum-silver discovery of Midland Exploration Inc. (“Midland”, TSX.V: MD, see Midland’s press release dated November 6, 2018). The samples on the Mythril discovery are selected samples. The grades obtained are not necessarily representative of the mineralization hosted on the project. BHP Billiton Canada Inc. has recently made an investment of $ 5.9 M in Midland to fund drilling of the Mythril discovery.
The Blanche project (256 claims, 131 km2, NTS 33/G9 and 33/G10, Figures 1 and 2) is located at kilometre 230 of the Trans-Taïga Road. The Trans-Taïga Road extends east from the James Bay Road at kilometre 544. This project consists of a volcano-sedimentary belt striking ENE, present within a tonalite, quartz monzodiorite and granite intrusive domain. Quartz-feldspar porphyry dykes are present within the tonalite and granodiorite intrusions. The volcano-sedimentary belt consists of an horizon of amphibolitized basalt interlayered with ultramafic rocks, banded iron formations and wackes. Sulphides (pyrite, pyrrhotite, arsenopyrite and chalcopyrite) are observed locally and reach up to 10% in volume. Prospecting and selected grab sampling were completed by the Company in 2017. A total of 221 samples were collected systematically along lines spaced 400 m apart. The highest sample values are for copper : 0.31%, 0.29%, 0.10% and 0.10%; and for gold: 0.20 g/t, 0.19 g/t and 0.13 g/t. The values range from below detection limit to 0.31% for copper and to 0.20 g/t for gold. The averages are 0.02% for copper and 0.01 g/t for gold. The samples are selected samples. The grades obtained are not necessarily representative of the mineralization hosted on the project.
The Charles project (61 claims, 31 km2, NTS 33H12) is located approximately 15 km east of the Blanche project, along the Trans-Taïga Road. This project has a similar geological setting. It consists of a NE-striking horizon of amphibolitized basalt interbedded with banded iron formations and biotite-garnet paragneiss bands. Ultramafic rocks have been observed. Linear magnetic highs have been identified in the SE portion of the project and show a spatial correlation with the iron formations.
Field reconnaissance work will be carried out during the upcoming summer field season to further validate the copper-gold potential of both projects.
Jean-Sébastien Lavallée (OGQ #773), Vice-President Exploration, director and shareholder of the Company and Normand Champigny, Eng., Chief Executive Officer, 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 Corporation
QPM is a new gold explorer with a large land position in the highly-prospective Eeyou Istchee James Bay region, Quebec, near Newmont Goldcorp's Éléonore gold mine. QPM’s flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM’s goal is to rapidly explore this project to advance it to the mineral resource estimate stage.
For more information please contact:
|Jean-François Meilleur||Normand Champigny|
|President||Chief Executive Officer|
|Tel.: 514 951-2730||Tel.: 514 979-4746|
Paradox Public Relations
Tel: 514 341-0408
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