MONTREAL, Oct. 29, 2019 (GLOBE NEWSWIRE) -- Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to provide a message from its Chief Executive Officer, Normand Champigny:
“We continue to make significant progress at our 100% owned Sakami gold project. The results from the summer surface program demonstrate the strength of the drill targets located along the 13-km mineralized trend. At the La Pointe deposit, the soil geochemical survey has delineated many new targets over a distance of 2 km to the west. These results represent a considerable potential upside for the La Pointe deposit. We are very excited to start drilling soon and systematically test the numerous target areas. Our goal remains the same: Identify a multi-million ounces resource through the project.”
“To fund the upcoming major drilling campaign, we have recently received financing from Laurentian Bank Securities as the lead and Canaccord Genuity Corp. as a comanager in the form of a bought deal totaling $ 6.5 million. We expect the closing of this financing within the next few weeks.”
“We are also looking forward to receiving and interpreting the surface results from the other James Bay gold projects: Cheechoo-Éléonore trend, Blanche, Charles, and Opinaca West. These results will provide a better understanding of these projects’ exploration potential.”
“Our shareholders can expect more news as we embark on the next phase of exploration. With a strong team and the required funding, we are excited about what the future holds.”
About Quebec Precious Metals Corporation
QPM is a gold explorer with a significant land position in the highly-prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Goldcorp Corporation’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.
