Montreal, November 7, 2022 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) announces that in connection with the October 10, 2022 press release stating that Vital Metals Limited (“Vital”) has advised QPM that it is not proceeding with the acquisition of QPM’s 68% interest in the Kipawa and 100% interest in the Zeus heavy rare earth projects, QPM has received a payment of $1,013,124 under the terms of the binding term sheet dated August 9, 2021, as amended on February 4, 2022 between QPM and Vital.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Montreal, October 12, 2022 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) announces that at its Annual shareholders meeting (the “Meeting”) held on October 11, 2022, shareholders of the Company approved all the resolutions, as follows:
Election of Normand Champigny, Wanda Cutler, Julie Robertson and James Shannon as directors; and
Appointment of KPMG LLP as auditors.
Following the Meeting, QPM’s Board of directors appointed James Shannon, as Chair of the Board. On behalf of the Board, Mr. Shannon commented: “We want to thank John W.W. Hick who acted as Chair of Board. He made a huge contribution since the creation of the Corporation in 2018. His efforts are an important part of the suite of opportunities that we have before us now.”
Shares for debt
The following correction is made in connection with the Corporation’s press release issued on September 8, 2022 QPM stating that QPM has entered into agreements to issue an aggregate of 208,930 common shares. The debt settlement is paid in connection with services rendered by the current directors or former directors during the second quarter this current financial year.
Deferred shares units
The Company announces the issuance of 67,857 deferred stock units (the “DSUs”) to the Chief Executive Officer pursuant to its Deferred Share Unit Plan (the “DSU Plan”). This follows the decision that from May 1, 2022, the CEO’s salary compensation will be paid 80% in cash and the other 20% of compensation will be paid in Differed DSUs quarterly. In accordance with the DSU Plan, the DSUs vest immediately upon issuance and are payable in common shares of the Company, or in cash at the sole discretion of the Company, upon the holder ceasing to be an employee of the Company.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Montreal, October 10, 2022 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) announces that it will continue the sales process for the QPM’s 68% interest in the Kipawa and 100% interest in the Zeus heavy rare earth projects in Quebec, Canada (the “Projects”). Vital Metals Limited (“Vital”) has advised QPM that it will not proceed with the acquisition.
Vital’s new management informed QPM that it has not been satisfied with the results of its due diligence on the Projects, in particular the ability to progress its understanding of the Kipawa (Kebaowek) First Nation’s position on the Projects and that is also not satisfied with the technical due diligence completed by former management. Vital has informed QPM of its decision to terminate the agreement after not being able to agree on terms to extend the due diligence period to enable Vital to further reduce risk.
QPM’s CEO Normand Champigny stated, “We believe that significant value can be realized for our shareholders through the monetization of the Kipawa and Zeus projects. With the current market conditions for rare earth projects, we expect that we will receive further expressions of interest for these projects”.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Toronto, Ontario – September 19, 2022 – Idaho Champion (CSE: ITKO) (OTCQB: GLDRF) (FSE: 1QB1) (“Idaho Champion” or the “Company“) is pleased to announce that it has entered into a binding memorandum of understanding (the “Agreement“) with Quebec Precious Metals Corporation (“QPM“) to acquire a 100% interest in two prospective lithium pegmatite projects (the “Projects“) in the Eeyou Istchee James Bay territory of Quebec.
The Projects (covering approximately 162 km2) include historic findings of pegmatite (see Figure 1) and sit to the north of the Patriot Battery Metals’ (“Patriot”) Corvette project (recently intersected intervals included 1.25% Li2O and 118 ppm Ta2O5 over 96m (CV22-035); see Patriot’s news release dated July 28, 2022) and also located in close proximity to infrastructure in a developing potential lithium pegmatite district that has shown high prospectivity for lithium mineral resources.* The Projects are at an early stage of exploration, and the Company cautions that the qualified persons who have reviewed and approved this news release have not verified scientific or technical information produced by third parties, and proximity to projects containing lithium resources offers no assurance that the rock types or lithium resources reported by Patriot and others extend onto the Projects and such proximity is not necessarily indicative of the mineralization reported by third parties with projects in the district.
Together with its existing Cobalt assets located in Idaho, this pending acquisition pivots Idaho Champion’s strategy to focus on making a meaningful impact in the North American battery metals sector.
“Battery makers worldwide face significant challenges in order to meet the extraordinary demand and technological advances ahead of the 2035 EV mandates. Combined with the geopolitical climate, we are presented with an excellent opportunity to aggressively uncover materials important to meet these demands,” stated Jonathan Buick, President and CEO. “The Blanche and Charles projects place the Company right in the mix within a fast-growing lithium pegmatite district. The projects were originally explored for precious and base metals, but more recently, evidence of pegmatites has led to a re-assessment of the lithium discovery potential that warrants more work. Additionally, we would like to welcome QPM as cornerstone shareholders with approximately 7.4% of our outstanding shares post-transaction. We look forward to exploring these assets together.”
QPM’s Chief Executive Officer, Normand Champigny commented: “The Projects are clearly underexplored for lithium. In light of the recent discoveries in the area, we welcome the opportunity to become a significant shareholder of Idaho Champion while working with them to become successful explorers in the James Bay region. This transaction is consistent with our strategy to monetize non-core assets.“
Figure 1: Blanche and Charles Location Map
Blanche
Blanche is comprised of 256 claims totaling approximately 130 km2. The project lies within a volcano-sedimentary belt striking ENE. The Blanche project is mainly composed of a broad east-northeast trending mafic band, interpreted as an metamorphosed basalt hosted within tonalitic rocks and interbedded with narrow sections of magnesian basalt and komatiites, iron formations (silicate and/or oxidized facies) and metasedimentary rocks.
Three units of felsic intrusive rocks were observed at Blanche: hornblende tonalite, granite and pegmatite dykes. Tonalite consists of feldspar, quartz and biotite intrusive rocks. In the northwestern part of the project, the rocks are relatively homogenous and medium grained, containing 20 to 30% hornblende, with locally weak foliation. The granite is comprised of medium to coarse grained feldspar, plagioclase, quartz and biotite. It is massive, homogeneous, and mostly non-magnetic. A few pegmatite dykes have also been identified on the project. So far, they are typically less than two-meters wide and cut the felsic units, but they are also found parallel to the schistosity in the mafic rocks. Pegmatites have almost the same composition as the granites but show a texture ranging from coarse to pegmatitic with the presence of 5 to 7% muscovite.
The project is bordered to the south and north by felsic intrusive rocks, which have been described as hornblende-biotite tonalite, and tonalitic gneiss, tonalite, granodiorite and quartz monzogranite in the north. The metamorphic grade ranges from upper greenschist facies to middle amphibolite facies.
Charles
The Charles project is comprised of 61 claims covering approximately 31 km2. Less is known about this project, but the area exhibits variable topography, ranging from slightly to very hilly. Several hills associated with felsic intrusives and iron formations are present and have been shaped by glaciers that had an ENE-WSW direction. A number of outcrops are exposed. Within the northern and central parts of this project, there is a thick glacial sediments containing boulders of granite and pegmatite.
Terms of the Agreement
As per the terms of the binding Agreement, Idaho Champion is purchasing 100% of the Projects from QPM in return for $100,000 in cash and 12,000,000 common shares of the Company, of which 50% will be subject to escrow for 18 months. QPM will also retain a 2% net smelter return royalty (“NSR”) on claims retained by Idaho Champion upon completion of the acquisition. The Company has the option to repurchase 1% of the NSR from QPM for $1 million. Closing of the acquisition is subject to usual conditions for this type of transaction including a 45-day due diligence period, and regulatory and stock exchange approval.
Furthermore, the Company announces a private placement with the Agreement. Idaho Champion will issue up to 20,000,000 shares at a price of $0.05 per share for gross proceeds of $1,000,000. Proceeds of the private placement will be used for the acquisition payment and related transaction costs, preliminary field work on the Projects and for general working capital purposes.
Qualified Persons
Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702) and director of the Company, is a qualified person as defined by National Instrument 43-101. Mr. Highsmith has helped prepare, reviewed, and approved the technical information in this news release.
Normand Champigny, Eng., Chief Executive Officer of QPM, and Qualified Person under NI 43-101 on standards of disclosure for mineral projects, has reviewed the content of this press release.
About Idaho Champion Gold Mines Inc.
Idaho Champion is a discovery-focused exploration company that is committed to advancing its highly prospective mineral properties located in Idaho, United States and shortly, Quebec, Canada. The Company’s shares trade on the CSE under the trading symbol “ITKO”, on the OTCQB under the trading symbol “GLDRF”, and on the Frankfurt Stock Exchange under the symbol “1QB1”. Idaho Champion is vested in Idaho with four cobalt properties in Lemhi County in the Idaho Cobalt Belt. In addition, the Company has been advancing the Baner gold project in Idaho County, the Champagne polymetalic project located in Butte County near Arco. Idaho Champion strives to be a responsible environmental steward, stakeholder and contributing citizen to the local communities where it operates. Idaho Champion takes its social license seriously, employing local community members and service providers at its operations whenever possible.
“Jonathan Buick” Jonathan Buick, President and CEO
For further information, please visit the Company’s SEDAR profile at www.sedar.com or the Company’s corporate website at www.idahochamp.com.
For further information, please contact: Nicholas Konkin, Marketing and Communications, Idaho Champion Phone: (416) 567- 9087 Email: nkonkin@idahochamp.com
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.
Cautionary Statements for Idaho Champion
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release. This press release may include forward-looking information concerning the business of the Company within the meaning of Canadian securities legislation, including with respect to the completion of the transactions contemplated by the Agreement, the prospectivity of the Projects for lithium, the ability of the Company to successfully shift focus to exploration for battery-related metals, and with respect to the completion of a private placement of the size and at the price contemplated. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including being able to satisfy any conditions related to the acquisition, sufficient investor interest to complete the private placement financing necessary to fund the cash portion of the acquisition of the Project, having the necessary technical expertise to explore for lithium in pegmatite, and that reported lithium resources in the district of the Projects is indicative of mineralized pegmatite prospectivity on the Projects. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information and the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Forward-Looking Statements for QPM
This release includes forward-looking statements. Often, but not always, forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production output.
Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of resources or reserves, political and social risks, changes to the regulatory framework within which the entity operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward-looking statements are based on the entity and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect business and operations in the future. There are no assurances that the assumptions on which forward-looking statements are based will prove to be correct, or that the business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the entity or management or beyond the entity’s control.
Although there have been attempts to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward-looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be anticipated, estimated or intended, and many events are beyond the reasonable control of the entity. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements in this release are given as at the date of issue only. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the entity does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.
MONTREAL, QC – September 8, 2022 – Quebec Precious Metals Corporation (TSXV:QPM)(FSE:YXEP)(OTCQB:CJCFF)Â (“QPM” or the “Corporation“) announces that it will hold its annual meeting of shareholders (the “Meeting“) on October 11, 2022. On July 22, 2022, the Corporation announced the postponement its annual meeting of shareholders scheduled for July 28, 2022 to a later date. The amended and restated information circular in connection with the Meeting will be available on QPM’s web site and in the SEDAR issuer profile for the Corporation at www.sedar.com.
Shares for debt
QPM has entered into agreements to issue an aggregate of 208,930 common shares in settlement of debts of two current directors and three former directors of the Corporation in an aggregate amount of $29,250 (the “Debt Settlement“). The Debt Settlement is paid in connection with services rendered by the current directors or former directors during the first quarter this current financial year.
The Board of Directors and Management of QPM believe that the Debt Settlement is in the best interests of QPM as it will help the Corporation preserve its cash position. The common shares to be issued pursuant to the Debt Settlement will be issued at a deemed price of $0.14 per share and will be subject to a four-month hold period pursuant to applicable securities regulations and the policies of the TSX Venture Exchange.
The Debt Settlement is considered a “related party transaction” as defined under Multilateral Instrument 61-101 –Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Debt Settlement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as QPM’s securities are not listed on any stock exchange identified in Section 5.5(b) of MI 61-101 and neither the fair market value of the common shares to be issued in the Debt Settlement nor of the services provided in connection with the debts which are the subject of the Debt Settlement exceeds 25% of QPM’s market capitalization.
The Debt Settlement is subject to regulatory approval, including that of the TSX Venture Exchange.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Montreal, July 22, 2022 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) announces today that three incumbent directors, Mario Caron, Dominique Dionne and Paola Farnesi, are stepping down from the board of directors, effective immediately. QPM is also pleased to announce the appointment of Wanda Cutler and James Shannon as directors effective July 22, 2022. In light of these developments, QPM has decided to postpone its annual meeting of shareholders scheduled for July 28, 2022 to a date to be announced later (the “Meeting”).
Normand Champigny, Chief Executive Officer of QPM, said: “On behalf of QPM, I would like to thank Mario Caron, Dominique Dionne and Paola Farnesi for their invaluable contributions to the Corporation during their terms. Each of these three directors have provided great insights to QPM allowing it to become the company it is. We will miss their contributions in the future and are grateful for all they have done.”Â
John Hick, Chairman of QPM, said: “We recognize and acknowledge the immense contributions of Mario Caron, Dominique Dionne and Paola Farnesi for their roles on QPM’s board and we will miss their sage advice that they have provided over time. On behalf of QPM, I would like to welcome Ms. Cutler and Mr. Shannon to our board of directors and look forward to continuing the great work we have begun of creating value for shareholders.”
Ms. Cutler currently holds the position of President of Cutler McCarthy, a strategic communications firm and Head of Investors Relations at Amex Exploration, Inc. Ms. Cutler is also on the board of various mining companies including TomaGold Corporation and Vanstar Mining Resources. She has worked with reporting issuers for more than 20 years in marketing and communications. She has acted as a strategic advisor to a number of public companies including multiple junior mining companies, investment companies and alternative energy companies. Ms. Cutler has a Bachelor of Social Science, Political Science from the University of Ottawa.
Mr. Shannon, M.Eng, MBA, CIM is a registered portfolio manager with over twenty years of experience in finance, engineering and infrastructure development. Mr. Shannon worked for over ten years for investment dealers in Canada in the financing of energy, mining and infrastructure projects for publicly traded companies. In addition, Mr. Shannon has worked for over seven years as a portfolio manager in alternative investments for institutional and private wealth interests. Mr. Shannon has a BSc. in Civil Engineering from the University of Waterloo, an M.Eng. from McGill University and an MBA from the Ivey School of Business.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Montreal, May 26, 2022 – Quebec Precious Metals Corporation (“QPM” or the “Company”) (TSX.V: QPM, OTCQB: CJCFF, FSE: YXEP) is pleased to announce drill hole assay results from drill hole 189 and the six (6) drill holes from the 2022 winter program (7 holes, totalling 2,982 m). The results demonstrate the depth and strike extension of higher gold mineralization for an additional 200 m at the La Pointe Extension gold deposit, on the Company’s 100% owned Sakami project in the Eeyou Istchee James Bay territory of Quebec.
Highlights (Table 1, Figures 1, 2 and 3)
All seven (7) holes have intersected extensive mineralization over wide intervals.
The three most significant drill intersections are:
Hole PT-21-190: 1.61 g/t Au over 19.5 m including 4.91 g/t Au over 1.5 m
Hole PT-21-191: 0.84 g/t Au over 63.0 m including 1.25 g/t Au over 18.0 m
Hole PT-21-194: 0.94 g/t Au over 26.9 m including 1.77 g/t Au over 9.0 m
These holes confirm the continuity of the sub-vertically dipping higher-grade core of the deposit (500 m strike length, a depth of 600 m with an estimated average true thickness of 40 m, up to 75 m in the central part of the deposit, and plunging about 45 degrees to the northeast) which could be amenable to open pit mining.
Normand Champigny, QPM’s Chief Executive Officer, stated: “These results show that the La Pointe Extension deposit keeps expanding at depth and remains open in all directions. The drill results will add an important mineralized volume. In addition, we have numerous undrilled targets in interpreted large intrusive bodies near the deposit and over a strike length of 2.5 km to the south of the deposit. Additional drilling will be required to better define the mineralized zones and to optimize open pit geometries.”
The 2021 fall and 2022 winter drilling aimed to expand the La Pointe Extension deposit that could be amenable to open pit mining. To date, a total of 47 holes (14,535 m) have intersected the La Pointe Extension deposit.
The La Pointe Extension deposit and the La Pointe deposit are part of the Sakami project located along a 23-kilometre-long favourable geological contact that hosts gold mineralization. Both deposits are of similar geological character and a sub-vertically dipping higher-grade portion. They show a generally good spatial correlation between the gold mineralization and the abundance of disseminated arsenopyrite, pyrite and pyrrhotite hosted in a silicified paragneiss that is observed in drill holes. At the La Pointe deposit, the mineralized zone has a strike length 950 m, a depth of 450 m with an estimated average true thickness of 35 m, up to 63 m in the central part of the deposit.
The drilling contract was awarded to Orbit Garant Drilling Inc., based in Val-d’Or, Quebec. The hole diameter is NQ. Quality assurance and quality control procedures have been implemented to ensure best practices in sampling and analysis of the core samples. The drill core was logged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. Duplicates, standards and blanks were regularly inserted into the sample stream. The samples were delivered, in secure tagged bags, directly to the ALS Minerals laboratory facility in Val-d’Or, Quebec. The samples are weighed and identified prior to sample preparation. All samples are analyzed by fire assay with AA finish on a 30 g sample (0.005-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au.
Normand Champigny, Eng., Chief Executive Officer of the Company, and Qualified Person under NI 43-101 on standards of disclosure for mineral projects, has prepared and reviewed the content of this press release. François Gagnon, P. Geo., Senior Exploration Geologist with Consul-Teck Exploration Minière Inc. has also reviewed the content of this release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This release includes forward looking statements. Often, but not always, forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production output.
Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of resources or reserves, political and social risks, changes to the regulatory framework within which the entity operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward-looking statements are based on the entity and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect business and operations in the future. There are no assurances that the assumptions on which forward-looking statements are based will prove to be correct, or that the business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the entity or management or beyond the entity’s control.
Although there have been attempts to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward-looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be anticipated, estimated or intended, and many events are beyond the reasonable control of the entity. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements in this release are given as at the date of issue only. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the entity does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.
Table 1: Summary of significant drill hole assay results from the winter 2022 program, 
Sakami project - Press release of May 26, 2022
Notes:
All widths are drill-indicated core length.
Drill holes are generally planned to intersect mineralization as close to perpendicular to strike as possible.
Presence of a 4.5 km long gold-bearing structure with high grades remains open to extend mineralization at depth confirmed at the Lloyd discovery;Â
Processing of aeromagnetic and orthophotos/LiDAR data defines dilatant zones along the structure in a sinistral strike-slip system and connected with dykes (Figures 1, 2 and 3); and
Recommended 2022 program consists of Induced Polarization (“IP”) survey to better define the structure’s high-priority gold targets followed by drilling.
Montreal, Quebec and Toronto, Ontario – (March 23, 2022) – GoldSpot Discoveries Corp. (TSXV: SPOT, OTCQX: SPOFF) (“GoldSpot”), a leading technology services company leveraging machine learning to transform the mineral discovery process, and Quebec Precious Metals Corporation (TSXV: QPM, OTCQB: CJCFF, FSE: YXEP) (“QPM”), are pleased to provide an exploration update on the Elmer East project (the “Project”) 100% owned by QPM in the Eeyou Istchee James Bay territory of Quebec. Since 2020, GoldSpot has participated in the Project’s evaluation, execution of field work and interpretation of exploration results.
Normand Champigny, CEO of QPM, commented: “The presence of a 4.5 km long gold-bearing structure with high grades is a clear indication of the strong gold potential of the Elmer East project. With an IP survey, the project will be drill-ready later in 2022.”
Lloyd discovery
The fall 2021 field work aimed to characterize the gold-bearing veins, including structures and mineralogy that were reported previously (see press release of September 8, 2021). The work confirmed the presence of a 4.5 km-long EW trending high-grade gold-bearing structure. This was done through the collection of orthophoto and LiDAR data by helicopter over a surface area of 4.8 km2 and mapping of the vein structures and channel sampling of the high grade discoveries. GoldSpot and QPM agree that the 2022 program should comprise an IP survey followed by diamond drilling of the best gold targets.
Figure 2 highlights the structural pattern of folds and shears in an Archean clastic basin of conglomerates and greywackes with an interpreted major ENE trending sinistral shear structure. Flexures highlight dilatant zones and a probable pull-apart system which are spatially associated with the high-grade gold values. A mafic dyke swarm has been delineated and occurs mainly to the south of the major structure. The dykes are spatially correlated with the gold discoveries. Figure 3 illustrates the high priority gold targets generated by GoldSpot using knowledge-driven methods. Flexures, the pull-apart zone and the mafic dykes are highly prospective.
Georgekish discovery
The geophysical and litho-structural interpretation carried out by GoldSpot highlights major NW trending gold structures that border folded volcano-sedimentary units. This suggests that the lithologic contrast located near anticlinal fold axes are the best targets for gold mineralization (Figure 4). Only the southern part of the discovery area was visited in 2020 and 2021 (see press release of September 8, 2021). There is a significant potential for additional discoveries. Additional prospecting is recommended over the NW trending structures.
Quality Assurance/Quality Control
Grab sample positions were recorded with a high-precision GPS. Quality assurance and quality control procedures have been implemented to ensure best practices in sampling and analysis of the channel samples. Standards and blanks were regularly inserted into the sample stream. The samples were delivered, in secure tagged bags, directly to the ALS Minerals laboratory facility in Val-d’Or, Quebec. The samples are weighed and identified prior to sample preparation. All samples are analyzed by fire assay with AA finish on a 30 g sample (0.005-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au. Samples were also tested for 48 elements using four-acid digestion ICP-MS (MS-ME 61).
Qualified Persons
The technical information in this press release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 on standards of disclosure for mineral projects and approved by Ludovic Bigot (OGQ – P.Geo No. 1655), Senior Geologist at GoldSpot, a qualified person as defined by NI 43-101 guidelines. Normand Champigny, Eng., Chief Executive Officer of QPM, and Qualified Person under NI 43-101 has reviewed the content of this release.
Of the 835,000 stock options granted, 675,000 have been granted to its directors and officers 100,000 to an employee and a part-time consultant and 60,000 to a consultant.
For the directors, officers, one employee and one consultant, each Option entitles its holder to purchase one common share of the Company at a price of $0.17 per share for a five-year period. The Options vest as follows: one-third on the date of grant, one-third on the first anniversary of the date of grant, and one-third at the second anniversary of the date of grant. Options granted to one consultant are exercisable for a two-year period and will vest immediately. Options are granted in accordance with Policy 4.4 of the TSX Venture Exchange and the terms and conditions of the Company’s stock option plan.
GoldSpot Discoveries Corp. is a technology services company in mineral exploration. GoldSpot is a team of scientists who combine expertise in geoscience and data science to deliver bespoke solutions that transform the mineral discovery process. In the race to make discoveries, GoldSpot produces Smart Targets and advanced geological modelling that saves time, reduces costs and provides accurate results.
Denis Laviolette Executive Chairman and President GoldSpot Discoveries Corp. Tel: 647-992-9837 Email: investors@goldspot.ca
Neither the TSX Venture Exchange (“TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements for QPM
This release includes forward -looking statements. Often, but not always, forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production output.
Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of resources or reserves, political and social risks, changes to the regulatory framework within which the entity operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward-looking statements are based on the entity and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect business and operations in the future. There are no assurances that the assumptions on which forward-looking statements are based, will prove to be correct, or that the business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the entity or management or beyond the entity’s control.
Although there have been attempts to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward-looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be anticipated, estimated or intended, and many events are beyond the reasonable control of the entity. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements in this release are given as at the date of issue only. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the entity does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.
Forward -Looking Information for GoldSpot
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, Goldspot’s objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in GoldSpot’s public documents filed on SEDAR. Although GoldSpot believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. GoldSpot disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Figure 1: Elmer East location map – Lloyd and Georgekish discoveries
Figure 2: Lloyd discovery along the 4.5 km mineralized trend following the Eastmain River – Interpreted structural lineaments. Shaded first vertical derivative of the magnetic data in background.
Figure 3: Lloyd discovery along the 4.5 km mineralized trend following the Eastmain River – Interpreted gold targets and Interpreted structural lineaments. Shaded first vertical derivative of the magnetic data in background.
Figure 4: Georgekish discovery – Litho-structural interpretation and gold targets.
Montreal, March 15, 2022 – Quebec Precious Metals Corporation (TSX.V: QPM, OTC-BB: CJCFF, FSE: YXEP) (“QPM” or the “Company”) announces that it has granted an aggregate of 835,000 stock options (the “Options”) of the Company. Of this number, 640,000 have been granted to its directors and officers, 50,000 to one employee and 145,000 to three consultants.
For the directors, officers and one employee, each Option entitles its holder to purchase one common share of the Company at a price of $0.17 per share for a five-year period. The Options vest as follows: one-third on the date of grant, one-third on the first anniversary of the date of grant, and one-third at the second anniversary of the date of grant. Options granted to the consultants are exercisable for a two-year period and will vest immediately. Options are granted in accordance with Policy 4.4 of the TSX Venture Exchange and the terms and conditions of the Company’s stock option plan.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Montreal, March 10, 2022 – Quebec Precious Metals Corporation (“QPM” or the “Company”) (TSX.V: QPM, OTCQB: CJCFF, FSE: YXEP) is pleased to announce drill hole assay results from three (3) new drill holes completed during the 2021 fall program. The results confirm the extensive gold mineralization at the La Pointe Extension gold deposit, on the Company’s 100% owned Sakami project in the Eeyou Istchee James Bay territory of Quebec.
Highlights (Table 1, Figures 1, 2 and 3)
Two holes have intersected extensive mineralization over wide intervals:
Hole PT-21-187: 69.6 g/t Au over 0.6 m within 1.32 g/t Au over 94 m; and
Hole PT-21-188: 1.51 g/t Au over 42.15 m within 0.95 g/t Au over 100.8 m.
These two new holes confirm the continuity and the depth extension by about 100 m of the central portion of the deposit which could be amenable to open pit mining.
Normand Champigny, QPM’s Chief Executive Officer, stated: “These results are the best to date at the La Pointe Extension and validate our belief that the central portion of the deposit drilling continues at depth with greater mineralized widths. We look forward to receiving the results from drill hole 189 and the six drill holes from the winter drilling. They will add to the deposit’s volume as we continue to prepare our maiden resource estimate.”
This drilling aims to expand the La Pointe Extension deposit that could be amenable to open pit mining and will support the Company’s maiden mineral resource estimate. The Company expects that the resource estimate will be available in Q3 2022. To date, a total of 40 drill holes have intersected the La Pointe Extension deposit. The interpreted mineralized zone has a strike length of 3,750 m. The deposit has a minimum depth of 400 m and with estimated true thickness of 41 m, up to 75 m in the central part of the deposit. There is generally a good spatial correlation between the gold mineralization and the abundance of disseminated arsenopyrite, pyrite and pyrrhotite hosted in a silicified paragneiss that is observed in drill holes. The La Pointe Extension deposit and the La Pointe deposit are part of the Sakami project located along a 23-kilometre-long favourable geological contact that hosts gold mineralization.
Results from hole PT-21-189 completed during the 2021 fall program are expected shortly. Results from the ongoing winter program at the La Pointe Extension deposit will be released in the spring. Recently announced induced polarization survey results identified additional drill targets along strike and south of the La Pointe Extension deposit. Testing of these targets could expand significantly the size of the deposit.
The drilling contract was awarded to Orbit Garant Drilling Inc., based in Val-d’Or, Quebec. The hole diameter is NQ. Quality assurance and quality control procedures have been implemented to ensure best practices in sampling and analysis of the core samples. The drill core was logged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. Duplicates, standards and blanks were regularly inserted into the sample stream. The samples were delivered, in secure tagged bags, directly to the ALS Minerals laboratory facility in Val-d’Or, Quebec. The samples are weighed and identified prior to sample preparation. All samples are analyzed by fire assay with AA finish on a 30 g sample (0.005-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au.
Normand Champigny, Eng., Chief Executive Officer of the Company, and Qualified Person under NI 43-101 on standards of disclosure for mineral projects, has prepared and reviewed the content of this press release. François Gagnon, P. Geo., Senior Exploration Geologist with Consul-Teck Exploration Minière Inc. has also reviewed the content of this release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This release includes forward -looking statements. Often, but not always, forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production output.
Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of resources or reserves, political and social risks, changes to the regulatory framework within which the entity operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward-looking statements are based on the entity and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect business and operations in the future. There are no assurances that the assumptions on which forward-looking statements are based will prove to be correct, or that the business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the entity or management or beyond the entity’s control.
Although there have been attempts to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward-looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be anticipated, estimated or intended, and many events are beyond the reasonable control of the entity. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements in this release are given as at the date of issue only. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the entity does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.
Table 1: Summary of significant drill hole assay results from the 2021 program, Sakami project – Press release of March 10, 2022
Notes:
All widths are drill-indicated core length.
Drill holes are generally planned to intersect mineralization as close to perpendicular to strike as possible.
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