Welcome to our dedicated page for Quebec Precious news (Ticker: CJCFF), a resource for investors and traders seeking the latest updates and insights on Quebec Precious stock.
About Quebec Precious Metals Corporation
Quebec Precious Metals Corporation (QPM) (OTCQB: CJCFF) is a mineral exploration company strategically positioned in the highly prospective Eeyou Istchee James Bay territory of Quebec, Canada. The company is focused on discovering and advancing high-value gold, lithium, and rare earth element (REE) deposits, catering to the growing global demand for critical and strategic minerals. QPM's operations are centered on sustainable exploration practices, collaboration with local communities, and leveraging its extensive land holdings near established mining infrastructure.
Core Business and Strategic Focus
QPM's primary focus is the exploration and development of its flagship Sakami Gold Project, a 23-kilometer-long gold-bearing structural corridor. The project encompasses two well-defined deposits, La Pointe and La Pointe Extension, which have shown significant gold mineralization through extensive drilling campaigns. Additionally, the company is advancing its Ninaaskuwin Lithium Prospect on the Elmer East project, where recent drilling has confirmed the presence of spodumene-bearing pegmatites with substantial vertical continuity. QPM also holds a 68% interest in the Kipawa Rare Earths Project, a historically significant deposit with proven reserves of heavy rare earth elements.
Market Position and Industry Collaboration
Operating in a region known for its rich mineral endowment, QPM benefits from its proximity to Newmont Corporation's Éléonore gold mine and other emerging mining projects. The company actively collaborates with industry partners, including Harfang Exploration, to enhance exploration efficiency and share technical expertise. This collaborative approach has resulted in the identification of high-priority drill targets for both gold and lithium, showcasing QPM's commitment to maximizing resource potential.
Key Differentiators
- Diversified Portfolio: QPM's assets span multiple high-demand commodities, including gold, lithium, and rare earth elements, providing resilience against market fluctuations.
- Strategic Location: The company's projects are located in Quebec, a mining-friendly jurisdiction with robust infrastructure and government support for critical mineral exploration.
- Technical Expertise: QPM employs advanced exploration techniques, including geometallurgical studies and structural mapping, to optimize resource identification and development.
- Community Engagement: QPM is committed to sustainable practices and actively supports local initiatives, such as the Reconstruction Initiative Forest Fires Fund, reinforcing its social license to operate.
Future Outlook
With a strong portfolio of exploration assets and a focus on critical minerals, QPM is well-positioned to capitalize on the increasing demand for sustainable and strategic resources. The company's recent merger with Fury Gold Mines Limited is expected to enhance its operational scale, diversify its asset base, and accelerate the advancement of key projects, including Sakami and Ninaaskuwin.
Quebec Precious Metals Corporation (CJCFF) announced on November 7, 2022, that it received a payment of $1,013,124 from Vital Metals Limited, following Vital's decision not to proceed with the acquisition of QPM's interests in the Kipawa and Zeus heavy rare earth projects. This payment is part of a binding term sheet established on August 9, 2021, and amended in February 2022. QPM is focused on gold exploration in Quebec, particularly the Sakami project, which has promising grades and aims to quickly advance to mineral resource estimation.
Quebec Precious Metals Corporation (OTCQB:CJCFF) held its Annual shareholders meeting on October 11, 2022, where shareholders approved all proposed resolutions. These included the election of Normand Champigny, Wanda Cutler, Julie Robertson, and James Shannon as directors, and the appointment of KPMG LLP as auditors. Following the meeting, James Shannon was appointed as Chair of the Board, succeeding John W.W. Hick. Additionally, the Corporation issued 67,857 deferred stock units to the CEO as part of a salary adjustment that includes a mix of cash and deferred compensation.
Quebec Precious Metals Corporation (CJCFF) has announced that it will continue the sales process for its 68% interest in the Kipawa and 100% interest in the Zeus heavy rare earth projects in Quebec, Canada. This follows the termination of an agreement by Vital Metals Limited, which decided not to proceed with the acquisition due to unsatisfactory results from its due diligence. QPM's CEO expressed confidence in realizing significant value for shareholders from these projects despite current market conditions for rare earth projects.
Idaho Champion has announced a binding term sheet with Quebec Precious Metals to acquire a 100% interest in two lithium pegmatite projects covering approximately 162 km2 in Eeyou Istchee Baie-James, Quebec. The projects, near Patriot Battery Metals' Corvette project, show historical lithium and tantalum grades. The deal involves $100,000 in cash and 12 million shares, with a 2% net smelter return royalty for QPM. This acquisition is part of Idaho Champion's strategy to strengthen its presence in the North American battery metals sector.
Quebec Precious Metals Corporation (OTCQB:CJCFF) will hold its annual shareholder meeting on October 11, 2022, after a postponement from July. The corporation will also issue 208,930 common shares to settle debts amounting to $29,250 owed by current and former directors. The shares will be issued at a price of $0.14 per share, subject to a four-month hold period. The transaction qualifies as a related party transaction but is exempt from formal valuation requirements. Approval from the TSX Venture Exchange is pending.
Quebec Precious Metals Corporation (OTCQB:CJCFF) announces the immediate resignation of three directors, with Wanda Cutler and James Shannon appointed as new directors. The announcement includes the postponement of the annual shareholder meeting originally set for July 28, 2022. CEO Normand Champigny expressed gratitude for the departing directors' contributions, while Chairman John Hick welcomed the new appointees. QPM is focused on gold exploration in Quebec, particularly the Sakami project, aiming to progress toward the mineral resource estimate stage.
Quebec Precious Metals Corporation (CJCFF) has announced significant assay results from seven drill holes, confirming higher gold mineralization at the La Pointe Extension deposit within its Sakami project, covering 2,982 meters. Key intersections include hole PT-21-190 reporting 1.61 g/t Au over 19.5 m. The deposit is confirmed to extend 200 meters, remaining open in all directions. CEO Normand Champigny highlighted the potential for further mineralized volume and additional undrilled targets. The Sakami Project spans a 23-km geological contact with solid infrastructure supporting year-round drilling.
GoldSpot Discoveries Corp. and Quebec Precious Metals Corporation report significant findings at the Elmer East project in Quebec, highlighting a 4.5 km long gold-bearing structure. The project, 100% owned by QPM, shows high-grade mineralization potential, with plans for an Induced Polarization (IP) survey to refine target identification followed by drilling later in 2022. Recent geophysical interpretations support the discovery of high-priority gold zones, enhancing exploration prospects.
Quebec Precious Metals Corporation (CJCFF) has granted a total of 835,000 stock options, with 640,000 allocated to directors and officers, 50,000 to an employee, and 145,000 to consultants. Each option allows purchase of a share at $0.17 for five years, with a vesting schedule. Consultant options vest immediately for two years. QPM is focused on the Sakami project in Quebec's Eeyou Istchee James Bay territory, aiming to advance exploration and reach the mineral resource estimate stage.
Quebec Precious Metals Corporation (CJCFF) announced promising drill results from its La Pointe Extension gold deposit at the Sakami project in Quebec. Notably, drill holes PT-21-187 and PT-21-188 yielded significant gold concentrations of 69.6 g/t Au and 1.51 g/t Au over extensive intervals. These findings affirm the mineralization's continuity and depth, suggesting potential for open-pit mining. The company anticipates its maiden resource estimate by Q3 2022, following further drilling results. The Sakami Project spans a 23-kilometer favorable geological contact.
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