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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) reported promising drill results from its 2021 winter program at the Sakami Project in Quebec, involving 7 holes and 2,079 meters of drilling. Notable intersections included 1.83 g/t Au over 58.6 m and 2.15 g/t Au over 42.2 m, indicating high-grade mineralization. The company, which holds a 100% stake in the Project, plans a fully-funded summer program with 12,000 meters of drilling aimed at expanding the mineralized zone. CEO Normand Champigny expressed excitement about the high-grade potential at depth and along strike.
Quebec Precious Metals Corporation (CJCFF) has appointed two new independent directors, Paola Farnesi and Julie Robertson, to its Board of Directors. Farnesi brings over 30 years of corporate finance experience, notably as Vice President and Treasurer at Domtar Corporation. Robertson, with extensive experience in finance from Centerra Gold Inc. and Barrick Gold Corporation, adds transformative leadership skills. The appointments follow the retirement of Charles Main, strengthening the board's talent and diversity. The company aims to advance its flagship Sakami project in Quebec, a significant gold exploration venture.
Quebec Precious Metals Corporation (CJCFF) has filed a National Instrument 43-101 Technical Report regarding its Sakami Project. The report highlights significant potential for economic gold mineralization at the La Pointe deposit and its extension. The ongoing exploration program includes 12,000 m of drilling funded by a recent $3.25M financing. The project spans 281 claims over 142 km² and benefits from robust infrastructure. Key team members boast extensive experience in gold exploration, enhancing confidence in the project's advancement.
Quebec Precious Metals Corporation (OTCQB: CJCFF) announced the closing of an additional tranche in its oversubscribed private placement, raising $22,000 through the issuance of 100,000 common shares at a price of $0.22 each. The total gross proceeds from the financing amount to $3,250,399 from 14,774,543 common shares. The company paid $1,760 in finders' fees and granted 8,000 non-transferable warrants. Proceeds will be allocated for exploration and general corporate purposes. The financing is subject to TSX Venture Exchange approval.
Quebec Precious Metals Corporation (CJCFF) announced the closure of the second tranche of its private placement financing, raising $594,000 through the issuance of 2,700,000 common shares at $0.22 each. The total proceeds from both tranches amount to $3,228,399 from 14,674,543 shares. An insider invested $22,000 in this tranche, exempting the company from certain regulations under MI 61-101. Additionally, finders received $47,520 in fees and compensation warrants. The funds will support exploration and working capital, pending acceptance by the TSX Venture Exchange.
Quebec Precious Metals Corporation (CJCFF) has successfully closed the first tranche of its private placement financing, raising $2,634,399.46 through the sale of 11,974,543 common shares at $0.22 each. Key institutional investors include CDPQ Sodémex, SIDEX, CRCD, and SDBJ. Insiders invested $102,999.82, categorized as a related party transaction. The Company aims to increase the total offering to $3,000,000 and use proceeds for exploration and working capital. Finders fees of $94,855.99 were also paid.
Quebec Precious Metals Corporation has increased its private placement offering to 12,404,545 common shares for gross proceeds of $2,729,000, priced at $0.22 per share. A finders' fee of 8.0% will be paid, and finders will receive non-transferable compensation warrants at $0.30 per share for 24 months. The offering will close on or about April 30, 2021, subject to necessary approvals. Proceeds will fund exploration expenditures and general corporate purposes.
Quebec Precious Metals Corporation (CJCFF) has announced a private placement aiming to raise $1,500,400 by issuing 6,820,000 common shares at $0.22 each. The offering includes an 8.0% finders' fee for certain subscribers and will be conducted in Canada and the U.S. under specific exemptions. Proceeds from this sale will be allocated to exploration and general corporate needs. The closing of the placement is anticipated around April 30, 2021, pending necessary approvals.
Quebec Precious Metals Corporation has announced that drilling has commenced at its Sakami project in Quebec, targeting the La Pointe deposit and La Pointe Extension with a program of 14,000 meters and over 40 holes. CEO Normand Champigny expressed optimism for new discoveries. Additionally, the company has engaged Hinge Markets Inc. for investor relations and capital markets advisory services, featuring an 8-month agreement for $8,000 per month and options for shares at $0.29 each, pending TSX Venture Exchange approval. The initiative aims to enhance awareness and engagement with investors.
Quebec Precious Metals Corporation (CJCFF) has issued 502,033 deferred stock units (DSUs) to officers and one employee under its DSU Plan, with immediate vesting. Additionally, the Company granted 1,275,000 stock options, primarily to directors and officers, at a price of $0.29 per share for a five-year term, with a gradual vesting schedule over two years. These actions align with the Company's strategy to incentivize its management while ensuring that the amendments to the Stock Option Plan receive approval from the TSX Venture Exchange.