Quebec Precious Metals Granted Financial Support from Quebec Government for Lithium

Rhea-AI Summary

Quebec Precious Metals (CJCFF) has received financial support up to $333,306 from Quebec's Ministry of Natural Resources and Forests (MRNF) for its Elmer Est project in Northern Quebec. The support is part of the Mineral Exploration Support Program for Critical and Strategic Minerals, aimed at enhancing mineral exploration projects in Quebec. This funding will enable QPM to conduct geometallurgical studies to design an optimal treatment process and develop lithium resources discovered at the Ninaaskumuwin site. Surface assays from the site have shown lithium oxide (Li2O) values of up to 3.92%, with potential mineralization extending along a 3.8 km trend.

Positive

• Financial support of $333,306 from Quebec's MRNF for the Elmer Est project.
• Geometallurgical studies funded to optimize lithium resource development.
• High assay values at Ninaaskumuwin site, up to 3.92% Li2O.
• Potential mineralization extending along a 3.8 km trend.

Negative

• None.

MONTREAL, QC / ACCESSWIRE / June 26, 2024 / Quebec Precious Metals Corporation ("QPM" or the "Corporation") (TSX.V:QPM)(OTCQB:CJCFF)(FSE:YXEP) is pleased to announce financial assistance up to a maximum of $333,306 from the ministère des Ressources naturelles et des Forêts (MRNF) on its Elmer Est project, in the Northern Quebec Region.

This financial support was granted as part of the fourth call for projects of the Mineral Exploration Support Program for Critical and Strategic Minerals (MCS).

This program supports companies in the mineral exploration sector in carrying out their projects aimed at developing MCS deposits in Quebec.

"We are very grateful to the MRNF for this assistance which will make it possible to carry out geometallurgical studies aimed at designing an optimal treatment process, optimizing production and developing the lithium mineral resources which will be identified on the Ninaaskumuwin lithium discovery of our project. », commented Normand Champigny, CEO of QPM.

The Ninaaskumuwin lithium prospect is easily accessible from the paved Billy Diamond highway located about 50 km north of the ‘km 381' rest stop that can provide accommodation, catering, fuel and power. Assay values from the surface from the discovery outcrop yielded values to 3.92% Li₂O. The surface mineralization has the potential to extend along a NW-SE 3.8 km-long trend (see press releases of October 24, November 7 and November 15, 2023, and January 18, 2024).

About Quebec Precious Metals Corporation

QPM is an exploration company with a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation's Éléonore gold mine. The company focuses on advancing its Sakami Gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Company holds a 68% interest in the Kipawa/Zeus rare earths project located near Temiscaming, Quebec.

For more information please contact:

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

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.

SOURCE: Quebec Precious Metals Corporation

View the original press release on accesswire.com

FAQ

What recent financial support did Quebec Precious Metals (CJCFF) receive?

Quebec Precious Metals (CJCFF) received financial assistance of up to $333,306 from Quebec's Ministry of Natural Resources and Forests for its Elmer Est project.

What is the purpose of the financial support received by Quebec Precious Metals?

The financial support will be used for geometallurgical studies to design an optimal treatment process and develop lithium resources at the Ninaaskumuwin discovery site.

What are the assay values of lithium oxide at the Ninaaskumuwin site?

Assay values from the surface at the Ninaaskumuwin site yielded results up to 3.92% lithium oxide (Li2O).

What potential does the Ninaaskumuwin site have for lithium mineralization?

The surface mineralization at the Ninaaskumuwin site has the potential to extend along a 3.8 km-long trend.