Quebec Precious Metals Intersects 22.9 m of Spodumene-Bearing Pegmatite in the First Drillhole of its Maiden Drilling Program on its 100 % Owned High-Grade Lithium Ninaaskumuwin Discovery, James Bay, Quebec
Quebec Precious Metals (QPM) has announced encouraging preliminary results from its first drillhole at the Ninaaskumuwin lithium project in James Bay, Quebec. The company intersected a 22.9-meter spodumene-bearing pegmatite interval from 127.95 to 150.85 meters depth, with visually estimated spodumene content ranging from 3% to 50%. Previous surface samples from the discovery outcrop yielded assays between 1.10% and 3.92% Li2O. The pegmatite body dips at approximately 57 degrees north and remains open along strike and depth. The project is strategically located about 60 km north of the 'km 381' rest stop and 50 km north of the Galaxy project, which Rio Tinto is acquiring as part of their USD$6.7 billion Arcadium Lithium acquisition.
Quebec Precious Metals (QPM) ha annunciato risultati preliminari incoraggianti dal suo primo foro di perforazione presso il progetto litio Ninaaskumuwin nella baia di James, Quebec. L'azienda ha intercettato un intervallo di pegmatite contenente spodumene di 22,9 metri da una profondità di 127,95 a 150,85 metri, con un contenuto di spodumene stimato visivamente tra il 3% e il 50%. I campioni superficiali precedenti dall'affioramento della scoperta hanno fornito analisi comprese tra l'1,10% e il 3,92% di Li2O. Il corpo di pegmatite ha una pendenza di circa 57 gradi verso nord ed è aperto lungo la strike e la profondità. Il progetto è strategicamente situato a circa 60 km a nord dell'area di sosta 'km 381' e 50 km a nord del progetto Galaxy, che Rio Tinto sta acquisendo come parte della sua acquisizione di litio Arcadium da 6,7 miliardi di dollari.
Quebec Precious Metals (QPM) ha anunciado resultados preliminares alentadores de su primer pozo de perforación en el proyecto de litio Ninaaskumuwin en la Bahía de James, Quebec. La empresa intersectó un intervalo de pegmatita portadora de espodumena de 22.9 metros desde una profundidad de 127.95 hasta 150.85 metros, con un contenido de espodumena estimado visualmente que varía del 3% al 50%. Las muestras en superficie previas del afloramiento de descubrimiento arrojaron análisis entre el 1.10% y el 3.92% de Li2O. El cuerpo de pegmatita tiene una inclinación de aproximadamente 57 grados hacia el norte y permanece abierto a lo largo de la dirección y la profundidad. El proyecto está estratégicamente ubicado a unos 60 km al norte de la área de descanso 'km 381' y 50 km al norte del proyecto Galaxy, que Rio Tinto está adquiriendo como parte de su adquisición de litio Arcadium por USD$6.7 mil millones.
퀘벡 프레셔스 메탈스(QPM)가 퀘벡 제임스 베이에 있는 니나스크무윈 리튬 프로젝트의 첫 번째 시추공에서 고무적인 초기 결과를 발표했습니다. 회사는 127.95미터에서 150.85미터 깊이까지의 22.9미터의 스포듐닌 함유 펀가이트 구간을 교차했으며, 시각적으로 추정된 스포듐닌 함량은 3%에서 50% 사이입니다. 발견 노출부의 표본은 1.10%에서 3.92% Li2O의 분석 결과를 보였습니다. 펀가이트 본체는 북쪽으로 약 57도 기울어져 있으며, 스트라이크와 깊이에서 열려 있습니다. 이 프로젝트는 'km 381' 휴게소에서 북쪽으로 약 60km, 리오 틴토가 67억 달러 규모의 아카디움 리튬 인수의 일환으로 취득하고 있는 갤럭시 프로젝트에서 북쪽으로 50km 떨어진 전략적 위치에 있습니다.
Quebec Precious Metals (QPM) a annoncé des résultats préliminaires encourageants de son premier trou de forage sur le projet de lithium Ninaaskumuwin dans la Baie James, Québec. L'entreprise a intercepté un intervalle de pegmatite contenant du spodumène de 22,9 mètres de 127,95 à 150,85 mètres de profondeur, avec un contenu en spodumène estimé visuellement entre 3% et 50%. Des échantillons de surface précédents provenant de l'affleurement de découverte ont montré des analyses comprises entre 1,10% et 3,92% de Li2O. Le corps de pegmatite plonge à environ 57 degrés vers le nord et reste ouvert le long de la direction et de la profondeur. Le projet est stratégiquement situé à environ 60 km au nord de l'aire de repos 'km 381' et à 50 km au nord du projet Galaxy, que Rio Tinto acquiert dans le cadre de son acquisition de lithium Arcadium d'un montant de 6,7 milliards USD.
Quebec Precious Metals (QPM) hat ermutigende vorläufige Ergebnisse aus seinem ersten Bohrloch im Ninaaskumuwin-Lithiumprojekt in James Bay, Quebec, bekannt gegeben. Das Unternehmen hat einen 22,9 Meter langen Spodumen-haltigen Pegmatit von einer Tiefe von 127,95 bis 150,85 Metern durchschnitten, wobei der visuell geschätzte Spodumenanteil zwischen 3% und 50% liegt. Frühere Oberflächenproben aus dem Entdeckungsaufschluss ergaben Analysen zwischen 1,10% und 3,92% Li2O. Der Pegmatitkörper hat eine Neigung von etwa 57 Grad nach Norden und bleibt entlang der Streichrichtung und in der Tiefe offen. Das Projekt befindet sich strategisch etwa 60 km nördlich der Raststätte 'km 381' und 50 km nördlich des Galaxy-Projekts, das Rio Tinto im Rahmen seiner USD 6,7 Milliarden Arcadium-Lithium-Akquisition erwirbt.
- First drillhole intercepted significant 22.9m of spodumene-bearing pegmatite
- High-grade surface samples ranging from 1.10% to 3.92% Li2O
- Visual spodumene estimates in drill core ranging from 3% to 50%
- Strategic location near infrastructure and Rio Tinto's recent acquisition target
- Results are preliminary and based on visual estimates only
- Actual lithium grades from drill core pending laboratory analysis
MONTREAL, QC / ACCESSWIRE / October 30, 2024 / Quebec Precious Metals Corporation (TSXV:QPM)(FSE:YXEP)(OTCQB:CJCFF) ("QPM" or the "Corporation") is pleased to announce very encouraging preliminary visual results from the first drillhole as part of the exploration campaign for lithium on its Ninaaskumuwin project in the Eeyou Istchee James Bay region of Quebec, Canada (see press release dated October 21, 2024). The drilling campaign's main objective is to test the extension at depth and along the strike of the discovery outcrop and the presence of potential stacked sills. Assay values from the nine samples from the discovery outcrop range from
In the first hole of the campaign (EE24-001), an interval of 22.9 m (from 127.95 to 150.85 m from surface, drilled at an angle of -60 degrees) spodumene-bearing pegmatite was intersected (see attached photo). Visually estimated spodumene in drill core ranges from
Preliminary interpretation shows that the spodumene pegmatite body dips at about -57 degrees to the north, even though surface indications suggested dip of about 30 degrees. The spodumene pegmatite body remains open along strike and to depth and more drilling is being performed to more precisely determine its geometry and extension.
The pegmatite is composed essentially of quartz, plagioclase, potassic feldspar and spodumene with lesser proportion of muscovite, tourmaline and garnet. The spodumene is light greenish-white colour and occurs as large and elongated crystals averaging 2 x 5 cm and up to 2 x 15 cm. A portion of the pegmatite shows albite alteration in which spodumene is concentrated in bands of fine-grained crystals. The pegmatite is hosted in metasedimentary units, mainly matrix-supported conglomerate in alternance with wacke and coarse-grained sandstone.
"We are very impressed to obtain such a positive result on the first drillhole. We look forward to seeing the results from the next drillholes." commented Normand Champigny, CEO.
The Ninaaskumuwin lithium prospect is easily accessible from the paved Billy Diamond highway located about 60 km north of the ‘km 381' rest stop that can provide accommodation, catering, fuel and power. It is also about 50 km north of the Galaxy project, which is being acquired by Rio Tinto plc as part of their recently announced acquisition of Arcadium Lithium plc for USD
GeoVector Management Inc., based in Ottawa, is supervising the drilling program, which includes core logging and sampling of the drill core. The QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results. Drilling is performed by RJLL Drilling, based in Rouyn-Noranda.
Qualified Persons
Normand Champigny, Eng., Chief Executive Officer of the Company, and Dr. Éric Hebert, P.Geo., Senior Geological consultant, member (#0842) of the Ordre des Géologues du Québec, are both qualified persons within the meaning of National Instrument 43-101 on standards of disclosure for mineral projects. They have reviewed and approved the technical information contained in this press release.
About Quebec Precious Metals Corporation
QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation's Éléonore gold mine. The Corporation focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Corporation holds a
For more information please contact:
Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca
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Drillhole EE24-001, core samples from 134.98 m to 146.62 m, visually estimated spodumene of
SOURCE: Quebec Precious Metals Corporation
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