Quebec Precious Metals Reports Consistent +20 m Thick Spodumene-Bearing Pegmatite Up to 150 m Deep from Its Maiden Drilling Program on its 100%-owned Lithium Ninaaskumuwin Discovery, James Bay, Quebec
Quebec Precious Metals (QPM) has completed its maiden drilling campaign at the Ninaaskumuwin lithium project in James Bay, Quebec, totaling 825m in 5 holes. Key findings include +20m thick spodumene-bearing pegmatite intersected in three holes, with visually estimated spodumene ranging from 3% to 50%. The drilling confirmed vertical continuity up to 150m deep of mineralized pegmatite dipping -57 degrees north. Previous outcrop samples showed Li2O values between 1.10% and 3.92%. The pegmatite remains open along strike and depth, with assays pending. The project is strategically located 60km north of the km 381 rest stop and 50km 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 completato la sua prima campagna di perforazione presso il progetto di litio Ninaaskumuwin a James Bay, Quebec, per un totale di 825 m in 5 fori. I risultati chiave includono pegmatite contenente spodumene spessa oltre 20 m intersecata in tre fori, con spodumene visivamente stimato tra il 3% e il 50%. La perforazione ha confermato la continuità verticale fino a 150 m di profondità della pegmatite mineralizzata con inclinazione di -57 gradi verso nord. I campioni prelevati da affioramenti precedenti mostrano valori di Li2O compresi tra l'1,10% e il 3,92%. La pegmatite rimane aperta lungo il colpo e in profondità, con analisi in attesa. Il progetto è strategicamente situato a 60 km a nord della fermata km 381 e a 50 km a nord del progetto Galaxy, che Rio Tinto sta acquisendo come parte della loro acquisizione di 6,7 miliardi di dollari USA di Arcadium Lithium.
Quebec Precious Metals (QPM) ha completado su primera campaña de perforación en el proyecto de litio Ninaaskumuwin en James Bay, Quebec, totalizando 825 m en 5 agujeros. Los hallazgos clave incluyen pegmatita portadora de espodumena de más de 20 m de grosor intersecada en tres agujeros, con espodumena estimada visualmente entre el 3% y el 50%. La perforación confirmó la continuidad vertical hasta 150 m de profundidad de la pegmatita mineralizada con una inclinación de -57 grados hacia el norte. Las muestras de afloramientos anteriores mostraron valores de Li2O entre 1.10% y 3.92%. La pegmatita sigue abierta a lo largo del strike y en profundidad, con ensayos pendientes. El proyecto se encuentra estratégicamente ubicado a 60 km al norte de la parada km 381 y a 50 km al norte del proyecto Galaxy, que Rio Tinto está adquiriendo como parte de su adquisición de 6.7 mil millones de dólares de Arcadium Lithium.
퀘벡 귀금속(QPM)는 퀘벡의 제임스 베이에 위치한 니나아스크무윈 리튬 프로젝트에서 첫 시추 캠페인을 완료하였으며, 5개의 구멍에서 총 825m를 시추했습니다. 주요 발견으로는 세 개의 구멍에서 20m 이상의 두께를 가진 스포듐 민스파미가 발견되었으며, 스포듐 민스파미의 시각적 추정치는 3%에서 50% 사이입니다. 이번 시추는 북쪽으로 -57도 기울어진 광물화된 페그마타이트가 150m 깊이까지 수직 연속성을 확인했습니다. 이전 노출 샘플은 Li2O 값이 1.10%에서 3.92% 사이임을 보여주었습니다. 페그마타이트는 계속해서 수평 및 수직 방향으로 열려 있으며, 분석 결과는 대기 중입니다. 이 프로젝트는 381번 휴게소에서 북쪽으로 60km, 갤럭시 프로젝트에서 북쪽으로 50km 떨어진 전략적으로 중요한 위치에 있습니다. 이는 리오 틴토가 67억 달러 규모의 아카디움 리튬 인수의 일환으로 인수하고 있는 프로젝트입니다.
Quebec Precious Metals (QPM) a achevé sa première campagne de forage au projet de lithium Ninaaskumuwin à James Bay, Québec, totalisant 825 m dans 5 trous. Les résultats clés incluent une pegmatite contenant du spodumène d'une épaisseur supérieure à 20 m rencontrée dans trois trous, avec une estimation visuelle du spodumène variant de 3% à 50%. Le forage a confirmé la continuité verticale de la pegmatite minéralisée jusqu'à 150 m de profondeur, inclinée à -57 degrés vers le nord. Des échantillons d'affleurement précédents ont montré des valeurs de Li2O comprises entre 1,10% et 3,92%. La pegmatite reste ouverte sur la longueur et en profondeur, avec des analyses en attente. Le projet est stratégiquement situé à 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 6,7 milliards de dollars d'Arcadium Lithium.
Quebec Precious Metals (QPM) hat seine erste Bohrkampagne im Ninaaskumuwin-Lithiumprojekt in James Bay, Quebec, abgeschlossen, mit insgesamt 825 m in 5 Löchern. Zu den wichtigsten Ergebnissen gehören in drei Löchern angetroffene, mehr als 20 m dicke Pegmatit mit Spodumen, bei der visuell geschätzte Spodumenwerte zwischen 3% und 50% liegen. Die Bohrungen bestätigten die vertikale Kontinuität der mineralisierten Pegmatite bis in eine Tiefe von 150 m mit einer Neigung von -57 Grad nach Norden. Frühere Aufschlusssamples zeigten Li2O-Werte zwischen 1,10% und 3,92%. Die Pegmatit bleibt sowohl entlang des Erzgangs als auch in der Tiefe offen, und die Auswertungen stehen noch aus. Das Projekt befindet sich strategisch 60 km nördlich der Raststätte km 381 und 50 km nördlich des Galaxy-Projekts, das Rio Tinto im Rahmen ihrer 6,7 Milliarden USD schweren Arcadium-Lithium-Akquisition erwirbt.
- Successful intersection of +20m thick spodumene-bearing pegmatite with up to 50% spodumene content
- Confirmed vertical continuity of mineralization up to 150m depth
- High-grade surface samples ranging from 1.10% to 3.92% Li2O
- Strategic location near infrastructure and Rio Tinto's recently acquired Galaxy project
- Assay results still pending from drill program
- drilling extent with only 5 holes completed
MONTREAL, QC / ACCESSWIRE / November 26, 2024 / Quebec Precious Metals Corporation (TSXV:QPM)(FSE:YXEP)(OTCQB:CJCFF) ("QPM" or the "Corporation") is pleased to announce that it recently completed the maiden drilling campaign totalling 825 m in 5 holes on its Ninaaskumuwin project in the Eeyou Istchee James Bay region of Quebec, Canada (see press releases dated October 21, 2024 and October 30, 2024).
Highlights (Table 1, Figures 1, 2 and 3)
+20 m thick spodumene-bearing pegmatite was intersected in three holes with visually estimated spodumene ranging from 3 to
50% ;These holes confirm the vertical continuity up to 150 m deep of the mineralized pegmatite dipping -57 degrees to the north; and
This maiden drill program demonstrates that the pegmatite body remains open along strike and to depth and more drilling will be required to more precisely determine its geometry and extension.
The drilling campaign's main objective was 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
The five holes intersected highly fractionated pegmatite dyke(s). The pegmatite dyke intersected in the first three holes were mineralized in spodumene. The spodumene is concentrated almost continuously throughout the width of the dyke. The pegmatite dykes were systematically sampled and sent for assay and metallurgical testing (assay pending).
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 pleased with the results of this first drill program. We look forward to seeing the assay results and to plan the next phase of drilling." 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 6.7 billion.
GeoVector Management Inc., based in Ottawa, supervised 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 was 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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Forward-Looking Statements
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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 drillhole coordinates from the fall 2024 program, Elmer East project - Press release of November 26, 2024
Hole # | UTM E | UTM N | Total depth (m) | Azimuth (o) | Dip (o) | Numbers of samples | From (m) | To (m) | Length (m) | Lithology |
EE24-001 | 342766.2 | 5827997 | 165.11 | 140 | -60 | 29 | 127.95 | 150.85 | 22.90 | Pegmatite |
EE24-002 | 342839.3 | 5827977 | 125.85 | 140 | -55 | 28 | 72.80 | 95.28 | 22.48 | Pegmatite |
EE24-003 | 342839.8 | 5827978 | 140.92 | 140 | -75 | 39 | 88.60 | 120.95 | 32.35 | Pegmatite |
EE24-004 | 342974.9 | 5828041 | 191.82 | 140 | -60 | 23 | 100.72 | 104.65 | 3.93 | Pegmatite |
EE24-004 |
|
|
|
|
|
| 122.00 | 125.70 | 3.70 | Pegmatite |
EE24-004 |
|
|
|
|
|
| 144.05 | 147.75 | 3.70 | Pegmatite |
EE24-005 | 342931.6 | 5828022 | 201 | 140 | -60 | 7 | 100.82 | 100.92 | 0.10 | Pegmatite |
EE24-005 |
|
|
|
|
|
| 103.37 | 103.81 | 0.44 | Pegmatite |
SOURCE: Quebec Precious Metals Corporation
View the original press release on accesswire.com
FAQ
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