Connect with us

Today’s News

Quebec Precious Metals Reports High-Grade Grab Samples of 68.1 & 61.8 g/t Au on the Elmer East project; extends the Mineralized Corridor to 4.2 km at the Lloyd Discovery Area

HighlightsThe 2021 summer surface sampling program expended the mineralized corridor at the Lloyd discovery area from 60 m to 4.2 km (Figures 1 & 2,…

Share this article:

Published

on

Highlights

  • The 2021 summer surface sampling program expended the mineralized corridor at the Lloyd discovery area from 60 m to 4.2 km (Figures 1 & 2, photos 1, 2 & 3) and remains open in all directions. The most significant samples are as follows:
    • 68.1 g/t Au, 13.4 g/t Ag, 0.26 % Zn, 0.34 % Pb
    • 8.17 g/t Au, 41.2 g/t Ag, 0.21 % Zn, 1.65 % Pb
    • 7.31 g/t Au, 18.3 g/t Ag, 0.28 % Zn, 0.46 % Pb
    • 6.05 g/t Au, 4.6 g/t Ag
    • 5.97 g/t Au, 31.8 g/t Ag, 0.13 % Pb
  • A new gold-bearing vein grading 61.8 g/t Au and 35.8 g/t Ag was discovered at the Georgekish showing in the north-central claim block of the project (Figures 1 & 3, photo 4)

MONTREAL, QC / ACCESSWIRE / September 8, 2021 / Quebec Precious Metals Corporation ("QPM" or the "Company") (TSXV:QPM)(OTCQB:CJCFF)(FSE:YXEP) is pleased to report the grab sampling results from its Lloyd discovery located on its 100%-owned Elmer East Project (the "Project") in Quebec's Eeyou Istchee James Bay territory. A total of 153 grab samples were collected during the 2021 summer field program on the Project. This work was carried out with the participation of GoldSpot Discoveries Corp. (TSX.V: SPOT, OTCQX: SPOFF), following its gold targeting analysis in 2020 on the Project, and under the supervision of QPM.

Normand Champigny, CEO of QPM, stated: "The 2021 summer surface sample results further confirm the excellent gold potential of the Elmer East project. We are going back to the field this month to improve our geological understanding of this extensive mineralized system to identify the best drill targets."

The recent surface sampling work expands the mineralized corridor identified in 2020 from 60 m to 4.2 km (see press releases of September 16, 2020, and January 20, 2021). The mineralized rocks consist of a 1 to 2 m wide SW-NE trending and shallow-dipping, hematized, quartz±epidote-carbonate veins with open spaces crystallization and various amounts of sulphide minerals (galena, sphalerite, chalcopyrite and pyrite). Grab samples taken from veins returned gold values up to 68.1 g/t Au. Mineralization is hosted in a chloritized wacke near the contact with a polymictic conglomerate of the Wabamisk Formation.

Figures 1, 2 and 3 below summarize the grab sample results as well as their locations. The complete sampling results are available on QPM's website.

The next phase of field work to be performed during September will be:

  • Collection of orthophoto and LiDAR data by helicopter over a surface area of 4.8 km2;
  • Characterization of the veins, including structures and mineralogy to better understand the mineralized systems of the discovery areas; and
  • Channel sampling of the new high grade discoveries.

In addition to these encouraging results at the Lloyd's discovery area, a new discovery denoted as Georgekish, a grab sample returned 61.8 g/t Au and 35.8 g/t Ag in the north-central claim block of the Elmer East Project. It consists of a deformed oxidized quartz vein (folded and dismembered) hosted in high strained chlorite altered conglomerates with disseminated pyrite and proximal to a gabbro dyke (see photo 4). This high-grade sample was collected within an interpreted NW-trending shear corridor, about 100 m to the SE of a 3.7 g/t Au grab sample collected during the 2020 summer. These two high values highlight the potential of other discoveries along the interpreted NW-trending structure. Further field validation will be performed in this area.

The Elmer East project consists of 929 claims (488 km2). It is to be noted that grab samples are selected samples and are not representative of the mineralization hosted on the Project. Access to the Project is facilitated by the quality infrastructure of the James Bay region.

Quality Assurance/Quality Control

Grab sample positions were recorded with a high-precision GPS. Quality assurance and quality control procedures have been implemented to ensure best practices in sampling and analysis of the channel samples. Standards and blanks were inserted regularly into the sample stream. 
The samples were delivered, in secure tagged bags, directly to the ALS Minerals laboratory facility in Val-d'Or, Quebec. The samples are weighed and identified prior to sample preparation. 
All samples are analyzed by fire assay with AA finish on a 30 g sample (0.005-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au. Samples were also tested for 48 elements using four-acid digestion ICP-MS (MS-ME 61).

Qualified Persons

Normand Champigny, Eng., Chief Executive Officer of the Company, and Richard Nieminen, 
P. Geo., Senior Exploration Manager, both Qualified Persons under NI 43- 101 on standards of disclosure for mineral projects, have prepared and approved the technical content of this release.

About Quebec Precious Metals Corporation

QPM is a gold explorer with a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation's Éléonore gold mine. QPM's flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM's goal is to rapidly explore the Project and to advance to the mineral resource estimate stage.

About GoldSpot Discoveries Corp.

GoldSpot Discoveries Corp. is a technology services company in mineral exploration. GoldSpot is a leading team of expert scientists who merge geoscience and data science to deliver bespoke solutions that transform the mineral discovery process. In the race to make discoveries, GoldSpot produces Smart Targets and advances geological modelling that saves time, reduces costs and provides accurate results.

For more information please contact:

Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca

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) accepts responsibility for the adequacy or accuracy of this release.

Photo 1- 2021 New discovery outcrop vein with 68.1 g/t Au. Shallow dipping oxidized quartz±epidote-carbonate very similar in orientation and mineralogy as the Lloyd gold-bearing vein located 3 km to the west (looking north).

Photo 2 - Gold-bearing quartz vein with galena (lead-bearing), sphalerite (zinc-bearing), chalcopyrite (copper-bearing) and pyrite.

Photo 3 - 2021 New discovery gold-bearing vein. Shear plans of chlorite-bearing material within the quartz vein. Pyrite is also present within these plans, indicating it was affected by the deformation.

Photo 4 - 2021 new Georgekish discovery gold-bearing vein - 61.8 g/t Au and 35.8 g/t Ag in the north-central claim block of the Project. It consists of a deformed oxidized (from oxidation of sulphides) quartz vein hosted in chlorite-bearing altered conglomerates with disseminated pyrite.

SOURCE: Quebec Precious Metals Corporation



View source version on accesswire.com:
https://www.accesswire.com/663130/Quebec-Precious-Metals-Reports-High-Grade-Grab-Samples-of-681-618-gt-Au-on-the-Elmer-East-project-extends-the-Mineralized-Corridor-to-42-km-at-the-Lloyd-Discovery-Area

Today’s News

Granada Gold Mine Extends Warrant Terms

 

Rouyn Noranda, Q.C. – TheNewswire – September 24, 2021 – Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”)…

Share this article:



 

Rouyn Noranda, Q.C. - TheNewswire - September 24, 2021 - Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”) announces that it will be extending the expiry date of an aggregate 6,861,806 share purchase warrants (the "Warrants") by two years.  The 6,861,806 Warrants are due to expire on October 18 and November 6, 2021. The expiry date will be extended by two years and the Warrants will now expire on October 18 and November 6, 2023.  All other terms and conditions remain constant.

 

The private placement units were issued at a price of $0.15 per unit and consisted of one common share and one Warrant entitling the holder to purchase one additional common share at an exercise price of $0.15 per share for a period of three years from closing.  The amendment is subject to the approval of the TSX Venture Exchange.

 

About Granada Gold Mine Inc.

 

Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.

 

The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 3.5 to 5 grams per tonne gold.

 

The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings.  In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au.  They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.  

 

“Frank J. Basa”

Frank J. Basa, P. Eng.

Chief Executive Officer

 

For further information, Contact:

Frank J. Basa, P.Eng.

Chief Executive Officer

P: 416-625-2342

  

Or:

 

Wayne Cheveldayoff,

Corporate Communications

P: 416-710-2410

E: waynecheveldayoff@gmail.com

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.

  

Copyright (c) 2021 TheNewswire - All rights reserved.

Continue Reading

Today’s News

Bravada Gold Corporation Applies to Extend Closing of Non-Brokered Private Placement

Vancouver, British Columbia–(Newsfile Corp. – September 24, 2021) – Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the "Company" or "Bravada") reported…

Share this article:

Vancouver, British Columbia--(Newsfile Corp. - September 24, 2021) - Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (the "Company" or "Bravada") reported today that the Company has requested a 30-day extension, subject to TSXV approval, to close the previously announced non-brokered private placement.

The Company announced (August 9th, 2021) that it had closed the first tranche of its previously reported non-brokered private placement by issuing 4,260,000 units at a price of $0.07 per unit for gross proceeds of $298,200. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of two years at an exercise price of $0.12 per share.

Net proceeds from the private placement will be used for continued exploration on the Company's 100% owned Wind Mountain Au-Ag project, sustaining fees for the Company's Nevada-based claims, and for working capital.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the units, nor shall there be any sale of the units in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The units being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person.

About Bravada

Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. Bravada has successfully identified and advanced properties with the potential to host high-margin deposits, frequently attracting partners to fund later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA at Wind Mountain, and the Company has significant upside potential from possible new discoveries at its exploration properties.

Since 2005, the Company signed 32 earn-in joint-venture agreements for its properties with 19 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has 10 projects in its portfolio, consisting of 810 claims for approximately 6,500 ha in two of Nevada's most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed. Several videos are available on the Company's website that describe Bravada's major properties, answering commonly asked investor questions. Simply click on this link https://bravadagold.com/projects/project-videos/.

-30-

On behalf of the Board of Directors of Bravada Gold Corporation

"Joseph A. Kizis, Jr."

Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation

For further information, please visit Bravada Gold Corporation's website at bravadagold.com or contact the Company at 604.684.9384 or 775.746.3780.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

This news release is not intended for distribution to United States newswire services or dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97635

Continue Reading

Today’s News

Commerce Resources Corp. Announces Warrant Extension and Repricing

VANCOUVER, BC / ACCESSWIRE / September 24, 2021 / Commerce Resources Corp. (the "Company") (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announces that it has applied…

Share this article:

VANCOUVER, BC / ACCESSWIRE / September 24, 2021 / Commerce Resources Corp. (the "Company") (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announces that it has applied to the TSX Venture Exchange (the "Exchange") for an amendment to the terms of the 9,674,153 warrants (the "Warrants") issued in connection with the Company's private placement which held its first closing on October 11, 2019 and second closing on October 31, 2019. The Company proposes to extend the expiry date of the Warrants from October 11, 2021 to October 11, 2024 in respect of the first closing and October 31, 2021 to October 31, 2024 in respect of the second closing. In addition, the Company has applied for an amendment of the Warrants' exercise price from $0.50 to $0.285. All other terms of the Warrants will remain the same. The extension of the expiry date and repricing is subject to the approval of the Exchange.

About Commerce Resources Corp.

Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed REC and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.

For more information, please visit the corporate website at www.commerceresources.com or email info@commerceresources.com.

On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.

"Chris Grove"

Chris Grove
President and Director
Tel: 604.484.2700
Email: cgrove@commerceresources.com
Web: http://www.commerceresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Commerce Resources Corp.



View source version on accesswire.com:
https://www.accesswire.com/665534/Commerce-Resources-Corp-Announces-Warrant-Extension-and-Repricing

Continue Reading

Trending