Thursday, 18 April 2024

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Harfang and Quebec Precious Metals Jointly Identify High-Priority Gold and Lithium Drill Targets on Their Serpent-Radisson and Sakami Projects, Eeyou Istchee James Bay, Quebec

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MONTREAL, April 03, 2024 (GLOBE NEWSWIRE) —  Harfang Exploration Inc. (Harfang) (TSX.V: HAR) and Quebec Precious Metals Corporation (QPM) (TSX.V: QPM, OTCQB:  CJCFF, FSE: YXEP) are pleased to announce the results of a joint targeting study (the Study) conducted on adjacent and wholly-owned Serpent-Radisson and Sakami projects (the Projects) (see Figure 1). The Projects demonstrate significant potential for high-grade gold and more recently for lithium (see Harfang’s press releases dated October 5, 2022, September 13 and December 6, 2023, and QPM’s press releases dated September 20, 2023, and February 29, 2024).

The Study was designed to identify additional gold and lithium drill targets on the western portion of the Sakami project and on the eastern portion of the Serpent-Radisson project. The close collaboration between the two companies resulted in:

  • The identification of 12 priority gold and lithium targets including 3 high-priority targets that can be drill-ready following a field inspection later this year (see Figure 2); and,
  • An improved geological understanding and confirmation of the structural and lithological controls on gold and lithium mineralization.

Normand Champigny, QPM’s Chief Executive Officer, stated The collaboration with Harfang has been very beneficial to demonstrate the stronger exploration potential for both gold and lithium at our respective projects. We look forward to the follow-up in the field, drill the best targets and continue our collaboration with Harfang.

These types of collaborations are exactly what this industry needs more of, Rick Breger, Harfang’s President & Chief Executive Officer, stated. Not only were we able to more efficiently deploy our capital by pooling and sharing resources, but we also now have a much better technical understanding of our respective projects. Afterall, the geology does not change on the other side of the claim boundary.

Using both company and publicly available data, the Study generated a comprehensive geological and structural lineament map of the Sakami-Serpent-Radisson area. Highlights of the Study are as follows:

  • Mafic to ultramafic slivers extend to the SW along shears in the Sakami project area, deflecting to the WSW along splays in the Serpent-Radisson project area;
  • Mafic gabbroic dyke swarms that were previously unrecognized occur within tonalitic gneiss and felsic intrusions at Sakami. Additional gabbroic material occurs at the Serpent project, mainly along interpreted…

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