SOQUEM

SOQUEM

October 03, 2016 11:33 ET

SOQUEM Intercepts High Grade Silver and Zinc at the B26 Project

VAL-D'OR, QUEBEC--(Marketwired - Oct. 3, 2016) - SOQUEM, a subsidiary of Ressources Québec, is pleased to announce the results of the most recent drilling campaign completed on the Zn-Cu-Au-Ag massive sulphide deposit of its B26 project, located 90 km west of Matagami in Québec. Covering an area of 32.7 km2, the B26 project is accessible via the Villebois-to-Joutel road in northern Québec and lies 7 km southeast of the former Selbaie mine (1981-2004 historical production of 56.5 Mt grading 0.9% Cu, 1.9% Zn, 38 g/t Ag and 0.6 g/t Au).

The B26 deposit, identified by SOQUEM at the end of 2015 as the host of polymetallic volcanogenic massive sulphide lenses, was the object of a drilling campaign from March to July 2016 totalling 15,349 metres in 23 holes, four of which were abandoned during drilling. The program targeted the high-grade extensions of the mineralization as well as INFINITEM-II borehole electromagnetic anomalies.

The best intersections include two main types of mineralization:

The northern portion of the mineralized system is interpreted as the alteration pipe rich in copper and locally in gold, characterized by veins and veinlets of chalcopyrite hosted in sericitized and chloritized rhyolites.

The southern portion of the system, rich in zinc and silver, contains primarily sphalerite, pyrite and galena, varying from disseminated to massive, hosted in horizons of silicified rhyolite and chert. These horizons are interpreted as exhalative levels. The stratigraphy is generally oriented E-W and dips 87° to the south. To date, the mineralization has been identified over a length of about 1.5 km and to a depth of 1 km.

The best intersections include:

14.08% Zn, 0.84% Cu and 237.43 g/t Ag over 1.8 m in true thickness (1274-16-224)
2.75% Cu and 0.61 g/t Au over 17.2 m in true thickness (1274-16-224)
12.92% Zn, 1.01% Cu and 354.82 g/t Ag over 4.2 m in true thickness (1274-16-228)
1.11% Zn, 723.95 g/t Ag and 0.62 g/t Au over 2.9 m in true thickness (1274-16-232)
4.69% Cu and 0.50 g/t Au over 3.8 m in true thickness (1274-16-236)
1.81% Cu and 0.30 g/t Au over 22.7 m in true thickness (1274-16-237)
9.09% Zn, 0.17% Cu and 585.27 g/t Ag over 1.7 m in true thickness (1274-16-238)
4.09% Cu, 1.05 g/t Au and 6.46 g/t Ag over 3.0 m in true thickness (1274-16-240)

Tables 1 and 2 are available at the following link: http://media3.marketwire.com/docs/1073149A_Tables_1_2.pdf

A location map (available on the SOQUEM website: www.soquem.qc.ca) shows the position of the drilling sites on the surface, and two longitudinal sections (copper-rich alteration zone and zinc exhalative zone) illustrate the 2016 pierce points compared with those from previous drillholes.

Olivier Grondin, President and CEO of SOQUEM, commented, "The B26 project continues to deliver results that demonstrate the large size of the mineralized system. The next drilling phase will use the new data acquired to locate the heart of the volcanogenic system, where the mineralized thicknesses may be larger. We are hoping for nothing less than the discovery of the next base and precious metals deposit to be developed in Québec." The next drilling program is scheduled for winter 2016-2017. A multidisciplinary approach combining geology, lithogeochemistry and geophysics will be used to plan the next drilling targets in order to maximize the chances of success.

Additional technical information is available on the SOQUEM website: www.soquem.qc.ca.

Stéphane Poitras, Geo., Assistant General Manager of SOQUEM, is a qualified person as defined by National Instrument 43-101. He examined and approved the scientific and technical data provided in this press release.

Strict QA/QC protocols have been followed on the B26 project, including the insertion of certified reference material samples (standards) and blanks. The core samples were analyzed by the ALS Minerals laboratory in Val-d'Or. Gold assays were performed on 30-g aliquots by fire assay with atomic absorption spectroscopy (A.A. finish). Silver, copper and zinc were assayed using Aqua Regia digestion (HNO3-HCL) and determination by atomic absorption.

About SOQUEM

SOQUEM, a subsidiary of Investissement Québec, is a leader in mineral exploration in Québec. SOQUEM's mission is to explore, discover and develop mining properties in Québec. It has participated in more than 350 exploration projects and taken part in major discoveries of gold, diamonds, lithium and several other minerals.

Contact Information

  • Chantal Corbeil
    Media Spokesperson
    Investissement Quebec
    514 873-7161