Quebec Precious Metals [TSX-V:QPM] is a junior mining looking for gold in the James Bay gold mining camp. It is cashed up to the tune of CAD 12m and also has Newmont Corp [NYSE:NEM] as a strategic investor. The company is currently drilling its flagship Sakami project, where it has well-defined, drill-ready targets.
The backing of Newmont has been a big selling point for investors with other gold exploration projects - e.g. Greatland Gold in Australia. Newmont is invested in Quebec Precious Metals alongside a number of Quebec institutions in QPM. Newmont owns approx 12.8% of the company at last check.
Back in March the firm provided an update on its Elmer East Project, where it has established the presence of a 4.5km long gold bearing structure with high grades, open to extend mineralisation at depth. Last month it announced assay results from seven holes drilled during its winter 2022 program on its La Pointe Extension gold deposit, where it drilled almost 3000m. We caught up with the management team at QPM ahead of these results.
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