# Quebec Precious Metals Begins Maiden Drilling Program on its 100 % Owned High-Grade Lithium Ninaaskumuwin Discovery, Situated Near the Galaxy Project to be Acquired by Rio Tinto, James Bay, Quebec, Announces Private Placement Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/quebec-precious-metals-begins-maiden-drilling-program-on-its-100-owned-high-grad--a181d78c-24a5-4c9f-af40-2fa6e129c89d Original source: https://money.tmx.com/en/quote/QPM/news/7622808759828303/quebec-precious-metals-begins-maiden-drilling-program-on-its-100-owned-high-grad Publisher: tmx Original announcement: 2024-10-21T11:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Quebec Precious Metals Corporation - Ticker: QPM - Exchange: TSX - Region: James Bay, Quebec - Primary commodity: Lithium - Secondary commodities: None reported - Document categories: Drill results, Capital raise - Extracted: 2026-09-16 19:14:28 UTC Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas summary Quebec Precious Metals has commenced a maiden 16-hole diamond drilling program at its Ninaaskumuwin lithium discovery in Quebec to test the extent of high-grade lithium outcrops \(1.10% to 3.92% Li2O\). The company also announced a non-brokered private placement of up to 12.5 million units to fund exploration and working capital. Reasoning: The company is advancing a new lithium discovery with high-grade surface assays and has secured funding via a private placement to execute a maiden drilling program. - Positive factor: Commencement of maiden drilling program - Positive factor: High-grade lithium outcrop assays \(up to 3.92% Li2O\) - Positive factor: Proximity to Rio Tinto's Galaxy project - Positive factor: Successful private placement to fund exploration Facts used in scoring: 3 ## Classification and evidence **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: The discovery is situated near the Galaxy project, which is being acquired by Rio Tinto. Evidence · text > It is also about 40 km north of the Galaxy project, which is being acquired by Rio Tinto plc **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The release explicitly mentions the insertion of CRM standards, duplicates, and blanks. Evidence · text > The QAQC program includes regular insertion of CRM standards, duplicates, and blanks **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The drilling program aims to test the down-dip extent and presence of potential stacked sills. Evidence · text > to test the down-dip extent of the sill of the discovery outcrop and the presence of potential stacked sills ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Drill Results (2) ### Fact 1 [Link to this fact](https://atlas-extractions.minestarters.com/news/quebec-precious-metals-begins-maiden-drilling-program-on-its-100-owned-high-grad--a181d78c-24a5-4c9f-af40-2fa6e129c89d#fact-drill-facts-0) Ninaaskumuwin · lithium #### Identity - Project: Ninaaskumuwin - Commodity: lithium - Region: canada\_qc - Reported Region: canada\_qc - Ticker: QPM #### Geometry - Grade: 3.92 - Grade Unit: % #### Classification - Sample Type: surface #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2024-10-21T00:00:00.000Z Reasoning: Surface grab samples show high-grade lithium mineralization. - Positive factor: High grade lithium outcrop Evidence · text > Assay values from the nine samples from the discovery outcrop range from 1.10% to 3.92% Li 2 O #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 2 [Link to this fact](https://atlas-extractions.minestarters.com/news/quebec-precious-metals-begins-maiden-drilling-program-on-its-100-owned-high-grad--a181d78c-24a5-4c9f-af40-2fa6e129c89d#fact-drill-facts-1) Ninaaskumuwin · lithium Needs review: drill\_no\_hole\_id #### Identity - Project: Ninaaskumuwin - Commodity: lithium - Region: canada\_qc - Reported Region: canada\_qc - Ticker: QPM #### Classification - Program: exploration - Sample Type: drill #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2024-10-21T00:00:00.000Z Reasoning: Commencement of a maiden drilling program to test discovery extent. - Positive factor: Maiden drilling program commencement Evidence · text > is pleased to announce the start of a maiden diamond drilling program \(up to 1,250 m, 16 holes, HQ core size will be used\) #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.