One of the problems investors face in the gold exploration space is there are simply WAY too many choices. When the market for precious metals peaked back in 2011, many companies arguably should have gone bust. Most did not. So today we have a plethora of them; most with marginal and/or debatable merits, even if their P.R. departments would have you thinking otherwise!
That makes it more important than ever to know how to spot the legitimate outliers. It actually is no big stretch to find gold, per se; but what companies out there have the ability for quantum discoveries, or for growing existing resources several-fold?
Of the companies on my recommended list currently, Quebec Precious Metals Corp. (QPM:TSX.V) stands out as an especially compelling exploration play. Recently sporting a market cap of a mere C$23 million (US$19 million or so), it has outsized potential as it explores near-virgin ground in the James Bay area of Quebec.
On June 9, the company announced its latest assay results from drilling at its Sakami Project (specifically, an area known as the LaPointe Extension.) Two early holes have intersected significant near-surface mineralization over wide widths: 1.83 grams/tonne (g/t) of gold over 58.6 meters and 2.15 g/t over 42.2 meters.
Just this LaPointe Extension area has a strike length of 3,500 meters, a minimum depth of 400 meters and an average estimated true thickness of 40 meters (and up to 101 meters), on the basis of the 35 holes drilled to date. Notably, LaPointe remains open in pretty much all directions.
Discussing these latest assay results, Normand Champigny, CEO of Quebec Precious Metals, stated, "The 2021 winter program at the La Pointe Extension generated some of the best drill results on the Sakami Project. We are very excited to drill this summer to confirm the high-grade potential at depth and along strike."
Overall, the Sakami Project footprint could end up being much larger: QPM's district-scale land package of over 140 sq. km. features a highly prospective 23-km-long contact between the La Grande and the Opinaca geological sub-provinces with multi-million ounces potential. And THAT is the "blue sky" here: QPM is not the typical company with the potential to modestly increase an existing resource, but to discover an essentially new one that could come out of the gates as an eye-opener.
Recently cashed up (one of its largest shareholders, Quebec's pension fund, had the lead C$1 million order on its just-closed and oversubscribed financing) QPM is hoping that further exploration success in the balance of 2021 will put it on the map in a bigger way with investors.
Chris Temple is editor and publisher of The National Investor. He has had an over 40-year career now in the financial/investment industry. Temple is a sought-after guest on radio stations, podcasts, blogs and the like all across North America, as well as a sought-after speaker for organizations. His ability to help average investors unravel, understand and navigate today's markets is unparalleled, and his ability to uncover "off-the-radar" companies is likewise. His commentaries and some of his recommendations have appeared in Barron's, Forbes, CBS Marketwatch, Wall Street's Best Investments/The Cabot Group, Kitco.com, the Korelin Economics Report, Benzinga.com, Palisade Radio, Mining Stocks Education, Mining Stock Daily and other media.
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1) Chris Temple: I, or members of my immediate household or family, own securities of the following companies discussed in the broadcast: Quebec Precious Metals. I personally am, or members of my immediate household or family are, paid by the following companies discussed in the broadcast: None. My company has a financial relationship with the following companies discussed in the broadcast: None. Chris Temple's and The National Investor disclosures are listed below. Chris Temple's and The National Investor disclosures are listed below.
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