SOQUEM, a subsidiary of Investissement Québec, is pleased to announce the latest results from the exploration program completed in the summer of 2024 on its Cardinal Property. The property, wholly owned by SOQUEM, is located 80 km southeast of Chibougamau (Fig. 1).

This second exploration program aimed to evaluate the continuity of the Richelieu Zone discovered in 2023 (press release of December 11, 2023) and to assess nearby geophysical targets. Thirty (30) holes were drilled for a total of 7,604 metres, including 21 holes for 5,786 metres on the Richelieu Zone.

Highlights :

• On the Richelieu Zone, hole 1438-24-031 returned grades of 1.05% copper, 0.75% nickel, 0.11% cobalt, 0.575 g/t platinum, 0.486 g/t palladium and 0.088 g/t gold over 11.65 m starting at 45.8 m.
• The length of the massive to semi-massive sulphide zone has doubled to 450 metres.
• A newly recognized 800-metre-long electromagnetic conductor 5 km south of the Richelieu Zone is now a priority target.

Richelieu Zone

The Richelieu Zone corresponds to a recently discovered magmatic Ni-Cu-PGE system associated with a late to post-Grenvillian mafic-ultramafic intrusion in the Parautochton. The intrusion hosting the mineralization, composed mainly of pyroxenite and peridotite, was emplaced in a gneiss-paragneiss unit.

Of the 21 holes drilled in 2024 on the Richelieu Zone, six intersected the massive to semi-massive sulphide horizon composed of pyrrhotite, chalcopyrite and pentlandite with polygenic xenoliths (Fig. 2). The zone has an elongated shape and dips 35° to the south.  Its length is now estimated at 450 metres, more than double the length determined during the maiden drilling program (Fig. 3).  Intervals of sulphides as disseminations and net texture are present at the top of the mineralized zone, supporting the metallogenic model.

Exploration

To test conductors modelled from a surface electromagnetic survey (TDEM with Squid probes), nine holes were drilled in three other areas. These holes revealed that the gneiss units contain several metre-scale layers of barren massive sulphides (pyrite-pyrrhotite) that could have been a source of sulphur for the targeted Ni-Cu-PGE deposit types.

New exploration target

A VTEM plus survey totalling 811 km was also completed, identifying a new conductor of interest 5 km south of the Richelieu Zone (Fig. 4). This near-surface conductor has been interpreted over a length of 800 meters.  Geophysical modelling demonstrates a similar signature and attitude to the Richelieu Zone.

In addition, mapping work identified angular pyroxenite blocks less than 1 km down-ice from this conductor. Finally, till sampling (C Horizon) on a grid covering the conductor shows Ni-Cu-Co-Au-Bi enrichment in its proximity.

Follow-up drilling will be conducted in 2025 on this high-priority Ni-Cu-PGE target.

Table 1. Significant assay results from the 2024 program – Richelieu Zone

⁽ⁱ⁾ Intervals are presented as drill core lengths.

Diss: disseminated sulphides
MS/SMS: massive sulphides to semi-massive sulphides

About Cardinal

The Cardinal Property, 19.5 km by 14 km, is located on Nitassinan lands of the Mashteuiatsh First Nation. It comprises 368 mining titles acquired in 2023, all 100% owned by SOQUEM. The property is the result of a target generation project, part of the government’s strategy for developing critical and strategic metals. It aims to develop the geological potential of the Grenville Parautochton. This area is close to infrastructure but has one of the lowest densities of geologic knowledge in Quebec.

Exploration work by SOQUEM’s team in the Grenville Parautochton has already identified several ultramafic intrusions and mineralized boulder trains. Encouraged by this progress, SOQUEM will continue to pursue its regional program.

Analytical protocols

Strict QA/QC protocols were implemented, including the insertion of certified reference material samples and blanks. All samples were sent to Activation Laboratories Ltd (Actlabs) for preparation and analysis.

Samples were weighed, crushed, pulverized, dissolved using the 4-acid method, and analyzed by ICP-MS/OES for 48 elements. If the value for metals such as Cu and Ni exceeded 1%, the sample was re-assayed by 4-acid digestion followed by ICP-AES analysis.

For gold, platinum and palladium, 50 g of material was analyzed by fire assay and inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish.

Qualified Person

The technical information in this press release has been reviewed by geologist Catherine Jalbert, Vice-President of SOQUEM, acting as a qualified person as defined by National Instrument 43-101.

About SOQUEM

SOQUEM, a subsidiary of Investissement Québec, is dedicated to the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Quebec’s mineral wealth, SOQUEM relies on innovation, research, and strategic minerals to be well positioned for the future.

Figure 1 – Location of the Cardinal Project (CNW Group/Soquem inc.)

Figure 2 – High-grade interval from the Richelieu Zone (hole 1438-24-031) (CNW Group/Soquem inc.)

Figure 3 – Surface-projection-and-cross-section – Richelieu-Zone (CNW Group/Soquem inc.)

Figure 4 – New-exploration target VTEM conductor 800 metres long (CNW Group/Soquem inc.)