Thursday proved the mining industry’s turn to shine, with stronger results shown by at least one of its smaller-cap members.
Quebec Precious Metals Corporation (TSX-Venture:QPM) reported remaining drill results at the La Pointe Extension discovery and a near surface discovery at Simon area following the winter diamond drilling program on the 100% owned Sakami Project in Quebec's Eeyou Istchee James Bay territory.
The company also reported a total of 7,000 metres of additional drilling is planned for this fall to further extend and define the exploration potential of the La Pointe Extension discovery.
CEO Normand Champigny exulted,"The discovery of the La Pointe Extension marks a turning point for the Company and highlights the strong exploration potential of the Sakami Project. We are pleased with the initial results and are excited to test the continuity of the structure identified at the La Pointe Extension and a new target area uncovered by the IP survey.
QPM saw its shares ballooned shortly before lunch time on Thursday by 4.5 cents, or 18.4%, to 29 cents, on strong volume of 313,000 shares.
