QMX Gold Completes More Than 23,000 Metres in Winter Drilling Program
April 16 2018 - 12:00AM
QMX Gold Corporation (“QMX” or the “Company”)
(TSX:V:QMX) is pleased to report that the 2018 winter drilling
program has been completed. This program focused on the Val d’Or
East portion of QMX’s extensive land package in Val d’Or, Quebec
(Figures 1 and 2). The now completed program consisted of
approximately 23,400 metres (m) of drilling in 42 holes, testing
three key target areas: Bonnefond South, Bevcon Intrusive and New
Louvre. Assay results are pending.
The 2018 winter program followed on the success
of an initial program at Bonnefond South and included two
additional targets. The primary objectives of this program were to
test our geological model reinterpretations and increase our
knowledge in this highly prospective but relatively underexplored
region. The program included:
- Bonnefond South – A Phase II drill program
consisting of 17 diamond drill holes was completed to test both the
effect of hole orientation on the grade and the potential eastern
extension. An additional 5,000m drilling program is currently
planned to commence in May.
- Bevcon Intrusive – 19 diamond drill holes were
completed, to the south and west on trend of the past producing
Bevcon and Buffadison gold mines to test extensions of this gold
system along the intrusive margin. A follow up drill program will
be developed once all the assays have been received and evaluated.
- New Louvre/North Shear – A number of plug/sill
type intrusions occur along the eastern extension of the Bonnefond
South gold bearing shear system, including the New Louvre and North
Shear targets. A reconnaissance drill program consisting of 6
diamond drill holes was completed on these targets. Once the final
assays are evaluated a follow up drill program will be
developed.
Brad Humphrey, President and CEO, commented “We
are very encouraged with the preliminary results and
interpretations from this program as it appears to support our new
exploration model. The exploration team is now completing the
remaining logging and sampling and we expect to have our first
batch of results from the New Louvre target in the coming
weeks.”
The Company continues to evaluate historical
exploration data along with recently completed surveys across its
entire property, however at this time the primary focus remains on
the Val d’Or East camp. QMX’s East Zone covers more than 40 square
kilometres (km2) of highly prospective terrain encompassing several
gold-bearing intrusions including Bonnefond South, Bevcon Intrusion
and New Louvre. Each target is highly prospective and spans
approximately a 9km strike. The East Zone includes the
past-producing Bevcon Gold mine, which is the sixth largest gold
producing mine in the Val d’Or Mining Camp (MERN-SIGEON).
See News Release dated February 21, 2018 for details on
each of the key targets in the 2018 winter drilling
program.
Options Issue
QMX has granted 100,000 stock options pursuant
to the Company's stock option plan. The stock options vest
immediately and may be exercised at a price of $0.29 per option for
a period of five years from the date of grant. This grant of
options is subject to the approval of the TSX Venture Exchange.
Qualified
Persons
The scientific and technical content of this
press release has been reviewed, prepared and approved by Mr. Jules
Riopel, P.Geo, M.Sc, MBA, Director of exploration of
the QMX Gold, who is a "Qualified Person" as defined by National
Instrument 43-101 - Standards of Disclosure for Mineral Projects
("NI 43-101").
About QMX Gold Corporation
QMX Gold Corporation is a Canadian based
resource company traded on the TSX-V under the symbol “QMX”. The
Company has a strong balance sheet and is systematically exploring
its extensive property position in the Val d’Or mining camp in the
Abitibi District of Quebec. QMX is currently drilling in the Val
d’Or East camp portion of its land package focused on the Bonnefond
South Plug and in and around the Bevcon Intrusive. In addition to
its extensive land package, QMX owns the Aurbel gold mill.
Contact Information:Brad
Humphrey
Louis BaribeauPresident and CEO
Public RelationsTel: (416) 861-5887
Tel: (514) 667-2304Toll
free: +1 877-717-3027
Email: info@qmxgold.ca
Website: www.qmxgold.ca
Cautionary Note Regarding Forward-Looking
Information:
This press release contains or may be deemed to
contain “forward-looking information” within the meaning of
applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements regarding
future plans, operations and activities, projected mineralization,
timing of assay results, and the ability of the Company to continue
as a going concern. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
“plans”, “expects” or “does not expect”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or
“does not anticipate”, or “believes”, or variations of such words
and phrases or state that certain actions, events or results “may”,
“could”, “would”, “might” or “will be taken”, “occur” or “be
achieved”. Forward looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Company, its properties and/or its projects to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to those risks described in
the disclosure documents of the Company filed under the Company’s
profile on SEDAR. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Graphics accompanying this announcement are available
athttp://resource.globenewswire.com/Resource/Download/b0fac057-487f-4556-87b7-32a063940372
http://resource.globenewswire.com/Resource/Download/61fa31ec-a27d-450a-8b42-4d9739c4684a
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