QMX Gold Corporation (“QMX” or the “Company”)
(TSX-V:QMX) is pleased to report results from the first seven holes
of the 2018 winter drilling program on the Bonnefond South target.
Bonnefond South is located in the Val d’Or East Zone (Figure 1) of
QMX’s extensive land package in Val d’Or, Quebec (Figure 3). These
seven holes are part of a Phase II drill program which consisted of
17 diamond drill holes for 9,636 metres (m). They were completed to
test both the effect of hole orientation on gold grade inside the
Bonnefond Plug; and, the potential for an eastern extension of the
shear zones.
Highlights include:
Eastern Extension:
- Drill Hole 17315-18-34 returned 25.7
g/t Au over 6.9m and 2.0 g/t Au over 12.5m including 4.4
g/t Au over 4.5m.
Tonalitic Plug:
- Drill hole 17315-18-39 returned 1.8 g/t Au over
96.8m, including 5.9 g/t Au over 5.6m and 7.7 g/t Au over
4.0m.
Shear Zone in the Footwall Volcanics:
- Drill Hole 17315-18-38 returned 4.9 g/t Au over
5.1m, including 6.4 g/t Au over 3.1m and 3.0 g/t Au over
9.0m including 5.3 g/t Au over 4.0m.
- Drill Hole 17315-18-39 returned 3.3 g/t Au over
8.2m, including 7.7 g/t Au over 3.0m.
Interpretation and evaluation is ongoing as
these new results are integrated with the Phase I drilling.
Brad Humphrey, President and CEO, commented, “We
are very encouraged with the initial results confirming the
Bonnefond South target extends to the east. These results support
our view that this gold system continues to the east towards the
New Louvre, North Shear and Bevcon targets – covering roughly a 6km
strike. Further assays will be received in the coming weeks.”
2018 Summer Drilling
Program
Following on the strong results from our winter
drilling campaigns, a summer drilling program of 13,000m is
underway with three drill rigs currently turning (see QMX Press
Release, May 10 and 24, 2018). The summer program consists of
5,000m of infill drilling on Bonnefond South; 4,000m targeting New
Louvre; and 4,000m on the North Shear and Bevcon targets – covering
a trend extending approximately 6km.
To view Figure 1: QMX’s Val d’Or East Zone – Bonnefond
South Plug Target,
visit http://www.globenewswire.com/NewsRoom/AttachmentNg/48713955-11ab-4ebc-8770-76e6d9ae42fb
Initial Results From The Winter Drilling Program –
Bonnefond South
Highlights from the initial holes completed
during the Phase II winter drilling program are presented in Table
1 and Figure 2 (complete results are shown in Table 2). Drill holes
17315-18-34, -35 and -37 were design to test the eastern extension
of the Bonnefond Gold System and the area of the historical AUR
Resources hole which returned 12.2 g/t Au over 12m (Hole 315-36B,
GM 55978, MERN-SIGEOM). Drill hole 17315-18-36 tested the southeast
area and holes 17315-18-38 and -39 were drilled to evaluate the
Bonnefond South Plug and south shear zones down to 300m.
The geological context for the Bonnefond Plug
and south shear zones intercepted by drill holes 17315-18-38 and
-39 is similar to Phase I (see QMX Press Release, January 29,
2018). A preliminary geological interpretation suggests the
presence of shear zones dipping south and intersecting the
Bonnefond plug creating zones with high values. The gold assays
over 0.5 g/t Au seem well and uniformly distributed inside the
Bonnefond plug.
For the eastern extension of the Bonnefond Gold
System, drill holes 17315-18-34, -35 and -37 cut strong shear zones
highly anomalous in gold, similar to those intersected south of the
Bonnefond plug. A zone of felsic to intermediate intrusives
composed of Quartz-Feldspar porphyry, Feldspar porphyry and
porphyric Diorite was intersected and could represents the eastern
extension of the dyke system.
Table 1: Highlights from Initial Results
- Winter Drilling Program on Bonnefond South
Hole Number |
|
From |
To |
Length* |
Au** |
Interpretation |
|
|
(metre) |
(metre) |
(metre) |
(g/t) |
|
17315-18-34 |
|
222.8 |
244.2 |
21.4 |
1.3 |
QFP Dyke/Shear Zone |
|
Incl. |
229.0 |
235.0 |
6.0 |
2.5 |
|
|
|
255.0 |
267.5 |
12.5 |
2.0 |
QFP Dyke/Shear Zone |
|
Incl. |
262.0 |
266.5 |
4.5 |
4.4 |
|
|
|
302.6 |
309.5 |
6.9 |
25.7 |
Shear Zone |
|
|
|
|
|
|
|
17315-18-35 |
|
370.0 |
370.6 |
0.6 |
14.8 |
QFP |
|
|
398.6 |
414.7 |
16.1 |
1.4 |
Shear Zone/FP Dyke |
|
Incl. |
413.7 |
414.7 |
1.0 |
15.1 |
|
|
|
|
|
|
|
|
17315-18-37 |
|
551.8 |
559.0 |
7.2 |
1.4 |
Shear Zone/QFP Dyke |
|
Incl. |
556.0 |
559.0 |
3.0 |
3.0 |
|
|
|
744.5 |
750.8 |
6.3 |
4.8 |
Shear Zone |
|
Incl. |
749.0 |
750.8 |
1.8 |
15.6 |
|
|
|
|
|
|
|
|
17315-18-38 |
|
283.0 |
315.0 |
32.0 |
1.0 |
Bonnefond Tonalite |
|
Incl. |
283.0 |
286.7 |
3.7 |
3.3 |
|
|
|
361.0 |
366.1 |
5.1 |
4.9 |
Shear Zone |
|
Incl. |
363.0 |
366.1 |
3.1 |
6.4 |
|
|
|
426.0 |
435.0 |
9.0 |
3.0 |
Shear Zone |
|
Incl. |
429.0 |
433.0 |
4.0 |
5.3 |
|
|
|
|
|
|
|
|
17315-18-39 |
|
220.0 |
221.0 |
1.0 |
72.7 |
Quartz Vein/Shear Zone |
|
|
264.0 |
360.8 |
96.8 |
1.8 |
Bonnefond Tonalite |
|
Incl. |
308.6 |
314.2 |
5.6 |
5.9 |
|
|
Incl. |
325.0 |
329.0 |
4.0 |
7.7 |
|
|
|
438.0 |
446.2 |
8.2 |
3.3 |
Shear Zone |
|
Incl. |
443.2 |
446.2 |
3.0 |
7.7 |
|
|
|
|
|
|
|
|
* Reported
length are measured along the hole. |
** Au
uncut |
|
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|
|
A complete interpretation integrating the data from the Phase I
and II exploration programs will be completed to evaluate the
effect of hole orientation on grade and confirm the different shear
zone continuities and orientations. All drill holes are surveyed at
the end of the campaign using the Optical and Acoustic Imaging
tools to determine the direction and dip of the different
structures. Following the integration and evaluation, a Phase III
drilling program will be designed.
During the 2018 Phase II winter drilling program
on the Bonnefond South target, a total of 17 drill holes for 9,636m
were completed. Using new drill hole orientations, seven infill
drill holes (3,130m) tested the continuity of veining and
structures within the gold zone while assessing the effect of hole
orientation on the gold grade inside the plug. An additional 10
drill holes (6,500m) tested the eastern extension of the Bonnefond
gold-bearing system (Figure 2). Currently 5,000m of drilling
is underway to complete the Phase II program of infill drilling on
50m-spacings in the Bonnefond Plug and south shear zones.
To view Figure 2: Bonnefond South Target – Initial
Results From The Winter Drilling Program,
visit http://www.globenewswire.com/NewsRoom/AttachmentNg/1566f089-725b-4719-abbf-0eebb2a9e1c3
To view Figure 3: QMX’s Val d’Or
Properties,
visit http://www.globenewswire.com/NewsRoom/AttachmentNg/83b02133-9e27-4a00-8ace-0adbcbc95e9c
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 for QMX Gold, and
"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.
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Contact Information: |
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Brad
Humphrey |
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Louis
Baribeau |
President and CEO |
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Public Relations |
Tel:
(416) 861-5887 |
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Tel:
(514) 667-2304 |
Toll free: +1 877-717-3027 |
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Email: info@qmxgold.ca |
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Website: www.qmxgold.ca |
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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.
Table 2: Initial Results From Winter
Drilling Program – Bonnefond South Target
Hole Number |
MTN Zone 9 |
MTM Zone 9 |
Azimuth |
Dip |
Hole |
From |
To |
Length* |
Au** |
Remarks |
|
|
Nad 83 |
Nad 83 |
(°) |
(°) |
Length |
(metre) |
(metre) |
(metre) |
(g/t) |
|
|
|
Easting |
Northing |
|
|
(metre) |
|
|
|
|
|
|
17315-18-34 |
232401 |
5330503 |
180 |
-60 |
774 |
68.0 |
74.2 |
6.2 |
0.9 |
Shear Zone |
|
|
|
|
|
|
Incl. |
69.4 |
72.7 |
3.3 |
1.3 |
|
|
|
|
|
|
|
|
119.0 |
127.0 |
8.0 |
0.9 |
Shear Zone |
|
|
|
|
|
|
Incl. |
125.3 |
127.9 |
2.6 |
2.0 |
|
|
|
|
|
|
|
|
159.3 |
164.1 |
4.8 |
0.9 |
Shear Zone |
|
|
|
|
|
|
|
222.8 |
244.2 |
21.4 |
1.3 |
QFP Dyke/Shear Zone |
|
|
|
|
|
|
Incl. |
229.0 |
235.0 |
6.0 |
2.5 |
|
|
|
|
|
|
|
|
255.0 |
267.5 |
12.5 |
2.0 |
QFP Dyke/Shear Zone |
|
|
|
|
|
|
Incl. |
262.0 |
266.5 |
4.5 |
4.4 |
|
|
|
|
|
|
|
|
302.6 |
309.5 |
6.9 |
25.7 |
Shear Zone |
|
|
|
|
|
|
|
319.4 |
323.0 |
3.6 |
0.6 |
Shear Zone |
|
|
|
|
|
|
|
411.8 |
423.0 |
11.2 |
0.9 |
Shear Zone |
|
|
|
|
|
|
Incl. |
414.0 |
417.0 |
3.0 |
2.2 |
|
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|
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|
|
|
|
|
|
|
17315-18-35 |
232500 |
5330501 |
180 |
-60 |
720 |
229.6 |
238.9 |
9.3 |
0.5 |
Shear Zone |
|
|
|
|
|
|
|
244.4 |
248.8 |
4.4 |
0.8 |
Shear Zone |
|
|
|
|
|
|
Incl. |
245.4 |
247.8 |
2.4 |
1.2 |
Shear Zone |
|
|
|
|
|
|
|
271.8 |
276.7 |
4.9 |
0.7 |
Shear Zone |
|
|
|
|
|
|
Incl. |
271.8 |
273.7 |
1.9 |
1.5 |
|
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|
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|
|
347.5 |
357.6 |
10.1 |
0.8 |
Shear Zone |
|
|
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|
|
|
Incl. |
349.5 |
352.6 |
3.1 |
1.6 |
|
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|
|
370.0 |
370.6 |
0.6 |
14.8 |
QFP |
|
|
|
|
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|
|
398.6 |
414.7 |
16.1 |
1.4 |
Shear Zone/FP Dyke |
|
|
|
|
|
|
Incl. |
413.7 |
414.7 |
1.0 |
15.3 |
|
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17315-18-36 |
232500 |
5330050 |
180 |
-60 |
750 |
NSV |
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17315-18-37 |
232351 |
5330486 |
180 |
-85 |
878 |
166.5 |
172.4 |
5.9 |
0.6 |
Felsic Intrusif |
|
|
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|
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|
|
358.9 |
362.0 |
3.1 |
1.5 |
Shear Zone |
|
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|
|
416.9 |
420.7 |
3.8 |
2.8 |
Shear Zone |
|
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|
|
551.8 |
559.0 |
7.2 |
1.4 |
Shear Zone/QFP Dyke |
|
|
|
|
|
|
Incl. |
556.0 |
559.0 |
3.0 |
3.0 |
|
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|
|
|
|
744.5 |
750.8 |
6.3 |
4.8 |
Shear Zone |
|
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|
Incl. |
749.0 |
750.8 |
1.8 |
15.6 |
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17315-18-38 |
232299 |
5330470 |
180 |
-85 |
484 |
283.0 |
315.0 |
32.0 |
1.0 |
Bonnefond Tonalite |
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|
Incl. |
283.0 |
286.7 |
3.7 |
3.3 |
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361.0 |
366.1 |
5.1 |
4.9 |
Shear Zone |
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|
Incl. |
363.0 |
366.1 |
3.1 |
6.4 |
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426.0 |
435.0 |
9.0 |
3.0 |
Shear Zone |
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|
Incl. |
429.0 |
433.0 |
4.0 |
5.3 |
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17315-18-39 |
232249 |
5330497 |
180 |
-85 |
450 |
48.8 |
49.9 |
1.1 |
6.2 |
Quartz Vein |
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75.0 |
78.0 |
3.0 |
0.7 |
Shear Zone |
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106.5 |
111.3 |
4.8 |
1.5 |
Shear Zone |
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|
Incl. |
106.5 |
109.0 |
2.5 |
2.6 |
|
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143.7 |
145.2 |
1.5 |
1.9 |
Quartz Vein |
|
|
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|
|
220.0 |
221.0 |
1.0 |
72.7 |
Quartz Vein/Shear Zone |
|
|
|
|
|
|
|
264.0 |
360.8 |
96.8 |
1.8 |
Bonnefond Tonalite |
|
|
|
|
|
|
Incl. |
308.6 |
314.2 |
5.6 |
5.9 |
|
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|
|
|
|
Incl. |
325.0 |
329.0 |
4.0 |
7.7 |
|
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380.3 |
383.5 |
3.2 |
0.8 |
Quartz Vein |
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|
|
438.0 |
446.2 |
8.2 |
3.3 |
Shear Zone |
|
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|
|
Incl. |
443.2 |
446.2 |
3.0 |
7.7 |
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17315-18-40 |
232402 |
5330696 |
180 |
-60 |
727 |
328.7 |
332.1 |
3.4 |
0.5 |
Stockwork Vein |
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|
|
353.9 |
374.0 |
20.1 |
0.9 |
Stockwork Vein |
|
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|
|
|
|
Incl. |
359.0 |
365.0 |
6.0 |
1.9 |
|
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|
|
487,0 |
506.5 |
19.5 |
0.7 |
Shear Zone |
|
|
|
|
|
|
Incl. |
487.0 |
490.3 |
3.3 |
2.3 |
|
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|
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|
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|
|
538.0 |
541.7 |
3.7 |
1.2 |
Shear Zone |
|
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|
|
655.0 |
657.0 |
2.0 |
1.8 |
Shear Zone |
|
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NSV: No
Significant Value |
|
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* Reported
length are measured along the hole. Additional drilling and
interpretation will be needed to determine the true width of the
mineralized zones. |
** Au
uncut |
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