QMX Gold Corporation (“
QMX” or
the “
Company”) (TSX:V:QMX) is pleased to report
the final results from its winter drilling campaign on its
Bonnefond target (Figure 1). Bonnefond is located on the Val d’Or
East Zone of QMX’s extensive land package in Val d’Or, Quebec
(Figure 2). Ten holes are reported covering results from the second
half of the definition drilling program on the Bonnefond target.
This program supports an initial resource estimate scheduled for
release in early summer 2019.
Highlights include:
Shear Zone in
Volcanics (lengths are measured along the holes):
- Drill hole 17315-19-077 returned 5.85 g/t Au over
6.7m.
- Drill hole 17315-19-079 returned 14.65 g/t Au over
1.4m.
- Drill hole 17315-19-080 returned 41.69 g/t Au over 4.3m
including, 114.48 g/t over 1.4m.
These results are part of a 50m x 50m infill
drilling program on the western side of the Tonalite intrusion
between the surface and 400m depth. The last ten holes of the
program focused on the mineralized shear zones located south of the
Bonnefond intrusion.
The last ten drill holes confirmed the
geological model south of the intrusion, the continuity of the
mineralization and the gold grades in the shear zones. Within these
shear zones, gold grades are associated with
quartz-carbonate-tourmaline veins and strong
sericite-albite-fuchsite alteration.
Results from the shear zones include 5.85 g/t Au
over 6.7m in drill hole 17315-19-077; 14.65 g/t Au over 1.4m in
drill hole 17315-19-079 and 3.10 g/t over 4.5m in drill hole
17315-19-074.
Drill hole 17315-19-080 intersected
41.69 g/t Au over 4.3m, including 114.48g/t Au over 1.4m. The drill
hole is located 55 meters south of previously reported drill hole
17315-18-034 that cut 25.7g/t Au over 6.9m (QMX's news release from
July 18th, 2018). According to the geological interpretation, these
results are located on the same mineralized shear zone and
demonstrate the economic potential of the shear system to the south
of the Bonnefond intrusion.
Dr. Andreas Rompel, Vice President Exploration,
commented “These encouraging results confirm our confidence in the
high-grade nature of the mineralization in and around the prolific
Bonnefond intrusion. Furthermore, these results should be reflected
positively in our initial resource estimation, which will be
finalized during the next few months.”
“2019 is an exciting year for QMX with the
initial resource estimate at Bonnefond expected shortly and the
mill progressing towards start up later in the summer. At the same
time our team continues to evaluate and develop additional
promising targets across our extensive land package in Val d’Or and
assess further custom milling opportunities growing our cash flow
potential from this strategically located asset,” commented Brad
Humphrey, President and CEO of QMX Gold.
With the infill drilling program on the
Bonnefond target now complete, QMX has initiated a National
Instrument 43-101 - Standards of Disclosure for Mineral Projects
("NI 43-101") resource estimate which is expected by early summer
2019.
Table 1: Highlights from the Bonnefond
Target
Hole Number |
From(metre) |
To(metre) |
Length*(metre) |
Au**(g/t) |
Remarks |
17315-19-077 |
108.9 |
115.6 |
6.7 |
5.85 |
South Shear zone |
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|
|
|
|
|
17315-19-079 |
152.7 |
154.1 |
1.4 |
14.65 |
South Shear zone |
|
|
|
|
|
|
17315-19-080 |
279.8 |
284.1 |
4.3 |
14.65 |
South Shear zone |
Incl. |
279.8 |
281.2 |
1.4 |
114.48 |
|
|
|
|
|
|
|
* Reported length measured along the hole. ** Au uncapped
Quality Control
During the drilling program, assay samples were
taken from the NQ core and sawed in half. One half is sent to
Swaslab Ltd. or Agat Laboratories. Both are certified commercial
laboratories. The other half of the core is retained for future
reference. A strict quality assurance and quality control program
was applied to all samples; which included insertion of mineralized
standards, blank samples and duplicates inside each batch of 20
samples. The gold analyses were completed by fire-assay with an
atomic absorption finish on 50 grams of material. Repeats were
carried out by fire-assay with a gravimetric finish on each sample
containing 5.0 g/t Au or more. The gold analyses were undertaken by
fire-assay on 50 grams of pulp with an atomic absorption finish.
Repeats were carried out by fire-assay with a gravimetric finish on
each sample containing 5.0 g/t Au or more.
Qualified Persons
The scientific and technical content of this
press release has been reviewed, prepared, verified and approved by
Mélanie Pichon, P.Geo, M.Sc, Exploration Manager, who is a
"Qualified Person" as defined by NI 43-101.
About QMX Gold Corporation
QMX Gold Corporation is a Canadian based
resource company traded on the TSX Venture Exchange under the
symbol “QMX”. The Company 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
portion of its land package focused on the Bonnefond plug and in
and around the Bevcon Intrusive. In addition to its extensive land
package QMX owns the strategically located Aurbel gold mill and
tailings facility, which is expected to commence custom milling in
2019.
Contact Information: |
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
Email: info@qmxgold.ca |
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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, an initial resource estimate, 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: Results from holes 74 to 84 -
Bonnefond South Target
Hole Number |
Azimuth |
Dip |
Hole |
From |
To |
Length* |
Au** |
|
Remarks |
|
(°) |
(°) |
Length |
(metre) |
(metre) |
(metre) |
(g/t) |
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(metre) |
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17315-19-074 |
180 |
-85 |
126 |
85.2 |
89.7 |
4.5 |
3.10 |
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South Shear zone |
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114.0 |
116.1 |
2.1 |
1.68 |
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South Shear zone |
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17315-19-075 |
180 |
-60 |
258 |
78.6 |
81.4 |
2.8 |
1.43 |
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South Shear zone |
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154.4 |
156.6 |
2.2 |
1.12 |
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South Shear zone |
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17315-19-076 |
180 |
-60 |
246 |
87.8 |
97.0 |
9.2 |
1.78 |
|
South Shear zone |
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17315-19-077 |
180 |
-85 |
159 |
108.9 |
115.6 |
6.7 |
5.85 |
|
South Shear zone |
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143.1 |
149.0 |
5.9 |
2.63 |
|
South Shear zone |
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17315-19-078 |
180 |
-85 |
165 |
122.8 |
129.6 |
6.8 |
0.87 |
|
South Shear zone |
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17315-19-079 |
180 |
-85 |
261 |
135.0 |
137.2 |
2.2 |
1.57 |
|
South Shear zone |
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152.7 |
154.1 |
1.4 |
14.65 |
|
South Shear zone |
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173.6 |
176.5 |
2.9 |
3.85 |
|
South Shear zone |
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17315-19-080 |
180 |
-60 |
300 |
257.0 |
259.7 |
2.7 |
1.73 |
|
South Shear zone |
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|
279.8 |
284.1 |
4.3 |
41.69 |
|
South Shear zone |
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Incl. |
279.8 |
281.2 |
1.4 |
114.48 |
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17315-19-081 |
180 |
-60 |
210 |
140.1 |
157.7 |
17.6 |
0.66 |
|
South Shear zone |
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Incl. |
144.8 |
148.6 |
3.8 |
1.50 |
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17315-19-082 |
180 |
-60 |
207 |
148.0 |
167.1 |
19.1 |
0.74 |
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South Shear zone |
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Incl. |
148.0 |
153.5 |
5.5 |
1.07 |
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17315-19-083 |
180 |
-60 |
225 |
97.0 |
99.4 |
2.4 |
2.39 |
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South Shear zone |
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156.5 |
166.4 |
9.9 |
1.21 |
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South Shear zone |
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174.3 |
177.0 |
2.7 |
1.08 |
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South Shear zone |
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17315-19-084 |
180 |
-85 |
201 |
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No significant results |
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* Reported length are measured along the hole. ** Au
uncapped
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/a6f19eba-4cd8-4b09-b28c-56f3dd6a625a
https://www.globenewswire.com/NewsRoom/AttachmentNg/03e35f63-5902-43f2-bfa9-f5f98358424a
https://www.globenewswire.com/NewsRoom/AttachmentNg/caa6e9f7-ad35-4764-8442-85f607e2ef1e
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