QMX Intersects Strong Initial Results From the River Target; 39.8 g/t Gold Over 2.0 Metres and 17.71 g/t Gold Over 4.0 Metres...
January 29 2020 - 6:30AM
QMX Gold Corporation (“QMX” or the “Company”)
(TSX:V:QMX) is pleased to release the first results from its
reconnaissance drilling program on the River Target (Table 1). The
River Target is located west of the Lac Herbin mine in the
Bourlamaque batholith on the western side of QMX’s extensive land
package in Val d’Or, Quebec (Figure 2).
The following results contain the first three
(3) drill holes of the Fall 2019 reconnaissance drilling program on
the River Target (Figure 1). This initial program consists of seven
(7) drill holes for a total of 1,130 metres. The results of the
remaining four (4) drill holes will be released once all the assays
are back from the laboratory.
“We are delighted that we immediately achieved
high grade gold intersections in the first three drill holes on our
new River target,” says Dr. Andreas Rompel, Vice President
Exploration. “This gives us great optimism and encouragement to
continue with our structural target delineation in general and for
the River target in particular, where we anticipate establishing
additional resources to our already substantial Bonnefond
resource.”
Highlights include (lengths are
measured along the holes, Table 1):
- DDH 17421-19-045 returned 7.76 g/t Au over
2.9m.
- DDH 17421-19-046 returned 39.83 g/t Au over
2.0m.
- DDH 17421-19-047 returned 17.71 g/t Au over
4.0m.
River Target
The River Target is located in the Bourlamaque
Zone, roughly 1 kilometer (km) west of the Lac
Herbin-Dumont-Ferderber gold system that produced a total of
793,000 ounces of gold historically. The target was discovered in
2011 and had not been followed up since. The gold mineralization is
hosted by Quartz-Tourmaline veins with pyrite in shear zones in the
Bourlamaque batholith. The objective of the program is to evaluate
the continuity of the grades and structures.
Another round of drilling will be planned on
this target once all the assays are back and the 3D modeling is
completed.
Table 1: Highlights from the River Target
Hole Number |
From(metre) |
To(metre) |
Length*(metre) |
Au**(g/t) |
Remarks |
17421-19-045 |
156.4 |
159.3 |
2.9 |
7.76 |
Quartz-Tourmaline Vein |
17421-19-046 |
161.3 |
163.3 |
2.0 |
39.83 |
Quartz-Tourmaline Vein |
17421-19-047 |
25.0 |
29.0 |
4.0 |
17.71 |
Quartz-Tourmaline Vein |
|
|
|
|
|
|
* 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. 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 and approved by Mélanie
Pichon, P.Geo, M.Sc, Exploration Manager, 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 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
the Bourlamaque batholith. In addition to its extensive land
package QMX owns the strategically located Aurbel gold mill and
tailings facility.
Contact Information: |
|
|
Brad Humphrey |
|
Louis Baribeau |
President and CEO |
|
Public Relations |
Tel: (416) 861-5887 |
|
Tel: (514) 667-2304 |
Toll 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, granting of stock options 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 DDH 45; 46 and
47.
Hole Number |
Azimuth |
Dip |
Hole |
From |
To |
Length* |
Au** |
Remarks |
|
(°) |
(°) |
Length |
(metre) |
(metre) |
(metre) |
(g/t) |
|
|
|
|
(metre) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17421-19-045 |
360 |
-55 |
222 |
156.4 |
159.3 |
2.9 |
7.76 |
Qtz-Tm vein |
|
|
|
|
190.3 |
192.3 |
2.0 |
10.48 |
Qtz-Tm vein |
|
|
|
|
|
|
|
|
|
17421-19-046 |
360 |
-55 |
220 |
161.3 |
163.3 |
2.0 |
39.83 |
Qtz-Tm vein |
|
|
|
|
182.0 |
184.8 |
2.8 |
6.58 |
Qtz-Tm vein |
|
|
|
|
196.4 |
198.5 |
2.1 |
1.92 |
Qtz-Tm vein |
|
|
|
|
|
|
|
|
|
17421-19-047 |
360 |
-55 |
100 |
25.0 |
29.0 |
4.0 |
17.71 |
Qtz-Tm vein |
|
|
|
|
|
|
|
|
|
* Reported length are measured along the hole. ** Au
uncapped
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/eebf7f9f-7695-42f8-bfff-09868d49daae
https://www.globenewswire.com/NewsRoom/AttachmentNg/37b71926-8edf-45b9-86e4-572b51fdf86a
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