TORONTO, Aug. 22, 2019 (GLOBE NEWSWIRE) -- QMX Gold Corporation (“QMX” or the “Company”) (TSX:V:QMX) is pleased to report assay results from the reconnaissance drilling program on the New Louvre target. The drill holes are located north of the Bevcon Intrusion and south east of the Bonnefond South Intrusive in the eastern portion of QMX’s extensive land package in Val d’Or, Quebec (Figure 1).
Given these positive results and its close proximity to the Bonnefond deposit, QMX is planning to do more exploration on the New Louvre target as part of a larger exploration program in the general Bonnefond area.
“We are excited that we continue drilling high grade intersections in additional targets to our already tested Bonnefond deposit with its recent resource statement,” says Dr. Andreas Rompel, Vice President exploration, “and it confirms our exploration strategy and target selection well.”
“We continue to be very encouraged by the results out of the East Zone, particularly following our recently announced maiden resource at Bonnefond, just 1.3km to the North West of New Louvre. Our exploration team continues to systematically explore our numerous targets across the East and Bourlamaque Zones and are actively working to upgrade and expand the Bonnefond resource.” Brad Humphrey, President and CEO, commented “We also continue to focus on the restart at our Aubel Mill with the permit amendment required to commence the processing of Gowest’s Bradshaw ore progressing well and, discussions with other potential custom milling contracts continue to advance.”
Figure 1: QMX’s extensive and target-rich land package: https://www.globenewswire.com/NewsRoom/AttachmentNg/cb48965a-a1a6-4c3f-85cb-a4eada60e649
New Louvre Target
The New Louvre Tonalite Sill is located north of the Bevcon Intrusion and southeast of the Bonnefond South Intrusion (Figure 1). The intrusion has a strike-length of 2.2km and an average width of 70-80m (maximum 200m thickness). The sill dips steeply to the north at 70° and is sheared on both contacts with the country rock. Alteration and deformation associated with the mineralization are similar to the ones observed at the Bonnefond South Intrusion.
The gold mineralization appears to be controlled by E-W striking shear zones, which dip to the south. Gold mineralization is controlled by quartz-tourmaline veins and stockworks near the shear zones. It is associated with albite, sericite and tourmaline alterations and disseminated pyrite mineralization. The New Louvre sill and shear zones are interpreted as being part of the same system as the mineralized shear zones south of the Bonnefond Intrusive.
Table 1: Highlights from the New Louvre Target: https://www.globenewswire.com/NewsRoom/AttachmentNg/fd3dea19-b51c-4e93-bcca-dcffde2590fb
Results are from a two phase 9,150m metres drilling program on the New Louvre target (Figure 2). The program was designed to evaluate the geometry of the 2 km gold-bearing tonalitic sill, test the extension of the mineralization and validate the geological model. These encouraging results and the proximity to the Bonnefond South deposit make New Louvre one of QMX’s main exploration targets for the upcoming winter drilling season.
Figure 2: New Louvre Target - Intercepts: https://www.globenewswire.com/NewsRoom/AttachmentNg/974e9081-a475-416f-9cfd-449fc05255d8
During the drilling program, assay samples were taken from the NQ core and sawed in half. One-half was sent to AGAT Laboratory or Swaslab Ltd., a certified commercial laboratory, and the other half retained for future reference. A strict QA/QC program was applied to all samples which included insertion of mineralized standards and blank samples in each batch of 20 samples. Gold content was determined by fire-assays 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. When visible gold was observed, a Pulp Metallic assays from all the pulverized material was completed.
The scientific and technical content of this press release has been reviewed, prepared and approved by Mélanie Pichon, P.Geo, M.Sc, Exploration Manager, 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 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.
|Brad Humphrey||Louis Baribeau|
|President and CEO||Public Relations|
|Tel: (416) 861-5887||Tel: (514) 667-2304|
|Toll free: +1 877-717-3027||Email: firstname.lastname@example.org||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.
Table 2: Assay results from the New Louvre Target – East Zone: https://www.globenewswire.com/NewsRoom/AttachmentNg/80096a29-1c80-4534-a53b-eb1010d2ebcb