TORONTO, Sept. 24, 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 Bevcon target. The Bevcon target is located 4 kilometers southeast of QMX’s Bonnefond deposit, and 1.7 km southeast of the New Louvre target. The drill holes are located along the west half northern contact of the Bevcon Intrusion in the eastern portion of QMX’s extensive land package in Val d’Or, Quebec (Figure 1).
“These are outstanding results confirming our confidence in our strategy to follow up the right targets outside our Bonnefond mainstay where we recently released a resource statement,” states Dr. Andreas Rompel, VP Exploration, “and it encourages us in our strive to expand our total resource to include the Bevcon region.”
In 2017, QMX compiled the geological data of the Bevcon intrusion area and started a multi-phase reconnaissance and exploration drilling program. The program focused on the northern margin of the Bevcon intrusion to the west of the past producing mine and along an east-west deformation corridor north of the intrusion. The overall program consists of 28 drill holes for a total of 16,748 meters. The objective of the drilling program was to identify possible extensions of the Bevcon mine along the northern margin of the intrusive and the shear zone to the north.
Table 1: Highlights from the Bevcon drilling campaign
* Reported length measured along the hole.
** Au uncapped
The northern margin of the Bevcon Intrusion hosts the former Bevcon mine (438,250 ounces of gold grading 4.3 g/t Au from 1951 to 1965, MERN-SIGEOM). Gold is associated with a complex Quartz-Tourmaline vein system and dykes within the intrusion’s northern contact, which was mined over a strike length of more than 1,000m and to a depth of 680m.
Compilation of geological data and the interpretation of the high-resolution airborne magnetic survey identified a series of NW-SE striking structures intersecting the intrusion’s contact and possibly related to the mineralization. In that context, from west to east, drill hole 17311-18-018 intersected 11.4 g/t Au over 1.2m in a deformation zone in the volcanic rocks close to the intrusive contact. Drill hole 17311-18-017 returned 10.8 g/t Au over 4.3m; drill hole 17311-18-015 returned 84.8 g/t Au over 6.0m, including 137.5 g/t Au over 3.7m and on the same section, drill hole 17311-18-010 returned 24.1 g/t Au over 0.8m; finally drill hole 17311-18-028 returned 8.2 g/t Au over 1.2m; all of these intersections are located in the intrusive close to the northern margin.
Drill holes 17311-17-008 and 17311-18-021; 023; 024; 025; 026 were drilled to explore the large deformation corridor located north of the Bevcon intrusive. Several small mineralized zones were intersected but none warrant follow up at this time (Table 2).
Gold mineralization in the Bevcon intrusive is known to extend below 1000m according to the mine’s historic records. In 2018, QMX released the results of hole 17311-17-008, which intersected 9.0 g/t over 6.8m below the last level of mine (QMX Gold NR May 10th, 2018), confirming the historical records. The Bevcon Intrusion is a large and underexplored system located on the eastern side of the Bonnefond - New Louvre - Bevcon trend in QMX’s East Zone. QMX intends to conduct more exploration on this target.
Figure 1: QMX’s Extensive and Target-Rich Land Package: https://www.globenewswire.com/NewsRoom/AttachmentNg/9631be18-0629-4c0f-9e54-ca7dc6392bf9
Figure 2: Bevcon Target QMX Gold Intersections: https://www.globenewswire.com/NewsRoom/AttachmentNg/a9516669-8736-40cb-a0ef-068cc1a96343
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.
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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.
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Table 2: Assay results from the Bevcon Target – East Zone
* Reported length measured along the hole. Additional drilling is needed to determine the true width of the mineralized zones
|Hole Number||Az / Dip||Length
|17311-17-003||180/-80||464.5||No significant values|
|17311-17-006||180/-80||591.0||No significant values|
|816.6||823.4||6.8||8.97||70m below Bevcon mine's deepest level.|
|17311-18-011||180/-80||264.0||No significant values|
|17311-17-014||180/-80||530.0||No significant values|
|17311-18-016||180/- 80||683.0||No significant values|
|17311-18-023||180/-75||609.0||No significant values|