QMX Gold Intersects 29.8 g/t Au Over 3.0 Meters and 19.3 g/t Au Over 3.2 Meters at Bonnefond

2019-01-08 / @nasdaq

 

TORONTO, Jan. 08, 2019 (GLOBE NEWSWIRE) -- QMX Gold Corporation (“QMX” or the “Company”) (TSX:V:QMX) is pleased to report the results from its on-going Bonnefond South target drilling program, on the Val d’Or East Zone of QMX’s extensive land package in Val d’Or, Quebec (Figure 2). This third phase of drilling contained ten (10) drill holes totaling 5460 meters (m). It was designed to understand the geometry and continuity of the shear zones and the mineralization inside the Bonnefond plug.

Figure 1
Bonnefond South Target – First Results from the Summer-Fall Drilling program


Figure 2
QMX’s extensive and target rich land package


Highlights include:

In the Tonalitic Plug (reported length measured along the holes):

  • Drill hole 17315-18-052 returned 1.59 g/t Au over 129.0m.
  • Drill hole 17315-18-054 returned 1.11 g/t Au over 132.5m, including 29.85 g/t Au over 3.0m.
  • Drill hole 17315-18-055 returned 1.42 g/t Au over 77.8m.
  • Drill hole 17315-18-056 returned 1.15 g/t Au over 144.8m, including 19.35 g/t Au over 3.2m.

Shear Zone in Volcanics (reported length measured along the holes):

  • Drill hole 17315-18-051 returned 4.67 g/t Au over 4.6m including 15.60 g/t Au over 1.0m.
  • Drill hole 17315-18-052 returned 3.29 g/t Au over 1.5m and 4.67 g/t Au over 1.4m.
  • Drill hole 17315-18-054 returned 5.29 g/t Au over 2.5m and 3.05 g/t Au over 2.0m
  • Drill hole 17315-18-055 returned 5.98 g/t Au over 3.6m.
  • Drill hole 17315-18-060 returned 3.10 g/t Au over 5.0m, including 5.10 g/t Au over 1.8m

These latest results confirmed the continuity of the mineralization in the Bonnefond intrusive and the presence of high-grade zones within the broad envelop with drill hole 17315-18-054 assaying 1.11 g/t Au over 132.5m including 29.85 g/t Au over 3.0m and drill hole 17315-18-056 assaying 1.15 g/t Au over 144.8m including 19.35 g/t Au over 3.2m. The average true width of the mineralized envelop is 60m and extends 300m east-west.

Dr. Andreas Rompel, Vice President Exploration, commented “We are very excited about these results as they confirm the high-grade nature of the mineralization in and around the Bonnefond South target. We are looking forward to initiating the resource estimation process in this highly prolific area.”

These drill holes also confirm the presence of mineralized shear zones south of the intrusive. Based on the latest results, at least three mineralized east-west striking shear zones, dipping to the north have been identified south of the Bonnefond intrusive. Latest intercepts in the shear zones have returned 3.1 g/t over 5.0m, including 5.1 g/t over 1.8m in drill hole 17315-18-060; 4.67 g/t Au over 4.6m in drill hole 17315-18-051 and 5.98 g/t Au over 3.6m in drill hole 17315-18-055.

Recent drilling has also confirmed the presence of gold mineralization in at least two shear zones north of the Bonnefond intrusive, with intercepts of 3.29 g/t Au over 1.5m and 4.67 g/t Au over 1.4m in drill hole 17315-18-052, and 1.71 g/t Au over 5.9m including 3.05 g/t Au over 2.0m in drill hole 17315-18-054. The gold grades in the shear zones are associated with quartz veins with strong sericite alteration and pyrite mineralization.

Table 1: Highlights from the Phase 3 on Bonnefond South Target

Hole NumberFromToLength*Au**Remarks
 (metre)(metre)(metre)(g/t) 
17315-18-051 313.8318.44.64.67Shear zone
 Incl:315.8316.81.015.6 
      
17315-18-052121.4122.91.53.29North Shear zone
 161.0162.41.44.67North Shear zone
 191.0320.01291.59Bonnefond intrusive
      
17315-18-054191.6197.55.91.71North Shear zone
  Incl:191.6193.62.03.05 
 241.5374.0132.51.11Bonnefond intrusive
 Incl:325.0328.03.029.85 
 396.5399.02.55.29Shear zone
      
17315-18-05582.1159.977.81.42Bonnefond intrusive
 232.2235.83.65.98Shear zone
      
17315-18-056170.4315.2144.81.15Bonnefond intrusive
 176.4179.63.219.35 
      
17315-18-060463.0472.09.02.25Shear zone
  Incl:467.0472.05.03.1 
Incl: 467.0468.81.85.14 
* Reported length measured along the hole. 
** Au uncut
      

Figure 1: Bonnefond South Target – First Results from the Summer-Fall Drilling program

http://www.globenewswire.com/NewsRoom/AttachmentNg/38a28aab-0607-43e1-83fa-2010e29c4eae

2019 Fall - Winter Drilling Program

QMX Gold has recently started an infill drilling campaign totaling 2500m to support an initial resource estimate scheduled for early 2019.

Corporate Updates

QMX Hosting a Corporate Update Webinar, January 10th at 2:00pm ET

QMX will be hosting a Webinar with management to discuss an overview of the Company, recent activities and plans for 2019. The corporate presentation can be found on the Company’s website at www.qmxgold.ca.

The Webinar will be hosted by Brad Humphrey (President and CEO) on Thursday, January 10th at 2:00pm ET. Brad will be available to answer questions following the presentation. To ask a question, you will need to log-in to the Readytalk Platform (http://www.readytalk.com/join) and submit the question directly into the chat module.

For a calendar invite to the webinar, please email jborde@rbmilestone.com. Online access and dial-in numbers are as follows:

Webinar Platform (access at the time of event):
      http://www.readytalk.com/join
      Access code: 5147677
Dial-In Numbers:
      Canada: +1-647-722-6839
      United States: +1-303-248-0285
      Access Code: 5147677

Corporate Secretary Appointment

The Company is pleased to announce that is has appointed Kenny Choi as the Corporate Secretary of the Company. Mr. Choi is a corporate lawyer who is corporate secretary and legal consultant to various TSX and TSX Venture listed companies in the mining and technology industries. He was previously an associate at a large Toronto corporate law firm, where he worked on a variety of corporate and commercial transactions. Mr. Choi studied at Western University, where he obtained a Juris Doctor from the Faculty of Law and an Honours Business Administration degree from the Ivey Business School.

Options Grant

QMX has granted a total of 3,500,000 stock options to certain officers, directors and consultants of the Company pursuant to the Company’s stock option plan. The stock options vest immediately and may be exercised at a price of $0.09 per option for a period of five years from the date of grant. This grant of options is subject to the approval of the TSX Venture Exchange.

Qualified Persons

The scientific and technical content of this press release has been reviewed, prepared and approved by Mélanie Pichon, P.Geo, M.Sc, Director of  exploration of 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.

Contact Information:
Brad Humphrey         
President and CEO    
Tel: (416) 861-5887   

Louis Baribeau
Public Relations
Tel: (514) 667-2304
Toll free: +1 877-717-3027   
Email: info@qmxgold.ca      
Website: www.qmxgold.ca

United States Investor Contact
Trevor Brucato
RB Milestone Group LLC
New York, NY & Stamford, CT
tbrucato@rbmilestone.com

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.


Figure 2: QMX’s extensive and target rich land package

http://www.globenewswire.com/NewsRoom/AttachmentNg/1995df48-b254-4b94-bcd6-95a5d3c24705

Table 2: Results from holes 51 to 60 - Bonnefond South Target

Hole NumberMTN Zone 9MTM Zone 9AzimuthDipHoleFromToLength*Au** Remarks
 Nad 83Nad 83(°)(°) Length(metre)(metre)(metre)(g/t)  
 EastingNorthing  (metre)      
            
17315-18-0512321505330370180-8535177.985.57.61.23 Bonnefond intrusive
      157158.71.76.01 Shear zone
      313.8318.44.64.67 Shear zone
            
17315-18-0522321515330469180-85600121.4122.91.53.29 North Shear zone
      161162.41.44.67 North Shear zone
      1913201291.59 Bonnefond intrusive
     Incl.205.4207.82.48.22  
     Incl.215.2216.21.061.60  
     Incl.302.2303.21.024.50  
     Incl.442.5444.52.03.09  
            
17315-18-0532321555330531180-85699288.6451.8163.20.86 Bonnefond intrusive
     Incl.307.1328.121.01.68  
     Incl.358.1364.16.02.90  
     Incl.370.1376.16.02.80  
      469.4474.65.21.74 Shear zone
     Incl.471.4473.62.23.81  
      529.6536.46.81.80 Shear zone
     Incl.529.6534.44.82.39  
      624.2627.93.71.23 Shear zone
     Incl.626.2627.91.72.48  
            
17315-18-0542322005330549180-75750191.6197.55.91.71 North Shear zone
     Incl.191.6193.62.03.05  
      241.5374132.51.11 Bonnefond intrusive
     Incl.3253283.029.85  
      396.53992.55.29 Shear zone
            
17315-18-0552321915330400180-8555282.1159.977.81.42 Bonnefond intrusive
     Incl.85.288.93.76.70  
     Incl.114.3119.14.83.02  
     Incl.156159.93.93.96  
      232.2235.83.65.98 Shear zone
* Reported length are measured along the hole. 
** Au uncut
 

Table 2 continued: Results from holes 51 to 60 - Bonnefond South Target

Hole NumberMTN Zone 9MTM Zone 9AzimuthDipHoleFromToLength*Au** Remarks
 Nad 83Nad 83(°)(°) Length(metre)(metre)(metre)(g/t)  
 EastingNorthing  (metre)      
            
17315-18-0562321005330457180-85550170.4315.2144.81.15 Bonnefond intrusive
     Incl.176.4179.63.219.35  
            
17315-18-0572321005330501180-85450199.4206.16.71.19 North Shear zone
      285.2397.3112.10.42 Bonnefond intrusive
     Incl.354.5358.54.02.63  
     Incl.383.8386.22.42.43  
            
17315-18-0582320495330442180-85378218.523011.51.04 Bonnefond intrusive
      271.5273.21.73.04 Shear zone
            
17315-18-0592320525330495180-855402882913.01.40 Shear zone
      437450.313.31.49 Shear zone
     Incl.4454461.04.52  
            
17315-18-0602320475330545180-855914634729.02.25 Shear zone
     Incl.4674725.03.10  
     Incl.467468.81.85.14  
* Reported length are measured along the hole. 
** Au uncut
 

 

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