TORONTO, Oct. 25, 2018 (GLOBE NEWSWIRE) — QMX Gold Corporation (“QMX” or the “Company”) (TSX:V:QMX) is pleased to release results from the Bonnefond South drill program. Bonnefond South is located in the Val d’Or East Zone (Figure 1) of QMX Gold’s extensive land package in Val d’Or, Quebec. These holes are part of a Phase II drilling program which consisted of 17 diamond drill holes totaling 9,636 metres (m).
South Shear Zone:
Interpretation and evaluation are on-going as these new results are integrated into the drill hole database. A third phase of infill drilling is currently being completed in order to understand the geometry and continuity of the shear zones intersecting the Bonnefond plug. An additional diamond drill program of 6,000m has commenced to support an initial resource estimate and to further evaluate the mineralized shear zones. This program is scheduled to be completed early in 2019.
Brad Humphrey, President and CEO, commented “We are very pleased with the results from the Bonnefond South drilling programs, which confirm continuous and thick gold mineralization within the Bonnefond plug and higher-grades in the shear zones to the east and south. Once we complete the Fall drilling program, Bonnefond will move towards its initial resource estimate. At the same time, QMX continues to actively explore additional highly prospective targets in Val d’Or East and plans are underway to restart drilling on the Bourlamaque Zone.”
Figure 1: QMX Gold’s Val d’Or Properties
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3db2a125-7cf0-410c-bc89-844ba34e433d
Assays from the 2018 Drilling Program – Bonnefond South
Highlights from these eleven holes completed during the Winter-Spring drilling program are presented in the Table 1 and Figure 2 (complete results are shown in Table 2).
Drill holes 17315-18-40, 41, 42, 44, 46 and 47 were designed to test the eastern extension of the Bonnefond gold-bearing system. These intersected strong shear zones highly anomalous in gold, similar to those intersected to the south of the Bonnefond plug. A zone of felsic to intermediate intrusives could represent the eastern extension of the Bonnefond prolific mineralized dyke system.
Drill holes 17315-18-43, 45, 48, 49 and 50 were drilled to evaluate the Bonnefond plug down to 300m, and the geometry and continuity of the shear zones to the south. These holes are located on the same section as drill hole 17315-18-39 (reported on July 18th, 2018) with 50m spacing. These holes intersected very similar geology, confirming the continuity of the mineralization with gold intercepts of 1.8 g/t Au over 96.8m, 1.0 g/t Au over 134m, 1.7 g/t Au over 131.3m and 1.6 g/t Au over 30.7m, respectively. The gold-bearing zone on this section shows a true thickness of approximately 60m and dips at 70º to the north.
A preliminary geological interpretation suggests the presence of shear zones dipping southwards and intersecting the Bonnefond plug, creating zones with high values and strong thickness. Additional drilling is currently being completed to confirm the orientation and continuity of these structures. Gold assays of over 0.5 g/t Au seem well and uniformly distributed within the Bonnefond plug.
Table 1: Highlights from the Bonnefond South Results
* Reported length are measured along the hole.
Figure 2: Bonnefond South – Final Results from the Winter-Spring Drilling Programs
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/bc07a835-944a-469d-b78a-4b8767346a18
A complete interpretation of the data from the on-going drilling programs is underway to confirm the various shear zone continuities and orientations and to delineate high-grade zones within the Bonnefond plug. All drill holes are surveyed at the end of the campaign using the Optical and Acoustic Imaging tools (wireline logging) to determine the direction and dip of the different structures.
Fall-Winter Drilling Program
During the Fall and Winter, QMX plans to drill a 6000m program in order to complete an initial resource estimate for the Bonnefond plug and adjacent mineralized shear zones. The resource estimate will commence as soon as the drilling campaign is 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 for QMX Gold Corp. and 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 has a strong balance sheet and 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 camp portion of its land package focused on the Bonnefond intrusive and in and around the Bevcon Intrusive. In addition to its extensive land package. QMX owns the Aurbel gold mill.
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: Results from Holes 40 to 50 – Bonnefond South Target
* Reported length are measured along the hole.
QMX Gold Corp.