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QMX Gold Corp
Symbol QMX
Shares Issued 199,767,492
Close 2019-08-21 C$ 0.065
Market Cap C$ 12,984,887
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QMX Gold drills 3.7 m of 6.6 g/t Au at Val d'Or

2019-08-22 06:35 ET - News Release

Mr. Brad Humphrey reports

QMX GOLD INTERSECTS 6.6 G/T GOLD OVER 3.7 METRES AND 10.9 G/T GOLD OVER 2.5 METRES ON NEW LOUVRE TARGET IN VAL D'OR

QMX Gold Corp. has released assay results from the reconnaissance drilling program on the New Louvre target. The drill holes are located north of the Bevcon intrusion and southeast of the Bonnefond South intrusive in the eastern portion of QMX's extensive land package in Val d'Or, Que.

Highlights include:

  • Drill hole 17315N-18-007 returned 6.6 grams per tonne gold (g/t Au) over 3.7 metres (m);
  • Drill hole 17315N-18-008 returned 14.0 g/t Au over 1.4 m;
  • Drill hole 17315N-18-017 returned 21.5 g/t Au over 0.9 m;
  • Drill hole 17315N-18-018 returned 10.9 g/t Au over 2.5 m.

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," said 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 1.3 km to the northwest 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 chief executive officer, 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."

New Louvre target

The New Louvre tonalite sill is located north of the Bevcon intrusion and southeast of the Bonnefond South intrusion. The intrusion has a strike length of 2.2 kilometres and an average width of 70 to 80 m (maximum 200 m thickness). The sill dips steeply to the north at 70 degrees 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 east-west-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.

Results are from a two-phase 9,150-metre drilling program on the New Louvre target. The program was designed to evaluate the geometry of the two 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.

Quality control

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, pulp metallic assays from all the pulverized material were completed.

Qualified persons

The scientific and technical content of this press release has been reviewed, prepared and approved by Melanie Pichon, PGeo, MSc, exploration manager, QMX Gold, who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About QMX Gold Corp.

QMX Gold is a Canada-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 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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