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The following assays are from the first batch of drilling results of the 2020 exploration drilling program on the River Target (Figure 1). The ongoing 2020 exploration program, which consists of twenty-seven drill holes for a total of 8,500 metres, is progressing towards the west and is expected to be completed before year end.
Highlights include (lengths are measured along the holes, Table 1):
- DDH 17421-20-056 returned 2.78 g/t Au over 10.5m, including 17.60 g/t Au over 1.0m and 44.40 g/t Au over 1.5m in a second mineralized zone.
- DDH 17421-20-059 returned 3.93 g/t Au over 5.3m, including 4.78 g/t Au over 1.2m and 11.01 g/t Au over 1.3m.
- DDH 17421-20-066 returned 15.60 g/t Au over 3.8m.
“We are very happy to be able to continue the strong results fromthe RiverTarget,” stated Dr.
The River target is located in the
The gold mineralization is hosted by Quartz-Tourmaline veins with pyrite in shear zones in the Bourlamaque batholith. Late in 2019, QMX conducted a seven drill hole reconnaissance program of a total of 1,100m to evaluate the continuity of the grades and structures (see press releases dated
The best intersections returned to date from the 2020 follow up exploration program were in DDH 056 with 2.78 g/t Au over 10.5m including 17.60 g/t Au over 1.0m; DDH 059 intersected 3.93 g/t Au over 5.3m including 4.78 g/t Au over 1.2m and 11.01 g/t Au over 1.3m and DDH 066 intersected 15.60 g/t Au over 3.8m.
Several drill holes cut a second mineralized shear zone 20m to 50m north of the River target, including in DDH 056 which intersected 44.40 g/t Au over 1.5m.
As we await further assay results, QMX is completing the remaining holes of the 2020 River Target drilling campaign and is now focused on the western extension of the River Target. Drilling, to date, on the eastern extension intersected the targeted shear zone structure but did not intersect significant mineralization. The mineralized zones appear to trend to the west of previous drilling. Once the 2020 exploration drilling program is completed, QMX will conduct wireline surveys of the drill holes to collect structural measurements with the use of optical and acoustic televiewers, validate the 3D model and design a second, more focused, phase of exploration drilling.
Table 1: Highlights from the River Target
Hole Number | From (metre) | To (metre) | Length* (metre) | Au** (g/t) | Comment |
17421-2020-056 | 114.5 | 125.0 | 10.5 | 2.78 | Quartz vein |
Incl. | 114.5 | 115.5 | 1.0 | 17.60 | |
17421-2020-056 | 169.5 | 171.0 | 1.5 | 44.40 | Quartz vein |
17421-2020-059 | 145.8 | 151.1 | 5.3 | 3.93 | Quartz vein |
Incl. | 145.8 | 147.0 | 1.2 | 4.78 | |
Incl. | 149.8 | 151.1 | 1.3 | 11.01 | |
17421-2020-066 | 109.7 | 113.5 | 3.8 | 15.60 | Quartz vein |
* Reported length measured along the hole. ** Au uncapped | |||||
Figure 1:
Interim 43-101 Bonnefond Resource Estimate
Although QMX had anticipated our Interim Bonnefond Resource Estimate would be available by now, the increase in activity in the mining and exploration sector in the Abitibi region and the ongoing COVID-19 pandemic has lead to unexpected delays in sampling, re-sampling and access to consultants. Given the progress to date, we now expect to receive an updated Bonnefond Resource Estimate, reflecting all the additional drillholes completed at Bonnefond over the past year, in
Exploration update
QMX is currently operating four diamond drill rigs and is on track to complete over 45,000m of drilling in 2020. Two drill rigs are in the Bourlamaque zone, one completing the River Target campaign and one in the Poulmaque area (Figure 2). The two other drill rigs are in the
Figure 2: QMX 2020 Drill Target Areas is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bb0c55af-6eea-4ceb-a27f-07dee2ac579a
Quality Control
During the drilling program, assay samples were taken from the NQ core and sawed in half. One half is sent to
Qualified Persons
The scientific and technical content of this press release has been reviewed, prepared and approved by
About
Contact Information: | ||||
President and CEO | Public Relations Tel: (514) 667-2304 | |||
Toll free: +1 877-717-3027 | Email: info@qmxgold.ca | 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, planned drilling programs, anticipated timing of the Bonnefond Resource Estimate, 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 the ongoing COVID-19 pandemic and 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
Table 2:
Hole Number | Azimuth (°) | Dip (°) | Hole Length | From (metre) | To (metre) | Length* (metre) | Au** (g/t) | Comment |
17421-20-052 | 360 | -70 | 273 | 179.0 | 181.2 | 2.2 | 1.05 | Qtz-Tm vein |
17421-20-053 | 360 | -80 | 261 | No significant results | ||||
17421-20-054 | 360 | -75 | 171 | No significant results | ||||
17421-20-055 | 360 | -70 | 200 | 89.0 | 98.0 | 9.0 | 1.93 | Qtz-Tm vein |
Incl | 89.0 | 90.5 | 1.5 | 7.60 | ||||
17421-20-056 | 360 | -70 | 200 | 114.5 | 125.0 | 10.5 | 2.78 | Qtz-Tm vein |
incl | 114.5 | 115.5 | 1.0 | 17.60 | ||||
incl | 123.5 | 125.0 | 1.5 | 4.50 | ||||
169.5 | 171.0 | 1.5 | 44.40 | Qtz-Tm vein | ||||
17421-20-057 | 360 | -70 | 300 | 43.0 | 44.5 | 1.5 | 2.35 | Qtz-Tm vein |
225.5 | 227.0 | 1.5 | 1.03 | Qtz-Tm vein | ||||
17421-20-058 | 360 | -80 | 321 | 252.5 | 255.5 | 3.0 | 0.47 | Qtz-Tm vein |
17421-20-059 | 360 | -70 | 303 | 116.0 | 125.0 | 9.0 | 0.99 | Qtz-Tm vein |
145.8 | 151.1 | 5.3 | 3.93 | Qtz-Tm vein | ||||
incl | 145.8 | 147.0 | 1.2 | 4.78 | ||||
incl | 149.8 | 151.1 | 1.3 | 11.01 | ||||
183.1 | 185.1 | 2.0 | 5.60 | Qtz-Tm vein | ||||
17421-20-060 | 360 | -60 | 300 | No significant results | ||||
17421-20-061 | 360 | -60 | 300 | 223.5 | 229.5 | 6.0 | 1.19 | Qtz-Tm vein |
228.0 | 229.5 | 1.5 | 3.09 | Qtz-Tm vein | ||||
17421-20-062 | 360 | -60 | 300 | No significant results | ||||
17421-20-063 | 360 | -60 | 300 | No significant results | ||||
17421-20-064 | 360 | -60 | 300 | No significant results | ||||
17421-20-065 | 360 | -75 | 300 | No significant results | ||||
17421-20-066 | 360 | -50 | 171 | 109.7 | 113.5 | 3.8 | 15.60 | Qtz-Tm vein |
17421-20-067 | 360 | -55 | 300 | 181.2 | 182.2 | 1.0 | 13.10 | Qtz-Tm vein |
204.1 | 206.1 | 2.0 | 6.30 | Qtz-Tm vein | ||||
17421-20-068 | 360 | -60 | 300 | 167.6 | 169.0 | 1.4 | 2.20 | Qtz-Tm vein |
191.6 | 192.5 | 0.9 | 6.84 | Qtz-Tm vein |
* Reported length measured along the hole. ** Au uncapped.
Source:
2020 GlobeNewswire, Inc., source