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QMX Gold Makes Two New Gold Discoveries in Val d'Or

05.23.2017

TORONTO, ONTARIO--(Marketwired - May 23, 2017) - QMX Gold Corporation ("QMX" or the "Company") (TSX VENTURE:QMX) has made two new gold discoveries on its Val d'Or Mining Camp property in Val d'Or, Quebec (Figure 1).

Beacon Zone

  • Highlights include 6.1 g/t Au over 5.4 meters (including 32.6 g/t Au over 1.0 meter) and 7.6 g/t Au over 3.0 meters.
  • Multiple Quartz-tourmaline-Pyrite vein orientations with alteration along vein margins similar to that at Goldex Mine.

Southwestern Zone

  • Gold mineralization intersected in three drill holes including 14.0 g/t Au over 0.7 meter and 4.9 g/t Au over 3.2 meters.
  • A diorite sill cut at the southern boundary of the zone appears to be on-trend of Integra Gold's Triangle zone. Further drilling planned at depth.

Drilling to commence shortly on the Bonnefond South Plug where a new structural model indicates mineralization remains open laterally and at depth. AUR Resources historical drilling in this area included 1.9 g/t Au over 55 meters, with 10.8 g/t Au over 3 meters; and up to 12.2 g/t Au over 12 meters in a shear zone in the adjacent volcanic rocks.

To view Figure 1. QMX Gold's Val d'Or Mining Camp Property, please visit the following link: www.marketwire.com/library/20170523-qmx0523figure1full.jpg.

"Our primary focus for these drill programs was to identify favourable structures and trends, and to expand the limited geological information, however the gold intersections confirm our view on our highly prospective and extensive land package," commented Brad Humphrey, President and CEO. "Our team is excited about the results, and is keen to build on this success as we move to additional phases of drilling."

"Diamond drilling again shows the potential for the discovery of new gold deposits. QMX's extensive land package provides almost blanket coverage of the central part of the Val d'Or Camp where both a gold district and base metal district overlap. A strong commitment to exploration in such a target-rich environment, with the application of new ideas, models and interpretation, should lead QMX to great success," commented David Rigg, Senior Vice President, Exploration.

Beacon Zone

QMX Gold has successfully completed a 7-hole, 924 meter Diamond Drill Program on the Beacon Zone (Figure 2). The program tested a well-developed, northeast-trending Quartz-Tourmaline shear vein that outcrops in the southeast corner of the Bourlamaque Batholith. The shear zone is on-strike and approximately 1 kilometer northwest of the shear hosted gold mineralization at the past-producing Wrightbar mine (305,000 tonnes grading 7.8 grams gold per tonne, Reference: MERN Sigeom data base). Historical channel samples (Alexis Minerals 2007) included 6.9 g/t Au over 6.0 meters and 45.3 g/t Au over 1.5 meters. Further prospecting identified additional north-trending veins (grab samples up to 55 g/t Au) and suggests potential for a near-surface stockwork type vein system.

Four holes tested for lateral- and depth-extensions to the principal shear vein and three holes, 17319-17-05, -07 and -08, were drilled parallel to the principal shear to evaluate the potential contribution from cross-cutting veins. The most encouraging gold intersections of 6.1 g/t Au over 5.4 meters (including 32.6 g/t Au over 1.0 meter); 7.6 g/t Au over 3.0 meters; and 2.4 g/t Au over 5.1 meters, were returned in holes -5 and -7 (Table 1) where north-trending veins were evident. In addition, wall-rock alteration adjacent to the veins is pronounced and similar to that observed at the Goldex Mine with an intensive albite-sericite alteration. This type of alteration has not previously been encountered within the Bourlamaque Batholith. A reinterpretation of the immediate area is in progress to evaluate the potential for a stockwork type gold deposit.

Table 1. Select Intersections from Beacon Zone Drilling, Louvicourt Township, Val d'Or, Quebec.

Hole From
(m)
To
(m)
Length
(m)*
Au Grade
(g/t)
17319-17-005 36.4 41.8 5.4 6.1
incl. 40.8 41.8 1.0 32.6
72.0 75.0 3.0 7.6
incl. 72.0 74.0 2.0 11.1
17319-17-007 12.0 17.1 5.1 2.4
26.1 27.2 1.1 1.1
17319-17-008 4.2 5.3 1.1 1.1
16.3 17.7 1.4 4.5
45.5 46.6 1.1 4.5
* Reported gold intersections are measured along the hole. Additional drilling will be needed to determine the true width of the mineralized zones.
Complete technical details and results for the program are presented in Table 3 at end of this press release.

To view Figure 2. Beacon Zone, Louvicourt Township, Val d'Or, Quebec, please visit the following link: www.marketwire.com/library/20170523-qmx0523figure2full.jpg.

Southwestern Zone

QMX Gold successfully completed a 16-hole, 5,382 meter Reconnaissance Drill Program on the Southwestern Zone. Through targeted drilling and 29 line-kilometers of ground geophysics (OreVision© IP), the reconnaissance program successfully identified a number of prospective structures within the approximately 4- by 3-kilometer area bordering Integra Gold's Lamaque project (Figure 3). Encouraging gold intersections, including 14.0 g/t Au over 0.7 meters and 4.9 g/t Au over 3.2 meters associated with quartz-sulphide veins and dissemination sulphides, are located close to the eastern projection of the Sigma-Lamaque North Shear. This demonstrates the potential for additional gold discoveries on this portion of the land package (Table 2).

Drilling included a fence of six holes commencing from near the Poste Intrusion, running north for approximately 1,500 meters to the southern edge of the Manitou Shear (or Aumaque Shear further West). The holes tested IP anomalies identified by the OreVision© IP survey to target depths of 300 to 350 meters and provide stratigraphy and structure across this important sector. The Southern-most drill hole intersected a Diorite Sill, which appears, from magnetic data, to be on-trend of Integra Gold's Triangle zone. Several Quartz-Tourmaline Pyrite shear veins and tension veins were intersected within the Diorite but assays reported no significant gold values to 300 meters. However given the zones, including the Sigma and Lamaque mines, plunge steeply to the east, good discovery potential remains at depth across the width of the drilling. Detailed studies are ongoing.

Table 2. Select Intersections from Reconnaissance Drilling on the Southwestern Zone, Bourlamaque Township, Val d'Or, Quebec.

Hole From
(m)
To
(m)
Length
(m)*
Au Grade
(g/t)
17307-16-002 93.1 93.8 0.7 14.0
17307-16-003 132.7 135.0 2.3 1.2
181.8 135.0 1.0 2.3
17307-17-007 35.8 36.9 1.1 1.0
96.3 97.3 1.0 1.4
108.3 118.5 10.5 2.0
incl. 113.2 116.4 3.2 4.9
124.6 125.8 1.2 2.0
135.3 136.5 1.2 2.1
* Reported gold intersections are measured along the hole. Additional drilling will be needed to determine the true width of the mineralized zones.
Complete technical details and result for the program are presented in Table 3 at end of this press release.

Anomalous levels of copper (Cu), zinc (Zn) and silver (Ag) were also intersected in several holes, including the southernmost hole of the Poste - Manitou fence. Associated alteration, sulphide-stringers and/or syngenetic massive sulphides (Pyrite - Pyrrhotite) confirm that Volcanogenic Massive Sulphide and Skarn systems were active within the Val d'Or Formation across the project area. QMX considers these features as very positive signs that there remains good potential for the discovery of additional Volcanogenic Massive Sulphide and Skarn deposits.

To view Figure 3. Southwestern Zone, Bourlamaque Township, Val d'Or, Quebec, please visit the following link: www.marketwire.com/library/20170523-qmx0523figure3full.jpg.

A reinterpretation is in progress to incorporate the new drilling information. A High Definition Magnetic survey and additional drilling will be completed to evaluate the junction of structural breaks and to determine the precise location of diorite intrusions.

Drilling on Bonnefond South Plug to Commence Shortly

While drilling was underway on the Southwestern and Beacon Zones, the QMX team was also compiling historical data on two additional priority zones on the eastern side of the property, Bonnefond South Plug and Bevcon (Figure 1). This compilation has led to the reinterpretation of the historical geological models in these two areas.

At Bonnefond, AUR Resources discovered a plug-like, tonalitic intrusion approximately 2 kilometers east of the Louvicourt Mine, which contains gold in association with shear and tensional quartz-tourmaline veining. Results reported by AUR include 1.9 g/t Au over 55 meters including 10.8 g/t Au over 3 meters (Hole 315-22, QMX historical data base, all reported lengths are core lengths). Gold mineralization is also associated with shear zones in the adjacent volcanic rocks where historical drilling returned up to 12.2 g/t Au over 12 meters (Hole 315-36B, QMX data base). The current geological interpretation indicates that the gold system has likely been cross cut by late faults and mineralization remains open.

The gold target environment bears many similarities to the gold target environment in the Southwestern Zone. All historical drill holes have been drilled from North to South and oriented core was not utilized. The Bonnefond South Plug lies near a pronounced flexure in the regional trend of the Manitou Shear and it is cut by a series of mineralized faults. AUR interpreted five such parallel structures. Drilling to test the revised model on the Bonnefond South Plug will commence shortly to confirm vein, fault and shear orientations by more closely spaced drilling using oriented core.

The Bevcon Zone is located near the past-producing Bevcon gold mine, which produced 445,000 ounces of gold at 4.3 g/t Au (Reference: MERN Sigeom data base). The gold system extended more than 1,000 meters laterally and was followed to a depth of 1,000 meters. Gold mineralization is within quartz-tourmaline veins controlled by a complex shear zone system. Geological compilation and data integration is in progress, after which a drill program will be developed.

QMX is taking a methodical and systematic approach towards exploration on its extensive 200km2 property in the heart of the Val d'Or mining camp. The structural model developed in the initial drilling on the Southwestern and Beacon Zones provides new insight into potential controls on gold mineralization throughout the camp.

Qualified Persons

The Diamond Drilling Programs on the Southwest and Beacon Zones were supervised by M. Melanie Pichon, P.Geol. and Mr. Benjamin Gagnon, P.Geol, respectively. M. Pichon and B. Gagnon have reviewed the scientific and technical information in this press release. David Rigg, P.Geo., Senior Vice President, Exploration of QMX has also reviewed the scientific and technical information in this press release. Pichon, Gagnon and Rigg are "Qualified Persons" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

Quality Control

During the drilling programs, assay samples were taken from the NQ core and sawed in half. One-half was sent to Techni-Lab SGB Abitibi/Actlabs Laboratory, 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, blank samples and duplicates in each batch of 20 samples. The gold analyses were by fire-assay 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 3.0 g/t Au or more. Analysis for Cu, Zn and Ag used a multi-element aqua regia ICP-OES method.

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. In addition to its extensive land package, QMX owns the Aurbel gold mill.

Cautionary Notes:

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 the future plans, operations and activities, mineralization projections and trends, and future exploration plans. 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 3. 2016-2017 Beacon and Southwestern Drill Results

Hole Number MTN Zone 9,
Nad 83
MTM Zone 9,
Nad 83
Azimuth Dip Hole
Length
From To Length* Au**
Easting Northing (°) (°) (m) (m) (m) (m) (g/t)
Beacon Zone
17319-17-003 225155 5330317 335 -45 153 115.9 116.8 0.9 1.0
17319-17-004 225348 5330374 335 -45 201 NSV
17319-17-005 225330 5330351 240 -45 102 36.4 41.8 5.4 6.1
incl. 40.8 41.8 1.0 32.6
72.0 75.0 3.0 7.6
incl. 72.0 74.0 2.0 11.1
17319-17-006 225386 5330347 335 -60 252 19.1 20.4 1.3 1.6
17319-17-007 225346 5330313 240 -45 75 12.0 17.1 5.1 2.4
26.1 27.2 1.1 1.1
17319-17-008 225326 5330325 240 -45 90 4.2 5.3 1.1 1.1
16.3 17.7 1.4 4.5
45.5 46.6 1.1 4.5
17319-17-009 225090 5330331 335 -45 51 NSV
Southwestern Zone
17307-16-001 216934 5330082 30 -50 267 NSV
17307-16-002 216539 5329635 360 -45 277 93.1 93.8 0.7 14.0
17307-16-003 216437 5329455 360 -45 282 132.7 135.0 2.3 1.2
181.8 182.8 1.0 2.3
17307-17-004 217107 5329000 180 -50 312 NSV
17307-17-005 215718 5329777 360 -55 222 76.0 76.8 0.8 1.0
134.7 137.3 2.6 1.1
17307-17-006 215662 5329819 360 -55 318 NSV
17307-17-007 215836 5329721 360 -55 300 35.8 36.9 1.1 1.0
96.3 97.3 1.0 1.4
108.3 118.5 10.5 2.0
incl. 113.2 116.4 3.2 4.9
124.6 125.8 1.2 2.0
135.3 136.5 1.2 2.1
17307-17-008 217405 5329680 30 -50 300 43.0 45.1 2.1 1.0
17402-16-016 219521 5328865 360 -50 204 NSV
17402-16-017 219904 5328753 360 -50 204 NSV
17402-16-018 216936 5327688 330 -45 252 NSV
17402-16-019 215228 5327536 360 -70 501 NSV
17402-16-020 215189 5327865 360 -53 549 NSV
17402-16-021 215372 5328180 360 -60 501 NSV
17402-16-022 215372 5328370 36 -50 501 NSV
17402-16-023 215228 5327536 360 -70 402 NSV
NSV: No Significant Value
* Reported length are measured along the hole. Additional drilling is required to determine the true width of the mineralized zones.
** Au uncut.
Contact Information:
QMX Gold Corporation
Brad Humphrey
President and CEO
(416) 861-5887 or Toll free: +1 877-717-3027
info@qmxgold.ca
www.qmxgold.ca


Louis Baribeau
Public Relations
(514) 667-2304
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