TORONTO, ONTARIO--(Marketwire - Sept. 6, 2012) - QMX Gold Corporation (TSX:QMX)(OTCQX:QMXGF) ("QMX" or the "Company") is pleased to announce results from recent drilling activities at its wholly owned Lac Herbin mine in Val D'Or, Quebec. Results from the exploration and definition diamond drilling program have allowed the Company to generate outlines of the FL Zones. Locations of the Zones are shown in Figure 1 below.
This drilling activity, completed in the fourth quarter of 2011, has been focused on in-fill drilling of the inferred resource envelope with the goal of expanding the zone. The FL Zone is located less than 150 metres from surface and extends over a lateral distance of 225 metres.
Highlights from the drill results from the FL Zones include:
- 25.9 g/t Au over 1.5 metres from hole AMAR-226
- 22.2 g/t Au over 1.6 metres from hole AMAR-220
- 21.5 g/t Au over 1.5 metres from hole AMAR-176
QMX Gold targeted the FL Zones with definition drilling of 66 holes for a total of 8,190 metres. From the 66 holes, 61 (or 92%) intersected anomalous gold mineralisation and associated alteration in the target area. Of these, 32 holes (or 48 %) show mineralization above 0.9 g/t Au and 15 holes (23%) return grades above 5.0 g/t Au. These characteristics are typical of areas with economic gold mineralization throughout the Lac Herbin mine.
Development to access the upper sector, named 6 FL and shown in Figure 2, was initiated in August 2011. Development which finished in April 2012 sent 1806 tonnes at 6.37 g/t Au to the mill for a total of 370 ounces. Production from this zone is forecasted to begin during the first quarter of 2013.
The lower part of the FL zone, named 11 FL and shown in Figure 3, similarly returned positive drill results and mining of this area will be integrated into the Company's 2013 mining plan.
The FL Zone is a ductile shear that varies from a few centimeters to 2.0 meters wide, locally reaching up to 7 meters wide, all located within the massive diorite of the Bourlamaque Batholith. The shear is injected with 5 to 80% quartz and quartz-carbonate-chlorite veining which varies from 10cm to 2.0m in width. The veining contains trace to 5% patchy, massive, and disseminated pyrite with rare, trace chalcopyrite. Gold in this region is associated with pyrite.
Data from 15 exploration holes, which include seven West block 6FL diamond drill holes for a total of 2399 metres are found at the bottom of the table. One hole returned values above 5.0 g/t Au and two intersected mineralisation above 0.9 g/t Au.
Francois Perron, the President and CEO of QMX Gold, commented: "Surface drilling of inferred resources in the FL Zone at the beginning of the year has confirmed the mineralization. The development required to access and define this new sector was undertaken shortly after its potential was recognized. These drilling results will be incorporated into the mineral resource and reserve estimate which will be disclosed in the first quarter 2013.
The mine exploration program for 2012 continues to define other nearby zones including the Bonanza, LH, S1 and other flat vein swarms. The Company's objective is to add reserves at a greater rate than they are mined."
The following table summarizes the recent drill results:
Holes | From | To | Core length |
True width* |
Grade | Zone | Comments | |
meters | meters | meters | meters | g/t Au | ||||
AMAR-165 | 124.40 | 124.95 | 0.55 | 1.50 | 0.01 | 11FL | 1% Quartz veining | |
AMAR-171 | 57.20 | 58.70 | 1.50 | 1.50 | 2.29 | 6FL | Outside Contour | |
AMAR-172 | 65.10 | 66.80 | 1.70 | 1.50 | 13.50 | 6FL | 75% Qtz veining, shear | |
AMAR-173 | 56.40 | 57.90 | 1.50 | 1.50 | 0.77 | 6FL | Outside Contour | |
AMAR-174 | 33.50 | 35.00 | 1.50 | 1.50 | No samples | 6FL | Outside Contour | |
AMAR-175 | 118.80 | 120.40 | 1.60 | 1.50 | 11.30 | 11FL | 40% Qtz veining, 5%Py | |
AMAR-176 | 125.10 | 126.70 | 1.60 | 1.50 | 21.53 | 11FL | Shear Zone, 5%Py | |
AMAR-177 | 133.60 | 135.10 | 1.50 | 1.50 | 0.02 | 11FL | Minor Shear, TrPy | |
AMAR-178 | 125.80 | 127.50 | 1.70 | 1.50 | 4.51 | 11FL | 80% Qtz veining, 1%Py | |
AMAR-179 | 121.50 | 123.00 | 1.50 | 1.50 | 1.52 | 11FL | 10% Qtz veining, TrPy | |
AMAR-180 | 127.15 | 128.75 | 1.60 | 1.50 | 0.03 | 11FL | Outside Contour | |
AMAR-181 | 124.75 | 126.25 | 1.50 | 1.50 | 2.45 | 11FL | 2.4m Shear, TrPy | |
AMAR-182A | 126.25 | 127.75 | 1.50 | 1.50 | 5.99 | 11FL | Qtz vein, 2%Py | |
AMAR-183 | 33.30 | 34.85 | 1.55 | 1.50 | 3.97 | 6FL | 25% Qtz, Shear, 2%Py | |
AMAR-184 | 56.90 | 58.40 | 1.50 | 1.50 | 8.15 | 6FL | Qtz vein, 2%Py | |
AMAR-185 | 76.80 | 78.45 | 1.65 | 1.50 | 3.69 | 6FL | Qtz vein, 2%Py | |
AMAR-186 | 93.40 | 95.00 | 1.60 | 1.50 | 0.21 | 6FL | Outside Contour | |
AMAR-187 | 78.60 | 80.20 | 1.60 | 1.50 | 0.01 | 6FL | Outside Contour | |
AMAR-188 | 40.45 | 42.00 | 1.55 | 1.50 | 19.16 | 6FL | Qtz vein, 2%Py | |
AMAR-189 | 32.80 | 34.45 | 1.65 | 1.50 | 1.74 | FL | Qtz vein, 2%Py | |
AMAR-190 | 27.40 | 29.00 | 1.60 | 1.50 | 0.06 | 6FL | Outside Contour | |
AMAR-191 | 107.75 | 109.35 | 1.60 | 1.50 | 17.37 | 11FL | Qtz vein, 5%Py | |
AMAR-192 | 100.55 | 102.10 | 1.55 | 1.50 | 10.24 | 11FL | 30% Qtz, Shear, 2%Py | |
AMAR-193 | 98.50 | 100.00 | 1.50 | 1.50 | 4.78 | 6FL | Qtz vein, 15%Py | |
AMAR-194 | 106.35 | 107.95 | 1.60 | 1.50 | 0.78 | 11FL | Outside Contour | |
AMAR-195 | 116.00 | 117.70 | 1.70 | 1.50 | No samples | 11FL | Outside Contour | |
AMAR-196 | 110.70 | 112.85 | 2.15 | 1.50 | 0.01 | 11FL | Outside Contour | |
AMAR-197 | 111.00 | 112.60 | 1.60 | 1.50 | 1.24 | 11FL | Qtz vein, 1%Py | |
AMAR-198A | 123.60 | 125.30 | 1.70 | 1.50 | 11.00 | 11FL | 30% Qtz, Shear, 8%Py | |
AMAR-199 | 138.00 | 139.80 | 1.80 | 1.50 | 0.52 | 11FL | Qtz vein, <1%Py | |
AMAR-201 | 142.40 | 142.80 | 0.40 | 1.50 | LV | 11FL | Outside Contour | |
AMAR-202A | 112.40 | 114.00 | 1.60 | 1.50 | 1.19 | 11FL | Shear Zone, 3%Py | |
AMAR-203 | 117.40 | 119.00 | 1.60 | 1.50 | 10.61 | 11FL | Shear Zone, 20%Py | |
AMAR-207A | 104.90 | 106.50 | 1.60 | 1.50 | 0.24 | 11FL | Outside Contour | |
AMAR-208 | 117.40 | 118.95 | 1.55 | 1.50 | 0.75 | 11FL | Shear Zone, 5%Py | |
AMAR-209 | 128.65 | 130.50 | 1.85 | 1.50 | 0.43 | 11FL | Outside Contour | |
AMAR-210 | 117.60 | 119.15 | 1.55 | 1.50 | 0.08 | 11FL | Outside Contour | |
AMAR-211 | 124.75 | 126.40 | 1.65 | 1.50 | 0.82 | 11FL | Outside Contour | |
AMAR-213 | 120.10 | 121.70 | 1.60 | 1.50 | 11.10 | 11FL | Qtz vein, 4%Py | |
AMAR-214 | 111.65 | 113.30 | 1.65 | 1.50 | 1.64 | 11FL | Shear, 2%Py | |
AMAR-215A | 36.40 | 37.94 | 1.54 | 2.10 | 9.98 | 6FL | Qtz vein, 1%Py | |
AMAR-216 | 70.25 | 71.80 | 1.55 | 1.50 | 0.39 | 6FL | Qtz vein, TrPy | |
AMAR-217 | 48.95 | 50.50 | 1.55 | 1.50 | No samples | 6FL | Outside Contour | |
AMAR-218 | 73.65 | 76.00 | 2.35 | 2.30 | 1.37 | 6FL | Qtz vein, 2%Py | |
AMAR-219 | 111.00 | 112.60 | 1.60 | 1.50 | 0.40 | 11FL | Outside Contour | |
AMAR-220 | 116.15 | 117.90 | 1.75 | 1.60 | 22.22 | 11FL | Shear, 2%Py | |
AMAR-221 | 122.00 | 123.55 | 1.55 | 1.50 | 0.23 | 11FL | Shear, TrPy | |
AMAR-222 | 125.25 | 127.20 | 1.95 | 1.80 | 2.32 | 11FL | Qtz vein, 3%Py | |
AMAR-223 | 125.60 | 126.20 | 0.60 | 1.50 | 0.05 | 11FL | Outside Contour | |
AMAR-224 | 132.70 | 134.40 | 1.70 | 1.50 | 0.02 | 11FL | Outside Contour | |
AMAR-225A | 143.15 | 145.00 | 1.85 | 1.50 | 1.36 | 11FL | Trace Py | |
AMAR-226 | 123.38 | 124.90 | 1.52 | 1.50 | 25.93 | 11FL | Qtz vein, 9%Py | |
AMAR-227 | 126.90 | 128.60 | 1.70 | 1.50 | 0.08 | 11FL | Outside Contour | |
AMAR-228 | 136.10 | 137.70 | 1.60 | 1.50 | 0.03 | 11FL | Outside Contour | |
AMAR-229 | 121.00 | 122.50 | 1.50 | 1.50 | 0.16 | 11FL | Qtz vein, TrPy | |
AMAR-231 | 117.65 | 119.20 | 1.55 | 1.50 | 0.02 | 11FL | Shear, TrPy | |
AMAR-232 | 123.90 | 125.50 | 1.60 | 1.60 | 0.62 | 11FL | Outside Contour | |
AMAR-233 | 132.45 | 134.20 | 1.75 | 1.50 | 0.34 | 11FL | Qtz vein, <1%Py | |
AMAR-234 | 137.65 | 139.65 | 2.00 | 1.80 | 3.09 | 11FL | Qtz vein, Shear, 1%Py | |
AMAR-235 | 116.00 | 117.55 | 1.55 | 1.50 | 0.95 | 11FL | Outside Contour | |
AMAR-236 | 118.85 | 120.50 | 1.65 | 1.50 | 0.08 | 11FL | Qtz vein, Shear, 1%Py | |
AMAR-237 | 144.95 | 147.65 | 2.70 | 2.6 | 0.09 | 11FL | Outside Contour | |
AMAR-238 | 119.25 | 120.80 | 1.55 | 1.5 | 12.20 | 11FL | Qtz vein, Shear, 10%Py | |
AMAR-239 | 117.30 | 119.40 | 2.10 | 1.5 | 0.01 | 11FL | Outside Contour | |
AMAR-240 | 118.95 | 120.50 | 1.55 | 1.5 | LV | 11FL | Outside Contour | |
AMAR-241 | 76.00 | 77.55 | 1.55 | 1.5 | 2.57 | 6FL | Outside Contour | |
AMAR-242 | 203.70 | 205.50 | 1.80 | 1.5 | No samples | FL | Exploration | |
AMAR-243 | 186.80 | 188.35 | 0.75 | 1.5 | LV | FL | Exploration | |
AMAR-244 | 361.10 | 362.70 | 1.60 | 1.5 | 0.01 | FL | Exploration | |
AMAR-253 | 212.00 | 213.60 | 1.60 | 1.5 | 0.02 | FL | Exploration | |
AMAR-255 | 159.70 | 161.30 | 1.60 | 1.5 | No samples | FL | Exploration | |
AMAR-256 | 208.30 | 209.80 | 1.50 | 1.5 | No samples | FL | Exploration | |
AMAR-257 | 192.00 | 193.50 | 1.50 | 1.5 | 0.01 | FL | Exploration | |
AMAR-258 | 215.00 | 216.70 | 1.30 | 1.5 | No samples | FL | Exploration | |
AMAR-259 | 58.60 | 60.20 | 1.60 | 1.5 | 7.91 | 6FL | West block 6FL | |
AMAR-260 | 43.40 | 45.00 | 1.60 | 1.5 | 0.01 | 6FL | West block 6FL | |
AMAR-261 | 58.10 | 59.80 | 1.70 | 1.5 | 0.09 | 6FL | West block 6FL | |
AMAR-262 | 40.60 | 42.20 | 1.60 | 1.5 | 2.70 | 6FL | West block 6FL | |
AMAR-263 | 58.30 | 60.00 | 1.70 | 1.5 | 1.55 | 6FL | West block 6FL | |
AMAR-264 | 58.30 | 59.90 | 1.60 | 1.5 | 0.01 | 6FL | West block 6FL | |
AMAR-265 | 58.00 | 59.80 | 1.80 | 1.5 | No samples | 6FL | West block 6FL |
* The FL zone has an average dip of 45 degrees south. The drill holes have intersected the FL zone at angles varying between 70 and 80 degrees. Therefore, the true width of the ore zone averages 90% of the core length. All holes have been composited to 1.50 metres true width or greater to coincide with the minimum mining width of 1.50 metres. |
Qualified Persons and Quality Control
The technical and scientific information in this press release has been compiled, reviewed and verified by Chief Geologist Ronald G. Leber, P.Geo., and Senior Exploration Geologist Claude Savard, P.Geo., Lac Herbin Mine, QMX Gold Corporation; Qualified Persons (QP's) as defined by National Instrument 43-101. Mme. Savard was the QP who directly supervised the drill program and all technical work conducted at Mine Lac Herbin, as summarized herein. Diamond drill core was logged and sampled by company personnel at the Lac Herbin mine. NQ size exploration core was cut in half using a diamond saw with one half bagged and submitted for assaying and the remaining half sample retained and archived. BQ size definition core is entirely bagged and submitted for assay. A strict QA/QC program is followed that includes mineralized standards, blanks and field duplicates for each batch of samples. Analyses are performed by Techni-Lab of Ste-Germaine Boulé, Québec an ISO/IEC 17043 accredited assay facility. The Laboratory is certified by the Standards Council of Canada for gold analyses utilizing instrumental or gravimetric finish.
The economic potential and forecast results from mining activities in the FL Zones targeted by the drilling described above has not been proven nor is it subject to any feasibility study. There is no guarantee that production activities from such areas will be profitable.
About QMX Gold
QMX Gold Corporation is a Canadian publicly traded mining company focusing on mine development and exploration in Quebec and Manitoba. The Company is listed on the Toronto Stock Exchange ("TSX") and effective July 5, 2012 began trading under the symbol "QMX". QMX Gold trades in the United States on the Over the Counter QX International ("OTCQX") platform under the symbol "QMXGF". QMX Gold continues to be a dynamic and aggressive mining company operating in Canada's richest mining regions: Val-d'Or, Quebec, and Snow Lake, Manitoba. QMX Gold continues to operate in the mineral rich Val-d'Or area with production estimated at 18,500-20,500 ounces of gold per year. The Company has also begun to ramp-up pre-production activities at its property at the Snow Lake Mining Camp which has a Measured and Indicated Mineral Resources of over 720,000 oz gold and is expected to produce 80,000 ounces of gold per year as identified in the Technical Report of December 10, 2010 titled Snow Lake Mine Re-activation Project prepared by: Andre Roy (Eng.) Jamie Lavigne (P.Geo), David West (P.Eng), Ian Ward (P.Eng), Matthew Parfitt (P.Eng), Mark Bednarz (P.Geo).
Forward-looking information:
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the impact of these drill results and the timing and amount of future exploration and development of the property, the timing and amount of future production, and the future financial or operating performance of QMX Gold and its projects. 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 to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the annual information form of the Company, which is available under the profile of the Company 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.
To view the Figures associated with this release, please visit the following link: http://media3.marketwire.com/docs/817085e.pdf
Contact Information:
Francois Perron
President and CEO
(416) 309-2952
QMX Gold Corporation
Louis Baribeau
Public Relations
(514) 667-2304
QMX Gold Corporation
Rob Hopkins
Investor Relations
(416) 861-5899 or Toll free: +1 877-717-3027
info@qmxgold.ca
www.qmxgold.ca