QMX Gold Corporation

QMX Gold Corporation

August 02, 2017 00:01 ET

QMX Gold - High Definition Magnetic Survey Underway

TORONTO, ONTARIO--(Marketwired - Aug. 2, 2017) - QMX Gold Corporation ("QMX" or the "Company") (TSX VENTURE:QMX) has commenced a High Definition Magnetic Helicopter Survey across the southern portion of its extensive land package in the Val d'Or mining camp, Quebec. This survey will be used to identify and better define prospective structures and additional intrusive features for analysis and future drill targets.

"The magnetic survey will be the most detailed survey undertaken across the 30-kilometer strike length of the Val d'Or Formation. The survey should assist QMX in the evaluation of the relationships between the major, roughly East-West trending, steeply-dipping Manitou, Dunraine and Viscount shear zones; the regional Z-folded stratigraphy of the Val d'Or Formation and potential intrusions. Our current model suggests a strong causal relationship between bends and flexures in the major shear zones and gold mineralization in nearby competent rocks, such as intrusive bodies." stated David Rigg, Senior Vice President Exploration.

To view the map, Val d'Or Mining Camp Property - Current Activities, please visit the following link: http://media3.marketwire.com/docs/FIG1_QMX1100164.pdf

A High Definition Magnetic Helicopter Survey

QMX Gold continues to take a methodical and systematic approach towards exploration on its extensive land package located in the heart of the Val d'Or mining camp. As part of this process, a 50-meter line spacing High Definition Magnetic Helicopter Survey is planned in the southern portion of QMX Gold's land package. The objective is to identify the location of the gold shear zones, their extensions, and the location of additional plug-like intrusions, which offer potential or are associated with the gold mineralization in the Val d'Or mining Camp. QMX Gold has commissioned Prospectair to complete this survey by means of a cesium sensor installed on a cable towed by the helicopter at an average elevation of 30 m above the ground. Cumulatively, 3,700 line-kilometers of magnetic north-south profiles will be carried out during this campaign. We expect the final results and a completed 3D inversion model with interpretation by the end of August.

Qualified Persons

The scientific and technical content of this press release has been reviewed, prepared and approved by Mr. David Rigg, P.Geo, Senior Vice President Exploration, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About QMX Gold Corporation

QMX Gold Corporation is a Canadian based resource company traded on the TSX-V under the symbol "QMX". The Company was recently restructured and is now systematically exploring its extensive property position in the Val d'Or mining camp in the Abitibi District of Quebec. QMX is currently drilling on the Bonnefond South Plug and is evaluating its recent discoveries on the Southwestern and Beacon Zones in order to set follow up drill targets. In addition to its extensive land package, QMX owns the Aurbel gold mill.

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 the future plans, operations and activities, projected mineralization, receipt of required permits 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.

Contact Information

  • QMX Gold Corporation
    Brad Humphrey
    President and CEO
    (416) 861-5887 or Toll free: +1 877-717-3027

    Louis Baribeau
    Public Relations
    (514) 667-2304