QMX Gold Corporation
TSX : QMX
OTCQX : QMXGF

QMX Gold Corporation

September 06, 2012 07:00 ET

QMX Gold Reports Intersections Up to 25.9 g/t Au Over 1.5 Metres from Drill Results at the FL Zones, Lac Herbin Mine

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

  • QMX Gold Corporation
    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