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QMX Gold

qmxgold.ca

Founded Year

2006

Stage

Acq - P2P | Acquired

Valuation

$0000 

About QMX Gold

QMX Gold (OTCPK: QMXGF) is a Quebec based junior exploration company focused on exploring their extensive and highly prolific Val d’Or Mining Camp in the Abitibi District of Quebec.

Headquarters Location

1876, 3e avenue

Val-D'Or, Quebec, J6P 7A9,

Canada

819-825-3412

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Latest QMX Gold News

Eldorado Gold Identifies New Mineralized Lenses at Ormaque; Multiple Styles of High-Grade Mineralization at Bonnefond; Kokarpinar Vein Extension Drilled at Efemcukuru

Sep 27, 2021

Eldorado Gold Identifies New Mineralized Lenses at Ormaque; Multiple Styles of High-Grade Mineralization at Bonnefond; Kokarpinar Vein Extension Drilled at Efemcukuru VANCOUVER, British Columbia, Sept. 27, 2021 (GLOBE NEWSWIRE) — Eldorado Gold Corporation (“Eldorado”, the “Company” or “We”) is pleased to provide an update of results from exploration projects at the Lamaque and Efemcukuru operations. Brownfield exploration activities at these sites included a combination of resource conversion drilling, step-out drilling of existing resources and testing new near-mine targets. Ormaque: Infill drilling at the Ormaque deposit at the Lamaque operations has confirmed grade continuity within ore lenses of the maiden inferred resource and has expanded several lenses laterally. Drillholes testing deeper levels identified several new mineralized zones. Notable step-out intercepts include 2.2 metres at 21.3 grams per tonne (g/t) gold (51.4 g/t gold uncapped) and 1.0 metres at 40.4 g/t gold. Intercepts from new zones include 5.3 metres at 25.0 g/t gold and 33.9 metres at 16.5 g/t gold. Bonnefond: Significant drill results from the Bonnefond deposit in the recently acquired Bourlamaque project area (formerly QMX project area) include 50.2 metres at 6.0 g/t gold from an extension veinlet zone within the Bonnefond tonalite and 12.9 metres at 5.1 g/t gold from shear vein hosted mineralization cutting across the tonalite. Efemcukuru: Drilling at Kokarpinar focused on both conversion drilling within inferred resources and testing the previously undrilled Kokarpinar Northwest Splay, with the latter returning intercepts of 1.6 metres at 18.3 g/t gold and 2.1 metres at 8.0 g/t gold. “The strong drill results build on the ongoing success of our exploration programs at the Lamaque and Efemcukuru operations,” said George Burns, President and CEO of Eldorado Gold. “The infill and step-out drilling at Ormaque highlights the quality and growth potential of this recent new discovery, and our teams are rapidly advancing a range of exploration opportunities within the land package obtained through the acquisition of QMX, key to our Canadian growth strategy.” “At Efemcukuru, we have a strong track record of extending mine life through exploration success. The recent resource drilling at the Kokarpinar vein is encouraging and has the potential to significantly extend the current reserve base and mine life. Our exploration team continues to advance drilling in many areas to support our future growth profile at our existing operations.” Note: Gold grades for drillhole intervals listed in this release are capped at 40 g/t gold for Triangle deposit holes and 70 g/t gold for the Ormaque zone. Drillhole intercepts are drillhole lengths; where sufficient geological control exists, estimated true thicknesses of mineralized zones are in Appendix 1. Tables of intercepts from the drilling referenced in this release are included in Appendix 1 and associated drillhole collar coordinates and orientations are listed in Appendix 2. Val-d’Or District, Quebec Ormaque Deposit Eldorado announced a maiden inferred resource for the Ormaque deposit on February 22, 2021 totaling 803,000 ounces gold at a grade of 9.5 g/t gold. High gold grades at Ormaque occur within quartz+carbonate+tourmaline veins forming gently south-dipping extension veins and vein arrays, and less commonly, steeply north-dipping shear veins. The mineralized veins at Ormaque have been identified within a corridor extending approximately 550 metres east-west, 300 metres north-south and from 150 to at least 750 metres depth, located roughly midway along the ore haulage decline being constructed between the Triangle mine and the Sigma mill (Figure 1). Figure 1: Geological map of the Lamaque Operations showing mineralized zones and infrastructure referred to in this news release. Inset map shows outline of Lamaque Operations license holdings: Sigma-Lamaque and Sigma 2 outlined in red; Bourlamaque Property in green. Since the maiden Ormaque resource was defined, 34 drill holes totalling 16,494 metres have been completed (Figure 2). The new drilling includes both infill holes within the inferred resource area, drilled for the purpose of confirming grade continuity within the mineralized lenses, and step-out holes targeting extensions of the mineralized zones and testing for new mineralized lenses at depth and along strike. Figure 2: Geological map of the Ormaque deposit area, showing collars and traces of drill holes completed since the February 2021 announcement of the maiden inferred resource and surface projection outline of the deposit area. Drillhole collar coordinates and orientations provided in Appendix 2. Infill drillholes targeted five of the thicker, more continuous lenses of the deposit (E030, E040, E050, E100 and E140). Results validated the geological model used in the maiden resource, and intersected grades and thicknesses similar to those predicted by the model. The additional level of drilling detail has also enabled refinements to the geological model, the most notable being the definition of several steeply north-dipping high-grade shear veins. Some of the widest mineralized intervals to date are associated with vein arrays occurring where the gently-dipping extension vein lenses intersect these steeper zones. Step-out drilling has also defined extensions to the mineralized lenses outside of the area included in the maiden resource estimate, associated with both extension and shear vein zones. Notable intercepts include: 2.15 metres at 21.3 g/t gold (51.4 g/t gold uncapped) in drillhole LS-21-059, representing a 30 metre step-out to the north on zone E100, 1.0 metre at 40.4 g/t gold in drillhole LS-21-052, representing an 80 metre step-out to the east on zone E030, and 1.05 metres at 38.8 g/t gold in drillhole LS-21-058, representing a 50 metre step-out to the north on zone E050. Several new mineralized zones that were not included in the maiden resource were also intersected in the infill and step-out drilling programs. These include intercepts of: 5.25 metres at 25.0 g/t gold in drillhole LS-21-052 from a sub-vertical shear vein, and multiple intercepts in drillhole LS-21-054, including 5.0 metres at 18.1 g/t gold in a new sub-horizontal zone and 33.9 metres at 16.5 g/t gold from an array of extensional veins with associated tourmaline altered wallrock. The latter is one of the deepest and easternmost intersections at Ormaque (Figure 3). Drilling results at the high-grade Ormaque deposit highlight the resource expansion potential of the known mineralized lenses and through discovery of new lenses where the deposit remains open to the east and at depth. The combination of steeply-dipping shear veins and sub-horizontal extension veins at Ormaque is similar to styles of mineralization mined at the nearby Sigma deposit (historical production of approximately 4.5 million ounces gold), which was mined to a depth of 1.8 kilometres. Exploration to date at Ormaque has only tested the system to about 750 metres. Figure 3: North-south cross section through the eastern part of the Ormaque Deposit (section line shown on Figure 2) showing geometry of gently-dipping extension vein lenses and more steeply-dipping shear veins, and selected recent drill intercepts from this news release. Current drilling at Ormaque is testing extensions of the orebody towards the east below the previously explored Fortune zone (Figure 2). Drilling also commenced at the Mine #3 target 500 metres southwest of Ormaque (Figure 1), following up on several drill intercepts that display similar styles of mineralization and geological controls to those at Ormaque. Around 12,000 metres of drilling are planned for Ormaque, Mine #3, and related nearby targets for the remainder of 2021. Bourlamaque Eldorado completed the acquisition of QMX Gold on April 7, 2021, increasing Eldorado’s land package within the Val-d’Or area by over 500% (Figure 1). The newly acquired properties, now collectively referred to as the Bourlamaque property, include historical producing mines, advanced stage exploration projects and early-stage opportunities. In 2021, exploration drilling by QMX and subsequently by Eldorado at Bourlamaque has focused on the Bonnefond deposit, the River target, and the Bevcon target. The Bonnefond deposit, located 20 kilometres east of Val-d’Or, has notable geological similarities to the Triangle deposit, including an association with plug-like intrusions and localization of high gold grades within steeply-dipping shear vein systems. However, the intrusions at Bonnefond contain extensive zones of disseminated and veinlet-controlled gold mineralization not found at Triangle. Drilling has been ongoing at Bonnefond throughout the year, targeting both the shear veins and more disseminated styles of mineralization. Notable results from the 2021 drilling at Bonnefond include: Intercepts of 50.2 metres at 5.9 g/t gold, 13.1 metres at 4.3 g/t gold (both from drillhole 17315-20-121W1) and 41.9 metres at 3.2 g/t gold (drillhole 17315-20-148); associated with arrays of quartz-tourmaline-pyrite extension veinlets hosted within the Bonnefond tonalite, and    Intercepts of 10.3 metres at 5.1 g/t gold (drillhole 17315-21-161) and 12.9 metres at 5.1 g/t gold (drillhole 17415-21-167A) within subvertical, quartz-carbonate shear veins spatially associated with mafic dykes cutting the Bonnefond tonalite. The River target is located just east of Val-d’Or and approximately 5.5 kilometres northeast of the Sigma Mill. The River target area contains a series of south-dipping mineralized shear zones within the western margin of the Bourlamaque batholith, some of which are aligned along-strike with shear zones formerly mined at the Lac Herbin mine 500 metres to the east (historical production 172,650 ounces gold). Similar styles of mineralization are also present at the nearby historic Ferderber and Dumont mines (historical production of 362,000 ounces gold and 258,000 ounces gold respectively). Eight drillholes totaling 3,490 metres have been completed at the River target in 2021. The best intercepts from the drilling include: 16.9 metres at 3.6 g/t gold (drillhole 17421-20-078); and 19.6 metres at 9.8 g/t gold (drillhole 17421-21-082). Drilling planned the remainder of 2021 on the Bourlamaque property includes roughly 2000 metres at the River target and testing of a new target area along strike from the previously producing Bevcon mine (historical production of 438,000 ounces gold), located 30 kilometres east of Val-d’Or. The Bevcon target consists of several shear zones along the northern margin of the Bevcon intrusion, which were previously mined at the Bevcon mine. Initial drill testing will include up to 12 drillholes testing a strike length of 400 metres. Efemcukuru, Turkey In 2021, drilling at Efemcukuru has focused on resource conversion and step-out drilling at the Kokarpinar epithermal vein system (Figure 4). Resource conversion drilling has now been completed for three of the six ore shoots at Kokarpinar and will continue through the end of the year on the remaining inferred resource areas. Grades and thicknesses in the resource conversion drilling to date are overall consistent with the inferred resource model, and in several areas returned intercepts with notably higher than expected grades and thicknesses. Examples include: 5.6 metres at 35.0 g/t gold (drillhole KPR-045) at Kokarpinar South; 14.2 metres at 7.4 g/t gold (drillhole KPR-032) at Kokarpinar Middle; and 8.6 metres at 8.3 g/t gold (drillhole KPR-051) from the Kokarpinar Middle splay zone. Figure 4: Geological map of the Efemcukuru mine area showing traces of exploration and resource conversion drillholes completed in 2021 at the Kokarpinar vein system. Three step-out drillholes were completed at the previously undrilled Kokarpinar Northwest Splay zone, targeting areas where numerous high grade gold values were obtained from outcrop samples. Two of the holes intersected significant epithermal vein mineralization, including: 1.6 metres at 18.3 g/t gold (drillhole KV-789) and 2.1 metres at 8.0 g/t gold (drillhole KV-792). Follow-up drilling is planned for late 2021 to test the continuity and lateral extent of high-grade mineralization in this area. About Eldorado Gold Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece, Romania, and Brazil. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado’s common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO). Contacts

QMX Gold Frequently Asked Questions (FAQ)

  • When was QMX Gold founded?

    QMX Gold was founded in 2006.

  • Where is QMX Gold's headquarters?

    QMX Gold's headquarters is located at 1876, 3e avenue, Val-D'Or.

  • What is QMX Gold's latest funding round?

    QMX Gold's latest funding round is Acq - P2P.

  • Who are the investors of QMX Gold?

    Investors of QMX Gold include Eldorado Gold.

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