TORONTO, ONTARIO--(Marketwired - Dec. 6, 2016) -
QMX Gold Corporation ("QMX" or the "Company") (TSX VENTURE:QMX) is pleased to announce that initial drill permits have been received for the Phase I drilling program on the Southwestern Zone of its Val d'Or Mining Camp property in Quebec. Orbit Garant Drilling Inc. is currently operating one drill on the property, and will be adding a second one later this week.
The initial phase of drilling, up to 4,000 metres, will focus on prospective gold showings and structures in the Southwestern portion of the property. This campaign will test the potential eastward extension of gold mineralization from Integra Gold's Lamaque South property (see Figure 1). A follow up program will be designed in early January based on the results of this Phase I drilling and a recently completed IP survey.
Given QMX's extensive land package, the Company is taking a systematic approach. Following a review of historical work and gold showings, the Southwestern Zone was selected as a first priority. However, this process highlighted multiple areas of interest, which have been prioritized with geological and structural compilations underway in preparation for future drilling campaigns.
Figure 1 - Southwestern Target Area: http://media3.marketwire.com/docs/1079065e_MAP.pdf
"QMX has undergone a substantial turnaround in 2016, financially placing the Company in a solid position to commence this initial drilling campaign," commented Brad Humphrey, President and CEO of QMX. "We are excited to begin our first phase of drilling in Val d'Or and plan to continue to systematically explore prospective gold targets across our extensive land package."
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. In addition to its extensive land package, QMX owns the Aurbel gold mill.
Cautionary Note Regarding Forward-Looking Information and Mineral Resources:
David Rigg is a qualified person under National Instrument 43-101 and Senior Vice President, Exploration of QMX. He has reviewed the scientific and technical information in this press release.
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, results and timing of exploration activities, mineralization projections, financial position of QMX 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". Estimates regarding the timing, costs and follow on analysis of the exploration program are based on management knowledge, geological expertise and publicly available information. 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.