Vancouver, British Columbia--(Newsfile Corp. - November 18, 2021) - BMEX Gold Inc. (TSXV: BMEX) (FSE: 8M0) ("BMEX" or the "Company") is pleased to announce a 3,000-metre Phase 2 drill program on the King Tut project. BMEX conducted a drone magnetic survey on the property as a follow up to the inaugural 4,500-metre drill program which returned anomalous gold values in nearly every hole related to quartz-carbonates veining, indicating that a hydrothermal gold-bearing system is hosted on the property. Highlight hole TUT-21-018 assayed 81.89 g/t Au over 0.45 metres and targeted the western edge of the known gold-bearing structure at King Tut leaving nearly 2 km of strike length between Tut and Audet Quest to the west to drill test an identified shear zone in the Phase 2 program. The drill targets (see Figure 1) were identified from integrating data collected from the magnetic survey, geological data from the previous drill program, and geological modelling. BMEX will be using two rigs to evaluate this trend in order to reduce costs and expedite results. Drilling is anticipated to be completed by Dec 15, 2021.
Figure 1: 2021 Drilling Campaign on King Tut Property
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Robert Pryde, President, commented, "Armed with additional information following several months of data compilation and analysis, we have a better understanding of the gold system at King Tut and are in a stronger position to move forward with our Phase 2 drill program. The team is very excited to initiate the Phase 2 drilling and we are working closely with our geoscience consulting team at Laurentia Exploration to target the gold structure identified in previous exploration on King Tut."
The King Tut project is located 65 km east of Amex Exploration's Perron Property (see Figure 2).
Figure 2: Location Map of King Tut property.
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About BMEX Gold Inc.
BMEX Gold Inc. is a junior Canadian mining exploration company with the primary objective to acquire, explore, and develop viable gold and base metal projects in the mining-friendly jurisdiction of Quebec, Canada. BMEX is currently fully focused on earning 100% interest in its two projects, both located in the prolific Abitibi greenstone belt:
- King Tut Project consists of 120 contiguous claims on 5,206 hectares.
- Dunlop Bay Project consists of 76 mineral claims that cover 4,226 hectares.
BMEX common shares trade under the symbol "BMEX" on the TSX-V and under the symbol 8M0 on the Frankfurt Exchange.
For further information please contact:
BMEX Gold Inc.
Dylan Sidoo, Business Development
Tel: 1 (604) 423 4499
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This news release contains "forward-looking statements" and "forward looking information" (as defined under applicable securities laws), based on management's best estimates, assumptions, and current expectations. Such statements include but are not limited to, statements with respect to the plans for future exploration and development of the King Tut and Dunlop Bay properties and the acquisition of additional exploration projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts" , "anticipates" "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements, including but not limited to: risks related to the King Tut and Dunlop Bay projects; risks related to general economic conditions, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; increases in market prices of mining consumables, possible variations in resource estimates, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of exploration, development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in areas in which the Company operates. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any forward-looking statements or forward looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to the Company's most recent filings under its profile at www.sedar.com for further information respecting the risks affecting the Company and its business.
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