BMEX Identifies High Priority Gold and VMS Drill Targets From Soil Sampling and Geophysics at Dunlop Bay, Quebec

BMEX Identifies High Priority Gold and VMS Drill Targets From Soil Sampling and Geophysics at Dunlop Bay, Quebec

February 27, 2024 7:00 AM EST | Source: BMEX Gold Inc

Vancouver, British Columbia--(Newsfile Corp. - February 27, 2024) - BMEX Gold Inc. (TSXV: BMEX) (FSE: 8M0) ("BMEX" or the "Company") announces very positive results from the summer 2023 reconnaissance geochemical soil program at Dunlop Bay, Quebec.

During the summer of 2023, BMEX commissioned a reconnaissance geochemical soil survey in conjunction with the 2023 successful trenching program (see BMEX release November 30, 2023). The purpose was to test the viability of using soil geochemistry to identify potentially mineralized zones to the SE of BMEX's extension of the Marcelle-Edith trend. The program was to test two different methods (Ionic Leach and Aqua Regia) and was executed along one known gold occurrence (Edith zone on the Western grid) and along the underexplore eastern side of the property (Figure 1).

Recent results from this survey has revealed a good correlation of Ionic Leach method to identify the known Edith zone (western grid on Figure 2). This method has also highlighted several other geochemically anomalous areas. Those anomalies seem to be linked together using lineaments from MAG/LIDAR combined product (see Figure 2), but infill soil survey is needed to confirm the model.

President Robert Pryde stated, "The combined use of LIDAR/Magnetics mapping and soil geochemistry to detect lineaments of interest, brings a whole new dimension to identifying mineralization within the Dunlop Bay Region and ultimately provides BMEX with rapid low-cost targeting to focus exploration dollars. With this data we have better precision to select drill targets with defined strike length and width estimates for the 2024 Exploration program."

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Figure 1: Location of 2023 surface soil geochemistry grid along the know Edith zone (red square) and the eastern exploration grid (blue square).

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Figure 2: Ionic Leach soil survey interpolation and interpreted mineralized trends based on the MAG/LIDAR and field observations.

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Qualified Person

Maxime Bouchard, Geo, M.Sc. (OGQ #1752), an independent Qualified Person as defined by Canadian NI 43-101 standards, has reviewed, and approved the geological information reported in this news release. The exploration and soil program was planned and supervised by Maxime Bouchard. The samples were analyzed by ALS Canada Ltd. using Ionic Leach Method (ME-MS23, pH-MS23 and OA-ELE07). The Qualified Person has not completed sufficient work to verify the historical information on the Property, particularly regarding historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

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 their 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.
Robert Pryde President and CEO
Tel: +1 (403) 478-6042
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.

Forward-looking Statements

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.sedarplus.ca for further information respecting the risks affecting the Company and its business.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199467


2024-02-27 07:00:00

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