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BMEX Announces Multiple High-Grade Gold Discoveries at Dunlop Bay, Quebec

BMEX Announces Multiple High-Grade Gold Discoveries at Dunlop Bay, Quebec

-Samples up to 25.60 g/t Au at Surface-

Vancouver, British Columbia--(Newsfile Corp. - November 30, 2023) - BMEX Gold Inc. (TSXV: BMEX) (FSE: 8M0) ("BMEX" or the "Company") announces results from a highly successful 2023 surface exploration program at Dunlop Bay, Quebec, with up to 25.6 g/t Au (grab sample) and three new gold zone discoveries that are open in all directions.

The 2023 summer and fall prospecting and trenching programs focused on testing structural and geological lineaments, newly interpreted from the combined Magnetic and Lidar ("MAG-LiDAR") vertical derivative maps. Amongst the nine trenches successfully reaching bedrock, five trenches were gold-bearing (Figure 1) and Table 1 for results.

  • Highlight grab samples:
    • trench 14 returned up to 25.60 g/t Au,
    • trench NW2 up to 15.60 g/t Au,
    • trench 22 up to 10.45 g/t Au and,
    • trench B up to 2.69 g/t Au.

These new high-grade results are from areas with very limited assay data (Figure 1). Gold concentrations are controlled by NW-SE trending MAG-LiDAR lineaments (similar to the historical Marcelle, Edith, and Rolande veins). Detailed mapping of the trenches confirmed the coincidence of the gold-bearing structure and features identified by geophysics has revealed that these lineaments consist in barely deformed sulfide-rich (locally massive) intervals. The sulfide-rich gold bearing horizons are more deeply weathered due to the higher sulfide content than the surrounding lithological units, resulting in local low topography that produce the combined MAG-LiDAR anomalies.

  • Trench 14 is also a totally new surface discovery. This MAG-LiDAR lineament contains the best results of the campaign (25.6 g/t Au). This new surface anomaly has a strike length of over 1 km that is untested. Again, the mineralization consists of thin semi-massive to massive sulfide (pyrite) layers.

  • Trench NW2 is a new discovery made 400 metres northwest of the closest historical showing. It is widely mineralized and returned 12 values over 0.1 g/t Au out of 23 surface samples taken during the program on this trench. Those 12 gold bearing samples also delivered interesting silver values with a mean for those 12 samples at 15.53 g/t Ag and reaching up to 47.2 g/t Ag. Gold mineralization is associated with pyrite-arsenopyrite-rich basaltic and rhyolitic rocks. A significant iron oxide alteration and deep weathering was encountered in this trench. Accompanying this alteration, a few preserved semi-massive to massive sulfides samples were taken at the very edge of the outcropping surface (Figure 2). This indicates that the overburden-covered NW-SE depression might conceal a sulfide-rich area. This area located at the southwest margin of the trench is defined to be 2 to 2.5 metres thick. Additionally, a lithogeochemical analysis of the mineralization taken from felsic rocks encountered in trench NW2 revealed a multielement pattern similar to the felsic rocks seen at Dunlop Bay Ouest (see September 6, 2023 release and multielement diagram on Figure 2).

  • Trenches 22 and B cross cuts the same lineament at two different locations which is barely explored northwestward and southeastward.

Finally, Au concentrations from the 2023 field campaign are significantly correlated to Bi (Table 1 and Figure 2), Ag, and at a lesser extent, to As-Cu. Such metallic associations were previously documented by BMEX at Dunlop Bay Ouest and interpreted as a contribution from intrusion-related fluids to the mineralizing events. Those elements in correlation with gold will be used by the company as a pathfinder in the interpretation of this summer's soil programs.

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Figure 1 : Summer and fall 2023 surface gold assay results.

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Robert Pryde, President and CEO of BMEX Gold stated: "The goal of this year's surface program was to find new gold-rich zones and to link these to the existing historical occurrences, both of which were accomplished. Our exploration strategy and especially the use of MAG/ LiDAR surveys in this region has proved to be remarkably efficient at identifying the traps for gold-rich mineralization at Dunlop Bay. We now have an additional 1 km long prospective lineament with trench 14. Based on the elemental associations, our confidence is increasing that the Dunlop Bay intrusion is playing a significant role in gold and copper endowment. The identification of similar geological, lithogeochemical signatures and metallic associations between Dunlop Bay Ouest and trench NW2 mineralization is a huge advancement. Indeed, we are starting to consider these two assets as one, resulting from the same mineralizing event. We are excited to drill test below trenches NW2 and 14 notably, to potentially find further gold-rich sulfide lenses."

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Table 1 : Fall 2023 surface results for Au > 0.1 g/t

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Figure 2 : Trench NW2 results and interpretations

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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 quality control program were planned and supervised by Maxime Bouchard. The quality assurance and quality control protocol include insertion of one blank and one standard for every 50 samples, in addition to the regular insertion of blank, duplicate, and standard samples accredited by ALS Canada Ltd. during the analytical process. The Qualified Person has not completed sufficient work to verify the historical information on the Property, particularly in regard to 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/189335

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2023-11-30 13:31:00

Vancouver, British Columbia--(Newsfile Corp. - June 14, 2021) - BMEX Gold Inc. (TSXV: BMEX) (OTCQB: MRIRF) (FSE: 8M0) ("BMEX" or the "Company") is pleased to announce that diamond drill hole TUT-21-018 has intersected visible gold assaying 81.89 g/t Au over 0.45 metres at its King Tut Gold Project ("King Tut" or the "Project"), located in the Abitibi region of Quebec, Canada (Figures 1 and 2). A re-assay of the sample returned 143.79 g/t Au. All assay results for the Company's recently completed its 2020-21 drill program at King Tut have now been received. Results for drill holes TUT-21-011 to TUT-21-019 can be found in Table 1; collar coordinates and hole orientations are listed in Table 2. Previous results were reported in press releases dated March 11, 2021 and March 23, 2021.

Warner Uhl, President and CEO of BMEX Gold, commented, "I am very pleased with the assay results from hole 18, which was one of the last holes targeting the main structure at King Tut. In addition, we are pleased that nearly all our drill holes have returned gold mineralization over variable widths which is very encouraging for a first pass drill program. The system carries high-grade gold and our geological consulting team will be evaluating the whole drill program in conjunction with other geophysical tools and modelling to create a robust follow-up exploration program. We are well financed for this work and we are collaborating with one of the best geological teams in Canada."

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Figure 1: Location Map of King Tut property.

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Figure 2: Location Map for 2020-21 Drill Program.

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Figure 3: VG in Drill Core (TUT-21-018).

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Assay results for the 19-hole, 5119-metres drill program are currently being compiled with the historic drill results as the Company continues to build a comprehensive exploration model for the Project. Recent results, especially this new high-grade interval, confirm the presence of high-grade gold system at King Tut. Upcoming work includes a drone magnetic survey this summer to support detailed geological modelling. The new exploration model will provide the basis for a targeting study ahead of a follow-up diamond drill program in the fall.

DDH From (metres) To (metres) Length (metres) Au (g/t)
TUT-21-018 185.65 186.10 0.45 81.89
TUT-21-018 33.00 34.10 1.10 0.80
TUT-21-018 89.60 90.60 1.00 1.20
TUT-21-018 144.15 145.40 1.25 0.96
TUT-21-011 72.00 78.50 6.50 1.18
including 72.00 73.00 1.00 5.82
TUT-21-011 92.50 98.00 5.50 0.59
including 94.90 95.50 0.60 2.50
TUT-21-011 118.90 127.50 8.60 0.22
including 125.25 126.00 0.75 0.99
TUT-21-012 8.00 12.00 4.00 1.30
including 8.00 9.00 1.00 3.62
TUT-21-013 7.00 7.80 0.80 2.16
TUT-21-014 16.50 19.50 3.00 0.66
including 18.50 19.00 0.50 2.41
TUT-21-014 26.00 33.00 7.00 0.43
including 29.40 30.00 0.60 1.79
TUT-21-014 54.00 63.00 9.00 0.35
Including 55.00 55.50 0.50 1.80
including 61.00 62.00 1.00 1.52
TUT-21-014 248.80 249.35 0.55 0.52
TUT-21-015 9.75 15.20 5.45 0.20
including 9.75 10.80 1.05 0.39
TUT-21-016 232.75 233.40 0.65 2.08
TUT-21-017 NSR*
TUT-21-019 NSR*

 

* Note that results are presented uncapped and lengths represent core lengths. NSR = No Significant Result.

Table 1: Results from TUT-21-011 to TUT-21-019

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Table 2: Localization of diamond drill hole TUT-21-011 to TUT-21-019.

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QAQC

Diamond drill core was logged and sampled at the Services Geologiques T-Rex Inc. facility located in Evain, Quebec. Samples consist of NQ-size core sawed in half over variable sample intervals, with one half bagged and tagged for delivery to Techni-Lab - S.G.B. Abitibi Inc., a division of Actlabs. Quality assurance and quality control protocols include the insertion of blank samples (1 every 50), certified reference material (standard) samples (1 every 50), preparation duplicates (1 every 50) and quarter core duplicates (1 every 50), in addition to the regular insertion of blank, duplicate, and standard samples accredited by the lab. Holes TUT-20-005 to TUT-21-019 were assayed for gold using standard fire assay on a 30 g fraction with atomic absorption finish, and gravimetric finish for grades above 3 g/t.

Qualified Person

Maxime Bouchard, Geo, M.Sc. (OGQ #1752), Consulting Geologist with Laurentia Exploration is the Qualified Person (as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects) for the Company and has approved the technical disclosure contained in this news release.

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]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87418

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2021-06-14 06:30:00

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