QMX extends S1 zone at depth with grades of 14.9 g/t Au over 3.2 meters at the Lac Herbin mine
Friday, Jan 18, 2013
QMX GOLD CORPORATION (TSX:QMX)(OTCQX:QMXGF) ("QMX Gold" or the "Company") is releasing results from the 2011 and 2012 drill campaign at its wholly-owned Lac Herbin mine for the S1 Deep Sector. Definition diamond drilling results have increased the outline of the S1 zone, shown in Figure 1.
Full Results can be found in Table 1.
The drilling of the S1 Deep Sector, below level 37, was started in the third quarter of 2011 and was completed in the second quarter of 2012 and analysis occurred in the third quarter. Exploration work focused on definition drilling of the resource envelope with the goal of expanding the zone. Drilling confirms the extension of the S1 zone at depth.
QMX targeted the S1 Deep Zone with definition drilling of 42 holes for a total of 4,589 metres. Of the 42 holes, 14 holes (or 33%) returned values above 3g/t Au, 8 holes (or 19%) have intersected values from 1g/t Au to 3g/t Au and 20 holes (or 48%) intersected the shear zone but returned values lower than 1g/t Au. These characteristics are typical of Lac Herbin economical mineralization throughout the mine.
Ramping down and development to reach the S1 Deep sector was started in the fourth quarter of 2012. Production from this zone is forecast to begin during the third quarter of 2013.
The S1 Deep Zone is hosted in the massive diorite Bourlamaque Batholith and is a sheared structure with an azimuth of 80 degrees ENE dipping towards the south at 70 degrees. The shear varies in thickness from a few centimeters to 2.0 meters wide and is injected with quartz and quartz-carbonate-tourmaline-chlorite veining. The veining contains 1% to 10% patchy massive and disseminated pyrite with trace chalcopyrite and rare pyrrohotite. Gold is associated with pyrite.
Francois Perron, the President and CEO of QMX Gold, commented: "Our exploration program at Lac Herbin continues to provide very positive results and I am pleased to see that the S1 zone is delivering. The goal of the definition drill program was to extend the mine life at Lac Herbin and these new drilling results are being incorporated into the new reserves. I look forward to the announcement of the updated resources and reserves currently expected before the end of the first quarter."
Qualified Persons and Quality Control
The technical and scientific information in this press release has been compiled, reviewed and verified by Ronald G. Leber, P.Geo. Chief Geologist - Mine Lac Herbin, QMX Gold Corporation and Qualified Person as defined by National Instrument 43-101 guidelines. Mr. Leber is also the Qualified Person who directly supervised the drill program and all technical work conducted at Mine Lac Herbin, as summarized herein. Diamond drill core was logged and sampled by company personnel at the Lac Herbin mine. LTK-48 size definition core is entirely bagged and submitted for assay. Assaying was done by Accurassays Laboratories in Thunder Bay, Ontario by fire assay methods with AA finish, and secondary assays by fire assay with gravimetric finish if Au was greater than 3g Au/tonne. Samples with visible gold were assayed by metallic screening. In addition to Accurassays standards, blanks and duplicates, the Lac Herbin Geology Department inserts blanks and blind standards into the sample stream at a frequency of one in twenty samples to monitor quality control.