BMEX Announces Multiple High-Grade Gold Discoveries at Dunlop
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.
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."
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:
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.
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