BMEX Gold Announces Fall Exploration Program Targeting Precious Metal Rich VMS
BMEX Gold Announces Fall Exploration
Program Targeting Precious Metal Rich VMS
At Dunlop Bay, Quebec
Vancouver, British Columbia--(Newsfile Corp. - September 6, 2023) -
BMEX Gold Inc
.
(TSXV: BMEX)
(FSE: 8M0)
("
BMEX
" or the "
Company
") is pleased to announce its fall exploration program at Dunlop
Bay, contingent upon the closing of its $1,000,000 financing announced on August 29, 2023.
Following a successful summer exploration program that tested the gold vein system at Dunlop Bay,
BMEX intends to drill approximately 4,000 m into its VMS targets at both Dunlop Bay Ouest (DBO) and
Dunlop Bay Nord (DBN). At DBO, a strong Cu-Au-Mo correlation is observed in assays from sulfide-rich
rocks, which are typical of partially magmatic-derived fluids. The intrusion is already known to be widely
mineralized by Au-bearing quartz-carbonate-pyrite vein swarms. As a result of extensive data integration
and subsequent interpretation, BMEX's technical team has proposed a revised model for precious metal
rich massive sulfides at DBO. The team recognized Dunlop Bay's geology, stratigraphy, and rock
geochemistry were similar to three prolific regions in the area. As a reminder, BMEX drill hole BD-22-02
intersected over seven meters of combined massive sulfides and massive magnetite, see
Figure 1
and
October 25, 2022 news release
.
Whole rock analysis made on DBO drill holes confirm the presence and continuity of a calco-
alkaline felsic unit along DBO mineralized horizon. Geochemical signatures of this rocks shows
analogous pattern to other known felsic rocks hosting gold-rich VMS like LaRonde (Bousquet
mining camp, Mercier-Langevin, 2007). The multielement diagram and mapping of DBO felsic unit
are presented in
Figure 2.
In addition, the B26-Brouillan deposit, owned by Soquem Inc., located 100 km directly west of
DBO and 8 km from the former Selbaie Mine, shows rhyolites with similar geochemistry (Fayard,
2020) to the felsic rocks from DBO. The indicated resource at B26 Brouillan totals 6.97 Mt at
1.32% Cu, 1.80% Zn, 0.60 g/t Au and 43 g/t Ag. The inferred resource totals 4.41 Mt at 2.03% Cu,
0.22% Zn, 1.07 g/t Au and 9 g/t Ag (SOQUEM, press release, March 4, 2018).
The Daniel-25 (GM 70611) zone identified by Glencore lies 30 km west of Dunlop Bay and also
bears a similar geochemical signature host rock to DBO. The area has been known to be the host
of massive sulfides for at least a decade. Originally, exploration of this area intersected several
barren massive sulfides before discovering the Zn-Cu-Au-Ag rich lens discovery in 2015. The best
results from drilling between 2015 and 2017 included 4.69% Zn, 0.67% Cu, 0.137 g/t Au and 9.8
g/t Ag over 7.65 m (DAN-15-25); 3.05% Zn, 4.51% Cu, 0.33 g/t Au and 31.79 g/t Ag over 8 m
(DAN-15-27); 5.74% Zn, 2.37% Cu, 0.37 g/t Au and 22.85 g/t Ag over 10.3 m (DAN-16-36); 2.88%
Cu over 3.2 m and 10.19% Zn over 2 m, as well as 160.1 g/t Ag over 1 m (DAN-16-54).
"We are very intrigued by the newly evolved model for the Dunlop Bay Ouest-Nord asset, and we believe
this upcoming drill program will prove to be very significant," said Robert Pryde, President and CEO of
BMEX Gold. "Previous drilling by BMEX had targeted typical Matagami zinc-rich VMS style
mineralization. The drill program will use our new geological interpretation to better target the fall 2023
drilling. At the same time we look forward to seeing the results from our summer 2023 trenching program
on the gold vein targets at the Dunlop Bay s.s. Marcelle-Rolande-Edith gold-bearing trend."
Figure 1
- Drill core from the Dunlop Bay 2022 drill program showing stringers and massive sulfide
mineralization in Holes BD-22-01 and BD22-02.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5785/179685_3ccce77b446ffbdc_001full.jpg
Figure 2
- Felsic Rocks from Dunlop Bay Figure A show analogue multi-element signature to the
felsic rocks at the LaRonde Mine Figure B.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5785/179685_3ccce77b446ffbdc_002full.jpg
The upcoming 4,000 m drill program will be comprised of eight holes testing VMS targets at both the
Dunlop Bay Ouest and Dunlop Bay Nord (see
Figure 3 and 4
).
Dunlop Bay Ouest (DBO)
Target #1
focuses on the center of an untested punctual high-MAG located along the main EM
conductor. The edge of this high-MAG returned more than 7 m of combined massive sulfides and
massive magnetite hosted in the favorable felsic horizon. The proposed drill hole targets are 100
m step-out from previously drilled DDH GC-91-15 in which a large off-hole conductor was
identified during a recent Bore Hole Electro Magnetic (BHEM) survey.
Target #2
aims at intersecting Cu-Au-Mo rich sulfide mineralization along the conductor within the
intrusion.
Target #3
aims at punctual high-MAG within the intrusion boundary, close to where historical
DDHs 1300-N1 and 1300-N2 intersected over 30 gold-bearing veins and veinlets across 50 m of
the intrusion. Target #3 will also test the fold hinge within the volcanics just west of the high-MAG.
Target #4
will test the border between the DBO and the Southern domain, in which high-grade Au
veins strikes at a N110 bearing (Marcelle, Rolande, etc.).
Target #5
will test the conductive southern limb of the DBO, this is a favorable horizon where
strong Hashimoto alteration index are observed.
Dunlop Bay Nord (DBN)
Targets #6, #7
and
#8
are aimed at testing the lateral and vertical continuity of known Au-Zn
sulfide mineralization.
Figure 3
- Dunlop Bay Ouest & Dunlop Bay Nord
2023 drill targets.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5785/179685_3ccce77b446ffbdc_003full.jpg
Figure 4
- Dunlop Bay Ouest & Dunlop Bay Nord
2023 drill targets.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5785/179685_3ccce77b446ffbdc_004full.jpg
Marcelle-Rolande-Edith Gold-Bearing Trend Update
During the summer of 2023, the Company assessed several highly prospective gold bearing vein trends
within the Marcelle-Rolande-Edith trend. Seven high priority targets were identified, from which five were
trenched to date of which three successfully reached bedrock. Trenching assay results are pending. A
second phase of trenching is planned prior to winter 2023.
In respect of the Company's previously announced offering of up to 5,000,000 units at $0.04 per Unit for
gross proceeds of up to $200,000 (the "Offering"), the Company confirms that no funds from the Offering
will be used for payments to non-arm's length persons (other than normal course payments to officers of
the Company), and no funds from the Offering will be used for payments to persons conducting Investor
Relations Activities.
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 drilling campaign and the quality control program have been planned and supervised by
Maxime Bouchard. Core logging and sampling were completed by Laurentia Exploration. The quality
assurance and quality control protocol include insertion of one blank and one standard every 20
samples, in addition to the regular insertion of blank, duplicate, and standard samples accredited by
ALS Canada Ltd. during the analytical process. Gold values are estimated by fire assay with finish by
atomic absorption. 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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