BMEX Gold Discovers Luxor Gold Zone at King Tut and Announces its 2022 Exploration Program for King Tut and Dunlop Bay Properties
BMEX Gold Discovers Luxor Gold Zone at
King Tut and Announces its 2022 Exploration
Program for King Tut and Dunlop Bay
Properties
Vancouver, British Columbia--(Newsfile Corp. - April 26, 2022) - BMEX Gold Inc.
(TSXV: BMEX)
(
OTCQB: MRIRF) (FSE: 8M0) ("BMEX
"
or the
"
Company")
is pleased to announce the results of its
Fall 2021 drilling campaign at King Tut Gold Project ('King Tut" or the "Project") in the Abitibi region,
Québec, Canada. Significant grades include 7.07 g/t Au over 1.00 m from drill hole TUT-21-032 in a
newly discovered gold zone (the Luxor Gold Zone) and 7.61 g/t g/t Au over 0.75 m within the known
mineralized area from drill hole TUT-21-023. All assays from the Fall 2021 drill campaign at King Tut
have been received and reported. Figure 1 shows the location of the discussed drill holes with their
significant intersects. Composited gold grades are resumed in
Table 1
. Collar coordinates and drill
holes information are listed in
Table 2
.
TUT-21-032, which returned the above-mentioned promising grades of the campaign, is located 700 m
South-West from the King Tut showing, along the Main King Tut trend (
Figure 1
). This drill hole is
isolated and thus defines a new gold zone (Luxor Zone) on its own. Gold in TUT-21-032 is associated to
a silicified tourmaline-carbonate-pyrite brecciated zone which marks the contact between relatively
ductile tuffs and more competent andesite unit (
Figure 2
). Fall 2021 drill holes in the heart of the known
King Tut showing delivered several similar gold-bearing geological conditions to TUT-21-032. Every drill
hole along the Main King Tut Trend intersected evidence of an intense deformation corridor: intensely
sheared zones, complex folding of S1 and pervasive sericite-carbonate-silica alterations. As shown on
Figure 1, TUT-21-032 also cuts a West-South-West lineament interpreted from the magnetic
susceptibility maps. Hence, this drill hole, being isolated but potentially cross-cutting two major structures
and exhibiting typical gold-bearing hydrothermal mineralization known in greenstone belts, represents a
highly prospective discovery for the Company.
Figure 1 : Fall 2021 drill holes and significant assays results
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5785/121646_9f25ab6454bd7b45_001full.jpg
Figure 2 : TUT-21-032 intersection
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5785/121646_9f25ab6454bd7b45_002full.jpg
In addition to TUT-21-032's Luxor zone, gold grades were also found in TUT-21-030 which targeted the
Audet-Ouest showing vicinity. TUT-21-030 intercepted 1.68 g/t Au over 1.50 m and 0.32 g/t Au over 7.50
m at 150 m East of the known surface occurrences from Audet-Ouest showing. These intersections and
the historical surface gold values from the showing are aligned along a West-South-West lineament
interpreted from the magnetic susceptibility maps (
Figure 1
). This lineament, from now mentioned as the
Audet-Ouest trend, is unexplored and TUT-21-030 gold grades are the first drilling results over it. The
rest of the Fall 2021 drilling results are located within the known King Tut showing.
Drill hole
From (m)
To (m)
Core
length (m)
Au (g/t)
Ag (g/t)
GxT
TUT-21-032
56.50
57.50
1.00
7.07
0.80
7.07
88.00
89.00
1.00
0.40
0.10
0.40
61.50
64.50
3.00
0.30
0.10
0.90
TUT-21-023
102.55
103.30
0.75
7.61
0.50
5.71
63.00
66.00
3.00
0.82
0.20
2.45
127.50
137.00
9.50
0.50
0.12
4.78
Including
127.50
130.10
2.60
0.93
0.12
2.42
TUT-21-021
41.00
45.00
4.00
0.99
0.22
3.95
52.50
53.80
1.30
1.21
0.10
1.57
TUT-21-033
116.00
121.00
5.00
0.64
0.24
3.18
TUT-21-024
382.40
383.90
1.50
1.86
0.40
2.79
240.00
243.00
3.00
0.33
0.15
1.00
154.30
155.80
1.50
0.58
0.30
0.87
247.00
249.00
2.00
0.40
0.27
0.80
TUT-21-030
192.00
193.50
1.50
1.68
0.20
2.51
147.00
154.50
7.50
0.32
0.04
2.41
95.00
96.00
1.00
0.49
0.30
0.49
TUT-21-031
69.50
78.20
8.70
0.24
0.16
2.05
TUT-21-022
80.20
89.05
8.85
0.28
0.16
2.46
Including
80.20
85.50
5.30
0.42
0.19
2.22
Including
82.70
85.50
2.80
0.63
0.19
1.77
TUT-21-029
238.30
238.80
0.50
3.56
0.30
1.78
43.45
47.60
4.15
0.29
0.11
1.20
211.10
213.50
2.40
0.34
0.10
0.82
241.20
243.00
1.80
0.28
0.16
0.51
TUT-21-027
33.50
38.00
4.50
0.35
0.14
1.56
58.95
61.00
2.05
0.31
0.10
0.63
Table 1 : Fall 2021 drilling results
Drill hole
Azimut
Dip
Final length
(m)
UTM NAD83
EAST
UTM NAD83
NORTH
Elevation
TUT-21-020
145
-45
171
680206
5427223
321
TUT-21-021
145
-45
175
679599
5426879
321
TUT-21-022
145
-45
144
679912
5427035
321
TUT-21-023
145
-45
113
680225
5427191
321
TUT-21-024
145
-45
82
680539
5427347
321
TUT-21-025
145
-45
51
680852
5427502
321
TUT-21-026
145
-45
20
681166
5427658
321
TUT-21-027
145
-45
-11
681479
5427814
321
TUT-21-028
145
-45
-42
681793
5427970
321
TUT-21-029
145
-45
-73
682106
5428126
321
TUT-21-030
145
-45
-104
682419
5428281
321
TUT-21-031
145
-45
-135
682733
5428437
321
TUT-21-032
145
-45
-166
683046
5428593
321
TUT-21-033
145
-45
-197
683360
5428749
321
TUT-21-034
145
-45
-228
683673
5428905
321
TUT-21-035
145
-45
-259
683986
5429061
321
TUT-21-036
145
-45
-290
684300
5429216
321
Table 2 : Fall 2021 drill holes information
Robert Pryde, President of BMEX Gold, commented: "Overall, the results from the Fall 2021 drilling
campaign are promising especially when one considers the Luxor gold zone is a new gold discovery on
the property and the geology of this zone warrants follow up work. Each of the holes in the 2021 drill
campaign at King Tut intersected gold values which is a very important indication of the potential for a
regional scale system on the property and demonstrates potential for additional gold discoveries.
Our
technical team is building a strong understanding of the gold occurrence and emplacement over the
known and newly discovered assets at King Tut. Accordingly, we are going back to King Tut in 2022,
starting with a field prospecting and mapping survey during Summer followed by a drilling campaign
during Fall 2022.
We also intend to launch an exploration program on the Dunlop Bay Property this year."
Following the compilation work over the Dunlop Bay Property (Mattagami region, Quebec, Canada) the
BMEX technical team has identified several base and precious metal trends that are summarized in
(
Figure 3
).
The Dunlop Bay exploration program started in April with a surface MAG-EM survey over Dunlop Bay-
Ouest and interpretation. Surface prospecting, mapping and sampling is planned over the balance of the
property during summer 2022, with a focus on the 'Baie Dunlop' showing and 'Mont Laurier Est'
extension. The results from these two steps will be used to target a 3,000 metres drilling campaign that
is planned for Fall 2022.
Figure 3 : Dunlop Bay Property 2022 prospecting and mapping goals
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5785/121646_9f25ab6454bd7b45_005full.jpg
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 historic
information on the Property, particularly in regards 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 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.
Robert Pryde, President
Tel: +1 (403) 478 6042
Email:
Dylan Sidoo, Business Development
Tel: +1 (604) 423 4499
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.
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.sedar.com for further information respecting the risks affecting the Company and its
business.
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