BMEX Provides Exploration Update On Dunlop Bay Property
BMEX Provides Exploration Update On Dunlop
Bay Property
Vancouver, British Columbia--(Newsfile Corp. - August 18, 2022) - BMEX Gold Inc.
(TSXV: BMEX)
(
OTCQB: MRIRF) (FSE: 8M0) ("BMEX
"
or the
"
Company")
is pleased to announce an exploration
update on a recently completed field program on the Dunlop Bay Property ('Dunlop Bay" or the
"Property") in the Abitibi region, Québec, Canada (
Figure 1
). The program is designed to: 1) validate
presence and location of historical mineralization; 2) enhance the understanding of the various structural
and geological controls to help design this fall's drilling program; 3) find the continuity of existing
mineralization and; 4) discovery of new showings.
Figure 1: Geological map of the Dunlop Bay Property and location of historical gold showing validated
during the 2022 field program.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/5785/134106_ca48251a44e9b8c9_001full.jpg
Robert Pryde, President and CEO of BMEX Gold commented, "I am very pleased with the quality of
work to date on the Dunlop Bay project. We combed through a lot of data to identify the best gold and
VMS exploration opportunities on this project and our field program has validated our analysis. We have
identified the mineralized veins as well as historical drill hole collars and what we are seeing exceeded
our expectations and gives us added confidence in our upcoming drill program."
Previous data compilation on Dunlop Bay showing had identified high grade surface gold mineralization
including the Bella (historical grab samples returned up to 273.71 g/t Au, GM 16102) and Omela veins
(historical grab samples returned up to 14.46 g/t Au, GM 16102). To date, the team has identified and
validated the location of most of the mineralisation highlighted in the compilation of historical work
including the Bella, Omela, Edith, Rollande, Venus and Galena veins (
Figures 1 and 2
). Several
samples were taken on each mineralized zone and results are pending from ALS Laboratory. These
veins are hosted along a WNW-trending corridor forming an approximately 2 km long highly prospective
horizon for mineralization. The summer field work suggests that the structures encountered continues
Eastward of the Dunlop Bay showing with a possible untested link between Bella and Omala veins
(
Figure 1
).
Figure 2: Photographs of the historical gold showing observed in the field.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/5785/134106_ca48251a44e9b8c9_002full.jpg
Field reconnaissance made on Dunlop Bay West showing (or Ghislau) and on westward extension along
the ground Electro Magnetic (EM) survey grid led to the identification of anomalously pyritized (10-25%
pyrite and minor chalcopyrite) intermediate to felsic lavas located in the environment of the detected EM
anomalies 1, 2 and 3 (
Figure 3
). The historical Ghislau showing was found slightly south of EM Anomaly
3, and is composed of a 2 to 3 metres thick horizon oriented N300/65 of silicified intermediate to felsic
rock overlaying between two flows of hyaloclastic to flow brecciated basalts (
Figure 4
). Orientation and
dip of the anomalous pyrite-rich horizon show that it could be related with conductor Anomaly 3 at depth.
The Ghislau showing confirms the sulfides-rich mineralization style and the high potential of lateral
continuity along the WSW trend provided by EM anomalies 1 and 2.
Figure 3: Ground EM survey of the Dunlop Bay Ouest Showing area with 2022 outcrops location.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/5785/134106_ca48251a44e9b8c9_003full.jpg
Figure 4: Ghislau showing hosted in intermediate to felsic volcanic sequence. Mineralization is
associated with metric sulfides horizon (pyrite+chalcopyrite).
To view an enhanced version of FIgure 4, please visit:
https://images.newsfilecorp.com/files/5785/134106_ca48251a44e9b8c9_004full.jpg
Prospection made on EM Anomaly 1 and 2 led to the observation of a felsic rocks package of over 200
metres associated with an anomalous pyritization background (5 to 15%) and local sulfide stringers
(
Figure 3
). This area is clearly affected by hydrothermal fluids and suitable for Ghislau mineralized
extension. The Company is now working on defining an extended ground EM survey south-west of this
spring grid to refine information on Anomaly 1 and to provide further information on these trends prior to
the fall drill program.
Historical drill collars have also been identified on Dunlop Bay allowing for more precision on the
upcoming diamond drill program.
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 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 their 100% interest in the 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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