QMX Gold Corp. [QMX-TSXV; QMXGF-OTCQX] has provided an interim update of its NI 43-101 compliant Mineral Resource Estimate on its Bonnefond South property, located approximately 25 km east of Val d’Or, Quebec. The 2020 MRE was completed independently by BBA Inc. in accordance with the NI 43-101 guidelines. Since the last drill hole used for the 2020 MRE was finished, QMX has completed nearly 14,000 metres of drilling on the Bonnefond property and is planning more exploration drilling during the winter.
Highlights include an overall increase of 53% of the resources in the indicated category, an overall increase of 100% of the resources in the inferred category. A first underground resource of 140,600 ounces at 4.52 g/t gold, demonstrates the underground potential of the project, opening up a target zone between 350 and 1,000 meres in depth. There is now a new geological model with stronger control of the mineralized envelopes.
â€œThe QMX exploration team continues to build on its successes, not only reporting more than a 50% increase in resources in the indicated category and 100% increase in the inferred category, in this interim update at Bonnefond, but also demonstrated the underground resource potential below the pit shell,â€ stated Brad Humphrey, President and CEO. â€œDrilling in 2020 set out considerable upside potential down to 1,000-metre depth and, I believe, our team will continue to â€œWe are very happy to have moved so many ounces from the inferred category into the indicated category,” commented Dr. Andreas Rompel, vice-president, exploration. “Furthermore we added a huge amount of resources for a potential underground mine as a result of the highly successful drilling campaign within the shear zones crosscutting the tonalite intrusive. We are very confident about the Bonnefond deposit and will continue to build on this estimate during the next drill campaigns.â€
Drilling on the Bonnefond property is still continuing with three drill rigs.
Preparation and planning are under way for the 2021 winter drilling campaign. The campaign will focus largely on the East zone, between the Bonnefond deposit and the past producing Bevcon mine, on wet ground areas accessible only during the winter months.