Vancouver, British Columbia – February 9, 2023 (Newsfile Corp.) (Investorideas.com Newswire) BMEX Gold Inc. (TSXV: BMEX) (OTCQB: MRIRF) (FSE: 8M0) (“BMEX” or the “Company”) is pleased to announce the results of its 2022 drilling program which represented 3,013 m drilled amongst 14 surveys. Gold values were obtained in almost every drill hole, with 15.20 g/t Au over 0.70 m intersected in Hole BD-22-07 targeting the Marcelle vein. In addition, a new gold zone was discovered with Hole BD-22-09 which intersected multiple gold-rich intervals in a previously undrilled area west of the Edith vein. Results from Hole BD-22-09 included 1.24 g/t Au over 0.60 m, 2.17 g/t Au over 0.50 m and 3.65 g/t Au over 0.50 m.
Figure 1 shows the position of the 2022 drill holes and Table 1 lists the best results from the campaign. Table 2 details the drill hole collar information. The 2022 drilling program on the Dunlop Bay property was initiated to: 1) test the surface results of the summer field campaign to test the potential continuity of the Marcelle-Rolande-Edith Gold corridor and 2) target the conductive plates from the ground EM survey at Dunlop Bay Ouest VMS area.
In the Marcelle-Rolande-Edith Gold Corridor, the heart of the Marcelle vein returned the best intercept of the campaign (BD-22-07) at a position consistent with the 3D understanding of the vein system. Hole BD-22-08 also extended the gold halo around Marcelle by 50 m southward. Hole BD-22-09 intersected a new area of gold mineralization west of the Edith vein which represents a new discovery and a major advancement for the property. Finally, the Bella vein trend was also extended by 260 m northwestward with anomalous gold intersected in Hole BD-22-11.
The Dunlop Bay Ouest area drilling confirmed the potential for both base and precious metals endowment on the volcanogenic system identified during the summer 2022 field program. Hole BD-22-06 returned up to 1.02% Zn over 1.50 m and Hole BD-22-01 reported 1.06 g/t Au over 0.50 m and 1.32% Cu over 0.50 m. The conductive plates form a 900 m strike footprint, of which the western half is barely explored. Some of the largest EM plates were not tested by the 2022 drilling and comprise future drill targets. With these results BMEX is considering performing BHEM surveys to track the continuity of the system at depth and laterally.
Robert Pryde, President of BMEX Gold, stated: “First, I am pleased to see that almost every drill hole, both on Dunlop Bay Ouest and Dunlop Bay sensu stricto intersected anomalous to high grade gold values. Regarding the Marcelle-Rolande-Edith corridor, last year’s data compilation led to the interpretation of a gold trend containing the historically defined veins at surface (Figure 1). Our drilling in 2022 has proven the continuity of Bella veins westward and a new gold discovery in Hole BD-22-09. This new zone opens fertile ground which strikes about 600 m between known veins at surface and includes the gold grades from Hole BD-22-10. We are planning to further refine and extend the gold-bearing zones at surface with an extensive stripping campaign at Marcelle-Rolande-Edith. An additional objective of stripping is to acquire detailed and statistical structural data on the veins systems to identify potential shoot directions and help in designing a later phase 2 drilling program.”
Figure 1: 2022 drilling results map
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
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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