Exploration and Custom Milling Opportunities in the Abitibi Greenstone Belt
This QMX Gold Corp. profile is part of a paid investor education campaign.*
QMX Gold Corp. (TSXV:QMX) is a junior resource company actively exploring for gold in the Val d’Or Mining Camp of Quebec’s Abitibi Greenstone Belt. The company has amassed an expansive yet underexplored land package in the region along with the fully-permitted Aurbel Mill. QMX Gold is building out a deep database for applying new geological models and developing new targets on its 200-square-kilometer Val d’Or Mining Camp property.
The Canadian province of Quebec is a prime jurisdiction for gold exploration given the geological prowess of its mineral-rich regions such as the prolific Abitibi. In addition, Quebec’s low-cost drilling, favorable tax schemes, skilled workforce, excellent infrastructure and supportive government policies make it one of the most attractive mining jurisdictions in the world.
QMX Gold’s recent success in Val d’Or includes completing a maiden NI 43-101 resource estimate on the Bonnefond Deposit in the East zone and the excellent drill results coming out of the River target in the Bourlamaque zone. The company’s catalysts for 2020 include increasing the size and confidence in the Bonnefond resource estimate, further drilling on the River target as well as compiling data and establishing new priority targets for drilling.
QMX Gold’s management team is stacked with highly-experienced capital markets and mining professionals with extensive backgrounds working in Quebec and around the world. President and CEO Brad Humphrey’s two decades of mining and precious metals experience spans from his early days as an underground miner to most recently as Executive Director and North American Precious Metals Analyst at Morgan Stanley. Senior Vice President David Rigg has more than 30 years of experience in the mining industry, including with Agnico Eagle Mines as Exploration Manager Agnico Eagle Mines in Val d’Or, Quebec. Chairman Robert C. Bryce is a retired member of the Quebec Order of Engineers and a fellow of the Institute of Mining and Metallurgy with nearly half a century of mine construction and operation experience.
QMX Gold’s Company Highlights
- Excellent exploration upside in premiere mining jurisdiction of Quebec known for low drilling costs, highly supportive government and the second-largest gold producer in Canada.
- 200 square kilometer land package surrounded by successful projects in the Val d’Or Mining Camp.
- Fully-permitted custom mill gives the potential to generate near-term cash flow.
- Highly active exploration focus provides an opportunity for constant news flow.
- Maiden NI 43-101 Resource Estimate on Bonnefond deposit.
- 2020 multi-target exploration program planned: updated resource estimate targeting expansion and increased confidence; further drilling on high priority River target; compiling data for new exploration targets.
- Team of serious mining industry professionals with track records of success.
- Supportive corporate shareholders: Eldorado Gold (19.9 percent); Osisko Gold Royalties (7 percent); Probe Metals (4 percent).
Val d’Or Mining Camp Property
QMX Gold’s expansive landholdings are strategically located in the Val d’Or Mining Camp of Quebec’s prolific Abitibi Gold Belt.
QMX Gold’s 200 square kilometer land package covers 479 mining claims divided into four zones: the East zone, Bourlamaque zone, Southwestern zone and Central zone.
Since 2017, QMX has been evaluating, defining and drilling exploration targets across the Val d’Or Mining Camp property. Property-wide geophysical surveys highlighted multiple new targets. Over 50,000 meters of drilling has helped to support a reinterpreted geological model for the land package. In July 2019, expansion drilling on the Bonnefond South target in the East zone lead to a maiden NI 43-101 resource estimate. New discoveries include the River Target in the Bourlamaque Zone.
East Zone: Bonnefond Mineral Resource Estimate
The East Zone covers approximately 40 square kilometers with several gold-bearing intrusions and three major exploration targets: Bonnefond South, New Louvre and the Bevcon Intrusive.
More than 60 percent of the NI 43-101 resource estimate on the Bonnefond Deposit is in the indicated category.
The deposit demonstrates consistency in grades and continuity of the main zone. The mineralized shear zone systems remain open in all directions. Drilling is underway to move the inferred resources in the intrusive into the indicated category and to evaluate the potential to add more ounces in the higher grade shear zones surrounding the intrusion.
QMX Gold intends to investigate the potential for further discoveries in the East zone in 2020.
Bourlamaque Zone: New Discovery at River Target
The Bourlamaque zone is in close proximity to QMX Gold’s Aurbel Milling Facility. This zone hosts multiple past-producing gold mines with strong potential along parallel shear zones and extensional veins. In 2019, QMX Gold evaluated near-term targets in the Bourlamaque zone including the River and Poulmaque targets.
First discovered in 2011 by a previous operator, the River target is located about 1 kilometer west of the previously operating mines in the Lac Herbin-Dumont-Ferderber gold system, which produced a total of 793,000 ounces of gold historically.
QMX Gold commenced a reconnaissance drill program in the fall of 2019. Highlights from the initial results returned in January 2020 include:
- 7.76 g/t gold over 2.9 meters.
- 39.83 g/t gold over 2.0 meters.
- 17.71 g/t gold over 4.0 meters.
Fully-Permitted Aurbel Custom Mill
The 1,200 tonne per day Aurbel Mill is located 15 kilometers east of Val d’Or with rail and road access. QMX Gold’s acquisition of the Aurbel Mill in 2008 gives the company the opportunity to pursue custom milling opportunities in the Abitibi region through commercial production and bulk sampling agreements.
Using conventional crushing, grinding, gravity, flotation and cyanide leach circuits, the Aurbel Mill is highly customizable and can be tailored to the specific metallurgical requirements of the material provided.
QMX Gold’s Management Team
Brad Humphrey — President, CEO and Director
Brad Humphrey has more than 20 years of international mining experience, predominantly as a precious metals analyst. Prior to joining QMX Gold, Humphrey worked for Morgan Stanley as an Executive Director and North American Precious Metals Analyst, where he was responsible for growing Morgan Stanley’s North American Gold research coverage. Humphrey was also a Managing Director and Head of Mining Research at Raymond James and covered precious metal equities at CIBC World Markets and Merrill Lynch. Before starting his capital markets career, Humphrey held a variety of mining industry roles from Corporate Development to contract underground miner.
David Rigg — Senior Vice President and Strategic Advisor Exploration
David Rigg has more than 30 years of experience in the mining industry, including work on exploration and mine development programs in Ontario and Quebec. Most recently, he was President and CEO of the former Alexis Minerals Corporation and was the President and CEO of Liberty Mines. He has worked for Agnico Eagle Mines in Val d’Or, Quebec in various capacities including Exploration Manager Agnico Eagle Mines and has gained international experience in Africa and Sweden. He contributed to the discovery of the Musselwhite Mine and was a member of the Laronde Mine discovery team awarded Prospector of the Year award by the QPA in 1995. Rigg obtained a B.A. and M.A. from King’s College, Cambridge University, England in 1978 and an M.Sc. at Queens University in 1980.
Dr. Andreas Rompel — Vice President Exploration
Dr. Andreas Rompel is a seasoned exploration professional with nearly 3 decades of exploration experience in a wide range of roles from VP Exploration and Project Manager to Country Manager and Corporate Development. Most recently, Dr. Rompel was the President & CEO of Cobalt Power Group. For more than a decade Dr. Rompel evaluated capital projects within Anglo American and was on the board of Spectrem (an Anglo-American Company) as Technical Director. He has worked in many countries on several continents and has well developed multi-linguistic skills.
Deb Battiston — Chief Financial Officer
Deb Battiston has more than 15 years of accounting, tax and corporate finance experience in Canada and Europe. From 2007-2010, she was the CFO of CD Capital Partners, a private real estate firm focused on developing mixed-use retail and office real estate in Russia, Ukraine and Romania. From 2001-2008, she was the CFO of MAVA Investment Ltd., a private equity firm based in Budapest, Hungary.
Robert C. Bryce — Chairman
Robert Bryce is a retired member of the Quebec Order of Engineers and a fellow of the Institute of Mining and Metallurgy. He has nearly 50 years of mine construction and operation experience. Bryce has extensive experience in Northwestern Quebec, including many junior exploration companies as well as larger operating companies. Bryce has been a member of the board of several mineral exploration companies, including Integra Gold Corp and QMX Gold (and its predecessor company from 2003 to 2016).
Ralph Lean — Director
Ralph Lean is a highly regarded business lawyer, recently retired from the Toronto office of Gowling WLG. Lean brings a broad base of expertise from startups to global corporations, in the private and public sectors as well as nationally and internationally. Lean was named one of the National Post’s “most influential” business people in Canada.
Honourable Sergio Marchi — Director
The Honourable Sergio Marchi has held a number of positions in both the private and public sectors, most recently as President and Chief Executive Officer of the Canadian Electricity Association. Mr. Marchi’s distinguished public service career includes his roles as Canadian Ambassador to the World Trade Organization in Geneva, UN Global Commissioner, Canadian Federal Cabinet Minister (International Trade, Environment, and Citizenship, and Immigration), Member of Parliament and Toronto City Councillor.
Edmund J. Elbert — Director
Edmund Elbert has worked in the Investment Industry for over 20 years. He presently holds the position of Senior Investment Advisor and Senior AssociateInvestment Banking, at Hampton Securities Ltd., in Toronto. Elbert was previously a director of Cobalt Power Group and a Strategic Advisor to the board for Trusty (rewards Solutions Tech). Elbert brings invaluable experience to the board, in the Capital Markets. He has a vast amount of knowledge and expertise in the resource sector, where he has specialized in raising capital and developing new venture opportunities. Elbert continues to work with publicly traded Canadian exploration companies in mergers and acquisitions.
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