QcX has an option to earn a 100% interest in the Fernet project. The Fernet property is 7,251 hectares and is located in the northern Abitibi region of Quebec, Canada. It is comprised of two blocks of claims contiguous with Wallbridge Mining’s Fenelon/Martiniere property with multiple high-priority structural intersections. Fernet is underlain by Archean volcanic rocks that are host to numerous gold, silver, and base metal occurrences along the Sunday Lake portion of the northern Abitibi Greenstone belt.
Contiguous with Wallbridge’s Detour Trend project, the Fernet lies 15 km northwest of Fenelon mine (bulk sample of 33,233 tonnes at 18.49 g/t Au – Wallbridge news May 15, 2019), 4 km north of the Martiniere gold deposit (open pit-constrained Indicated gold resource of 431,000 ounces at an average grade of 2.0 g/t and an Inferred gold resource of 11,000 ounces at an average grade of 2.5 g/t; an additional underground Indicated resource of 159,000 ounces at an average gold grade of 4.5 g/t and an Inferred resource of 43,000 ounces at an average gold grade of 5.8 g/t – Balmoral Resouces news March 27, 2018), and 55 km east of Detour Lake mine ( ~15.4 Moz mineral reserves including proven mineral reserves of 3.4 million ounces (85.2 million tonnes at an average grade of 1.24 grams per tonne) and probable mineral reserves of 12.1 million ounces (413.2 million tonnes at an average grade of 0.91 grams per tonne) as of December 31, 2018 – Detour Gold news dated March 7, 2019) ). Numerous mineral occurrences are present in the area.
QcX is currently targeting NW & NE trending fault intersections, similar to Wallbridge’s Fenelon & Martiniere gold deposits.