Montreal, Quebec–(Newsfile Corp. – May 4, 2021) – QcX Gold Corp. (TSXV: QCX) (OTCQB: QCXGF) (FSE: 21MA) (“QcX” or the “Company“) is pleased to announce that it has secured a diamond drill rig for its upcoming inaugural drill program on the Golden Giant Project in James Bay, Québec. The drill is expected to mobilize to site by the end of May.
Approximately 3,000m of drilling is planned for the drilling program, with holes planned on the Golden Giant East and Golden Giant West blocks. Drill hole planning is in the final review stage after compiling information from two geophysical surveys as well as surface exploration data. The program is expected to last approximately six to eight weeks.
Selected drill holes have one or all of the following:
1) Gold values from grab samples taken during last summer’s surface exploration program
2) A magnetic geophysical feature (from survey conducted in January, 2021)
3) An induced polarisation geophysical anomaly (from survey conducted in February, 2021)
Aaron Stone, Vice President Exploration of QcX, stated, “It’s extremely pleasing that the Company has been able to secure a drill rig for Golden Giant, considering the current competitive landscape for drill rigs, especially in Quebec. The QcX team is very excited to see the rig mobilize to site and begin drilling in areas that have previously never seen a drill hole. We have executed a methodical exploration program which included boots on the ground and geophysical surveys prior to drilling. The final drill hole locations are being proposed now and we will announce further details when finalized in the coming weeks.”
The Golden Giant project comprises 3 properties, Golden Giant East, Golden Giant West and the Kali East block, covering 18,992 hectares and is contiguous to Azimut Exploration Inc.’s Patwon project as shown in Figure 1.
Figure 1: Location of the Golden Giant Project (red) with respect to neighbouring companies.
To view an enhanced version of Figure 1, please visit:
About QcX Gold
QcX Gold is exploring for gold and VMS style mineralization on its highly prospective and well-located properties in Québec, Canada. The Golden Giant Project is located in the James Bay region of Québec, only 2.9 km away from Azimut Exploration Inc.’s Patwon discovery on their Elmer gold project. The Fernet Project is located in the Abitibi Greenstone Belt in the Province of Québec and is contiguous with Wallbridge Mining Company Limited’s Fenelon/Martinière property. Both properties are in close proximity to major discoveries which bodes well for exploration.
For further information, please contact:
Vice President Exploration
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.
This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program, the expected positive exploration results, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “to earn”, “to have’, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company’s expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company’s annual Management’s Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82751