Montréal, Québec–(Newsfile Corp. – September 12, 2022) – QcX Gold Corp. (TSXV: QCX) (OTCQB: QCXGF) (FSE: 21MA) (“QcX” or the “Company“) is pleased to announce that it will conduct a surface exploration program on its Golden Giant Project, located in the James Bay region of Québec. The objectives of the program are to follow up on promising results obtained from the inaugural 2021 drill program, as well as conduct initial surface prospecting on the Kali East block, which to date has not been explored by the Company.
Program Highlights and Goals:
– Focused exploration along the southern limb of a folded gabbroic unit, found on the eastern side of the Golden Giant East Block. Drill holes GG-21-14 and GG-21-16, which were drilled on the northern limb of this unit, produced 0.52g/t Au over 5.5m and 0.4g/t Au over 10.2m respectively. The hinge zone and southern limb will be explored in further detail to look for extensions to the observed mineralization (see Figure 2).
– Boots on the ground on the Kali East Block (see Figure 3). This will be the first time the Company has sent geologists to this portion of the project for surface prospecting, which was previously obtained from Harfang Exploration (see press release dated September 9, 2020).
– Follow up surface work on the Golden Giant West Block, where drilling obtained anomalous results of up to 1.44g/t Au over 0.8m in GG-21-02 and 0.9% Zn over 0.5m in GG-21-03. Potential for both gold and VMS mineralization exists in this area.
The Company also recently obtained high-resolution satellite imagery of the three Golden Giant blocks from Pacific Geomatics Limited. Images were taken by Maxar satellites with resolutions of up to 15cm high definition. With this high-resolution dataset, outcrops are easily observable, which can then be mapped and digitized. This data will greatly aid geologists while performing the surface prospecting program.
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.
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Figure 2: Map showing completed drilling across the Golden Giant East block and highlighting the folded gabbroic unit (brown) to the east that contains anomalous gold intercepts. It can be seen that no sampling has been conducted in the hinge zone of this fold and little work done along the southern limb.
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Figure 3: The Kali East Block of the Golden Giant Project, where work is yet to be completed. Proximal gold, zinc and lithium showings are displayed.
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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.
On behalf of the Board of Directors:
Aaron Stone, P.Geo.
Vice President Exploration
[email protected]
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.
Forward-looking statements:
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.
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