BMEX Gold Inc. [BMEX-TSXV; 8M0-FSE] holds options to earn 100% interests in two flagship properties – the 5,206-hectare King Tut and the 4,226-hectare Dunlop Bay – located in two highly prospective regions, the Chicobi gold belt and the Matagami gold camp, both in the prolific Abitibi greenstone belt of northwestern Quebec. This is an established gold mining district having produced over 100 mines, and 170 million ounces of gold since 1901.
The King Tut property is 65 km east of Amex Exploration’s Perron property where a high-grade gold discovery has been made. IAMGOLD's property is 5 km west of King Tut and to the east is Vior/Ethos with its Ligneris Project showing high-grade gold. The King Tut prospect is located in the emerging Chicobi Gold Belt which is within the larger Abitibi Gold Belt.
The current King Tut drill program will continue through the first quarter of 2021 with about 2,000 metres still to be completed in 10 to 15 holes. As of early January 2021, six holes have been completed over a strike length of approximately 200 metres, which includes two holes containing visible gold intercepts. Drilling is focusing on the Authier East target and its extensions covering a strike length of about 500 metres. The objective is to cross-cut the entire width of this high potential structure. Interpretation to date of the first holes have demonstrated that the potential width of Authier East exceeds 250 metres.
The Dunlop Bay property is located immediately north of the Matagami Gold and Base Metals District, 15 km north-east from Glencore's Matagami Lake Mine Plant, processing zinc, copper, silver and gold material from the Bracemac-McLeod Mine. Over 60 gold-bearing veins and veinlets have been located (by Minière du Nord) in the central part of the property since 1956, Bmex Gold has completed 1,834 metres of drilling on King Tut property in six holes over a strike length of approximately 200 metres, which includes two holes containing visible gold intercepts. Assays are expected shortly.
At the Dunlop Bay property, the company has completed site access. Bmex Gold has also been compiling and reviewing historical work that included some 30,000 metres of drilling. The objective was to establish an exploration model and identify high potential targets.
Bmex Gold is planning a first drilling program on the Dunlop Bay property during the second quarter of 2021 with approximately 4,000 metres of drilling. The main objective is to validate the continuity of the historical vein system, and to test the intrusive contact which was barely touched during historical phases of drilling.
In addition to its name change, BMEX Gold has a strong management and advisory team as well as a diversified Board of Directors. The company’s management team has considerable extensive experience in capital markets, mineral exploration and mine development.
BMEX Gold recently raised $7.3 million and ended 2020 in a strong financial position with $4.2 million in its treasury. BMEX Gold has 42,967,000 shares outstanding.