BMEX Gold Inc (CVE:BMEX) has posted promising results from an inuagural drill program at its King Tut gold project in Quebec, which it said show the potential for an extensive gold target, which is open in all directions.
The company has completed 19 holes for 4,500 metres (m) at the asset in the Abitibi belt and results for eight have been received. All of these holes hit a 50m wide gold-bearing structure with intervals ranging from 0.3 grams per ton (g/t) gold down to a maximum of 3.4 g/t to a vertical depth of 230m. The widths ranged from 0.5m to 9m.
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"The concentration of gold intercepts obtained thus far on the initial target is a significant signal of a large gold system and only a small fraction of this gold target has been drilled," noted Martin Demers, the vice-president of exploration at BMEX Gold in a statement.
"We are awaiting the results from the balance of the holes for interpretation and modelling for a follow up exploration program that will cover approximately 1km radius around the drill area. In the meantime, we are also preparing to launch our inaugural drill program on our second property, the Dunlop Bay project in the Matagami camp, which is now ready for drilling," he added.
The holes reported were aimed at testing the Authier Nord structure, which is an historical gold showing at King Tut.
The assays provide a "preliminary indication of a newly identified extensive gold target that measures approximately 400m along strike and close to 600m across sections and remains open in all directions." BMEX noted.
The company's Dunlop Bay project consists of 76 contiguous claims, covering 4,226 hectares, while the group's King Tut property has 120 contiguous claims that cover 5,206 hectares. Both lie in the prolific Abitibi greenstone belt.
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