BMEX Gold Inc (TSX-V:BMEX) said it was awaiting assays results having completed a 3,000 meter (m) phase 2 drill program at its King Tut project in the Abitibi, Quebec.
As reported in November this year, the work kicked off after a drone magnetic survey followed up on an inaugural drill program carried out in the first half of 2021, which had shown anomalous gold values in nearly every hole.
The latest program, completed ahead of schedule and under budget, comprised 17 holes using two rigs with 3,089m of diamond drill core being recovered.
The drilling explored 2 kilometers (km) of strike length between King Tut and Audet Quest and 2 km of strike at the Main King Tut deformation trend, BMEX said.
READ: BMEX Gold says it will test shear zone at King Tut as it starts second phase drill program
Also in the statement, the explorer said it had granted options to acquire a total of 550,000 company shares to certain directors and officers as part of its stock optionplan, at the exercise price of C$0.15 for five years from December 16, 2021.
It has also granted 1.3 million restricted stock units (RSUs) of thecompay to certain directors and consultants as part of its RSU Plan, which RSUs will expire on December 16, 2023.
Junior BMEX has 100% interest in two projects in the prolific Abitibi greenstone belt. The King Tut project consists of 120 contiguous claims over 5,206 hectares and lies 65 km east of Amex Exploration's Perron property.
Dunlop Bay consists of 76 mineral claims that cover 4,226 hectares.
Contact the author at giles@proactiveinvestors.com