BMEX Gold Inc (TSX-V:BMEX) has reported encouraging visual results from its first two holes sunk at the so-called Dunlop Bay Ouest anomaly at the Dunlop Bay project in Quebec, which included a new discovery in one hole of 3.85 metres (m) of massive sulphides.
As reported on October 17 this year, the firm kicked off a maiden 3,000-metre (m) drill program at the 4,226 hectare (Ha) property in the Abitibi greenstone belt.
Both holes hit massive sulphides and assays from the lab are pending, noted BMEX, adding that the new discovery sits 220 metres (m) north of a historical hole, which returned 6.84 grams per ton (g/t) gold over 1.50m.
"I am very pleased that the geological mapping, prospecting and EM surveys conducted over Dunlop Bay have been corroborated with the visuals in the core," said Robert Pryde, president of BMEX Gold, in a statement.
READ: BMEX Gold reveals start of 3,000m drill program at Dunlop Bay project, Quebec
"This gives us confidence in our targeting tools and bodes well for future exploration by confirming the potential of the 900 m long EM anomaly.
"Second, it is important to point out that the geology of this anomaly is very favourable as the massive sulphides are sitting on a felsic package which is the typical geological setting of many VMS mines in Matagami area and elsewhere."
Pryde said the company was "already planning" to conduct surveys in the 2022 holes to "further investigate with precision the extent of the newly discovered bodies".
He added: "While the focus of the first half of the drill program has been on this exciting VMS target, the balance of the program will test the two kilometric gold systems just to the south.
"Dunlop Bay offers both gold and VMS potential and I am hopeful that the second half of the program will be as fruitful as the first."
Explorer BMEX has 100% interest in two projects in the prolific Abitibi greenstone belt in Quebec, Canada.
As well as Dunlop Bay, it holds the King Tut project, which consists of 120 contiguous claims over 5,206 hectares and lies 65km east of Amex Exploration's Perron property.
Contact the author at giles@proactiveinvestors.com