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Bullboard - Stock Discussion Forum QMX Gold Corporation V.QMX

QMX Gold Corp is a junior exploration company. It is engaged in mineral exploration and evaluation properties in the province of Quebec. The Company is focusing on the exploration and evaluation of its gold and base metal projects within this region. It is also focused on the Val d'Or mining camp in the Abitibi District of Quebec. It holds the Aurbel property and holds a 100% interest in the... see more

TSXV:QMX - Post Discussion

QMX Gold Corporation > Interesting Tidbit-Out Today
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Post by loonietunes on May 05, 2020 9:04am

Interesting Tidbit-Out Today

Probe staking more pr

 

Probe Metals stakes another 179 claims on Val d'Or East

 

2020-05-05 07:38 ET - News Release

 

Dr. David Palmer reports

PROBE EXPANDS LAND PACKAGE AT VAL-D'OR EAST, QUEBEC

Probe Metals Inc. has staked an additional 179 claims contiguous to the Pascalis and Megiscane-Tavernier properties on its Val d'Or East project in Quebec. The new claims add 101 square kilometres to the current project land package, increasing it from 334 square kilometres to 435 square kilometres and extend the Megiscane-Tavernier property to the southeast (146 claims) and the Pascalis property to the northwest (33 claims). The new claims were staked along gold structures identified during regional exploration work and add highly prospective ground to the project. The Val-d'Or East land package represents one of the largest consolidated land packages in the Val-d'Or mining camp.

David Palmer, President and CEO of Probe states: "Owing to the success of our exploration programs, and our increasing understanding of the Val-d'Or East gold systems, we have expanded our property boundaries to include a number of highly prospective regional targets with excellent potential for new discoveries. We are fortunate to have a very strong treasury, with over $30 million in cash, which gives us the ability to continue advancing our project as we see these global gold markets strengthen. We hope to resume activities in the near future and look forward to maintaining our position as one of Canada's leading gold exploration companies in 2020."

The Pascalis and Monique properties, which encompasses most of the Company's gold resources now consists of 425 mining titles covering an area of 175 square kilometres. The new claims cover the western extension of a deformation corridor located between the Bourlamaque intrusive and the Garden Island Fault. Very little historic exploration work has been completed on these new claims.

The Megiscane-Tavernier property now consists of a large contiguous claim block comprising a total of 322 claims covering an area of 184 square kilometres, which encompasses four major deformation corridors. All four deformation corridors are highly prospective, with multiple gold showings along each, however, very little exploration work has been conducted in this area in the past. Recently, Probe performed a large VTEM survey and outlined numerous, promising targets which have never been drill tested. Recent field work, including new geophysical and geochemical surveys, indicate that gold mineralization is associated with strong Induced Polarization anomalies and elevated gold values in soil providing an effective tool for new target generation. Additional surveys and drilling are planned for 2020.

Figure 1 {&#A A ; –} Val-d'Or East Project

https://www.probemetals.com/site/assets/files/1470/pr-2020-apr-vde-project-fig1.pdfoperty at the edge of ours.
Comment by Zola2 on May 06, 2020 3:48pm
They have 30 M cash, plus credit line. Maybe they make a run at QMX rather than ELD.
Comment by freemax1 on May 06, 2020 6:13pm
Zola2 We dont have nothing to expect from Probe it is a good little Co. like us & they have a good work plan like us they are sellers only ! Knowing how they are playing ! they are expecting to be bought at Val-d'or East for a big chunk & they will start next at Detour an other monster they have ! a nice land position close to WM-BAR Mark my word
Comment by loonietunes on May 07, 2020 9:09pm
I would be watching the guys at O3 that's the game plan big picture we've seen before,  well connected deep pockets.   They announced the Ausenco for their PEA this morning.  Very low share count shares instead of cash?
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