N/R - FYI
QCX Gold samples up to 1.71 g/t Au at Golden Giant
2020-09-14 08:06 ET - News Release
Mr. Albert Contardi reports
QCX GOLD DISCOVERS KILOMETRIC ANOMALOUS GOLD TREND DURING PHASE 1 WORK PROGRAM ON GOLDEN GIANT EAST, QUEBEC
QCX Gold Corp. has provided the results from its phase 1 exploration program on its 100-per-cent-owned Golden Giant project. The overall Golden Giant project comprises 3 properties, Golden Giant East ("GGEast"), Golden Giant West ("GGWest") and the recently acquired Kali East properties, covering 18,992 hectares and is contiguous to Azimut Exploration Inc.'s Patwon project as shown in Figure 1. The Phase 1 exploration program on GGEast resulted in the discovery of a kilometric anomalous gold trend, spanning over 5 km, with results of up to 1.71 g/t Au from grab samples as shown in Figure 2 and Table 1. In addition, Phase 1, prospecting resulted in the discovery of several other promising areas of interest on both the East and West blocks.Figure 1: Location of the Golden Giant project (red) with respect to neighbouring companiesTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/1791/63703_dcfc4ae704801a58_001full.jpg
In Phase 1, 425 samples out of the total of 550 grab and channel samples collected were taken from GGEast. Of these, 35, or 8.2% of the total samples analyzed, returned anomalous values greater than 20 ppb Au as shown in Figure 2 and Table 1. 12 samples, or 2.8% of the total samples analyzed, returned greater than 0.1 g/t Au, with the highest grab sample returning 1.71 g/t Au. Of particular importance is the identification of a northeast-trending zone of anomalous gold samples, spanning approximately 5 km and roughly following the southern portion of a cherty banded iron formation unit. A second gold trend occurs in the southern portion of the GGEast property, which is again coincident with the cherty iron formation unit. Gold in iron formations make excellent exploration targets due to their scaleability, and correlation with high magnetic geophysical anomalies. In this case the gold mineralization has a correlation with silver and copper, and is weakly correlated with zinc, antimony and/or arsenic.
Gold mineralization occurs in a variety of settings, including:Anomalous gold values of 425 ppb, 215 ppb, 160 ppb, 149 ppb, and 143 ppb were obtained from a series of samples of quartz-chlorite veins in the East Block. The veins vary in width from a few centimetres to 15 centimetres, contain trace amount to 1% pyrite, and are oriented approximately at 215o/85o N (Figure 3 - A).1.7 ppm Au: value obtained from one sample of quartz-tourmaline vein with 1% of fine disseminated pyrite and traces of chalcopyrite crosscutting a tuff sequence and proximal to contact with pillowed andesite. Similar veins were noted in that area and will be tested during Phase-II.263 ppb and 217 ppb Au: values from samples of sheared and chlorite-garnet altered tuff with traces of chalcopyrite and 2% pyrite along the margins of a 40 cm wide quartz vein (Figure 3 - B).341 ppb Au: sample from a sub-horizontal centimetric-thick quartz vein in felsic tuff with 3% pyrite (Figure 3 - C).227 ppb, 107 ppb, and 101 ppb Au: samples of mineralized bands (5-30 cm wide) of chert with locally up to 20% pyrite (Figure 3 - D).
SampleIDUTM-E UTM-N ZoneAu ppbAg ppmCu ppmZn ppmAs ppmSb ppm Y376271 3185555794754 18 1710 19.5 5930 83 3 3 Y375129 3209855795492 18 425 0.1 45 18 1 1 A00919773164605793061 18 341 0.7 147 16 1 2 A00918153166065793998 18 263 10.1 791 252 2 1 A00918803159375790656 18 227 1.6 179 53 12 6 A00918173166025793995 18 217 0.9 59 34 6 5 A00908373211645795038 18 215 0.1 61 66 1 1 A00908423213795794281 18 160 0.1 3 40 2 1 Y375227 3209465794709 18 149 1.1 411 19 1 1 Y375222 3204325794893 18 143 0.2 606 13 1 1 A00918843158725790670 18 107 0.6 54 6 3 3 A00918813159275790659 18 101 1.3 89 65 7 5 Y376309 3137565791872 18 82 8 58 613 20 5 A00918093189545789885 18 79 0.3 6 58 3 1 Y376310 3137325791868 18 66 3 11 5 53 4 Y375198 3138895792199 18 64 0.7 15 7 61 11 A00918073189255789896 18 52 0.1 11 54 3 1 A00919053143915792364 18 52 0.9 154 77 8 1 Y375186 3137155791868 18 48 0.7 18 16 47 3 A00920003152845792926 18 47 1.2 121 44 5 2 Y376264 3188455795604 18 42 0.3 6 3 1260 9 Y375130 3208285795440 18 40 0.1 154 4 1 1 A00918913162515790295 18 36 0.7 105 17 1 2 Y375185 3137155791868 18 36 0.8 21 12 37 2 Y375188 3137155791868 18 36 0.9 36 37 22 3 A00919163146125792030 18 35 0.9 1710 75 1 3 A00918253202405796085 18 34 0.4 233 119 1 5 A00918713156905790642 18 34 2.1 317 10 3 5 Y375183 3151955792866 18 31 2.1 240 32 4 8 A00908203152245792974 18 30 0.5 92 30 8 3 Y375184 3137155791868 18 30 1 37 20 48 3 Y376252 3187825789868 18 26 0.1 21 55 3 1 Y376263 3188435795536 18 23 0.4 43 27 10 7 A00918193165675793930 18 22 0.3 19 54 9 4 Y376308 3137145791873 18 21 0.5 13 15 24 3
Table 1: Results over 20 ppb Au from Phase-I on Golden Giant East property.Figure 2: Results from the Phase 1 prospecting program on Golden Giant East, underlain by geology. Labelled values are > 20 ppb Au.To view an enhanced version of Figure 2, please visit:https://orders.newsfilecorp.com/files/1791/63703_dcfc4ae704801a58_002full.jpgFigure 3: Field photos from anomalous Au samples from Phase 1. A - 425 ppb Au returned from a quartz-chlorite vein within a horizon of sheared sericite schist. B - 263 ppb Au and 217 ppb Au from sheared and chlorite-garnet altered tuff with traces of chalcopyrite and 2% pyrite-pyrrhotite along the margins of a 40 cm wide quartz vein. C - 341 ppb Au from a sub-horizontal centimetric quartz vein in felsic tuff with 3% pyrite. D - 227 ppb Au, 107 ppb Au, and 101 ppb Au from narrow (5-30 cm) bands of mineralized chert with locally up to 20% pyrite.To view an enhanced version of Figure 3, please visit:https://orders.newsfilecorp.com/files/1791/63703_dcfc4ae704801a58_003full.jpg
Albert Contardi, Interim Chief Executive Officer of QcX, stated, "These results confirm the gold potential of the GGEast property. We have generated a new gold showing, as well as identified a significant multi-kilometre trend of anomalous gold. We have already returned to the GGEast property to complete Phase 2 follow-up trenching and sampling for which we are very much looking forward to assay results. In addition, we await verification sample assay results for work completed on the GGWest property and will update the market as they are received and compiled."