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BMEX Gold Provides Year End Update for 2020
Observes Visible Gold in Drill Core at King Tut and Completed Site Access to Dunlop Bay Vanco...
About this update from Route 109 Resources Inc.
[{"type":"text","content":"BMEX Gold Provides Year End Update for 2020Observes Visible Gold in Drill Core at King Tut and Completed Site Access to Dunlop BayVancouver, British Columbia--(Newsfile Corp. - January 6, 2021) - BMEX Gold Inc. (TSXV: BMEX) (FSE: 8M0) (\"BMEX\" or the \"Company\") is pleased to provide a progress update on its Phase 1 King Tut Exploration Program, as well as highlight a number of notable corporate milestones. These highlights, include but are not limited to the following: Acquired two flagship properties through the entering into of option agreements on King Tut and Dunlop Bay properties and shifted focus to Quebec, Canada;Completed 1,834 metres of drilling on King Tut property distributed in six (6) holes over a strike length of approximately 200 metres, which includes 2 holes containing visible gold intercepts;Initiated and completed site access at Dunlop Bay property; Completed name change, strengthened management, diversified Board of Directors and created strong Advisory Team;Raised $7.3M in cash and ended year in strong financial position.During the year, BMEX entered into two pivotal land transactions in Quebec bringing its focus squarely onto gold exploration in two highly prospective regions of Quebec, the Chicobi Gold Belt and the Matagami Gold Camp, both in the prolific Abitibi Greenstone Belt. The King Tut property consists of 120 mineral claims covering 5,206 hectares and the Dunlop Bay property covers 76 mineral claims over 4,226 hectares. Both option agreements contemplate 100% ownership by BMEX. King TutDrilling at King Tut commenced on November 26 and by December 30, 2020, a total of 1,834 metres of drilling was completed with 1,072 samples sent to two separate labs. Assay results are expected to begin during the first half of January 2020. Core descriptions have been completed for four of six holes with visible gold exhibited in holes TUT-20-003 and TUT-20-004. The visible gold appears to be associated with pyrite and chalcopyrite bordering quartz veins and correspond to easily recognizable quartz-carbonate vein networks developed over a few meters to over fifteen meters intervals in strongly carbonatized and variably sericitized volcanic rocks. See Picture 1, below.Picture 1 - Hole TUT-20-004To view an enhanced version of Picture 1, please visit:https://orders.newsfilecorp.com/files/5785/71415_8befcb5fa49c2be8...