Montréal, Québec--(Newsfile Corp. - April 11, 2023) - QcX Gold Corp. (TSXV: QCX) (OTCQB: QCXGF) (FSE: 21MA) ("QcX" or the "Company") is pleased to outline it's 2023 field season exploration plans for the Golden Giant Project ("Golden Giant" or the "Project"), with particular focus on the Kali East Block, located only 6km from Allkem's James Bay Lithium project, being the largest known lithium deposit in Canada moving towards development. The location surrounding Golden Giant in the James Bay region of Québec is seeing a remarkable uptick of lithium exploration and discoveries (see Figure 1). The Kali East Block (see Figures 1 and 2) is located directly adjacent to the Billy Diamond Highway, making for easy access and low-cost exploration.
As a reminder, lithium potential was identified on the property after the discovery of pegmatitic boulders scattered across the Kali claims during the recently completed field program. (see press release dated January 23, 2023). This is geologically significant for the block's lithium potential, as it is located in close proximity to greenstone belt - granitic pluton contacts, which are known to be highly prospective zones for Li2O-bearing pegmatite dikes. There exists an excellent potential for the block to hold pegmatite dikes directly under the thin layer of overburden that covers the majority of the property. Of particular significance, the high-grade James Bay Lithium deposit has a northwest trend, which is vectoring directly towards the Kali East Block (see Figure 2).
Saliently, Brunswick Exploration has commenced a 3,000m drill program to test the southeastern extension of Allkem's orebody (see Figure 2). The Company is excited to test the potential of an extension to the northwest.
The Company plans to complete an aggressive, lithium focused exploration program across the Golden Giant project during the 2023 field season. Work will include:
- Lithium focused geophysical work across the Kali East Block
- A comprehensive till sampling program
- Full suite geochemical grab sampling across the property
- Detailed structural modelling utilising regional data to determine potential pegmatite dike emplacements across the property
The Company will engage a full team of geologists and field technicians to complete the work during the snow-free months in the James Bay region.
The Golden Giant project comprises three packages of claims, Golden Giant East, Golden Giant West and the Kali East block, covering 18,992 hectares and is contiguous to Azimut Exploration Inc.'s Patwon project.
Figure 1: Regional map of the James Bay area showing the proximity of the Golden Giant property to important lithium projects in the region.
Figure 2: Image displaying the proximity of QcX Gold's Kali East Block to Allkem's high-grade lithium orebody on the James Bay Lithium project. Of particular significance is the potential for the northwest trending dike swarm to continue onto the Kali East Block.
Qualified Person
Aaron Stone, P.Geo. (OGQ 2170), Vice President Exploration of QcX Gold and Qualified Person ("QP") as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the geological information reported in this news release.
About QcX Gold
QcX Gold is exploring for gold and VMS style mineralization on its highly prospective and well-located properties in Québec, Canada. The Golden Giant Project is located in the James Bay region, only 2.9 km from Azimut Exploration Inc.'s Patwon discovery on their Elmer gold project. The Fernet Project is located in the Abitibi Greenstone Belt and is contiguous with Wallbridge Mining Company Limited's Fenelon/Martinière property. Both properties are in close proximity to major discoveries which bodes well for exploration.
On behalf of the Board of Directors:
Aaron Stone, P.Geo.
Vice President Exploration
aaron.stone@qcxgold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements:
This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program, the expected positive exploration results, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
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