Home > News > First Mexican snuggles up...

First Mexican snuggles up to Wallbridge's Fenelon

Jul 6, 2020

First Mexican Gold Corp. has acquired a 100% interest in the Fernet property in northwestern Quebec next door to the prolific Fenelon deposit of Wallbridge Mining. The Fernet Project (in red in the photo) covers an area of 4,480 hectares.

Albert Contardi, Interim Chief Executive Officer of FMG, stated, "We jumped at the opportunity to purchase the Fernet Project given its proximity to Wallbridge Mining, which has enjoyed tremendous drilling success, and given the excellent underlying geology of Fernet. This is the second project for the Company in Quebec. The first property was the Golden Giant which is well located near Azimut in the James Bay lowlands area of the northwestern region of Quebec. Having two highly prospective properties in Quebec, which are both proximal to major gold discoveries, allows us to leverage our technical team and increases our chances for multiple discoveries. Accordingly, a rebranding to QcX Gold Corp. aligns us with our new exploration focus."

The Fernet Project is approximately 15 km northwest of the Fenelon gold project (bulk sample of 33,233 tonnes at 18.49 g/t Au - Wallbridge news May 15, 2019), 4 km north of the Martiniere gold deposit (open pit-constrained Indicated gold resource of 431,000 ounces at an average grade of 2.0 g/t and an Inferred gold resource of 11,000 ounces at an average grade of 2.5 g/t; an additional underground Indicated resource of 159,000 ounces at an average gold grade of 4.5 g/t and an Inferred resource of 43,000 ounces at an average gold grade of 5.8 g/t - Balmoral Resources news March 27, 2018), and 55 km east of Detour Lake mine (~15.4 Moz mineral reserves including proven mineral reserves of 3.4 million ounces (85.2 million tonnes at an average grade of 1.24 grams per tonne) and probable mineral reserves of 12.1 million ounces (413.2 million tonnes at an average grade of 0.91 grams per tonne) as of December 31, 2018 - Detour Gold news March 7, 2019)). The Project is underlain by Archean greenstone volcanic rocks crosscut by several second and third order structures which are interpreted to be splays off of the gold bearing Sunday Lake Deformation Zone. Of particular interest for the Company are the intersections of northwest and northeast trending faults, which seem to be a significant control on gold mineralization at the neighbouring Fenelon, Martinière, and Lac du Doigt gold discoveries. This indicates the gold-bearing potential of the Fernet Project. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Fernet Project.


Tags: Quebec / Exploration / Gold / All Articles