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QcX Gold Drills 0.52 g/t Au over 5.5 m and 0.4 g/t Au over 10.2m, plans follow up work at Golden Giant, James Bay, Quebec

Nov 22, 2021

QcX Gold Corp. has announced assay results from its maiden drill program at the Golden Giant Project in James Bay, Québec. A total of 17 holes (3,011 m) were completed on the Golden Giant East ("GGEast") and Golden Giant West ("GGWest") blocks. Based on these drill results, the Company will focus on follow up exploration of the East Block. Assays of 0.523 g/t Au over 5.5 m from hole GG-21-14 and 0.398 g/t Au over 10.2 m from hole GG-21-16 were drilled in an area of the East Block where a folded gabbro unit can be observed. Drill results can be found further below in Table 1

Aaron Stone, Vice President Exploration of QcX, stated, "After data compilation and modelling of our exploration to date, we have determined that the results seen in holes GG-21-14 and GG-21-16 appear to be related to the northern limb of a folded gabbro unit located on the East Block. No work has been completed along the southern limb of this unit. We will begin compiling geological theories to determine if these holes may have missed higher-grade intercepts in the immediate area. Further, the Company is confident in the enormous potential of the Golden Giant project given our work to date has only covered roughly a third of the entire property."

Holes GG-21-14 and GG-21-16 were drilled on the eastern side of the East Block, both into and surrounding a folded gabbro unit that follows the overall trend of deformation in the area. The 0.523 g/t Au over 5.5 m from hole GG-21-14 came from an intermediate intrusive unit within the main gabbro, which contained white quartz veins with trace epidote. The 0.398 g/t Au over 10.2 m from hole GG-21-16 was found close to surface at 36-46.2 m down hole. These grades came from an amphibolite unit sitting alongside the gabbro containing moderate to strong pervasive chlorite and amphibole alteration. Two significant quartz / quartz-tourmaline veins were found in this interval, measuring 70 cm and 50 cm, containing 1% disseminated pyrite and pyrrhotite. The Company is working through geological theories to determine if the mineralisation is related to the folded gabbro unit or rather a significant structure that is running through the area.

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