QMX Gold Corporation (TSX:Venture:QMX) hiked in price Monday on releasing the latest results on its Bonnefond deposit. The Bonnefond deposit is located in northeastern Ontario, on the Val d’Or East Zone of QMX’s extensive land package in Val d’Or, Quebec.
This batch contains the results of seven drill holes and one drill hole extension for a total of 3,306 metres.
Highlights include one hole retuning 41.82 grams per ton Gold (g/t Au) over 3.4 metres, Another returned 171.30 g/t Au over one metre; still another returned 1.08 g/t Au over 72.8m in the tonalite.
CEO Brad Humphrey enthused, "The results to date bode well for our updated resource estimate, where we expect to upgrade the tonalite material from inferred to indicated, as well as a significant increase in the shear material.
"We anticipate completing the Bonnefond resource update in the coming months."
Shares reached noon hour EST Monday up a penny, or 9.5%, to 11.5 cents, on thundering volume of 1.4 million.
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