Welcome!

News Feed Item

QMX Gold Produces Over 22,000 Ounces of Gold in 2013 from Lac Herbin Mine

Company expects production of 16,500 to 19,000 in 2014

TORONTO, ONTARIO -- (Marketwired) -- 02/25/14 -- QMX GOLD CORPORATION (TSX VENTURE: QMX) ("QMX Gold" or the "Company") produced approximately 7,260 ounces of gold from its Lac Herbin Mine in Val D'Or, Quebec in the fourth quarter of 2013. This brings total production for 2013 to over 22,200 ounces of gold, in line with Company guidance. Full financial details will be released in March 2014.

----------------------------------------------------------------------------
                        Production Summary for 2013
----------------------------------------------------------------------------
Quarter                  Q1          Q2          Q3           Q4 Total 2013
----------------------------------------------------------------------------
Tons Milled (mt)     33,866      39,667      40,403       59,791    173,727
----------------------------------------------------------------------------
Grade (g/mt)           4.09        4.42        4.62         4.03       4.27
----------------------------------------------------------------------------
Average Recovery
 Rate                  93.0%       93.5%       92.6%        93.7       93.2%
----------------------------------------------------------------------------
Recovered Gold
 (oz)                 4,141       5,275       5,549        7,260     22,225
----------------------------------------------------------------------------

2013 Production Results

The Aurbel Mill continued to generate positive and consistent results in 2013 with an overall annual average recovery rate of 93.2% and was achieved with a significant increase in the mill throughput quarter over quarter. Over the course of 2013, the mill processed a total of 173,727 tonnes of ore at an average grade of 4.27 g/t to produce 22,225 ounces of gold. The production figures do not include an additional 10,000 tonnes of ore that were custom milled under the milling agreement with Armistice Resources (now renamed Kerr Mines Inc.) in the third quarter.

Fourth Quarter Production Results

In the fourth quarter of 2013, mill throughput was 77% higher than in the first quarter of the same year, processing 59,791 tonnes of ore at an average grade of 4.03 g/t Au with recoveries of 93.7% to produce 7,260 ounces of gold. The mill throughput increase was a result of producing from larger zones, which were developed by the operating team over the last year, at slightly lower than average grades.

Operational Outlook

QMX Gold continues to mine out the Lac Herbin mine above the 42 Level as a suspension of development and exploration activities remains in place. The Company plans to to process ore at the Aurbel Mill for Kerr Mines Inc. under the custom milling agreement signed in June 2013. QMX Gold intends to process at least an additional 20,000 tonnes of ore under the agreement. The Company continues to search for additional feed to maintain operation at its Aurbel mill.

Also, the Company is continuing to evaluate several projects within a 150 kilometer radius from Aurbel mill which could be put in production in the short to medium term.

The sale of QMX Gold's Snow Lake property to Northern Sun Mining Corp. remains pending and is expected to close on or before March 31, 2014.

Brett New, President and CEO of QMX Gold, commented "I am pleased to report that our year-end results are in line with 2013 budgeted figures as we produced between 20,500 and 23,500 ounces of gold at the Aurbel Mill. The team at Lac Herbin and the Aurbel Mill have done an excellent job at keeping operations running smoothly and efficiently, despite a number of cost-reduction measures that were necessary over the course of 2013. This can be seen as our mill recovery rates have remained very consistent throughout 2013. The Company plans to continue to mine out the mineralized lenses above the 42 Level in 2014 and expects production to be 16,500 to 19,000 ounces of gold in 2014."

Qualified Person

Technical programs and information included in this release have been reviewed and approved by Patrick Sevigny, eng., Vice President of Quebec Operations and a Qualified Person as defined under NI 43-101.

Cautionary Note Regarding Forward-Looking Information and Mineral Resources:

This press release contains or may be deemed to contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements (express or implied) relating to financial results, production results and/or the impact of such production results with respect to the mine at Lac Herbin, the timing, cost and/or amount of future exploration and development of the property, if any, the closing of the Snow Lake sale transaction, the processing of more custom mill feed, the timing, cost and/or amount of future production, the future price of gold or other minerals, the mineral resource estimates, the successful implementation of development plans at any of the Company's properties and/or the future financial or operating performance of QMX Gold, its properties and/or its projects. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, its properties and/or its projects to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the annual information form of the Company, which is available under the profile of the Company on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. It should also be noted that mineral resources that are not mineral reserves do not have demonstrated economic viability.

Contacts:
QMX Gold Corporation
Brett New
President and CEO
(416) 861-5904

QMX Gold Corporation
Louis Baribeau
Public Relations
(514) 667-2304

QMX Gold Corporation
Rob Hopkins
Investor Relations
(416) 861-5899

QMX Gold Corporation
Toll free: +1 877-717-3027
[email protected]
www.qmxgold.ca

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, discussed how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He also discussed how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.
"DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great team at @DevOpsSUMMIT and CloudEXPO tell the world how they can leverage this emerging disruptive trend."
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
Founded in 2000, Chetu Inc. is a global provider of customized software development solutions and IT staff augmentation services for software technology providers. By providing clients with unparalleled niche technology expertise and industry experience, Chetu has become the premiere long-term, back-end software development partner for start-ups, SMBs, and Fortune 500 companies. Chetu is headquartered in Plantation, Florida, with thirteen offices throughout the U.S. and abroad.
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.