REV Exploration Corp. announced ongoing compilation of data and reinterpretation of its 100%-owned JMW Gold Property in Northern Quebec's very active Chapais-Chibougamau mining camp, part of the prolific Abitibi Greenstone Belt. JMW, where nearly three dozen holes have been drilled historically including five by Gitennes, is along the same trend as IAMGOLD's multi-million ounce Nelligan deposit 30 km to the east.
Following an initial reassessment, JMW is revealing greater potential than previously understood. As a result, with gold also trading near record highs, the Company is aggressively revisiting this property with further analysis and planned near-term drilling while it also finalizes a dynamic Natural Hydrogen strategy for Western Canada. The Chibougamau Gold Camp now hosts over 12 million ounces across various categories, collectively owned by IAMGOLD and Northern Superior, making it one of the gold camps globally that is not controlled by a major producer.
The region also features excellent infrastructure and easy access to properties, allowing for low-cost exploration in a very favorable jurisdiction. In addition to the 21 sq. km JMW Property, REVX also owns 100% of the nearby 94 sq.
km Maxwell Property immediately adjacent to IAMGOLD's Monster Lake deposit. A reassessment of Maxwell commences shortly as REVX is encouraged by the presence of gold and significant copper mineralization in similar northeast-trending structures as Monster Lake just 6 km to the east (readers are cautioned that mineralization and mineral deposits on properties neighboring JMW and Maxwell are not necessarily indicative of mineralization or deposit potential at JMW or Maxwell). JMW Highlights: REVX is immediately proceeding with a field exploration program at JMW in addition to geophysics in preparation for a planned summer drill program targeting weakly explored areas along 6 km of favorable geology.
The program will principally cover the Caopatina Formation sediments contact which concentrated a significant part of the deformation and hydrothermal activity that may have contributed to gold deposition at JMW; Since 1980, 34 relatively shallow drill holes comprising 7,385 metres have been completed at JMW, along with surface sampling, mapping and geophysics, providing the Company with a rich assessment report base for review; Most of the historical focus at JMW was on systematically altered porphyritic felsic intrusions interlayered with mafic to felsic volcanics, forming an intrusive complex. These units are in contact with Caopatina Formation sed sediments to the south, a key area now being revisited with greater structural understanding; Five drill holes completed by Gitennes in 2022 included a discovery, within a large under-explored area dominated by Caopatina sediments outside the main historical trend, of 7 g/t Au over 0.7 m (Hole 22JMW-03) within a 2-metre quartz vein at just 75 metres vertical depth, pointing to the potential for gold enrichment in this part of the property; 22JMW-03 occurred within a 60-metre-wide fault zone marked by cataclasis, tectonic breccia, and intense alteration in volcanics - interpreted as a possible sediment-volcanic contact zone; This new area of focus may represent a more gold-rich system in a sedimentary package on the margins of a large mineralized intrusive complex that may have acted as a "heat engine". JMW Geological Setting.
Geologically, the JMW Property is along strike with the Nelligan deposit, lying along the same contact between the Obatogamau Formation (mafic to volcanic rocks) and the Caopatina Formation composed of sediments, a structural and lithological setting for gold mineralization. As of February 20, 2025, estimated Mineral Resources at Nelligan comprised 102.8 million tonnes of Indicated resources grading 0.95 g/t Au for 3.1 million ounces of contained gold, and 166.4 million tonnes of Inferred resources grading 0.4 million tonnes of In preferred resources grading 0.4 million ounces of Inferred resources grading 0".
