Welcome to our dedicated page for Route 109 Resources news (Ticker: MRIRF), a resource for investors and traders seeking the latest updates and insights on Route 109 Resources stock.
Route 109 Resources Inc. (MRIRF) generates a steady flow of technical and corporate news as a junior Canadian mining exploration company focused on gold and base metal projects in Quebec’s Abitibi greenstone belt. Its news releases provide detailed updates on drill programs, soil geochemistry, geophysical surveys, financings, and corporate actions.
Much of the company’s recent news centers on the Dunlop Bay Project, where Route 109 reports multiple mineralized zones. Updates include results from winter drilling programs at Dunlop Bay West and Dunlop Bay North, descriptions of Cu-Au-Mo-Ag intersections, and the identification of VMS-related base metal mineralization in areas such as the Clairet Zone. The company has also announced evidence of a Au-Cu-Mo porphyry-style mineralized system associated with the Dunlop Bay intrusion, which it notes is atypical for the Matagami region.
Other news items cover exploration planning and target generation, such as reconnaissance soil geochemistry surveys using Ionic Leach and Aqua Regia methods, and the integration of LIDAR and magnetic data to define lineaments and interpreted mineralized trends. These updates outline how Route 109 refines high-priority gold and VMS drill targets on the Dunlop Bay property.
Corporate news includes share consolidations, private placement financings, and the company’s name change from BMEX Gold Inc. to Route 109 Resources Inc., along with the associated trading symbol change on the TSX Venture Exchange. Investors and observers following MRIRF can use this news feed to track exploration progress on the King Tut and Dunlop Bay projects, as well as key corporate developments and technical interpretations disclosed by the company.
Route 109 Resources (OTCQB: MRIRF) has confirmed the presence of a gold-copper-molybdenum porphyry-style mineralized system at its Dunlop Bay property through its 2025 winter drilling program. The program included two drillholes (BD-25-31 and BD-25-32) that intersected intrusive rocks with notable mineralization, including peaks of 7.05 g/t Au, 11.60 g/t Ag, and 569 ppm Cu over 0.5 meters in drillhole BD-25-31.
The drilling results revealed two distinct mineralization styles: a Mo-Cu-Au enrichment near the intrusion contact and within the Dunlop Bay intrusion, and a VMS-related base metal enrichment in areas more distant from the intrusion. The company has identified a prospective N-S trending mineralizing system extending over 2km, which remains largely untested by drilling.
Route 109 Resources (TSXV: RTE) (OTCQB: MRIRF) has initiated a 3,000 to 4,000 m drill program at its Dunlop Bay project, targeting both Volcanic Massive Sulphide (VMS) and gold mineralization. The winter exploration program includes an electromagnetic borehole survey to model additional conductive plates for new VMS discoveries.
The program will test the Dunlop Bay North historical VMS showing, where previous drilling revealed zinc-copper mineralization, including intersections of 6.55 m at 1.08% Zn and 0.18% Cu, and 4.57 m at 1.15% Zn and 0.11% Cu. Additionally, the program aims to extend the Dunlop Bay West Cu-Au-Mo-Ag showing, which historically returned 18.29 m at 1.24% Cu, 1.32 g/t Au, 1032 ppm MoS2, and 14.36 g/t Ag.
The program will also explore the area around trench NW-2, which showed significant surface gold assays that expanded the Marcelle-Edith gold trend to 2.5 km by 500 m.
Route 109 Resources announced the results of its 2024 Annual General Meeting held on October 31, 2024. Shareholders approved all management resolutions outlined in the Company's Notice of Meeting and Management Information Circular from September 26, 2024. Robert Pryde, Wanda Cutler, and Verlee Webb were re-elected as directors. Marc Bustin and Jeremi Fournier did not seek re-election as directors.
BMEX Gold Inc. (TSXV: BMEX) (FSE: 8M00) has announced a name change to Route 109 Resources Inc., effective October 4, 2024. The company's trading symbol will change from 'BMEX' to 'RTE' on the Effective Date, with new CUSIP and ISIN numbers. This change does not affect shareholders' rights, and no action is required from shareholders. Issued securities will remain valid without the need for exchange.
The company also disclosed that an insider acquired 170,000 units in a recent private placement, constituting a related party transaction. BMEX relied on exemptions from valuation and shareholder approval requirements as per Multilateral Instrument 61-101.
BMEX Gold Inc. is initiating a non-brokered private placement financing, aiming to raise up to $1,250,000 through the sale of flow-through and non-flow-through units. Each unit will include a common share and a warrant. The proceeds will be used for exploring the Dunlop Bay project in Quebec and general working capital. The Offering is subject to regulatory approvals and does not involve US securities.
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