Q-GOLD ANNOUNCES RESUMPTION OF MCKENZIE GRAY GOLD/SILVER DRILLING PROGRAM
21 10월 2010 - 10:00PM
PR Newswire (Canada)
FORT FRANCES, ON, Oct. 21 /CNW/ -- SEC 12g 3-2(b) Exemption No.
82-4931 FORT FRANCES, ON, Oct. 21 /CNW/ - Q-Gold Resources Ltd.
(TSX VENTURE: QGR) (http://www.qgoldresources.com) announced today
that the Company has resumed exploratory diamond drilling
operations on its 87.5% owned McKenzie Gray gold/silver discovery
near Mine Centre, Ontario announced late last year (see Press
Release dated October 28, 2009). In Phase II at McKenzie Gray,
Q-Gold will drill 12 NQ "fan" holes from 5 closely spaced (15
metres) drill locations in an attempt to intersect and extend to a
depth of 150 metres, the well-mineralized gold/silver zone,
measuring up to 8 metres in true width, encountered last year. This
zone is believed to plunge steeply to the northwest. Based on the
results of an induced polarization (IP) ground geophysical survey
completed this spring, several IP anomalies were identified
on-strike to the northwest of the McKenzie Grey Vein which remain
to be drill tested. The Spectral IP surveys were conducted by JVX
Geophysics Ltd on several prospective gold/silver areas held by
Q-Gold near Mine Centre, including the McKenzie Gray vein complex.
(see Press Release dated February 19, 2010). An additional 5 drill
holes in the McKenzie Gray vein are currently slated to test the
wide mineralized zone at 20-30 metre depths to establish the
continuation of the vein system near surface. The drilling will
also assess whether surface mining is warranted (the exposed vein
was mined on surface immediately southeast of the proposed drilling
in a pilot test in 1992 by the previous owners). As reported
earlier, all 12 holes in the Phase I 2009 drilling program on the
McKenzie Gray Vein encountered zones of significant sulfide
mineralization at depths ranging from 30 to 90 metres (see table in
the October 28, 2009 press release). Eleven of the holes
encountered gold mineralization. Several of the more notable
intersections of the main mineralized zone included DDH Q-MG-09-04
which intersected mineralization with a composite weighted average
of 11.39 g/T Au, 43.69 g/T Ag, and 3.13% Zn over a core width of
5.5 metres (30 metre depth), and DDH Q-MG-09-05 which intersected
mineralization with a composite weighted average of 16.68 g/T Au,
20.8 g/T Ag, and 2.06% Zn over a core width of 9.32 metres (50
metre depth). Foley Gold Mine --------------- Q-Gold also announced
partial results from its current 16 hole, 2,223.5 m "delineation"
diamond drill program into the extensive gold-bearing quartz vein
complex at the historic Foley Gold Mine near Mine Centre, which has
now been completed. Included in the program were six additional
holes drilled into the Company's "Baseline" Gold Vein, 2 km
northeast of the Foley Mine. All samples from the program have now
been sent off for analysis. Highlights from assays received to date
from the Foley Mine DDH Program are as follows:
-------------------------------------------------------------------------
DDH Sample From To Apparent Au g/T Ag g/T (m) (m) Width (m)
-------------------------------------------------------------------------
Q-WVN-10-1 55353 13.0 13.2 0.2 less than 0.03 6.4
-------------------------------------------------------------------------
Q-WVN-10-1 55356 79.14 79.61 0.47 5.88 1.4
-------------------------------------------------------------------------
Q-WVN-10-1 55360 85.56 85.88 0.32 4.26 14.7
-------------------------------------------------------------------------
Q-WVN-10-2 55379 105.30 107.0 1.7 6.48 0.7
-------------------------------------------------------------------------
Q-WVN-10-2 55381 109.1 110.0 0.9 0.05 7.8
-------------------------------------------------------------------------
Q-JV-10-2 55433 37.43 38.59 1.16 5.06 2.2
-------------------------------------------------------------------------
The technical content of this release was reviewed and approved by
Delio Tortosa P.Eng., a Qualified Person as defined by National
Instrument 43-101. About Q-Gold Resources Ltd.
--------------------------- Q-Gold is a Canadian-based mineral
exploration company currently exploring for precious and base
metals on its 26,000 acres of Ontario holdings in the historic Gold
Camp at Mine Centre, including 5 historic gold mines. In addition,
the Corporation holds options on historic gold and silver mines in
the historic Arizona gold camp of Crown King, and copper prospects
in eastern and western Arizona. For all future Q-Gold investor
relations needs, investors are asked to visit the Q-Gold IR Hub at
http://www.agoracom.com/IR/Q-Gold where they can post questions and
receive answers within the same day, or simply review questions and
answers posted by other investors. Alternatively, investors are
able to email all questions and correspondence to QAU@agoracom.com
where they can also request addition to the investor email list to
receive all future press releases and updates in real time. The
statements made in this Press Release may contain forward-looking
statements that may involve a number of risks and uncertainties.
Actual events or results could differ materially from the Company's
expectations and projections. Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. Corporate Inquiries:
Q-Gold Resources Ltd., J. Bruce Carruthers II, President,
1-888-779-0166, http://www.qgoldresources.com; Investor Relations:
AGORACOM Investor Relations, http://www.agoracom.com/IR/Q-Gold,
QAU@Agoracom.com
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