FLAGSTAFF, AZ, Feb. 20, 2013 /CNW/ - Q-Gold Resources Ltd. (the
"Company") (TSX VENTURE: QGR) (http://www.qgoldresources.com)
announced today that, as requested, it has resubmitted its Plan of
Operations to the Forest Service for a permit to drill the
Company's "A" anomaly on its "Green Mohave 2" mining claim near
Crown King, Arizona. The
Company hopes to have all necessary approvals to begin drilling the
"A" Anomaly sometime in March.
Based upon a helicopter time domain
electromagnetics (VTEM) and magnetics survey flown over the area by
Geotech Ltd. (Aurora, Ontario) in
late 2011 and a follow-up ground hybrid magnetotellurics ("MT")
geophysical survey over the "A" Anomaly last fall, the Company has
spotted six exploratory diamond core holes from 2 drill pads.
These drill holes will attempt to penetrate the highly conductive
zone in the 700 metre long anomaly, which, as indicated in the MT
survey, appears to extend from near the surface to a depth of at
least 400 metres. Moderate conductivity then extends further
down to about the 850 metre level.
The "Green Mohave 2" mining claim contains a 200
metre high ridge, which is parallel to two adjoining ridges, each
of which contains an historic silver mine where high-grade silver
ore was produced in the 1890-1900 era. These are the Peck and
Black Warrior silver mines, both under option to the Company.
A "chip sampling" program by the Company across mineralized vein
faces in adits and stopes of the Black Warrior Mine (see press
release dated January 12, 2012),
yielded gold assays of 0.11 to 1.1 oz./ ton. High-grade
silver assays ranging from 49.3 to 237.4 oz./ton, as well as
significant amounts of zinc, lead and antimony were also
encountered. Low silver prices at the turn of the century,
combined with two World Wars ended all mine production in the
area.
As, according to the geophysics, the "A" Anomaly
does not quite reach the surface, it went unnoticed to prospectors
in the area until Q-Gold's recent geophysical activities. The
MT survey revealed very low resistivities (less than 25 to 30
ohm-metres), indicating conversely high conductivities in the first
400 metres of the indicated tabular body. Combined with the
high conductivity characteristic of silver, and the structural
similarity to the two adjoining historic silver mines, this
suggests that a third silver trend might possibly be uncovered by
the drill program.
Twelve other airborne anomalies, the majority of
which have been acquired by the Company, await further
investigation, principally by ground geophysics and geochemical
surveys in the Company's current exploration program at
Crown King.
The technical content of this release was
reviewed and approved by James C.
Hasbrouck, PGp, 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 Ontario holdings in the historic Gold Camp at
Mine Centre, including 5 historic
gold mines. In addition, the Corporation holds options on a number
of historic gold and silver mines in the historic Arizona gold camp of Crown King.
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.
SOURCE Q-Gold Resources Ltd.