[posting]40345629[/posting]
....und mit heutiger news wird noch ´inter.´ .....IMO
Q-GOLD ANNOUNCES RESUMPTION OF MCKENZIE GRAY GOLD/SILVER DRILLING PROGRAM
Oct. 21, 2010 (Canada NewsWire Group) --
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).
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Foley Gold Mine
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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:
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DDH Sample From To Apparent Au g/T Ag g/T
(m) (m) Width (m)
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Q-WVN-10-1 55353 13.0 13.2 0.2 less than 0.03 6.4
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Q-WVN-10-1 55356 79.14 79.61 0.47 5.88 1.4
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Q-WVN-10-1 55360 85.56 85.88 0.32 4.26 14.7
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Q-WVN-10-2 55379 105.30 107.0 1.7 6.48 0.7
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Q-WVN-10-2 55381 109.1 110.0 0.9 0.05 7.8
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Q-JV-10-2 55433 37.43 38.59 1.16 5.06 2.2
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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.
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About Q-Gold Resources Ltd.
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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
