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PRESS RELEASES 7/7/2011 5:00:00 AM | Canada News Wire Q-Gold Announces High Grade Arizona Gold and Silver Assays VANCOUVER, July 7, 2011 /CNW/ - Q-Gold Resources Ltd. (TSX VENTURE: QGR) (http://www.qgoldresources.com) is pleased to announce that its Joint Venture with Cavan Ventures Inc. (TSXV: CVN) ("Cavan") near Crown King in the Peck Mining District of Yavapai County, Arizona (see press release dated May 5, 2011) has encountered "high-grade" silver (Ag) as well as high-grade gold (Au) assay results in the first batch of 33 samples from a "chip" sampling program across mineralized vein faces in adits and stopes of the historic Black Warrior Mine. Significant assay values for lead (Pb), zinc (Zn) and antimony (Sb) were also obtained. The mine is under option to the Joint Venture, along with 2 additional patented mining claims and 22 adjoining U.S. Bureau of Land Management ("BLM") mining claims, held by Q-Gold. Peck Mining District: The Peck District is famous for its historic high-grade silver production, having produced from historical records an "official" 1,374,000 ounces from 1875 to 1910, when Arizona was a "territory", before it became a state. Assay Results: The sampling program was conducted by Beck Environmental and Remediation Ltd., Arizona geologic consultants. Three "chip" samples taken across the face of three veins in an 1890's era stope on the upper section of the "Nora B" patented claim, which makes up a part of the historic Black Warrior mine complex, yielded the following "high-grade" grade silver assay results, as well as gold in the one troy ounce per ton ("opt") range: ASSAY PROCESS ME-GRA2 ME-1CP61 Sample # Sample Width (m) Au (ppm) Au (opt) Ag (ppm) Ag (opt) Pb (ppm) Pb (%) Zn (ppm) Zn (%) Sb (ppm) Sb (%) BM-25 0.3 34.4 1.0 7,300 212.9 98,600 9.86 5,580 0.56 2,310 0.23 BM-26 0.5 37.0 1.1 8,140 237.4 126,500 12.65 3,400 0.34 2,670 0.27 BM-27 0.5 38.4 1.1 5,850 170.6 101,500 10.15 4,020 0.40 3,850 0.39 A second group of six "chip" samples taken from across the face of the hanging (upper) wall of a vein in a partially mined ore shoot in the Black Warrior Mine. Samples were obtained from exposed vein widths between 0.1 to 1.0 metre, with an average of 0.2 metres and yielded the following additional high-grade results: ASSAY PROCESS ME-GRA21 ME-ICP61 Sample # Au (ppm) Au (opt) Ag (ppm) Ag (opt) Pb (ppm) Pb (%) Zn (ppm) Zn (%) Sb (ppm) Sb (%) BM-1 9.26 0.27 4,150 121.0 185,500 18.55 31,200 3.12 3,290 0.33 BM-2 5.99 0.18 3,790 110.5 74,800 7.48 36,200 3.62 >50,000 >5.00 BM-3 15.25 0.45 6,240 182.0 187,000 18.70 27,800 2.78 4,710 0.47 BM-4 7.39 0.22 4,780 139.4 96,200 9.62 30,100 3.01 23,700 2.37 BM-5 3.85 0.11 1,690 49.3 47,300 4.73 21,700 2.17 >50,000 >5.00 BM-6 8.18 0.24 5,470 159.5 94,500 9.45 33,800 3.38 39,000 3.9 The presence of significant antimony in the samples is unusual, as there is no current U.S. domestic source of antimony ore. U.S. imports of antimony ores and concentrates are supplied principally by China and Austria. All samples were run by the ALS Chemex lab in Reno, Nevada using both ME-GRA 21 (fire assaying for precious metals) and MI-ICP61 (geochemical/ electrical analysis for 33 elements) assay processes. Assay results for the remaining 24 samples will be reported when all results are received. ALS Chemex will be retesting those samples in which lead and antimony values exceeded ME-ICP61 test limitations for actual metal content percent. Geology: The original Pre-Cambrian Volcanogenic Massive Sulfide ("VMS") deposits in the Peck District have undergone a more recent low-temperature, thermal event via solution, enriching the silver in the shoots. The mineralized zones are lenticular and / or podiform (ore shoots) tending to occur in groups of up to 8, and are separated by less than 200 feet laterally. The silver mineralization includes argentiferous galena, argentite, pyrargyrite and other antimonial silver minerals. Airborne Survey: The joint venture has contracted with Geotech Inc. (Toronto) for a 277 line-kilometer helicopter-borne "VTEM" / magnetic geophysical survey over its holdings in the Peck mining District, scheduled for implementation within the next ten days. After interpretation of the VTEM results, ground SP/ IP geophysical surveys will be run to more precisely delineate potential drill targets which are revealed within the extensive gold and silver-bearing vein systems in the Peck District. Joint Venture: The joint venture agreement, which is subject to TSX-Venture Exchange approval, entitles Cavan to earn a 65% participation interest in the Properties by completing a series of cash payments and issuance of Cavan common shares to Q-Gold and completing certain work on the properties over an 18-month period following approval. Brian A. Beck P. Geo., a principal in Beck Environmental and Remediation Ltd., reviewed and has approved the technical content of this release. |
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| aus der Diskussion: | wird QGR nächster RAINY RIVER- area- play ????? |
| Autor (Datum des Eintrages): | allida (07.07.11 17:59:07) |
| Beitrag: | 36 von 50 (ID:41757350) |
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