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Q-Gold Announces Mine Centre Gold / Silver Drilling Program
Jul. 19, 2011 (Canada NewsWire Group) --
VANCOUVER, July 19, 2011 /CNW/ - Q-Gold Resources Ltd. (TSX VENTURE: QGR) (http://www.qgoldresources.com) is pleased to announce that it has initiated an extensive diamond drilling program on both its McKenzie Gray gold / silver deposit and the historic Foley Gold Mine at Mine Centre in the Kenora Mining District of Ontario. During the current phase of the drilling program, a total of 5,000 metres will be completed, of which 4,000 metres will constitute Phase III of the testing of the 93% owned McKenzie Gray mineralized zone (gold, silver and zinc). The balance of 1,000 metres will test the unexplored northern portion of the "Bonanza Vein" at the Company's 100% owned Foley, a zone that produced 5,267 ounces of gold, principally in the 1890s. An adjoining gold-bearing vein will also be tested.
McKenzie Gray Deposit
After 18 drill holes by previous operators and an additional 30 holes by Q-Gold in 2009 and 2010 (see Press Releases dated 10/28/09 and 2/23/11), the McKenzie Gray mineralized zone is still "open" in 3 directions. These include along strike to the NW and SE, and "at depth" from surface to the 150 metre level. The proposed drill program will attempt to expand the vein system in all three directions by drilling a series of eight (2-3 hole) "fan" sections in stepping out both directions. It will also drill two deep holes to probe the mineralized zone to a vertical depth of 200 metres. The deposit consists of a structural and alteration zone from 10 to 30 meters in width, containing mineralized quartz-rich veins and zones to a known depth from surface of 150 metres and along a strike length of 150 metres.
Drilling Highlights
Highlights of Q-Gold's Phase I program included (in drill hole QMG 09-05) 9.32m of the McKenzie Gray Vein which assayed at 16.69 grams / tonne ("g/t") gold and 20.80 g/t silver. In Phase II, (drill hole QMG 10-03) a 9.25m zone was intersected in a "quartz-rich zone," grading 179.79 g/t silver and 0.44 g/t gold, which included a 5.40m zone yielding 263.92 g/t silver and 0.47 g/t gold.
Foley Gold Mine
The remaining 1000 metres will consist of continuation of 2010 "delineation drilling" from surface to the 400 foot level of the historic Foley Gold Mine. The program will drill three (2-3 hole) "fan" sections into the gold-bearing Bonanza Vein which constituted the mine's historic gold production, and one 3-hole fan into the adjoining "Vowel Vein." This adjoining vein is also gold-bearing with a weighted average of 5.01 g/t over a length of 115 metres (source: Q-Gold Resources Ltd. trenching and sampling program, 2006)
Delineation Drilling Highlights
2010 Foley Mine drilling results provided the following highlights:
DDH# Apparent Width (m) Gold (g/t)
Q-BV-10-1 0.23 106.7
Q-BV-10-2 0.76 4.52
Q-BV-10-3 1.38 4.44
Drill results from the current program will be incorporated into the mine plan for the rehabilitation of the Foley Gold Mine, which is under consideration by the Company.
ON BEHALF OF THE BOARD:
Robert C. Gardner, Q.C., President
The technical content of this release was reviewed and approved by Delio Tortosa M.Sc., 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 Alaska, Ontario and Arizona prospects.
Disclaimer:
"Historical reports" referred to in this release have been examined but not verified by a "Qualified Person" under the requirements of NI 43-101 and therefore should not be relied on for any purpose.
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.
Q-GOLD RESOURCES LTD.
c/o Mineral Creek Resources Inc.
Bank of America Building
Suite 508, 121 East Birch Avenue
Flagstaff, Arizona 86001
Ph: (928) 779-0166/ Fax: 779-0107
www.QGoldResources.com
