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northquest ltd (NQ) Details

Northquest Ltd., a mineral exploration company, engages in the identification, acquisition, exploration, and development of properties for the mining of gold and other metals. It primarily holds a 100% interest in Pistol Bay Gold project consisting of 845 square kilometers of staked claims located in Nunavut territory, Canada. The company is based in Toronto, Canada.

northquest ltd (NQ) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$325.0K
Chief Financial Officer
Total Annual Compensation: C$18.0K
Compensation as of Fiscal Year 2014.

northquest ltd (NQ) Key Developments

Northquest Ltd., Annual General Meeting, Dec 10, 2014

Northquest Ltd., Annual General Meeting, Dec 10, 2014., at 11:00 US Eastern Standard Time. Location: Suite 2100, 40 King Street West. Agenda: To receive and consider the financial statements of the corporation for the fiscal year ended June 30, 2014, together with the report of the auditors thereon; to elect directors; to appoint auditors and to authorize the directors to fix their remuneration; to consider and, if deemed fit, confirm the existing stock option plan of the corporation, all as more particularly described in the management information circular accompanying this notice; and to transact such further or other business as may properly come before the meeting or any adjournment or adjournments thereof.

Northquest Ltd. Announces Drilling Results from the Pistol Bay Gold Project, Nunavut, Canada

Northquest Ltd. announced the first batch of 2014 drilling results from the Pistol Bay Gold Project, Nunavut, Canada. The project consists of 861 square kilometres of mineral rights covering a 90 kilometre strike length of a gold bearing trend known as the Pistol Bay Trend, which contains a west-trending series of gold occurrences and gold zones intersected in holes drilled by Northquest in 2011, 2012, and 2013. Over the past 4 years, since field operations commenced in April 2011, the company has completed three airborne geophysical surveys and 13,660 metres of diamond drilling in 66 drill holes, of which 9,400 metres of drilling and 37 drill holes were completed at the Vickers Target. The results reported herein are from the Vickers Target. The company has completed 4,550 metres of drilling so far this year in 18 drill holes and additional drilling is planned for this year. This year's strategy and objectives are to complete drilling on Sections 8800 W, 8750 W, 8700 W, 8650 W, and 8600 W in order to explore the potential extension of the gold zone that has been intersected over a 200 metre strike length from 8800 W to 9000 W in holes drilled by Northquest in 2012 and 2013. The Vickers Target is an elliptical gabbro-diorite intrusive complex with a long axis of 1 kilometre. The gabbro-diorite intrusion is within silicified felsic schist and mylonite of a linear zone referred to as the Pistol Bay Corridor. Gold in surface outcrops occurs in a silicic, chloritic, breccia body exposed in the margin and footwall of the intrusion. The contact between the mineralized intrusion and the mineralized footwall sequence has a strike azimuth of approximately 110 degrees and dips south at approximately 60 to 70 degrees. Weighted average grades are calculated from assays of drill core with sample lengths, in general, of 1.0 to 1.5 metres. Grams gold per tonne, g/t Au, &ppm gold all mean the same thing. The detection limit of the assay method is 0.01 ppm gold. In PB-14-07, five of the 190 samples analysed in the major interval contain less than 0.01 ppm gold. Two drill core samples in the data described herein contain greater than 35.00 grams gold per tonne, a concentration arbitrarily selected for discussion purposes, equivalent to approximately one ounce gold per ton. List of all samples with gold concentrations greater than 35.00 g/t Au and the contribution of those samples to the weighted average grade of the reported intersection. Drill core samples of NTW size were collected and cut in half with a rock saw on site. In general, sample lengths vary from 1.0 to 1.5 metres. Rock samples were analyzed by AGAT Laboratories in Mississauga, Canada, (an ISO 17025 accredited laboratory by the Standards Council of Canada (SCC), by AGAT method 202-121 in which 1 kg of sample pulp is passed through a 75 micron screen and all of the coarse material on the screen is assayed by fire assay with gravimetric finish (Code 202064) and two samples of homogenized pulp that passed through the screen are assayed by fire assay with AA finish (Code 202052) on 30 gram sample charges. Finally the weighted average of all assays is calculated by the laboratory and reported as the gold concentration of the rock sample. For analytical quality control, blank samples and commercially prepared and certified gold control standards with a range of grades are inserted at a frequency of one standard for every 10 samples and one blank for every 20 samples.

Northquest Ltd. Commences Airborne Magnetometer Survey Commences at Pistol Bay Gold Project, Nunavut, Canada

Northquest Ltd. announced that an airborne magnetometer survey has commenced at the Pistol Bay Gold Project, Nunavut, Canada. The Pistol Bay Project consists of 860 square kilometres of staked claims covering a 90 kilometre strike length of the Pistol Bay Trend which is a west-trending series of surface gold occurrences and gold zones intersected in drill holes by Northquest in 2011, 2012, and 2013. The Pistol Bay Trend is a newly recognized trend parallel to, and 80 kilometres south of, the Meliadine Trend of gold deposits of Agnico Eagle Mines, which reportedly contains 3.0 million ounces of gold reserves, plus 2.2 million ounces indicated and 2.9 million ounces inferred. The airborne magnetometer survey will consist of a total of 6,890 kilometres of survey lines using the Terraquest Magnetic Horizontal Gradiometer system with a 100 metre survey line spacing and a nominal sensor height of 70 metres. The survey will cover the west half of the Pistol Bay property, which has not been surveyed by Northquest. The purpose of the survey is to provide more information about the context of the CZ and Barrett gold occurrences, which are both captured by the Pistol Bay Trend. In addition, geophysical anomalies that are interpreted as intrusions, iron formations, and shear zones will be prioritized for further ground follow-up work. Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource at the Pistol Bay Project to date, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. Northquest is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of gold and other minerals. Northquest has 53,853,707 shares outstanding (77,578,318 shares on a fully diluted basis).


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