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q-gold resources ltd (QGR) Snapshot

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q-gold resources ltd (QGR) Details

Q-Gold Resources Ltd., a mineral exploration company, focuses on the exploration and development of mineral properties in Canada and the United States. It primarily explores for gold, copper, and silver metals. The company holds interests in the Crown King properties covering approximately 64 acres located in the southern Bradshaw Mountains of Yavapai County, Arizona. It also holds interests in the Mine Centre properties that covers approximately 26,000 acres of mining claims, leases, patents, and options, which primarily include the Foley and Golden Star gold mines located to the east of Fort Frances, Ontario; and the McKenzie Gray project comprising 6 crown leases and 23 mining claims covering an area of 1,143 acres located in Ontario, Canada. The company is based in Vancouver, Canada.

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q-gold resources ltd (QGR) Key Developments

Q-Gold Resources Ltd. Receives Approval for Arizona Drill Program from US Forest Service

Q-Gold Resources Ltd. announced that project approval for the drilling of the company's extensive 'A' anomaly on its 'Green Mohave 2' U.S. Bureau of Land Management (BLM) mining claim has been received from the US Forest Service (USFS), which administers the claim. The anomaly was initially revealed by a GEOTECH airborne (helicopter) VTEM geophysical survey completed in mid-2011 and further confirmed and delineated in the 4th quarter of 2012 in a hybrid magnetotellurics (MT) ground survey of the best VTEM lines. Pending the presentation and approval of a Reclamation Bond required by the USFS, which is now in progress, the company's Arizona subsidiary, Mineral Creek Resources Inc., will receive the drill permit to sink 3 'NQ' diameter diamond drill holes at various depths into the prospective zone from each of 2 drill pads to be constructed. Drilling is expected to commence before year-end. The 'A' anomaly is located on a virtually unexplored ridge in a series of ridges formed by block-faulting of the underlying volcanic meta-sediments.

Q-Gold Resources Ltd. Announces Additional Exploration at Crown King

Q-Gold Resources Ltd. announced that, based on positive results from a preliminary ground hybrid magnetotellurics (‘MT’) geophysical survey last Fall over the historic Peck and Black Warrior silver mine complexes, the company has scheduled a series of additional M/T recording stations on the ridges containing the mines. Both mines, located in the Peck Mining District of Yavapai County, Arizona, near the hamlet of Crown King, are under option to the company and have been the subject of concentrated exploration efforts in the past two years. These include both airborne (VTEM /magnetics) and ground MT geophysical surveys, as well as intensive investigation and sampling of the old workings of the mines (adits, shafts and stopes). Assays: Q-Gold conducted a 'chip' sampling programming in 2011 across the face of the veins and partially mined ore shoot in the upper section of the Black Warrior Mine. The Company received laboratory assays results on a series of these chip samples indicating ‘high grade’ silver in the range from 1,690 to 8,140 grams/tonne (g/t) [49.29 to 237.42 oz/ton (opt)] and gold ranging from 3.85 to 38.4 g/t [0.11 to 1.12 opt]. Significant levels of lead, zinc and antimony (up to 24% by weight for the latter) were recorded. The Peck Mine was entered and mapped internally by a Q-Gold contracted crew, in 2010. A fire assay of a sample taken from the wall of one of the Peck Mine adits during the entry recorded a silver value of 379 g/t [11.05 opt]. Preliminary M/T Results: Peck Mine: As part of a limited ‘reconnaissance’ MT survey over the Peck and Black Warrior Silver Mines, 5 MT recording stations were established over the Peck Mine in October 2012. A significant conductive anomaly, with low resistivity readings less than about 50 ohm-meters, was encountered near the two existing mine shafts. This strong anomaly also extends to the north and downward to at least the 170 m level, or 48 m below the existing historic workings which terminated at the 122 m level. Thus, an additional 48 m of potential un-mined mineralized zone may underlie the existing workings over a horizontal distance of at least 100 m. An additional 2 new lines containing 15 MT stations are planned for recording at the Peck Mine prior to drilling of the indicated conductive zone. Black Warrior Mine: Interference caused by metal debris from the roof of a burned building which resulted from the 2012 ‘Gladiator’ wildfire at Crown King prevented some areas of the mine from producing a suitable MT response. However, 3 MT stations were able to record satisfactory conductive responses along a single survey line. Stations at each end of the line exhibited the beginning of highly anomalous (conductive) zones exhibiting less than 100 ohm-meters of resistivity, extending from about 50 to 150m in depth, the middle station being located over an apparent highly resistive rhyolite dike. As recommended by the company's geophysical consultant, 2 additional lines and intermediate locations containing 12 MT stations will be recorded prior to drilling under the old workings of the Black Warrior silver mine. Drill Plan - Peck and Black Warrior Mines: Based on the results of the second MT survey, the company plans to drill a series of diamond core holes below the workings of both mines. As both the Peck and Black Warrior Mines are located on Federal Patented mining claims, drilling is expected to proceed shortly after the MT geophysical data review is completed, without requiring a substantial permitting delay. Drill Plan - Green Mohave 2: As previously reported on February 20, 2013, the company has applied for a permit from the U.S. Forest Service for a series of diamond drill holes on the Green Mohave 2 mining claim, which contains the large ‘A’ conductive anomaly. Upon receipt of the permit, the company will drill 6 core holes into the ‘A’ anomaly from 2 drill pads. 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.

Q-Gold Resources Ltd. Resubmits its Plan of Operations to the Forest Service

Q-Gold Resources Ltd. announced 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.

 

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