Q-Gold samples up to 45.4 ppm Au at Mine Centre
2009-09-15 15:23 ET - News Release
Mr. Bruce Carruthers reports
MORE HIGH-GRADE GOLD VALUES PLUS 12 HOLE DRILLING PROGRAM FOR Q-GOLD AT MINE CENTRE, ONTARIO
Q-Gold Resources Ltd. has received more high-grade gold results from trenching and sampling on three of the gold/quartz veins in the extensive vein complex at Mine Centre, Ont., where the company holds over 30,000 contiguous acres. The company also announced that a 12-hole diamond drilling program has commenced on the McKenzie Gray gold/quartz vein (see Stockwatch news dated Aug. 18, 2009) in gold/sulphide mineralization drilled by the previous owners in 1992. Five sections of fan holes of varying lengths each are targeted to attempt to reach several gold-bearing zones at a maximum hole depth of 150 metres.
Assays on 14 further samples taken at one-metre intervals on a one-metre-by-one-metre grid over a strike length of 15 metres on the Baseline vein and four samples from each of the West and East bifurcations of the Nugget extension vein over total strike lengths of 47.8 metres and 51.0 metres, respectively, revealed the gold values outlined in the tables (one part per million equals one gram per tonne).
BASELINE VEIN(8.17 grams/tonne weighted average) Sample No. Au (ppm) Sample weight (kg)55049 0.45 2.7055050 8.83 4.1455051 3.17 3.7255052 10.55 4.7155053 0.12 4.6755054 1.83 3.8255055 9.01 2.8755056 19.30 4.3855057 2.27 2.7755058 2.57 2.6955059 45.40 3.8955060 0.10 3.5855061 3.46 3.8555062 0.64 4.02
NUGGET EXTENSION (WEST) VEIN(12.44 grams/tonne weighted average) Sample No. Au (ppm) Sample weight (kg)55064 5.36 19.0955068 5.24 18.1055069 34.90 19.0855071 3.26 17.75
NUGGET EXTENSION (EAST) VEIN (2.02 grams/tonne weighted average) Sample No. Au (ppm) Sample weight (kg) 55063 0.48 18.8755065 2.65 21.5755066 5.02 18.0955067 0.13 20.35
Assays were performed by ALS Chemex Division (Vancouver) of ALS Canada Ltd., using the gold atomic absorption 26 procedure.
As noted above, high-grade samples were encountered in the Baseline vein (No. 55059 at 45.4 grams per tonne gold) and in the Nugget extension (west) vein (No. 55069 at 34.9 grams per tonne Au).
Thus, when combined with 96 previously reported assays from the Baseline vein (see Stockwatch news dated June 18, 2009, July 22, 2009, and July 30, 2009), the total 110 samples taken from the Baseline vein in a one-metre-by-one-metre grid mini-bulk sample produced a weighted average gold value of 8.51 grams per tonne. Two drill locations have been recently established on the Baseline for future core drilling to establish the presence of the vein at depth. As the exposed 100-metre strike length of the Baseline vein has considerable vertical topographic relief of over 100 metres, it may become a candidate for future surface mining.
Kevin Leonard, PGeo, is the qualified person as defined under National Instrument 43-101, who took the samples and prepared them for assay. He has reviewed and approved the technical content of this press release.
We seek Safe Harbor.
We might see a spike in trading tomorrow. I don't know how well a pre-emptive bid would do here. That would be a coin toss indeed. Perhaps it would be something to watch for an October correction.