CMQ Announces Drilling Results on South Sleeper Project
27 Agosto 2012 - 9:28AM
PR Newswire (Canada)
CALGARY, Aug. 30, 2012 /CNW/ - CMQ Resources Inc. ("CMQ") is
pleased to report drill results for a six-hole core drilling
program at the South Sleeper (RO claims) epithermal gold
exploration project in Humboldt County, Nevada. The project
is being explored under an "Exploration and Option to Enter Joint
Venture Agreement" with Geologix (US) Inc. Montezuma Mines Inc.
("Montezuma"), a wholly owned subsidiary of CMQ, completed a
5,294-foot (1,614-meter) drilling program designed to continue
testing three of seven prospect areas defined by anomalous surface
geochemical and geophysical characteristics. All six holes were
completed to target depth. The Sleeper rhyolite was drilled
in two of the six holes. The underlying Intermediate volcanic
rocks were drilled in all holes. The rhyolite exhibits
complex flow and flow-dome features. Argillic and
silicic alteration, as well as pyrite-marcasite veinlets and
disseminations, have been observed in the rhyolite and Intermediate
volcanic rocks. The drilling results provide additional
evidence that the migration of hydrothermal fluids was controlled
by flat-lying breccia zones and high-angle fracture zones, the same
geologic features of exploration significance controlling
gold mineralization at the Sleeper Mine. The data confirm
that two of the three anomalies drilled lie in an area of faulting
that controls hydrothermal alteration southward from Sleeper.
Significant drill intercepts, defined as mineralization grading
0.003 oz Au/t (0.1 g Au/t) or 0.044 oz Ag/t (1.5 g Ag/t) or better
over 5 feet (1.5 meters) or longer, are presented in the table
below.
___________________________________________________________________
| Drill |Intercept |Length |oz Au/t|oz Ag/t|Length (m)|g Au/t|g
Ag/t| | Hole | (ft) | (ft) | | | | | |
|_______|__________|_______|_______|_______|__________|______|______|
|MS12-01| 290-300 | 10 | | 0.143 | 3.05 | | 4.9 |
|_______|__________|_______|_______|_______|__________|______|______|
| | 350-360 | 10 | | 0.108 | 3.05 | | 3.7 |
|_______|__________|_______|_______|_______|__________|______|______|
| | 430-440 | 10 | 0.004 | | 3.05 |0.124 | |
|_______|__________|_______|_______|_______|__________|______|______|
| | 510-520 | 10 | 0.003 | | 3.05 |0.102 | |
|_______|__________|_______|_______|_______|__________|______|______|
|MS12-02| 80-140 | 60 | 0.017 | | 18.29 |0.577 | |
|_______|__________|_______|_______|_______|__________|______|______|
| | 440-510 | 70 | 0.022 | | 21.34 |0.764 | |
|_______|__________|_______|_______|_______|__________|______|______|
| | 560-580 | 20 | 0.022 | | 6.10 |0.769 | |
|_______|__________|_______|_______|_______|__________|______|______|
|MS12-03| 410-420 | 10 | | 0.044 | 3.05 | | 1.5 |
|_______|__________|_______|_______|_______|__________|______|______|
|MS12-04| 290-300 | 10 | 0.015 | | 3.05 |0.512 | |
|_______|__________|_______|_______|_______|__________|______|______|
| | 360-390 | 30 | 0.003 | | 9.14 |0.107 | |
|_______|__________|_______|_______|_______|__________|______|______|
|MS12-05| 130-140 | 10 | 0.014 | | 3.05 |0.476 | |
|_______|__________|_______|_______|_______|__________|______|______|
| | 710-715 | 5 | 0.016 | | 1.52 |0.560 | |
|_______|__________|_______|_______|_______|__________|______|______|
| | 820-825 | 5 | 0.010 | | 1.52 |0.350 | |
|_______|__________|_______|_______|_______|__________|______|______|
|MS12-06| 240-250 | 10 | 0.030 | | 3.05 | 1.04 | |
|_______|__________|_______|_______|_______|__________|______|______|
Drill holes MS12-01 and MS12-02 were drilled in the northwestern
part of the project. Both holes were terminated in gravel at
depths of 852.5 and 800 feet, respectively. Thickening of the
rhyolite and increased higher temperature alteration has been
observed in the drill holes. Reflectance spectroscopic
analysis is now being completed on all holes and multi-element
geochemical analyses will assist in vectoring towards possible
ore-bearing areas in the next phase of drilling. Ninety-two
additional lode claims have been staked on the western and southern
boundaries of the property, of which forty-two are subject to the
terms of the Agreement with Geologix (US) Inc. True thicknesses of
the intercepts are not known. All samples were collected from
diamond drill core sawn in half using a diamond saw. Half the
core was submitted and assayed by ALS Minerals of Sparks,
Nevada. Gold results were determined using standard fire
assay techniques on a 30-gram sample pulp with an atomic absorption
finish. Trace elements, including silver, were assayed using
an ME-ICP 41 method. Montezuma QA/QC includes the insertion
of standards and blanks on a regular basis, check assays on select
samples, and the collection of duplicate samples. Project Details
The South Sleeper (RO claims) project in Humboldt County, Nevada,
includes 60 unpatented lode mining claims (1.7 square miles/4.4
square kilometers) lying 1.5 miles (2.4 kilometers) south of the
Sleeper Mine. The targets are bonanza-grade epithermal veins,
marcasite-cemented breccias and volumes of stockwork veining. CMQ
has filed its financial statements and management discussion and
analysis for the period ended June 30, 2012 on www.SEDAR.com. CMQ
currently has 44,188,682 Common Shares issued and
outstanding. CMQ's website is located at www.cmqresources.com
John Hogg, CEO, CMQ Resources Inc., is the qualified person, as
defined by National Instrument 43-101, who has reviewed and
verified the data disclosed in this press release. The TSX Venture
Exchange does not accept responsibility for the adequacy or
accuracy of this release. Forward-Looking Statements This press
release contains certain forward-looking statements and
forward-looking information (collectively referred to herein as
"forward-looking statements") within the meaning of Canadian
securities laws, including with respect to the timing and details
of the referenced drilling program. All statements other than
statements of historical fact are forward-looking statements.
Forward-looking statements typically contain statements with words
such as "anticipate", "believe", "plan", "continuous", "estimate",
"expect", "intend", "may", "will", "shall", "project", "would",
"should", or similar words suggesting future outcomes. Undue
reliance should not be placed on forward-looking statements, which
are inherently uncertain, are based on estimates and assumptions,
and are subject to known and unknown risks and uncertainties (both
general and specific) that contribute to the possibility that the
future events or circumstances contemplated by the forward-looking
statements will not occur. There can be no assurance that the
plans, intentions or expectations upon which forward-looking
statements are based will in fact be realized. Actual results will
differ, and the difference may be material and adverse to CMQ and
shareholders. Forward-looking statements are based on management's
current beliefs as well as assumptions made by, and information
currently available to, management. Though management considers
these assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect. By their very
nature, forward-looking statements involve inherent risks and
uncertainties, both general and specific, and risks that
forward-looking statements will not be achieved. The
forward-looking statements contained in this press release are made
as of the date hereof and CMQ does not undertake any obligation to
update publicly or to revise any of the included forward-looking
statements, except as required by applicable law. The
forward-looking statements contained herein are expressly qualified
by this cautionary statement. CMQ Resources Inc.
CONTACT: Please contact John Hogg, CEO, CMQ Resources Inc., Tel:
(775)778-3693.
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