CMQ Announces Drilling Results on North Sleeper Project
26 Agosto 2012 - 11:29PM
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 North Sleeper (S310 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 C(3) Resources, Inc. Montezuma Mines Inc.
("Montezuma"), a wholly owned subsidiary of CMQ, completed six core
holes totaling approximately 3,568 feet (1,088 meters).
Montezuma targeted a pronounced deflection in the strike of the
Sleeper Fault. There is evidence in multiple data sets of a
significant north-northwest trending structural zone striking
N20-30°W that intersects the Sleeper Fault near this
location. An embayment in the gravity high is present in the
target area, and the vertical derivative of the gravity shows a low
at the location of the intersection. This is also coincident
with a magnetic low that extends southeast across the Sleeper
Fault. A deep low-resistivity zone strikes to the
southeast. Coincident gravity gradient, low magnetic
intensity and chargeability highs extend to the northwest of this
location, suggestive of a zone of major structural intersection and
intense alteration. Twenty-one sites have been permitted under a
Notice with the BLM. Alteration and structural preparation in the
North Sleeper holes are significant. Of particular note is
the silicification in hole MN12-03 from 329 to 458 feet, especially
the interval from 329 to 335 feet with intense silicification, late
stage quartz veining, open space texture, rehealed breccias and
clay-altered fracture zones. Correlation between the drill
holes will aid in the siting of the next series of holes in this
structurally complex area. The drill-hole geological logs,
downhole multielement geochemistry, and reflectance spectroscopy of
drill core will also be of great assistance. In the first
phase of drilling, only single holes on planned fences were
drilled. The most significant intercept in the drilling program
follows:
____________________________________________________________ |Hole
# |Intercept|Length|oz Au/t|oz Ag/t|Length|g Au/t|gAg/t| | | (ft) |
(ft) | | | (m) | | |
|_______|_________|______|_______|_______|______|______|_____|
|MN12-06| 448-450 | 2 | | 0.059 | 0.61 | |2.01 |
|_______|_________|______|_______|_______|______|______|_____|
Project Details The North Sleeper (S310 claims) project in Humboldt
County, Nevada, includes 50 unpatented lode mining claims (1.5
square miles/2.4 square kilometers) lying 2 miles (3.2 kilometers)
north of the Sleeper Mine. The targets are bonanza-grade
epithermal veins, marcasite-cemented breccias and volumes of
stockwork veining. 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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