VANCOUVER, BC, Aug. 31, 2021 /CNW/ - QuestEx Gold &
Copper Ltd. (TSXV: QEX) ("QuestEx" or the
"Company") is pleased to provide an update on its 2021
exploration activities.
QuestEx has successfully completed an exploration drill program
on its 100% owned, 91 square kilometre ("sq. km"),
Sofia property in the prolific
Toodoggone district and has subsequently moved operations to its
100% owned 312 sq. km KSP property ("KSP") in the heart of
British Columbia's Golden
Triangle.
Tony Barresi, QuestEx's President
comments: "Conducting back-to-back exploration programs at
Sofia in the Toodoggone District
and KSP in the Golden Triangle has allowed QuestEx to maximize the
northern British Columbia
exploration season while maintaining continuity and efficiency with
staff and contractors. The exploration programs are designed to
leverage the Company's large and diverse property portfolio and
expose shareholders to multiple opportunities for exploration
success on projects at various stages of advancement. A drill is
currently turning at the Inel gold prospect on the KSP property
where a planned 4,000 metre ("m") program is well underway.
The program has been designed to support a maiden National
Instrument ("NI") 43-101 mineral resource estimate that we
expect to release in the first quarter of 2022."
Commencement of QuestEx's KSP Property Exploration
Program
Exploration activities began transitioning from the Sofia property to KSP on July 28th and drilling began at KSP on
August 14th. As of
August 30th, 1,037 m of the approximately 4,000 m program have been completed. The drill
program is designed to optimize an anticipated maiden NI 43-101
mineral resource estimate for the Inel gold prospect, which QuestEx
expects to release in the first quarter of 2022. Inel is one of the
most advanced exploration targets in British Columbia's Golden Triangle that does
not already have a NI 43-101 mineral resource estimate. It is
primarily a gold ("Au") target with historical drill
intercepts of both narrow interval high-grade Au mineralization
(e.g. 1,670.51 grams per tonne ("g/t") Au over 1.4 m in drill-hole INDDH17-081 from 35.60 m), and long-interval lower-grade Au
mineralization (e.g. 4.24 g/t Au over 52
m in INDDN16-029 from 44.00
m). Inel has been tested with more than 38,000 m of historical drilling in 305 drill
holes and 1,240 m of underground
development.
In addition to drilling at Inel, QuestEx is focused on
evaluating under-explored, high potential porphyry copper-gold
targets, also located on the regional-scale KSP property. Field
crews have been mapping and prospecting several areas across the
property, evaluating and advancing future drill targets. To date,
field crews have identified and sampled significant extensions to
known mineralized trends at both Khyber
Pass and Black Bluff where retreating glaciers have exposed
new bedrock.
A geophysical crew has been dispatched to Sericite Ridge and the
Tami gold showing, also on the KSP property, where they are
conducting an approximately 30 line-km induced polarization
("IP") survey designed to detect porphyry related
mineralization beneath an extensive 6.0 by 2.5 km zone of strongly
altered rock exposed on the top of Sericite Ridge. Historical
drilling on Sericite Ridge focused on the Tami prospect and yielded
significant results (e.g. 1.74 g/t gold and 0.24% copper
("Cu") over 40 m), but the
majority of the ridge remains untested by drilling. Widespread
alteration across the ridge suggests that a large, buried porphyry
system may be present, and this is supported by strong
copper-tellurium anomalies in stream sediments surrounding the
untested northern portion of the ridge. The IP survey will help to
target a buried porphyry within this impressive alteration system,
which remains mainly untested by drilling.
About the KSP Property
QuestEx's 100% owned, 312 sq. km KSP property in British Columbia's Golden Triangle is
strategically situated between the past producing Snip and
Johnny Mountain gold mines to the
northwest and the past producing Eskay
Creek gold-silver mine and the Kerr, Sulphurets, Mitchell
and Iron Cap copper-gold deposits to the east. The property can be
accessed via the new McLymont Creek access road, which crosses the
northern portion of the property. KSP hosts dozens of mineral
occurrences that have seen variable amounts of exploration,
including the Inel prospect which has yielded numerous high-grade
drill intersections and is the focus of QuestEx's 2021 exploration
program.
Exploration Completed at Sofia
The 2021 exploration program on the Sofia property was designed to give QuestEx
shareholders exposure to multiple opportunities for exploration
success by drill testing three high-potential grassroots targets
across the property. The program began by testing two early-stage
porphyry copper-gold targets, Alexandra and Tranquillo, and then
advanced to epithermal gold targets at Quartz Lake. The now
completed exploration program included 1,611
m of drilling in seven holes, infill soil sampling (422
samples), and prospecting.
About the Sofia Property
QuestEx's 100% owned, 91 sq. km, Sofia property in the Toodoggone District of
British Columbia is strategically
situated 35 km north of the historic Kemess mine and less than 20
km east of the historic Lawyers, Baker and Shasta mines.
Sofia occupies strategic and
prospective ground in a district that is being actively explored by
world class miners including Freeport McMoRan, Centerra, and
Hunter Dickinson (HDI), and numerous
junior explorers including Benchmark Metals and Evergold Corp. The
property contains a large, 6.5 by 4 km, multi-element soil anomaly
that also spans at least 700 m in
elevation change from the Toodoggone River Valley, where porphyry
copper-gold mineralization is exposed at surface, to Alunite Ridge
and Quartz Lake where high and low sulphidation epithermal
gold-silver mineralization has been discovered. Sofia is easily accessed by helicopter and
lies within 6 km of existing roads that could potentially be
extended onto the property to support future exploration or
development.
QuestEx is excited about the 2021 season and is looking forward
to unlocking shareholder value through exploration on its large
portfolio of 100% owned properties. The Company will continue to
provide exploration updates and will release drill results as they
are received and validated.
We seek safe harbor.
Qualified Person
Tony
Barresi, Ph.D., P.Geo., QuestEx's President, a Qualified
Person within the meaning of National Instrument 43-101, has
reviewed and approved the technical information in this news
release.
About QuestEx
QuestEx Gold &
Copper Ltd. is exploring for gold and copper with a focus on
the Golden Triangle and Toodoggone areas of British Columbia, Canada. It has 100%
ownership of one of the largest portfolios of mineral tenures in
British Columbia's metal-rich
Golden Triangle. The portfolio includes the 312 square kilometre
KSP property, which is surrounded by some of the most important
past and current mining and development projects in British Columbia (e.g. Eskay Creek, Snip, Brucejack, KSM, Johnny Mountain); QuestEx intends to release a
NI 43-101 mineral resource estimate for the Inel gold showing,
located on the KSP property, in 2022. In the northern corner of the
Golden Triangle in the Red Chris mining district QuestEx's
portfolio includes the Castle property, a porphyry copper-gold
project located adjacent to Newmont's Tatogga property, and along
trend of the Saddle North porphyry copper-gold deposit (>10
million ounces gold, in all categories). Other properties include
North ROK, Coyote, and Kingpin in the Golden Triangle, Sofia in the Toodoggone district, and Heart
Peaks and Hit in other strategic districts within British Columbia. These assets are being
advanced by a newly assembled technical and management team with
experience in exploration, permitting and discovery.
ON BEHALF OF THE BOARD OF DIRECTORS OF QUESTEX GOLD &
COPPER LTD.
"Joseph Mullin"
Joseph Mullin
Chief Executive Officer and Director
Neither TSX-V nor its Regulation Services Provider (as that
term is defined in the policies of TSX-V) accepts responsibility
for the adequacy or accuracy of this release.
NR21-15
Cautionary Note Regarding Forward-Looking
Statements
All statements, trend analysis and other information
contained in this press release about anticipated future events or
results constitute forward-looking statements. Forward-looking
statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "believe", "plan", "estimate",
"expect" and "intend" and statements that an event or result "may",
"will", "should", "could" or "might" occur or be achieved and other
similar expressions. All statements, other than statements of
historical fact, included herein, are forward-looking statements.
Although the Company believes that the expectations reflected in
such forward-looking statements and/or information are reasonable,
undue reliance should not be placed on forward-looking statements
since the Company can give no assurance that such expectations will
prove to be correct. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in
such forward-looking statements, including the risks, uncertainties
and other factors identified in the Company's periodic filings with
Canadian securities regulators as well as the risk that the ongoing
COVID-19 pandemic may have on the Company's business. Important
factors could cause actual results to differ materially from
QuestEx expectations. Forward-looking statements are based on
estimates and opinions of management at the date the statements are
made. QuestEx does not undertake any obligation to update
forward-looking statements except as required by applicable
securities laws. Investors should not place undue reliance on
forward-looking statements.
SOURCE QuestEx Gold & Copper Ltd.