Resolute Mining says it will pay Mali $160 million in tax dispute
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Silver Quest Resources (TSX.V: SQI) (“Silver Quest” or “the Company”) is pleased to report the discovery of a significant gold-in-soil anomaly, referred to as Rusty Creek, at the Capoose Project, located approximately 185 km southwest of Prince George, British Columbia. The Rusty Creek anomaly is 1.2 km long by 0.5 km wide and was identified during the 2010 geochemical soil sampling program. For more information please visit the Company’s website at www.silverquest.ca.
The 2010 geochemical sampling program was conducted as a reconnaissance style program over part of the Capoose project property, located 18 km southwest of the Capoose Deposit (see news release dated January 20, 2011). The Capoose Project is comprised of 97 claims covering approximately 39,607 hectares. See the Company’s news release dated March 2, 2011 for the updated NI 43-101 Indicated and Inferred mineral resource estimate for the Capoose Deposit. Sampling was completed in a grid orientation covering an area of 128 square km. A total of 826 soil samples were collected at 200 m intervals along lines spaced 500 m apart.
Gold concentrations in the 826 soil samples range from zero to 61 ppb gold, with 32 soils containing greater than 15 ppb gold (95th percentile). Using the 95th percentile value a 1.2 km by 0.5 km gold-in-soil anomaly has been identified with values ranging from 15 to 45 ppb gold. Further soil sampling is planned to better define this anomaly during the 2011 field season. Prospecting and geochemical rock sampling, followed by a diamond drill program, are also being planned for this area to test the mineralized bedrock source of the gold-in-soil anomaly.
Geochemical analysis of the soils and rocks was conducted by Stewart Group Global (Eco Tech Laboratory Ltd.) in Kamloops, British Columbia, an International Standard ISO 9001:2000-certified laboratory. The samples were analyzed using a 28-element ICPMS package, plus a fire assay geochemical analysis with an AA finish for gold.
David Pawliuk, P. Geo., Vice-President Exploration for Silver Quest is the Qualified Person, as defined by NI 43-101, for the Capoose Project and has reviewed the technical information in this release.
Image is from Silver Quest Resources.
