Exploration Update on Silver Quest's BC Programs
August 30 2011 - 8:00AM
Marketwired
Silver Quest Resources (TSX VENTURE: SQI) ("Silver Quest" or "the
Company") is pleased to provide an update for the 2011 exploration
activities on its programs located in the Nechako Plateau region of
central British Columbia. For additional information, please visit
the Company's website www.silverquest.ca.
3Ts Project
The 3Ts Project covers an epithermal quartz-carbonate vein
system within which more than 12 individual mineralized veins,
ranging up to 650 metres in strike length and up to 15 metres in
true width, have been identified to date. The 3Ts Project is
located approximately 120 kilometres southwest of Vanderhoof and
consists of ten mineral claims covering approximately 3,164
hectares.
A total of 1,645 metres of diamond drilling has been completed
in ten holes with assay results pending.
Three of these holes were drilled in the Ted Vein area. The best
hole from previous drilling (by Phelps Dodge) on the Ted Vein
intersected 8.88 g/t gold and 393.6 g/t silver across a true width
of 15.4 metres. The remaining seven holes were drilled in the area
between the Mint Vein and the Ringer Target. Previous diamond drill
holes on the Mint Vein structure intersected up to 8.08 g/t gold
and 80.4 g/t silver across 2.0 metres (see news release dated April
28, 2003). Previous results from the Ringer Zone included eight
samples collected from boulders which returned an average of 19 g/t
gold and 140 g/t silver (see news release dated September 24,
2003). Six new mineralized veins, ranging from 4 to 117 centimetres
wide, were intersected in the latest seven drill holes.
Mineralized quartz-carbonate vein boulders were discovered
within the 3Ts property early in the 2011 field season (see news
release dated July 26, 2011), and has led to the discovery of at
least four new quartz-carbonate veins in outcrop. The Company is
continuing with additional prospecting, with follow up drilling
being contemplated.
Capoose Project
An airborne (helicopter) geophysical survey of the Capoose
Project area has been completed by Aeroquest International Ltd. of
Mississauga, Ontario. Approximately 3,350 line-kilometres were
surveyed; the Company is awaiting final, processed survey results
from Aeroquest.
A Titan 24 induced polarization (IP) survey has been completed
over the Capoose Deposit area by Quantec Geoscience Ltd. of
Toronto, Ontario. Quantec surveyed six lines spaced 200 metres
apart, in an attempt to determine the electrical characteristics of
the deposit at greater depth than can be achieved by a conventional
IP survey. Chargeability anomalies resulting from the Titan survey
will be drill-tested during the fall.
Reconnaissance geochemical till sampling has been carried out
across the Project area with additional geochemical soil sampling
to better-define and extend a gold-in-soil anomaly, 0.5 kilometres
by 1.2 kilometres, in the Rusty Creek area, that was identified
during 2010 exploration (see news release dated April 5, 2011).
Diamond drilling is in progress at the Project to complete the
planned 6,000 metre program. Approximately 3,000 metres has been
drilled to date in 11 holes located in the Capoose Deposit area. An
additional 474 metres of diamond drilling has been completed in two
holes at the Fawn area, located 9 kilometres to the south. The Fawn
holes tested a silver- and arsenic-in-soil geochemical anomaly
overlying an electromagnetic conductor.
Sample analysis and assaying is being conducted by SGS Canada
Inc., Vancouver, BC. Assay results will be released by the Company
as soon as they are available.
David Pawliuk, P.Geo., Vice President Exploration for Silver
Quest is the Qualified Person, as defined by National Instrument
43-101, for the 3Ts and the Capoose projects and supervised the
preparation of the technical information in this release.
SILVER QUEST RESOURCES LTD.
Randy Turner, President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Silver Quest Resources Investor Relations 604-687-3959
604-687-1448 (FAX) info@silverquest.ca www.silverquest.ca
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