Q-Gold Announces Approval for Arizona Drill Program
Q-Gold Resources Ltd. (the "Company") (TSX VENTURE: QGR) (http://www.qgoldresources.com) is pleased to announce that project approval for the drilling of the Company’s extensive “A” anomaly on its “Green Mohave 2” U.S. Bureau of Land Management (“BLM”) mining claim has been received from the US Forest Service (“USFS”), which administers the claim.
As previously announced (see press release dated February 20, 2013), the "A" anomaly, located in the Southern Bradshaw Mountains of Yavapai County, Arizona, consists of a highly conductive zone 700 metres in strike length on the surface, extending from a depth of approximately 10 to greater than 400 metres.
The anomaly was initially revealed by a GEOTECH airborne (helicopter) VTEM geophysical survey completed in mid-2011 and further confirmed and delineated in the 4th quarter of 2012 in a hybrid magnetotellurics (MT) ground survey of the best VTEM lines.
Pending the presentation and approval of a Reclamation Bond required by the USFS, which is now in progress, the Company’s Arizona subsidiary, Mineral Creek Resources Inc., will receive the drill permit to sink 3 “NQ” diameter diamond drill holes at various depths into the prospective zone from each of 2 drill pads to be constructed. Drilling is expected to commence before year-end.
The “A” anomaly is located on a virtually unexplored ridge in a series of ridges formed by block-faulting of the underlying volcanic meta-sediments. The two adjoining ridges to the southwest contain prolific historic silver mines, which were exploited at the end of the 19th Century, when silver prices were 50 cents per ounce.
The Company holds 12 other BLM mining claims in the area, which in the aggregate contain additional VTEM anomalies, although not as large as the “A” prospect. These claims will be the subject of further ground geophysical and geochemical surveys.
The technical content of this release was reviewed and approved by James C. Hasbrouck, PGp, a “Qualified Person” as defined by National Instrument 43-101.
About Q-Gold Resources Ltd.
Q-Gold is a Canadian-based mineral exploration company currently exploring for precious metals on its Ontario and Arizona prospects.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Q-Gold Resources Ltd.
J. Bruce Carruthers II, 1-928-779-0166
Chairman
info@qgoldresources.com
http://www.qgoldresources.com
