TORONTO, July 16, 2012 /CNW/ - Northquest Ltd. (TSX.V-NQ) (FWB-N3Q)
("Northquest" or "the Company") announces that it has commenced the
second phase of exploratory drilling at the Pistol Bay Project,
Nunavut, Canada. The project consists of 575 square kilometres of
mineral rights covering a 35 kilometre strike length of prospective
stratigraphy containing numerous gold occurrences. Drilling will be
focussed on three of the known occurrences.
This phase of drilling will consist of at least 2,500 metres of diamond
drilling. The results of this drilling program will be released upon
receipt and verification of the drilling assays.
Northquest is a mineral exploration company focused on the acquisition,
exploration and development of properties for the mining of gold and
other minerals. Northquest has 25,315,823 shares outstanding
(38,345,035 on a fully diluted basis). For further information please
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.
SOURCE Northquest Ltd.
For further information:
Dr. Jon North
President and Chief Executive Officer
Tel. (416) 306-0202
Tel. (416) 306-0486