VANCOUVER, Sept. 22, 2011 /CNW/ - Q-Gold Resources Ltd. (the "Company"
or "Q-Gold") (TSX VENTURE: QGR) (http://www.qgoldresources.com) announced today that it has completed the first 15 diamond drill holes
into the McKenzie Gray gold/ silver deposit in its Phase III program
for the Company's 2009 discovery near Mine Centre Ontario. The first
batch of 147 samples has been sent to TSL Laboratories in Saskatoon,
Saskatchewan for assay. Assay results will be reported when received.
After a rig change-out at the driller's request, additional drilling
will resume early next week to initiate two deep (300+ metre) holes.
These will attempt to establish the presence at depth of the gold/
silver mineralized zone, which is presently "open" at a depth of 150 m.
The deposit consists of a 10-25 m wide (32.8 - 82.0 feet), steeply
dipping alteration/ foliation envelope extending over a known strike
length of 150 metres and containing a mineralized vein system
consisting of two veins. The first vein, referred to as the 'McKenzie
Gray Vein', contains gold, sphalerite (zinc sulfide) and silver
(argentite) along with minor galena and chalcopyrite; the second vein,
currently referred to as the 'Main Vein', consists of quartz-rich zones
ranging, on average, from 2 to 6 metres (true width) and containing
disseminated silver (argentite) along with chalcopyrite (copper iron
sulfide) and pyrite (iron sulfide). The mineralized vein system and
accompanying alteration/ foliation envelope extends from surface to at
least 150 m (492 ft.) in depth, where it has been intersected by
Q-Gold's drill holes.
The current drilling program is also attempting to establish the
mineralized zone to the northwest and southeast by drilling a series of
3 "fan holes", each drilled from one location.
Depending on current assay results obtained at McKenzie Gray, additional
drilling at Mine Centre will be conducted this Fall, to further
delineate the deposit. The program will also drill additional holes
into the gold-bearing "Bonanza" and in to the "Vowel" veins in the
Foley Gold Mine Complex. The Bonanza vein produced 5,267 "officially
recorded" ounces of gold from surface to 200 feet underground,
principally in the 1890's. The Vowel Main vein extends over a distance
of 116 metres and yielded weighted average gold values of 6.19 grams
per tonne (g/t), [0.181 ounces per ton (opt)] over an average width of
one metre from 10 surface trenches. As an example, the weighted average
grade from Trench "V-25" returned gold assays of 15.2 g/t [0.44 opt]
and 21.69 g/t [0.633 opt] across 0.70 metres.
Q-Gold President Robert Gardner stated "The first 30 holes drilled by
Q-Gold at McKenzie Gray have all intersected the mineralized zone. I
hope pending assay results confirm the continuance of this trend."
The Company also announced the resignation of John Campbell as Director
and Chief Executive Officer of Q-Gold to pursue other business
opportunities, effective September 15, 2011.
The technical content of this release was reviewed and approved by Delio
Tortosa M.Sc., P.Eng., a Qualified Person as defined by National
About Q-Gold Resources Ltd.
Q-Gold is a Canadian-based mineral exploration company currently
exploring for precious and base metals on its Alaska, Ontario and
"Historical reports" referred to in this release have been examined but
not verified by a "Qualified Person" under the requirements of NI
43-101 and therefore should not be relied on for any purpose.
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 Q-Gold Resources Ltd.
For further information:
J. Bruce Carruthers II, Chairman at 1-888-779-0166 or firstname.lastname@example.org, Website: http://www.qgoldresources.com