CALGARY, Oct. 20 /CNW/ - CMQ Resources Inc. (TSXV: NV) ("CMQ") is pleased to announce that it has commenced diamond core drilling at Red Canyon, a sediment-hosted gold project in Eureka County, Nevada. A 1,300 ft (~400 m) drilling program is anticipated in three core holes at the Ice Prospect ("Ice").
Two core holes at Ice will provide high quality samples for: verification of historic drill assay results near KR-001, a reverse-circulation drill hole with 95 ft of 0.117 oz Au/t from 20 to 115 ft (29.0m of 4.012 g Au/t from 6.1 to 35.1 m); and direct observation of alteration, structure and lithologic patterns in the gold bearing host rocks. All previous drilling has been reverse circulation and it is anticipated that core information will guide the understanding of gold mineralization controls and enhance the exploration model.
One vertical core hole will be drilled 1,445 ft (440m) east of KR-001 to test the McColley Canyon Formation below surface alteration and a gold / arsenic soil anomaly.
The Red Canyon project includes 237 unpatented lode mining claims (7.7 square miles / 19.8 square kilometers) on the Battle Mountain-Eureka Trend and adjoins U.S. Gold's Tonkin Springs property to the west. The project covers a window that exposes oxidized and silicified lower-plate carbonate rocks over a three square mile area (7.8 sq. km.). Miranda Gold Corp. is CMQ's joint venture partner on the Red Canyon project.
CMQ currently has 6,534,670 Common Shares issued and outstanding. CMQ's website is located at www.cmqresources.com
John Hogg, CEO, CMQ Resources Inc., is the qualified person, as defined by National Instrument 43-101, who has reviewed and verified the data disclosed in this press release.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws regarding the drilling and potential of the Red Canyon Property. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain. There can be no assurance that the plans, intentions or expectations upon which forward-looking statements are based will in fact be realized. Forward-looking statements are based on management's current beliefs as well as assumptions made by, and information currently available to, management. Though management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. The forward-looking statements contained in this press release are made as of the date hereof and CMQ does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law.
SOURCE CMQ Resources Inc.
For further information: For further information: John Hogg, Chief Executive Officer, CMQ Resources Inc., Tel: (775) 778-3693, E-mail email@example.com