/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
CALGARY, Sept. 10 /CNW/ - CMQ Resources Inc. (TSXV: NV) ("CMQ") is
pleased to report drill results for the Red Canyon sediment-hosted gold
project in Eureka County, Nevada. In June 2009, Montezuma Mines Inc.
("Montezuma"), a wholly owned subsidiary of CMQ, completed 2,295 ft (700 m) of
reverse-circulation drilling in three vertical holes at the Ice Prospect
Montezuma's drilling confirms that a Carlin-style alteration system is
present beneath barren volcanic rocks. The three vertical holes (MR09-01, -02
and -03) evaluated an area to the northeast of Ice. This was a previously
untested area where favorable carbonate host rocks were projected to exist
under younger volcanic rock cover. The holes were located 850 ft to 1,445 ft
(260 m to 440 m) northeast of drill hole KR-001, which intersected 95 ft of
0.117 oz Au/t from 20 to 115 ft (29.0 m of 4.012 g Au/t from 6.1 to 35.1m).
Assaying and geologic logging of the three holes provided the following
- Each hole intersected typical Carlin-style alteration including
decalcification, silicification, and oxidation of the targeted
- Gold values did not exceed 0.010 oz Au/t (0.343 g Au/t).
- Elevated levels of arsenic, mercury, antimony and thallium (all
geochemical indicator elements in Carlin-style gold systems) were
associated with the alteration package.
Although significant gold mineralization was not intersected in this
phase of drilling, geologists from Montezuma and Miranda Gold Corp.
(Montezuma's Exploration Agreement partner) are encouraged by the strength of
the alteration seen in the target horizon. Exploration potential to expand Ice
remains open to the northeast along 3,600 ft (1,100 m) of strike, and to the
southeast for 7,600 ft (2,320 m) along a plunging syncline.
Montezuma and Miranda recently reviewed results of the geologic mapping,
soil sampling, and geophysical data collected by Montezuma over the past
eleven months. This review resulted in a new exploration model that will test
for gold mineralization within plunging folds developed in the McColley Canyon
Formation. A minimum of eight unique target areas were identified for
additional field work and drilling. A number of these targets will be tested
by the second phase of drilling.
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 an
erosional "window" that exposes brecciated, oxidized and silicified
lower-plate carbonate rocks that are age equivalent to the rocks hosting the
Cortez Hills gold deposit (+12 million ounces).
Past exploration at Ice focused on gold-bearing and altered surface
exposures of McColley Canyon Formation limestone. In plan, five drill holes
roughly outlined a 160 ft by 755 ft (50m by 230m) area of gold mineralization;
however, past drilling did not step out to test open ended extensions to the
northeast and southeast.
All drill samples were collected with a reverse circulation drill using 5
ft (1.52 m) sample intervals. Samples were assayed by ALS Chemex Laboratories,
Inc. of Sparks, Nevada. Gold results were determined using standard fire assay
techniques on a 30-gram sample pulp with an atomic absorption finish.
Montezuma QC/QA included the insertion of standards and blanks on a regular
basis, check assays on select samples, and the collection of duplicate
On June 29th, 2009, CMQ announced that its secured lender under the
Funding Agreement agreed to extend the maturity of the Funding Agreement to
October 30, 2009. The extension was implemented to allow CMQ additional time
to complete its current drilling program and for CMQ to further assess its
sources of additional financing. This assessment remains ongoing. The secured
lender has now advanced the entire CDN$1,000,000 facility available.
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.
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.
This news release may contain information about adjacent properties on
which we have no right to explore or mine. We advise U.S. investors that the
SEC's mining guidelines strictly prohibit information of this type in
documents filed with the SEC. U.S. investors are cautioned that mineral
deposits on adjacent properties are not indicative of mineral deposits on our
properties. This news release may contain forward-looking statements including
but not limited to comments regarding the timing and content of upcoming work
programs, geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address future
events and conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently anticipated in such
For further information:
For further information: John Hogg, Chief Executive Officer, CMQ
Resources Inc., Tel: (775) 778-3693, E-mail email@example.com