FLAGSTAFF, AZ, Feb. 20, 2013 /CNW/ - Q-Gold Resources Ltd. (the "Company") (TSX VENTURE: QGR) (http://www.qgoldresources.com) announced today that, as requested, it has resubmitted its Plan of Operations to the Forest Service for a permit to drill the Company's "A" anomaly on its "Green Mohave 2" mining claim near Crown King, Arizona. The Company hopes to have all necessary approvals to begin drilling the "A" Anomaly sometime in March.
Based upon a helicopter time domain electromagnetics (VTEM) and magnetics survey flown over the area by Geotech Ltd. (Aurora, Ontario) in late 2011 and a follow-up ground hybrid magnetotellurics ("MT") geophysical survey over the "A" Anomaly last fall, the Company has spotted six exploratory diamond core holes from 2 drill pads. These drill holes will attempt to penetrate the highly conductive zone in the 700 metre long anomaly, which, as indicated in the MT survey, appears to extend from near the surface to a depth of at least 400 metres. Moderate conductivity then extends further down to about the 850 metre level.
The "Green Mohave 2" mining claim contains a 200 metre high ridge, which is parallel to two adjoining ridges, each of which contains an historic silver mine where high-grade silver ore was produced in the 1890-1900 era. These are the Peck and Black Warrior silver mines, both under option to the Company. A "chip sampling" program by the Company across mineralized vein faces in adits and stopes of the Black Warrior Mine (see press release dated January 12, 2012), yielded gold assays of 0.11 to 1.1 oz./ ton. High-grade silver assays ranging from 49.3 to 237.4 oz./ton, as well as significant amounts of zinc, lead and antimony were also encountered. Low silver prices at the turn of the century, combined with two World Wars ended all mine production in the area.
As, according to the geophysics, the "A" Anomaly does not quite reach the surface, it went unnoticed to prospectors in the area until Q-Gold's recent geophysical activities. The MT survey revealed very low resistivities (less than 25 to 30 ohm-metres), indicating conversely high conductivities in the first 400 metres of the indicated tabular body. Combined with the high conductivity characteristic of silver, and the structural similarity to the two adjoining historic silver mines, this suggests that a third silver trend might possibly be uncovered by the drill program.
Twelve other airborne anomalies, the majority of which have been acquired by the Company, await further investigation, principally by ground geophysics and geochemical surveys in the Company's current exploration program at Crown King.
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 and base metals on its Ontario holdings in the historic Gold Camp at Mine Centre, including 5 historic gold mines. In addition, the Corporation holds options on a number of historic gold and silver mines in the historic Arizona gold camp of Crown King.
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.
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