La Quinta Resources Announces Assays of Its Initial Drilling Program at Easter Project
08 Ottobre 2010 - 3:30PM
Marketwired
La Quinta Resources Corporation ("La Quinta" or "The Company") (TSX
VENTURE: LAQ) is pleased to report that it has received assays for
the initial phase of drilling on its Easter Project located in
southeast Nevada. The phase one drilling program conducted during
the summer was a success, as La Quinta proceeds to earn a majority
working interest in the project from Fronteer Development. The
primary intent of the program was to ensure that no exposed
mineralization was overlooked in La Quinta's assessment of the
project. The assay results show gold mineralization in every hole
drilled.
La Quinta drilled 2,290 ft (698 m) of reverse circulation
percussion drilling in 11 drill holes sited in the previously
undrilled outcrop of the Main Vein at Easter. Hole depths ranged
from 200 ft - 225 ft (61-68.6 m). The holes, numbered from #15 on
the west to #5 on the east, were spaced approximately 100 ft (30.5
m) apart. The holes were angled at 35-45 degrees from horizontal.
The reported intercepts are not true thickness. Unexposed faults
were encountered in several holes, with gouge zones ranging from 30
- 100 ft (9.1 - 30.5m) offsetting anticipated mineralization.
Mineralization of the rhyolitic crystal tuff host rock includes
stockwork quartz veining, quartz-adularia veining and pervasive
quartz-adularia replacement of the tuff. These types of alteration
are similar to those found at numerous low sulfidation volcanic
hosted gold - silver deposits in Nevada.
Assays have been received from all the reverse circulation drill
holes. Geochemically anomalous gold, silver +/- arsenic, antimony,
lead, and molybdenum values were encountered in the drill holes.
Gold and silver grades similar to or exceeding that in the average
grade of the indicated resource (see below) included:
Hole no. Depth, ft Depth, m Au, g/t Au, oz/st Ag, g/t Ag, oz/st
RCDH#6 160-165 48.8-50.3 2.2 0.064 12.1 0.35
165-170 50.3-51.8 0.315 0.009 8.4 0.25
170-175 51.8-53.4 0.561 0.016 35.5 1.04
175-180 53.4-54.9 0.291 0.008 16.3 0.48
180-185 54.9-56.4 12.05 0.352 80.8 2.36
185-190 56.4-57.9 6.34 0.185 33.9 0.99
190-195 57.9-59.5 4.1 0.120 21.8 0.64
195-200 59.5-61 0.896 0.026 8.9 0.26
200-205 61-62.5 0.84 0.025 8.2 0.24
RCDH#9 150-155 45.7-47.3 2.83 0.083 8.7 0.25
155-160 47.3-48.8 1.71 0.050 5.6 0.16
RCDH#14 195-200 59.4-61 1.2 0.035 10.1 0.29
CEO Glen Watson said, "Our technical staff reports that these
results confirm the hypothesis that the exposed Easter vein system
is at the upper levels of the precious metals horizon typical to a
low sulfidation epithermal vein model. The scenario is consistent
with management's viewpoint that infill drilling downdip of the
indicated resource should commence as soon as possible."
In addition to drilling, reconnaissance sampling of surface rock
chips from subcrop approximately 0.5 mi (0.8 km) west of RCDH#6
discovered gold and silver mineralization in distinctively colored
quartz veining similar in appearance to that found in drill hole 6
at interval 180-195 ft (54.9-59.5 m). The area, on the western edge
of the West Vein zone, returned 0.105 oz/st gold and 0.61oz/st
silver (3.5 g/t gold and 21 g/t silver). No drilling has been done
on this area previously. La Quinta's technical staff plans
follow-up detailed sampling of this area in addition to infill
drilling planned this Fall for the downdip extension of the
existing indicated resource at the Main Vein.
The information contained in this news release has been
reviewed, approved and deemed relevant by Walter Martin, C.P.G., a
qualified person as defined under National Instrument 43-101.
About La Quinta Resources Corporation
La Quinta is a junior precious metals exploration company
actively seeking mineral opportunities for the benefit of our
stakeholders. Currently the Company is focused on exploring for
gold and silver on its Easter Project and Black Jack properties in
Nevada. The Easter Project is underlain by an epithermal
quartz-adularia vein stockwork system hosted within Tertiary
volcanic rocks of the Caliente Caldron Complex of southeastern
Nevada. Numerous drill programs were conducted over the past 27
years by several operators. The resultant 121 holes and five adits
were used to outline a 43-101 compliant resource of 2.6 million
tons at 1.3 g/t gold (0.038 oz/t) and 14 g/t silver (0.4 oz/t)
within an area of gold mineralization with a strike length of at
least 6,450 feet (1,966 m) and drill-defined widths up to 90 feet
(27.4 m). Significant prior intercepts include up to 0.194 oz. Au /
ton over 90 feet (6.6 g/t over 27.4m true thickness) (including
0.549 oz. Au / ton over 15 feet (18.8 g/t over 4.5m)) and 0.084 oz.
/ ton over 110 feet (including 0.534 oz. Au / ton over 5 feet)
(2.88 g/t over 33.5 m w/internal 18.3 g/t in 1.52 m). The Black
Jack property, an early-stage exploration target in NE Nevada,
consists of old mine workings that contain silver- gold-base metals
veins hosted in Ordovician limestones that overlie nearby Cambrian
shale. No resource has been identified on this property.
On behalf of the board
Glen Watson, CEO and Director
This document includes forward- looking statements. When used in
this document, the words "potential", "plan", "could", "estimate",
"expect", "intend", "may", "should", and similar expressions are
intended to be among the statements that identify forward-looking
statements. Although La Quinta believes that their expectations
reflected in these forward-looking statements are reasonable, such
statements involve risks and uncertainties and no assurance can be
given that actual results will be consistent with these
forward-looking statements.
SEC 12G file#82-35061
Neither 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.
Contacts: La Quinta Resources Corporation 1(604) 803-5229 /
1(604) 684-4653 info@laquintaresources.com
www.laquintaresources.com
Grafico Azioni La Quinta Resources Corporation (TSXV:LAQ)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni La Quinta Resources Corporation (TSXV:LAQ)
Storico
Da Giu 2023 a Giu 2024