VANCOUVER, BC, March 22, 2022 /CNW/ - QuestEx Gold &
Copper Ltd. (TSX-V: QEX) (OTCQX: QEXGF) ("QuestEx"
or the "Company"), is pleased to announce the
final round of 2021 drill results from the Inel gold prospect on
its 100% owned, 312 square kilometre ("km"), road accessible
KSP property in British Columbia's
prolific Golden Triangle district.
Joe Mullin, QuestEx CEO
comments: "Our 2021 drill program has continued to yield
impressive results at the Inel target on the KSP property. These
drill results from the final holes of our program combined with the
earlier drill results from this and past seasons will contribute to
an inaugural resource estimate on the Inel gold prospect later this
Spring."
Results from the last 7 of 13 drill holes completed in 2021 at
Inel (Figure 1) are infill resource expansion holes targeting
higher gold ("Au") grades to the southeast on Inel
Ridge, and peripheral expansion drilling to the north near the
AK Adit. Final assays are now validated for inclusion within
an anticipated inaugural National Instrument ("NI") 43-101
Mineral Resource Estimate that QuestEx expects to announce in
Spring 2022. Inel Ridge is one of several domains characterized by
locally high-grade gold, silver ("Ag") and zinc
("Zn") within broad intervals of repeating,
quartz-carbonate-sulphide vein sets that occur as shear and
extension arrays and have the potential to occupy large rock
volumes. Drilling in 2021 at Inel Ridge consisted of 5 holes from 3
pads covering 350 metres ("m") along the ridge crest (Figure
2) to test a lower sedimentary sequence in the upright eastern limb
of the Inel Basin Synform. Based on the results from 2021 drilling,
drill intersections in 2017 and 2018, structural mapping at surface
and 3D geological modelling, a significant sediment-hosted
mineralized corridor is now recognized beneath Inel Ridge within
the larger Inel prospect area that has seen limited drill
testing.
Highlights of drilling on Inel Ridge include:
- INDDH21-162 was steeply inclined to the east from the west side
of Inel Ridge (Figure 3) and intersected 90.0m of 1.92 g/t Au including
1.50 m of 23.70 g/t Au and
5.5 m of 4.95 g/t Au (Table
1).
- INDDH21-160 was inclined to the south from the same pad as
INDDH21-162 and intersected 2.07 m
of 9.52 g/t Au within a 30.50 m
interval of 0.81 g/t Au.
- INDDH21-161 tested an area to the southwest from 160/162 and
intersected 72.0 m of 0.45 g/t Au,
7.0 g/t Ag and 0.53% Zn from 142.0
m.
- INDDH21-163 located 160 m north
of 160/161/162 and steeply inclined to the west intersected
1.75 m of 6.26 g/t Au, 40.5 g/t Ag
and 1.20% copper ("Cu") in a quartz-pyrite-chalcopyrite shear
vein from 76.65 m and 3.0 m of 2.47 g/t Au, 34.7 g/t Ag, 2.11% Zn
from 239.0 m.
Table 1 Highlights of 2021 Drilling at Inel Ridge,
Inel Gold Prospect, KSP Property
Drill
Hole
|
From
|
To
|
Length
|
Au
|
Ag
|
Zn
|
Cu
|
AuEq*
|
|
m
|
m
|
m
|
g/t
|
g/t
|
%
|
%
|
g/t
|
INDDH21-160
|
241.00
|
271.50
|
30.50
|
0.81
|
4.7
|
0.050
|
0.093
|
1.06
|
including
|
252.00
|
254.07
|
2.07
|
9.52
|
5.2
|
0.026
|
0.070
|
9.72
|
INDDH21-161
|
142.00
|
214.00
|
72.00
|
0.45
|
7.0
|
0.528
|
0.047
|
0.94
|
including
|
208.77
|
209.67
|
0.90
|
2.46
|
46.3
|
0.592
|
0.054
|
3.53
|
INDDH21-162
|
127.00
|
217.00
|
90.00
|
1.92
|
6.1
|
0.116
|
0.039
|
2.14
|
including
|
174.00
|
175.50
|
1.50
|
23.70
|
13.8
|
0.183
|
0.119
|
24.19
|
INDDH21-163
|
76.65
|
78.40
|
1.75
|
6.26
|
40.5
|
0.041
|
1.197
|
8.81
|
and
|
232.00
|
253.00
|
21.00
|
0.48
|
9.0
|
1.138
|
0.045
|
1.37
|
including
|
239.00
|
242.00
|
3.00
|
2.47
|
34.7
|
2.107
|
0.168
|
4.49
|
Inel Ridge
The ridge crest at Inel currently defines
the south-eastern limit of Inel's global resource target area and
has been tested historically with wide-spaced (50 to 100 m) drill holes and characterized by local
high gold grades within broad intervals of elevated Au, Ag, Zn +/-
Cu, lead ("Pb") and arsenic ("As"). Inel Ridge tracks
the footwall of the steeply east dipping, north-northeast trending
Big Rock Deformation Zone ("BRDZ"), an 8 kilometre
("km") long by up to 100 m
wide brittle-ductile shear zone with an inferred dextral offset of
approximately 600 m. Mineralization
occurs as sulphide-rich quartz-carbonate extensional vein arrays
(Figure 4) which, on Inel Ridge, are best developed within altered
siliciclastic sediments below a mafic volcanic fragmental unit on
the upright eastern limb of the north-northeast plunging, westerly
verging Inel Synform. The strike of the BRDZ and the plunge
direction of the Inel Synform are near parallel and drilling in
2021 was in a structurally complex area near the confluence of
these two structural elements. A late set of gold bearing
quartz-sericite-pyrite-chalcopyrite shear veins is recognized.
AK Adit North
Diamond drill hole INDDH21-168 was
designed to test the northern limit of the Inel resource area
immediately north of the AK Adit. The hole deviated slightly north
into an interpreted west-northwest oriented faulted zone of
predominantly siltstone cut by numerous monzonite and monzodiorite
dykes. A 1.07 m interval of
quartz-carbonate-sulphide veining at 191.42
m assayed 4.22 g/t Au, 11.2 g/t Ag and 0.72% Zn with
increasing arsenic (As) geochemistry at the bottom of the hole
suggesting untested exploration potential at depth.
Based on surface mapping and drilling to date, thrust faults and
analogous property scale fold axial planes are sub-parallel to the
BRDZ, all of which exhibit spatial association to mineralization
and are important conduits for mineralizing fluids. As well, a
component of stratigraphic control to mineralization is
recognized.
Table 2 Select Highlights of Historical Drill Results at Inel
Ridge, Inel Gold Prospect, KSP Property
Drill
Hole
|
From
|
To
|
Length
|
Au
|
Ag
|
Zn
|
Cu
|
AuEq*
|
|
m
|
m
|
m
|
g/t
|
g/t
|
%
|
%
|
g/t
|
INDDH18-125
|
171.00
|
221.00
|
50.00
|
2.32
|
6.2
|
0.094
|
0.050
|
2.54
|
including
|
199.00
|
211.00
|
12.00
|
5.71
|
9.6
|
0.098
|
0.121
|
6.10
|
INDDH17-055
|
102.00
|
175.00
|
73.00
|
1.71
|
5.4
|
0.300
|
0.024
|
2.00
|
including
|
104.25
|
111.00
|
6.75
|
4.61
|
14.0
|
1.476
|
0.045
|
5.77
|
including
|
135.00
|
143.00
|
8.00
|
4.32
|
4.5
|
0.133
|
0.030
|
4.51
|
and
|
190.50
|
219.00
|
28.50
|
5.03
|
13.8
|
0.289
|
0.024
|
5.43
|
including
|
191.85
|
194.50
|
2.65
|
31.59
|
91.3
|
1.275
|
0.018
|
33.62
|
including
|
209.00
|
217.00
|
8.00
|
5.00
|
13.6
|
0.367
|
0.038
|
5.47
|
Exploration Opportunities for Resource Expansion at Inel
Ridge
- The significant drill intersection in INDDH21-162 at
90 m of 1.92 g/t Au, modelled in 3D,
is 70 to 100 m from similar lengths
and grades intersected in historic holes INDDH17-055 and INDD18-125
and is open to the north-northeast with an inferred shallow to
moderate plunge under Inel Ridge or roughly parallel to the Inel
Synform.
- The 3.0 m sediment-hosted
intersection grading 2.47 g/t Au, 34.7 g/t Ag, 2.41% Zn at depth in
INDDH21-163 (Figure 4) occurs within a broad interval of elevated
Zn-As (up to 0.53% As) and is over 100
m from the trace of the nearest drill hole in an area
largely untested by drilling.
- INDDH21-159 successfully tested the footwall of the BRDZ to the
east of Inel Ridge intersecting elevated Zn in the bottom
37 m of the hole including an
intersection of 1.90 m of 3.67 g/t
Au, 72.9 g/t Ag, 1.16% Zn at 226.30
m.
Table 3: Full Table of Significant Results from INDDH21-159,
160, 161, 162, 163, 168 & 169
Drill
Hole
|
From
|
To
|
Length
|
Au
|
Ag
|
Zn
|
Cu
|
AuEq*
|
|
m
|
m
|
m
|
g/t
|
g/t
|
%
|
%
|
g/t
|
INDDH21-159
|
108.00
|
110.00
|
2.00
|
1.13
|
1.1
|
1.160
|
0.019
|
1.88
|
and
|
226.30
|
228.20
|
1.90
|
3.67
|
72.9
|
1.344
|
0.088
|
5.61
|
INDDH21-160
|
131.00
|
133.00
|
2.00
|
2.78
|
3.4
|
0.378
|
0.018
|
3.09
|
and
|
241.00
|
271.50
|
30.50
|
0.81
|
4.7
|
0.050
|
0.093
|
1.06
|
including
|
252.00
|
254.07
|
2.07
|
9.52
|
5.2
|
0.026
|
0.070
|
9.72
|
INDDH21-161
|
36.00
|
50.00
|
14.00
|
1.05
|
10.1
|
0.721
|
0.072
|
1.74
|
including
|
45.75
|
48.00
|
2.25
|
1.22
|
18.8
|
1.020
|
0.097
|
2.25
|
and
|
142.00
|
214.00
|
72.00
|
0.45
|
7.0
|
0.528
|
0.047
|
0.94
|
including
|
191.00
|
191.83
|
0.83
|
1.53
|
35.9
|
4.810
|
0.255
|
5.36
|
including
|
203.00
|
205.00
|
2.00
|
1.38
|
17.2
|
1.140
|
0.030
|
2.35
|
including
|
208.77
|
209.67
|
0.90
|
2.46
|
46.3
|
0.592
|
0.054
|
3.53
|
INDDH21-162
|
8.40
|
11.50
|
3.10
|
2.20
|
18.9
|
0.314
|
0.064
|
2.75
|
and
|
127.00
|
217.00
|
90.00
|
1.92
|
6.1
|
0.116
|
0.039
|
2.14
|
including
|
174.00
|
175.50
|
1.50
|
23.70
|
13.8
|
0.183
|
0.119
|
24.19
|
including
|
209.00
|
214.50
|
5.50
|
4.95
|
3.9
|
0.010
|
0.069
|
5.12
|
INDDH21-163
|
76.65
|
78.40
|
1.75
|
6.26
|
40.5
|
0.041
|
1.197
|
8.81
|
and
|
232.00
|
253.00
|
21.00
|
0.48
|
9.0
|
1.138
|
0.045
|
1.37
|
including
|
239.00
|
242.00
|
3.00
|
2.47
|
34.7
|
2.107
|
0.168
|
4.49
|
INDDH21-168
|
191.42
|
192.49
|
1.07
|
4.22
|
11.2
|
0.723
|
0.022
|
4.85
|
INDDH21-169
|
NSV
|
2021 Inel Drill Program
QuestEx's 2021 Inel drill
program included 2,418 m of diamond
drilling in thirteen drill holes. The program was resource
oriented, comprising mainly infill, step out and validation
drilling to support an anticipated inaugural NI 43-101 Mineral
Resource Estimate that is expected to be announced in Spring
2022.
Table 4 2021 Inel (KSP Property) Drill Hole Location and
Orientation Information
Hole-ID
|
Easting
|
Northing
|
Elevation
|
Length
(m)
|
Azimuth
|
Inclination
|
INDDH21-157
|
380164
|
6275946
|
1686.8
|
250.30
|
269.35
|
-69.87
|
INDDH21-158
|
379918
|
6275498
|
1491.8
|
104.80
|
303.66
|
-73.95
|
INDDH21-159
|
380488
|
6275661
|
1894.5
|
241.70
|
90.61
|
-59.68
|
INDDH21-160
|
380450
|
6275600
|
1865.8
|
271.50
|
168.09
|
-58.58
|
INDDH21-161
|
380450
|
6275600
|
1865.8
|
301.00
|
184.17
|
-54.57
|
INDDH21-162
|
380450
|
6275600
|
1865.8
|
250.50
|
124.42
|
-71.36
|
INDDH21-163
|
380529
|
6275749
|
1916.4
|
270.50
|
270.50
|
-78.50
|
INDDH21-164
|
380315
|
6276108
|
1769.5
|
102.50
|
297.32
|
-77.38
|
INDDH21-165
|
380317
|
6276109
|
1770.0
|
131.50
|
341.03
|
-61.99
|
INDDH21-166
|
380319
|
6276108
|
1770.1
|
113.50
|
63.42
|
-68.83
|
INDDH21-167
|
380317
|
6276105
|
1770.2
|
134.00
|
197.50
|
-65.35
|
INDDH21-168
|
380180
|
6276057
|
1698.5
|
230.00
|
270.21
|
-55.55
|
INDDH21-169
|
380178
|
6275861
|
1696.1
|
16.06
|
258.00
|
-67.00
|
|
|
|
|
|
|
|
|
Quality Control and Assurance ("QA/QC")
Drill core
samples for the KSP 2021 exploration program followed chain of
custody between collection and delivery to a Bureau Veritas
("BV") laboratory in Vancouver,
BC. The samples were packed in zip tied polyurethane bags
and then in sealed rice-bags before being delivered directly from
northern BC to the laboratory via Bandstra Transportation Systems.
Drill core samples were NQ diameter and ranged between 1 and
2 m length. They were cut in
half at QuestEx's core logging facility at the road accessible
McLymont Facility on the northern side of the KSP property. Drill
core samples were prepared for analysis according to BV method
PRP-70-250: each sample was crushed to greater than 70% passing a 2
millimetre sieve and a 250 g split was pulverized to greater than
85% passing a 75 micron sieve. Gold was tested by fire assay with
atomic absorption finish on a 30 g nominal sample (method FA430-Au)
and gravimetric testing procedures were applied to samples greater
than 10 g/t Au (method FA530-Au). An additional 45 elements were
tested by ICP-ES/MS using a four-acid digestion (method MA200).
Samples with Cu, Zn, and lead values that exceeded concentrations
of 10,000 ppm, or silver values in excess of 200 ppm, were retested
using ore-grade analyses (method MA404). QA/QC is maintained at the
lab through rigorous use of internal standards, blanks and
duplicates. An additional QA/QC program was administered by QuestEx
through the use of duplicates and blind insertion of blanks and
certified reference standards into sample batches. If a QA/QC
sample returns an unacceptable value an investigation into the
results is triggered and when deemed necessary, the samples that
were tested in the batch with the failed QA/QC sample are
re-tested.
Notes:
* Gold equivalent ("AuEq") is used for
illustrative purposes, to express the combined value of gold,
silver, copper and zinc as a percentage of gold. Calculations are
uncut and no allowances have been made for recovery losses that
would occur in a mining scenario. AuEq is calculated on the basis
of US$1,800 per troy ounce of Au,
US$24.50 per troy ounce of Ag,
US$4.35 per pound of Cu and
US$1.60 per pound of Zn.
AuEq = ($1,800 X Au [g/t] / 31.10
+ $24.50 X Ag [g/t] / 31.10) +
$4.35 X Cu [%] / 100 X 2204.65 +
$1.60 X Zn [%] / 100 X 2204.64) /
$1800 X 31.10
Qualified Person
David
Fleming, B.Sc., P.Geo., QuestEx Consultant, a Qualified
Person within the meaning of NI 43-101, has reviewed and approved
the technical information in this news release.
We seek safe harbour.
About QuestEx
QuestEx Gold & Copper Ltd. is
exploring for gold and copper with a focus on the Golden Triangle
and Toodoggone areas of British Columbia,
Canada. It has a 100% ownership interest in one of the
largest portfolios of mineral tenures in British Columbia's metal-rich Golden Triangle.
The portfolio includes the 312 square km KSP property, which is
surrounded by some of the most important past and current mining
and development projects in British
Columbia (e.g. Eskay Creek,
Snip, Brucejack, KSM, Johnny
Mountain). In 2022, QuestEx intends to release a NI 43-101
Mineral Resource Estimate for the Inel gold system, located on the
KSP property. In the northern corner of the Golden Triangle in the
Red Chris mining district, QuestEx's portfolio includes the Castle
property, a porphyry copper-gold project located adjacent to
Newmont's Tatogga property, and along trend of the Saddle North
porphyry copper-gold deposit (more than10 million ounces gold, in
all categories). Other properties include North ROK, Coyote, and
Kingpin in the Golden Triangle, Sofia in the Toodoggone district, and Heart
Peaks and Hit in other strategic districts within British Columbia. These assets are being
advanced by a newly assembled technical and management team with
experience in exploration, permitting and discovery.
ON BEHALF OF THE BOARD OF DIRECTORS OF QUESTEX GOLD &
COPPER LTD.
"Joseph Mullin"
Joseph Mullin
Chief Executive Officer and Director
Neither the TSX Venture Exchange ("TSX-V") nor its
Regulation Services Provider (as that term is defined in the
policies of TSX-V) accepts responsibility for the adequacy or
accuracy of this release.
NR 22-6
Cautionary Note Regarding Forward-Looking
Statements
All statements, trend analysis and other information
contained in this press release about anticipated future events or
results constitute forward-looking statements. Forward-looking
statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "believe", "plan", "estimate",
"expect" and "intend" and statements that an event or result "may",
"will", "should", "could" or "might" occur or be achieved and other
similar expressions. All statements, other than statements of
historical fact, included herein, are forward-looking statements.
Although the Company believes that the expectations reflected in
such forward-looking statements and/or information are reasonable,
undue reliance should not be placed on forward-looking statements
since the Company can give no assurance that such expectations will
prove to be correct. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in
such forward-looking statements, including the risks, uncertainties
and other factors identified in the Company's periodic filings with
Canadian securities regulators as well as the risk that the ongoing
COVID-19 pandemic may have on the Company's business. Important
factors could cause actual results to differ materially from
QuestEx expectations. Forward-looking statements are based on
estimates and opinions of management at the date the statements are
made. QuestEx does not undertake any obligation to update
forward-looking statements except as required by applicable
securities laws. Investors should not place undue reliance on
forward-looking statements.
SOURCE QuestEx Gold & Copper Ltd.