QIA

Quia Resources Inc. (TSX VENTURE:QIA) provided today an update on its current
5,000 metre drill program at its 100% owned San Lucas property in Colombia and
an update with respect to its activities over the past quarter. Highlights
include:




--  A total of 807 metres have been completed in four holes, two at the La
    Colina target and two at the La Rueda target 
    
--  Completion of IP survey 
    
--  Completion of additional soil surveys over other areas of interest 
    
--  Completion of camp construction 
    
--  Launch of new website 



Drilling Update

The Phase 1 drilling campaign began June 11th with drill hole SL1102 from
Platform 2. Drilling on hole SL1101 from Platform 1 began June 29th. As of July
19th, 807 metres have been completed in 4 holes. Drill-rig 1 is currently coring
on SL1104 over the La Colina target. Drill-rig 2 is currently setting up on
Platform 3 to test an IP chargeability anomaly between the La Colina and La
Rueda targets.


Yannis Banks, Quia's CEO, said, "The drill program is now well underway and
progressing smoothly. As we await assays, we can say that we are encouraged by
the geology, alteration and mineralization we have been able to observe in the
drill core from the first few holes. The evidence so far is consistent with our
hypothesis that the San Lucas gold belt has excellent potential for disseminated
systems of gold mineralization. We have started shipping core to the lab and are
looking forward to releasing our initial results in approximately the next six
to seven weeks."


SL1101 and SL1104 have been drilled from Platform 1 to test the 2,400 metre long
by up to 500 metre wide La Colina target consisting of the gold in soil anomaly
that is coincident with the contact between gneissic rocks and quartz diorite
porphyry rocks to the east, a strong uranium and thorium anomaly from the
airborne survey, and a strong IP chargeability anomaly.


SL1101 was drilled from the gneissic rocks at an azimuth of 110 degrees and dip
of -55 degrees with the intention to drill into the quartz diorite porphyry.
SL1104 was drilled at the same azimuth with a dip of -70 degrees. Both holes
have intersected quartz feldspar porphyry dykes with zones of disseminated
pyrite mineralization. SL1104 has intersected a hydrothermal breccia with
gneissic fragments and disseminated pyrite mineralization. Pyrite mineralization
is also present in zones within the quartz diorite porphyry rocks.


SL1102 and SL1103 were drilled from Platform 2 to test the 3,000 metre long by
up to 100 metre wide La Rueda target consisting of the gold in soil anomaly that
is coincident with a granodiriote instrusive body and a trend over which several
small scale mines are located. SL1102 was drilled at an azimuth of 110 degrees
and a dip of -55 degrees. SL1103 was drilled at an azimuth of 155 degrees and a
dip of -55 degrees.


SL1102 intersected zones of disseminated pyrite within quartz diorite and also
intersected a zone of marcasite in fractures and veinlets. SL1103 also
intersected zones of disseminated pyrite mineralization within quartz diorite.


Drill-rig 2 was moved to platform 3 to test a strong chargeability anomaly.
Based on the IP profiles, this chargeability target appears to be a 500 to 650 m
long structure trending 70 degrees between the La Colina and La Rueda targets.
With both drill-rigs now fully operational the Company expects increased
production rates for the remainder of the drill program.


Corporate Update

Over the past quarter, the company's field activities have included completion
of additional soil sampling over areas outside the current focus area targeting
structural features and geophysical anomalies identified through its airborne
survey and satellite image structural interpretation. The Company also completed
a 10 line kilometre Induced polarization ("IP") and ground magnetic survey as
well as the construction of a new camp.


The soil sampling has identified several additional anomalies for future
detailed follow up while the IP and ground magnetic survey was conducted over
the La Colina and La Rueda target areas to identify chargeability anomalies
within the target areas and to provide additional structural information to
further refine drill targets. During May and June, the Company completed the
construction of a new camp for the drilling campaign.


In addition to the Company's field activities, the company has just launched a
new re-designed website to provide expanded content to shareholders and the
public.


Yannis Banks, Quia's CEO, commented, "It's been a productive quarter for the
Company as we completed several milestones which collectively marked the
transition from surface exploration to the first drilling campaign. We expect
the next quarter to again mark an important step as the Company plans to release
its first drill results which will be another major milestone in the development
of the San Lucas property and the San Lucas gold belt in Colombia."


About Quia Resources Inc.

Quia Resources is a gold exploration Company focused in Colombia and its
100%-owned San Lucas property in the San Lucas gold belt. The San Lucas gold
belt is among the least explored and most prospective gold belts in Colombia.
Quia is an early-mover into this belt and has established a key property
position and a strong base of technical knowledge in the area.


Iain Kelso, P. Geo., is the Qualified Person for the information contained in
this press release and is a Qualified Person within the terms defined by
National Instrument 43-101.


Forward-Looking Statements

This press release contains or refers to forward-looking information, including
statements regarding exploration results, potential mineralization, exploration
plans and timing of the commencement of drilling, and is based on current
expectations that involve a number of business risks and uncertainties. Factors
that could cause actual results to differ materially from any forward-looking
statement include, but are not limited to, delays in obtaining or failures to
obtain required governmental, environmental or other project approvals,
political risks, uncertainties relating to the availability and costs of
financing needed in the future, changes in equity markets, inflation, changes in
exchange rates, fluctuations in commodity prices, delays in the development of
projects and the other risks involved in the mineral exploration and development
industry. Forward-looking statements are subject to significant risks and
uncertainties, and other factors that could cause actual results to differ
materially from expected results. Readers should not place undue reliance on
forward-looking statements. These forward-looking statements are made as of the
date hereof and the Company assumes no responsibility to update them or revise
them to reflect new events or circumstances other than as required by law.

Grafico Azioni Quia Resources Inc. (TSXV:QIA)
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Da Mag 2024 a Giu 2024

Grafico Azioni Quia Resources Inc. (TSXV:QIA)
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Da Giu 2023 a Giu 2024