Quia Resources Reports First Drill Results Further Defining Targets at La Colina and La Rueda Anomalies
17 Ottobre 2011 - 4:36PM
Marketwired Canada
Quia Resources Inc. (TSX VENTURE:QIA) announced today initial drill results from
the first seven holes ever drilled, to the Company's knowledge, in the Guamoco
district of the San Lucas gold belt, Colombia. The seven holes were drilled at
the La Colina and La Rueda anomalies and are part of an ongoing larger 5000
metre program designed to develop a better understanding of the geology and
mineralization in the district and to develop a deposit model for the La Colina
and La Rueda anomalies. Highlights include:
- Holes SL1101 and SL1104, drilled at the north end of the La Colina target from
platform A encountered zones of disseminated gold mineralization;
- SL1101 intersected 7.6 m of 0.34 g Au/t;
- SL1104 intersected 3.25 m of 0.33 g Au/t and 4.15 m of 0.37 g Au/t and 5.50 m
of 0.32 g Au/t;
- These results, the geochemical pattern and geophysical interpretation suggest
the mineralization at the north end of La Colina is potentially on the periphery
of a significant disseminated gold system stemming from the southwest;
- Both drills are now drilling southwest along the La Colina anomaly, including
one at platform H, approximately 800 metres to the southwest of Platform A, in
the highest grade part of the La Colina gold-in-soil anomaly, coincident with a
magnetic low anomaly and a recently identified west-northwest cross-cutting
fault;
- SL1102 and SL1103 were drilled at the north end of the La Rueda target. SL1102
ended in mineralization with an intercept of 1.5 m of 1.87 g Au/t and SL1103
intersected 0.6 m of 3.46 g Au/t.
- An updated corporate presentation with new maps and other information will be
available today from the Company's website at http://www.quiaresources.com/.
Yannis Banks, Quia's CEO, said: "These initial results successfully confirmed
our thesis about the presence of disseminated gold mineralization at the 2400
metre long by up to 500 metre wide La Colina anomaly. When combined with the
geochemical pattern, geology and geophysical interpretation, these results are
guiding us approximately 500 metres to 1000 metres southwest along the La Colina
anomaly into the highest grade part of the anomaly that is coincident with a
cross-cutting fault and a magnetic low, where we have just started drilling. As
we continue our drill program we are deepening our understanding of the controls
of the gold mineralization, allowing us to refine our geological model and
vector in on the source of this mineralization."
"It is notable that the geochemical pattern of the La Rueda anomaly, which is
parallel to the La Colina anomaly, similarly widens around the same
cross-cutting structures to the southwest, further suggesting an association
between the gold mineralization and these crosscutting structures and that this
area could be the source of the gold mineralization for both the La Colina and
La Rueda anomalies."
Anomalous gold values at the La Colina anomaly are generally associated with
intercalated hydrothermal breccia and quartz-feldspar-porphyry (hypabyssal)
rocks where they contain finely disseminated pyrite mineralization (0.5 to 3%)
and actinolite alteration. Wider haloes of potassic alteration also surround the
mineralized zones and in some instances strong, pervasive potassic alteration is
directly associated with the mineralized intervals.
Anomalous gold values at the La Rueda anomaly are associated with
pyrite-mineralized quartz-carbonate veining (e.g. 1.5 m of 1.87 g Au/t in
SL1102) or discrete zones of strong silicification with pyrite mineralization
(e.g. 0.6 m of 3.46 g Au/t in SL1103).
The Company plans to test multiple targets at the southwest end of the La Colina
anomaly followed by testing of multiple targets at the southwest end of the La
Rueda anomaly. The Company plans to focus its drilling program on the La Colina
and La Rueda anomalies for the balance of the 5000 metres. The La Durmiente
anomaly and several other anomalies both further to the southwest and to the
north, which the Company also considers priority targets, remain to be tested.
Below is a summary of significant results from the first seven holes.
Drill Hole From (m) To (m) Length (m) g Au/t g Ag/t
SL1101 51.50 53.75 2.25 0.51 0.30
and 80.30 87.90 7.60 0.34 0.30
----------------------------------------------------------------------------
greater
SL1102 19.70 21.30 1.60 0.10 than 100
and 166.00 167.50 1.50 0.34 0.30
and 248.50 250.00 1.50 1.87 12.80
----------------------------------------------------------------------------
SL1103 27.65 29.05 1.40 0.94 0.30
and 32.45 33.05 0.60 3.46 5.00
and 101.50 103.00 1.50 0.42 1.93
and 150.70 152.40 1.70 0.63 0.30
----------------------------------------------------------------------------
SL1104 45.50 48.75 3.25 0.33 1.29
and 58.00 62.15 4.15 0.37 0.30
and 90.00 95.50 5.50 0.32 0.30
----------------------------------------------------------------------------
greater
SL1105 11.75 13.35 1.60 0.02 than 100
----------------------------------------------------------------------------
SL1106 211.70 212.55 0.85 1.72 12.20
and 215.20 215.75 0.55 1.11 6.50
SL1107 returned no significant values. Assay results for holes 8 and 9 are
pending and holes 10 and 11 are currently in the process of being drilled.
To date approximately 2200 metres of drilling has been completed. The drill
program has progressed slower than anticipated primarily due to mechanical
issues with the drills and long mobilization times between platforms. These
issues have been addressed with additional equipment having been brought on site
to allow for faster moves between platforms and faster repairs to the drills.
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)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Quia Resources Inc. (TSXV:QIA)
Storico
Da Giu 2023 a Giu 2024
Notizie in Tempo Reale relative a (Venture Exchange Canada (TSXV)): 0 articoli recenti
Più Quia Resources Inc. Articoli Notizie