PB-14-08 INTERSECTS 221.74 METRES GRADING 1.65
GRAMS GOLD PER TONNE AT THE VICKERS TARGET
TORONTO, Sept. 15, 2014 /CNW/ - Northquest Ltd.
(TSX.V-NQ) (FWB-N3Q) ("Northquest" or "the Company") is pleased to
announce the first batch of 2014 drilling results from the Pistol
Bay Gold Project, Nunavut,
Canada. The project consists of 861 square kilometres of
mineral rights covering a 90 kilometre strike length of a gold
bearing trend known as the Pistol Bay Trend, which contains a
west-trending series of gold occurrences and gold zones intersected
in holes drilled by Northquest in 2011, 2012, and 2013. Over
the past 4 years, since field operations commenced in April 2011, the Company has completed three
airborne geophysical surveys and 13,660 metres of diamond drilling
in 66 drill holes, of which 9,400 metres of drilling and 37 drill
holes were completed at the Vickers Target. The results reported
herein are from the Vickers Target. The Company has completed 4,550
metres of drilling so far this year in 18 drill holes and
additional drilling is planned for this year. This press release
describes the results of the first four drill holes for which
assays have been received and verified. The Company will
publish all of the data about the drilling in the form of complete
drill logs and assay files, drilling plan maps, and cross sections
on the Company web site www.northquest.biz. This year's strategy
and objectives are to complete drilling on Sections 8800 W, 8750 W,
8700 W, 8650 W, and 8600 W in order to explore the potential
extension of the gold zone that has been intersected over a 200
metre strike length from 8800 W to 9000 W in holes drilled by
Northquest in 2012 and 2013.
Vickers Target
The Vickers Target is an elliptical
gabbro-diorite intrusive complex with a long axis of 1 kilometre.
The gabbro-diorite intrusion is within silicified felsic schist and
mylonite of a linear zone referred to as the Pistol Bay Corridor.
Gold in surface outcrops occurs in a silicic, chloritic, breccia
body exposed in the margin and footwall of the intrusion. The
contact between the mineralized intrusion and the mineralized
footwall sequence has a strike azimuth of approximately 110 degrees
and dips south at approximately 60 to 70 degrees. The Company has
received and verified the complete assay results from PB-14-06 to
PB-14-09 and the results of the drill holes are set out below in
Table 1.
Table 1. Summary of weighted average grade of gold
concentrations intersected in drill holes PB-14-06 to PB-14-09,
including intervals of variable average grade.
|
Hole
|
Section
W
|
Length
(m)
|
Azimuth
|
Collar
Inclination
|
From
(m)
|
To
(m)
|
Intersection
Length (m)
|
Au
(g/t)
|
|
PB-14-06
|
8800 W
|
270.00
|
00
|
-50
|
44.80
|
96.50
|
51.70
|
0.77
|
|
including
|
|
|
|
|
90.50
|
96.50
|
6.00
|
2.22
|
|
|
|
|
|
196.70
|
270.10
|
73.40
|
1.09
|
|
including
|
|
|
|
|
208.00
|
253.00
|
45.00
|
1.61
|
|
PB-14-07
|
8800 W
|
329.00
|
00
|
-71
|
32.00
|
277.00
|
245.00
|
1.40
|
|
including
|
|
|
|
|
32.00
|
146.00
|
114.00
|
1.67
|
|
and
|
|
|
|
|
146.00
|
162.95
|
16.95
|
0.02
|
|
and
|
|
|
|
|
162.95
|
173.00
|
10.05
|
6.26
|
|
and
|
|
|
|
|
173.00
|
205.50
|
32.50
|
0.23
|
|
and
|
|
|
|
|
205.50
|
230.00
|
24.50
|
1.29
|
|
and
|
|
|
|
|
230.00
|
254.00
|
24.00
|
0.09
|
|
and
|
|
|
|
|
254.00
|
277.00
|
23.00
|
2.07
|
|
PB-14-08
|
8800 W
|
353.00
|
00
|
-70
|
31.50
|
56.00
|
24.50
|
0.74
|
|
|
|
|
|
104.26
|
326.00
|
221.74
|
1.65
|
|
including
|
|
|
|
|
104.26
|
162.50
|
58.24
|
1.79
|
|
and
|
|
|
|
|
162.50
|
212.00
|
49.50
|
0.40
|
|
and
|
|
|
|
|
212.00
|
263.00
|
51.00
|
2.08
|
|
and
|
|
|
|
|
263.00
|
273.50
|
10.50
|
0.12
|
|
and
|
|
|
|
|
273.50
|
326.00
|
52.50
|
2.55
|
|
PB-14-09
|
8750
W
|
242.00
|
00
|
-50
|
49.30
|
94.50
|
45.20
|
1.33
|
|
including
|
|
|
|
|
49.30
|
75.00
|
25.70
|
1.80
|
|
Note: Intersection
lengths are core lengths and do not necessarily represent the true
width of the mineralized zone. Weighted average grades are
calculated from assays of drill core with sample lengths, in
general, of 1.0 to 1.5 metres. Grams gold per tonne, g/t Au, and
ppm gold all mean the same thing. The detection limit of the assay
method is 0.01 ppm gold. Some of the samples within the intersected
lengths reported in Table 1 are below the detection limit and the
assay value for those samples used in the weighted average grade
calculation is zero. In PB-14-07, five of the 190 samples analysed
in the major interval contain less than 0.01 ppm gold. Two drill
core samples in the data described herein contain greater than
35.00 grams gold per tonne, a concentration arbitrarily selected
for discussion purposes, equivalent to approximately one ounce gold
per ton. The effect of those samples on the calculated average
grade of the major intervals described in Table 1 is set out in
Table 2.
|
Table 2. List of all samples with gold concentrations greater
than 35.00 g/t Au and the contribution of those samples to the
weighted average grade of the reported intersection.
|
Drill Hole
|
From (m)
|
To
(m)
|
Intersection
Length
|
Weighted Average Au
g/t (1)
|
Sample
|
Assay
Value
Au g/t
|
Length
(m)
|
Contributed Value
(2)
|
Contributed
Value at 35.00 g/t Au
(3)
|
|
PB-14-07
|
32.00
|
277.00
|
245.00
|
1.40
|
6601475
|
41.20
|
1.50
|
0.2522
|
0.2143
|
|
32.00
|
277.00
|
245.00
|
1.40
|
6601565
|
76.00
|
0.70
|
0.2171
|
0.1000
|
|
|
|
|
|
|
|
|
|
|
|
(1) Weighted
Average grade is the weighted average grade of the primary drilling
intersection of the mineralized zone reported in Table
1.
|
|
(2) Contributed
Value means the value that the individual sample in the list
contributes to the Weighted Average of the interval.
|
|
(3) Contributed
value at 35.00 g/t Au, is the contributed value of the sample if
the assay was arbitrarily cut to 35.00 g/t Au.
|
Section 8800 W
PB-14-06 and PB-14-07 were drilled from
the same set-up, approximately 40 metres south of PB-13-10, which
intersected 44.00 metres grading 3.40 grams gold per tonne.
PB-14-08 was drilled below PB-14-06 and 07 and intersected the
mineralized zone confirming the continuity of the Vickers Zone a
vertical depth of approximately 300 metres.
Section 8750 W
PB-14-09 confirmed the continuity of
the mineralized zone 50 metres east of 8800 W.
Jon North, CEO, stated that
"These initial drilling results extend the Vickers Zone to a
vertical depth of 300 metres on 8800 W and include the first
drill hole on 8750 W. Rather than complete infill drilling this
year, every hole that was drilled was designed to explore for the
limits of the Vickers Zone, and we are very pleased to report that
the zone is still open down dip and along strike to the east".
Information in this press release relating to exploration
results is based on data collected under the supervision of
Dwayne Car, P.Geo., who holds the
position of Vice President, Exploration of the Company and is a
Qualified Person within the meaning of National Instrument 43-101.
Mr. Car has approved the disclosure contained in this press release
and has verified the scientific and technical data contained
herein.
Potential quantity and grade is conceptual in nature.
There has been insufficient exploration to define a mineral
resource at the Pistol Bay Project to date, and it is uncertain if
further exploration will result in the target being delineated as a
mineral resource. Northquest is a mineral exploration company
focused on the acquisition, exploration and development of
properties for the mining of gold and other minerals. Northquest
has ** shares outstanding (** shares on a fully diluted
basis). For further information please visit
www.northquest.biz.
Drill core samples of NTW size were collected and cut in half
with a rock saw on site. In general, sample lengths vary from 1.0
to 1.5 metres. Rock samples were analyzed by AGAT Laboratories in
Mississauga, Canada, (an ISO 17025
accredited laboratory by the Standards Council of Canada (SCC), by AGAT method 202-121 in which
1 kg of sample pulp is passed through a 75 micron screen and all of
the coarse material on the screen is assayed by fire assay with
gravimetric finish (Code 202064) and two samples of homogenized
pulp that passed through the screen are assayed by fire assay with
AA finish (Code 202052) on 30 gram sample charges. Finally the
weighted average of all assays is calculated by the laboratory and
reported as the gold concentration of the rock sample. For
analytical quality control, blank samples and commercially prepared
and certified gold control standards with a range of grades are
inserted at a frequency of one standard for every 10 samples and
one blank for every 20 samples. NSV means "no significant values",
g/t means "grams gold per tonne", ppm means "parts per million"
which is the same as grams per tonne. The reported intersections
are for drill core length and do not necessarily represent true
widths.
Information in this press release relating to exploration
results is based on data collected under the supervision of
Dwayne Car, P.Geo., who holds the
position of Vice President, Exploration of the Company and is a
Qualified Person within the meaning of National Instrument 43-101.
Mr. Car has approved the disclosure contained in this press release
and has verified the scientific and technical data contained
herein.
Certain information set forth in this news release may contain
forward-looking statements that involve substantial known and
unknown risks and uncertainties. These statements relate to future
events or future performance and reflect the Company's expectations
regarding the future growth, results of operations, business
prospects and opportunities. In some cases forward-looking
information can be identified by terminology such as "may", "will",
"should", "expect", "intend", "plan", "anticipate", "believe",
"estimate", "projects", "potential", "scheduled", "forecast",
"budget" or the negative of those terms or other comparable
terminology. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond the
control of the Company, including, but not limited to, the impact
of general economic conditions, industry conditions, volatility of
commodity prices, risks associated with the uncertainty of
exploration results and estimates, metallurgical test results and
that the resource potential will be achieved on exploration
projects, currency fluctuations, dependence upon regulatory
approvals, political and country risk, and the uncertainty of
obtaining additional financing and exploration risk. Readers are
cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements. The
Company expressly disclaims any intention or obligation to update
or revise any forward-looking information, whether as a result of
new information, events or otherwise, except in accordance with
applicable securities laws.
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 Northquest Ltd.