CMQ Announces Drilling Results on Red Canyon Project
2011年10月11日 - 10:51PM
PR Newswire (Canada)
CALGARY, Oct. 11, 2011 /CNW/ - CMQ Resources Inc. ("CMQ") is
pleased to report drill results for an eight-hole reverse
circulation drilling program at the Red Canyon sediment-hosted gold
project in Eureka County, Nevada. The project is being
explored under an "exploration with option to form joint venture
agreement" with Miranda Gold Corp. ("Miranda") . Montezuma Mines
Inc. ("Montezuma"), a wholly owned subsidiary of CMQ, completed a
5,265-ft (1,604.8 m) program designed to test the structural
corridor trending southeast from the Ice prospect. The ends
of the corridor are anchored by core hole MR09-05C and
reverse-circulation hole MR10-01 drilled in 2009 and 2010,
respectively.
___________________________________________________________________
|DrillHole| Intercept(ft) |Length (ft)| ozAu/t | Length (m) | gAu/t
|
|_________|_______________|___________|________|____________|_______|
|MR09-05C | 0-130 | 119 | 0.152 | 36.3 | 5.25 | | | | (11 ft no | |
| | | | | sample) | | | |
|_________|_______________|___________|________|____________|_______|
|includes | 56-95 | 39 | 0.281 | 11.9 | 9.64 |
|_________|_______________|___________|________|____________|_______|
|MR10-01 | 775-795 | 20 | 0.050 | 6.1 | 1.714 |
|_________|_______________|___________|________|____________|_______|
| | 965-985 | 20 | 0.086 | 6.1 | 2.949 |
|_________|_______________|___________|________|____________|_______|
Seven of the eight holes were terminated in the Lone Mountain
Dolomite as planned. Hole MR11-06 was lost due to caving and
voids at 265 ft. Significant assays are listed below.
_____________________________________________________________________
| Drill Hole | Intercept | Length (ft) | ozAu/t | Length (m) | g
Au/t | | | (ft) | | | | |
|____________|___________|_____________|________|____________|________|
| MR11-01 | 110-130 | 20 | 0.205 | 6.1 | 7.025 |
|____________|___________|_____________|________|____________|________|
| MR11-02 | 100-105 | 5 | 0.009 | 1.52 | 0.309 |
|____________|___________|_____________|________|____________|________|
| MR11-03 | 245-275 | 30 | 0.115 | 9.14 | 3.926 |
|____________|___________|_____________|________|____________|________|
| MR11-07 | 245-265 | 20 | 0.010 | 6.10 | 0.353 |
|____________|___________|_____________|________|____________|________|
| MR11-08 | 215-245 | 30 | 0.007 | 9.14 | 0.227 |
|____________|___________|_____________|________|____________|________|
True thicknesses are not known. Gold mineralization greater than
0.005 oz Au/t was not intersected in MR-04, -05 or -06. All drill
samples were collected with a reverse circulation drill using 5 ft
(1.52 m) sample intervals. Samples were assayed by ALS Chemex
Laboratories, Inc. of Sparks, Nevada. Gold results were
determined using standard fire assay techniques on a 30-gram sample
pulp with an atomic absorption finish. Montezuma QC/QA
includes the insertion of standards and blanks on a regular basis,
check assays on select samples, and the collection of duplicate
samples. Montezuma began another round of drilling on October
4(th). Drilling will follow up on some of the mineralized
intervals listed above and also begin to test the Juniper Gulch
series of anomalies in the southeast part of the project. It
is planned to drill at least 5 holes totaling approximately 5,000
ft (1,524 m). Project Details The Red Canyon project in Eureka
County, Nevada, includes 254 unpatented lode mining claims (7.9 sq
mi/20.6 sq km) on the Battle Mountain-Eureka Trend and adjoins U.S.
Gold's Tonkin Springs property to the west. The project
covers an erosional "window" that exposes hydrothermally altered
and brecciated lower-plate carbonate rocks that are age equivalent
to the rocks hosting Barrick's Cortez Hills gold deposit. CMQ
currently has 44,188,682 common shares issued and
outstanding. CMQ's website is located at
www.cmqresources.com. John Hogg, CEO, CMQ Resources Inc., is the
qualified person, as defined by National Instrument 43-101, who has
reviewed and verified the data disclosed in this press release. The
TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release. Forward-Looking Statements
This press release contains certain forward-looking statements and
forward-looking information (collectively referred to herein as
"forward-looking statements") within the meaning of Canadian
securities laws regarding the drilling and potential of the Red
Canyon project as well as the ability of CMQ to negotiate a
forbearance agreement, arrange alternative financing or continue
operations. Undue reliance should not be placed on
forward-looking statements, which are inherently uncertain. There
can be no assurance that the plans, intentions or expectations upon
which forward-looking statements are based will in fact be
realized. Forward-looking statements are based on
management's current beliefs as well as assumptions made by, and
information currently available to, management. Though
management considers these assumptions to be reasonable based on
information currently available to it, they may prove to be
incorrect. The forward-looking statements contained in this
press release are made as of the date hereof and CMQ does not
undertake any obligation to update publicly or to revise any of the
included forward-looking statements, except as required by
applicable law. CMQ Resources Inc. CONTACT: John Hogg, Chief
Executive Officer, CMQ Resources Inc., Tel:(775)778-3693, E-mail
montezuma@frontiernet.net
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