RE: NEWS - Silver Quest Expands Mineralization onSilver Quest announced some much anticipated drill results this afternoon, that have lived up to expectations. These are the first of many drill results from the growing Capoose Project. This season Silver Quest has completed 26 drill holes for a total of 7,400 metres of drill core or approximately 3,700 samples that have all been shipped to the assay lab for analysis.
A new feature in this year’s core is the appearance of massive sulphide stringers up to 25 centimetres wide. This is a very interesting added feature. These types of features are generally associated with VMS (volcanogenic massive sulphide) deposits which usually contain elevated levels of copper, lead, zinc, silver and gold. VMS deposits typically occur as lenses of polymetallic massive sulphides that form at or near the seafloor. Metals contained in VMS deposits are typically high grade, high value and low tonnage. Some of the world’s largest VMS deposits include the Flin Flon Belt, Kidd Creek and Noranda.
For Silver Quest, the appearance of massive sulphide stringers means a new deposit type to consider with the remainder of the exploration program. It also means that we should be watching for significant base metals results, which will be added to the resource as credits when Silver Quest calculates a new and improved resource estimate.
The two drill holes released today extend the mineralized zone by 100 metres to the southeast. The first drill hole D-10-113 was very similar to hole D-09-100 drill in 2009 which contained 30 metres of 1.99 g/t gold and 23.93 g/t silver. D-09-100 is the south-eastern-most hole in the defined inferred resource of 1.32 million ounces of gold equivalent at Capoose. D-10-113 was drilled 50 m to the south of D-09-100 and intersected its own 30 metre interval of significant gold and silver mineralization grading 1.89 g/t gold and 12.51 g/t silver. D-10-115 was drilled another 50 m south and interested zones of significant gold and silver mineralization as well as zones of significant zinc mineralization, due to the massive sulphide strings.
With results this good, and plenty more to come from Capoose as well as the Yukon Properties (My favorite Yukon project, Prospector Mountain, hasn’t even been drilled yet), it appears gold going to a new high by years-end is what’s going to decide whether or not I have to wear (oh my God, did I actually offer to do this?) a Vancouver Canucks jersey for a day at the Vancouver Gold Show in January.