Silver Quest has released its first assay results from its Yukon exploration program on the Boulevard project. These results are from the Vegas Zone, one of 3 anomalous zone previously defined on Boulevard. The six drill holes released this morning are the first drill holes to be drilled by Silver Quest on the Boulevard project and they struck gold! This is a real accomplishment, as most other company’s working in the Yukon have spent their time trenching and re-trenching. Silver Quest decided to take a different approach and test for bedrock mineralization by drilling and have hit gold.
This program would have been a success if only sniffs of gold were encountered, but they managed to find some fairly significant drill intercepts including 23.90 m of 0.79 g/t gold and 6.26 m of 2.11 g/t gold. We need more than this for sure but obviously they are in the right church and perhaps need to select a pew a few rows over. These are only the first results to be released by the company. I expect more results to be released shortly from the remaining 14 holes testing the remaining 2 zones at Boulevard and in addition drilling is underway at CEO Randy Turner’s favorite Yukon target; Prospector Mountain.Lets also not forget how much land SQI has acquired in the Yukon and that should become apparent shortly.
The stock has had a great run and people (including me) are going to take profits along the way. Unlike many other Yukon plays, SQI has solid deposits elsewhere, both of which are dramatically going to increase thanks to drilling this year. In my highly biased opinion, one could make an argument that the current share price values just the two known deposits in the portfolio so one gets all the Yukon for free and has some value protection underneath them.