Silver Quest Commences Exploration in the White GoSilver Quest Resources Ltd.
TSX VENTURE :
SQI
June 01, 2011 08:00 ET
Silver Quest Commences Exploration in the White Gold District, Yukon
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 1, 2011) -Silver Quest Resources (TSX VENTURE:SQI) ("SilverQuest" or "the Company") is pleased to announce the commencement of2011 exploration activities on its properties in the White GoldDistrict, Yukon. The Company has 17 separate properties in the District,which are comprised of approximately 4,000 mineral claims and coveringapproximately 85,000 hectares. For further details on propertylocations, please visit the Company's website www.silverquest.ca.
The2011 exploration program will consist of approximately 15,000 metres ofdiamond drilling, 20,000 soil samples, geological mapping and airbornegeophysical surveying. This work is estimated to cost $5 million.Exploration will begin at the Company's Prospector Mountain andBoulevard projects, both of which were explored during 2010.
Prospector Mountain Project
TheProspector Mountain Project is located 90 kilometres northeast ofCarmacks and is comprised of 271 contiguous mineral claims coveringapproximately 5,500 hectares. In 2010 Silver Quest better defined theBonanza Zone, a 1,600 metre long anomalous trend within the ProspectorMountain property. Select rock samples from the Bonanza Zone returned upto 109 grams per tonne (g/t) gold, 543 g/t silver and 1.63% copper (seenews release from August 4, 2010). Geochemical soil sampling hascommenced. The Company intends to complete additional geophysicalsurveys and sampling followed by diamond drilling to test the extent ofthe Bonanza Zone both along strike and at depth.
The Boulevard Project
TheBoulevard Project is located 135 kilometres south of Dawson City and 35kilometres south of Kinross' Golden Saddle gold deposit. The BoulevardProject property adjoins the southwest and northwest borders ofKaminak's Coffee Gold Project. The Boulevard Property is comprised of238 contiguous mineral claims covering approximately 4,900 hectares. TheCompany identified the Boulevard Trend during 2010 field work at theBoulevard Project. Gold-, arsenic-, antimony- and molybdenum-in-soilgeochemical anomalies have been identified over a distance ofapproximately 20 kilometres along the Boulevard Trend. Diamond drillingto date has tested only 1.5 kilometres of the Boulevard Trend. Furthersoil sampling and diamond drilling will commence by mid-June to furtherevaluate the project.
Updates will be provided for additionalexploration activities that are being planned for the Company'sremaining projects in the White Gold District.
The Company's VicePresident of Exploration, Mr. David Pawliuk, P.Geo. is the QualifiedPerson as defined by National Instrument 43-101 for these projects andhas verified and supervised preparation of the scientific and technicalinformation in this release.