Silver Quest Approves $2.2 Million for Capoose Project
Tue Mar 30, 8:00 AM
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2010) - Silver Quest Resources (TSX VENTURE: SQI.V) ("Silver Quest" or "the Company") is pleased to announce that its Board of Directors has approved a $2.2 million budget for the Capoose Project ("Capoose") located on the Nechako Plateau, 185 km southwest of Prince George. See the Silver Quest website at www.siliverquest.ca for property location and project detail information. The Capoose project is a joint venture with Bearclaw Capital Corp. (40%) with Silver Quest (60%) acting as Operator.
Silver Quest is planning extensive diamond drilling at Capoose to enhance and further define the NI 43-101 inferred resource of 1.32 million ounces of gold equivalent or 53 million tonnes at a grade of 0.77 g/t gold equivalent. This season's program will include over 10,000 metres of resource definition drilling, consisting of approximately 35 drill holes with depths ranging between 250 and 300 metres. Drilling will be completed in a grid pattern across the south end of the deposit, to infill the central portion of the deposit area and test for extensions of the deposit to the south. Silver Quest also plans on drill testing several geophysical and geochemical targets in other areas on the property.
Silver Quest's President and CEO, Randy Turner states, "This is an exciting and busy year for the Capoose Project with significant growth potential. We are looking forward to increasing the resource and to testing several of the targets defined over the past couple of years."
David Pawliuk, P. Geo. is the qualified person, as defined by National Instrument 43-101, for the Capoose project and supervised the preparation of the technical information in this release.
Additionally, the Company wishes to announce the donation of 100,000 shares to the Britannia Mining Museum in British Columbia.
SILVER QUEST RESOURCES LTD.
Randy Turner, President