Silver Quest Resources Ltd.
TSX VENTURE :
SQI
June 08, 2011 08:00 ET
Silver Quest Commences Exploration on the 3Ts Project, B.C.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 8, 2011) -Silver Quest Resources (TSX VENTURE:SQI) ("Silver Quest" or "theCompany") is pleased to announce the commencement of 2011 explorationactivities on its 3Ts Project in central British Columbia, locatedapproximately 120 kilometres southwest of Vanderhoof. For additionalinformation please visit the Company's website www.silverquest.ca.
Theexploration program, initially budgeted at $500,000, will consist ofapproximately 2,000 metres of diamond drilling, geological mapping andprospecting. Prospecting and mapping will be concentrated in the easternthird of the property area which is now open and free of dense secondgrowth trees, following a forest fire last August. The Company intendsto focus drilling on the Ted Vein, Tommy Vein, Mint Vein and Ringer Zonetargets.
Ted Vein
Thebest hole from previous drilling on the Ted Vein assayed 8.88 grams pertonne (g/t) gold and 393.6 g/t silver across 15.4 metres (true width). ANational Instrument 43-101 compliant inferred resource of 273,800tonnes grading 2.0 g/t gold and 133 g/t silver has been calculated forthe upper Ted Vein, the portion of the vein above a crosscuttingmicrodiorite sill that is about 140 metres thick. The Ted Vein remainsopen below the sill, where the best drill hole to date intersected 2.68g/t gold and 152.1 g/t silver across a true width of 17.2 metres.Planned 2011 diamond drilling will test the Ted Vein structure at depth,below the crosscutting sill, and along strike to the north both aboveand below the sill.
Tommy Vein
ANational Instrument 43-101 compliant inferred resource of 470,722tonnes grading 7.4 g/t gold and 65.2 g/t silver has been calculated forthe upper Tommy Vein, the portion of the vein above a crosscuttingmicrodiorite sill that is about 120 metres thick. The Tommy Vein remainsopen below the sill, where the best hold to date intersected 8.83 g/tgold and 62.6 g/t silver across 8.07 metres (true width). Planned 2011diamond drilling will test the Tommy Vein structure at depth, below thecrosscutting sill, and along strike to the north.
Mint Vein
Previousdiamond drill holes on the Mint Vein structure intersected up to 4.15g/t gold and 45.8 g/t silver across 4.9 metres. The planned 2011 diamonddrilling will test the Mint Vein structure both along strike and downdip.
Ringer Zone
Additionaldrilling is planned to search for the bedrock source of the RingerZone, a cluster of mineralized quartz-carbonate vein boulders that areup to 2 metres in maximum dimension. Eight samples from these bouldersreturned an average of 19 g/t gold and 140 g/t silver (see the Company'snews release of September 24, 2003).
The 3Ts Project covers anepithermal quartz-carbonate vein system within which 12 individualmineralized veins, ranging from approximately 250 to 650 metres instrike length, have been identified to date. The 3Ts Project consists offive contiguous properties – the Tsacha, Tam, Taken, Tommy Lakes and anewly staked property located in the Nechako Plateau region of centralBritish Columbia. The newly staked property is on the eastern side ofthe 3Ts Project, and consists of one mineral claim covering 311.Collectively, the project consists of 10 mineral claims totallingapproximately 3,164 hectares.
David Pawliuk, P.Geo., VicePresident Exploration for Silver Quest is the Qualified Person, asdefined by National Instrument 43-101, for the 3Ts Project andsupervised the preparation of the technical information in this release.
SILVER QUEST RESOURCES LTD.
Randy Turner, President