NORTHQUEST LTD. V.NQ

Confirmation drilling of an old-INCO target

[Rocketred500]

HALIFAX, NS (MINEWEB) - Confirmation drilling of an old-INCO target in Nunavut now in the hands of Northquest (TSX-V: NQ) produced a whopping 164 metres @ 5.39 g/t gold, sending the Canadian junior's shareprice flying in trading on Thursday.

A spokesperson for Northquest confirmed the drillhole came off what used to be called the C7 target, since renamed Vickers by Northquest, on the Pilot Bay project where Inco had drilled some long gold-mineralised intercepts back in the late 1980s.

The historic drillholes, which Northquest is confirming in an ongoing drill program, include 149.8 metres @ 2.55 g/t Au, 163 metres @ 1.13 g/t Au and 75 metres @ 1.08 g/t Au.

But, clearly, these were not as long or high grade as Northquest's first and only drillhole release from the Vickers target so far.

Northquest did not break down the new drilling result beyond the overall 164 metre intercept.

The mineralization is in gold bearing gabbro-diorite intrusive complex, Northquest says, into which it is drilling 14 drillholes. Though results are pending on further drillholes, Northquest did describe five more drillholes as hitting host rock similar to that in its first release.

Northquest's vice-president of exploration is Dwayne Car, who worked for INCO at Pilot Bay back in the 1980s.

In a statement, Jon North, who could not be reached as of presstime, said the long gold bearing hit at Vickers, "must be one of the best exploration drillholes in Canada in recent memory."

North also noted that Northquest had hit gold in a series of other targets throughout the sizeable Pilot Bay project (1,100 sq. kilometres), with as much as 10 metres @ 2.38 g/t at the Bazooka target and 15 metres @ 1.76 g/t at the Sako target.

"We are currently developing a strategy to comprehensively explore and delineate the gold mineralization in the Pistol Bay Corridor emphasizing the Vickers target as our beach head," North stated.

At presstimeNorthquest's shareprice was up 126 percent to C$0.77 on trading volume over two million.

The Pilot Bay project is about 150 kilometres south of the Meliadine trend where Angico-Eagle Mines owns the five million ounce Meliadine gold project.

[zedman4]

Very poor editing on someones part where as "Pilot Bay" should read "Pistol Bay" and "150 miles south of  Kilio- meters south of the melidine trend ..." should read 60 km south of the Meliadine trend...."