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Q-Gold announces gold zone drilling program at Mine Centre, Ontario
SEC 12g 3-2(b) Exemption No. 82-4931 FORT FRANCES, ON, Aug. 18 /CNW/ - Q-Gold Resources Ltd. (TSX...
About this update from Q-gold Resources Ltd
[{"type":"text","content":"\n\n\n\nSEC 12g 3-2(b) Exemption No. 82-4931\n\n\nFORT FRANCES, ON, Aug. 18 /CNW/ - Q-Gold Resources Ltd. (TSX VENTURE:QAU)\n(FRANKFURT:QX9) (http://www.qgoldresources.com) announced that it has\ncontracted a diamond core drill rig for a series of sections across the\nCompany's gold-bearing McKenzie Gray quartz vein on the southwest portion of\nits over 30,000 acre holdings at Mine Centre, Ontario. Subject to the\ncompletion of preliminary line-cutting, the rig should be onsite before\nmonth-end.\n\n\nThe McKenzie Gray tract includes six contiguous Crown Leasehold Patents\ntotaling 240 acres, which are surrounded on three sides by Q-Gold's other\nholdings at Mine Centre. The tract was purchased by Q-Gold from private\nparties (see press release dated January 5, 2007) and also includes the\ngold-bearing Jolly Roger vein, a small mill and building and 2 large tailings\nponds, which include a currently inactive permit that can be activated by the\nCompany if events warrant.\n\n\nAn historical report prepared by David J. Gliddon Geological Services,\nInc., dated July 31, 1990 (p. 16), shows the following results from different\ntrenching, sampling and assaying programs on the McKenzie Gray Vein by other\noperators between 1938-46:\n\n\n\n Au Grade Width Strike\n (grams/tonne) (m) Length (m)\n -------------------------------------\nMcIntyre Gold Mines Ltd. 16.8 0.9 76.2\n-------------------------------------------------------------------------\nU.S. Smelter Corp. 15.1 1.2 53.4\n-------------------------------------------------------------------------\nVentures, Ltd. 9.3 1.2 91.5\n-------------------------------------------------------------------------\n\n\nExploratory drilling by the previous owners in 1992 revealed gold-sulfide\nmineralization in a lense plunging to the 100 metre level, with the vein\nremaining "open" at depth. This lense at depth will be the target of Q-Gold's\ndrilling program. Reserve estimates made by Ovalbay Geological Services Inc.\nin a report dated December 31, 1992 (p. 32), showed 98,702 tons grading 0.30\ngold equivalent ounces per ton in all ore categories (totaling 29,611 gold\nequivalent ounces).\n\n\nHowever, as a Qualified Person, as defined by NI 43-101, has not done\nsufficient work to classify the above historical estimates as current mineral\nresource, Q-Gold is not treating these histo...