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Q-Gold Resources engages FHB Consulting Services LLC to update the Resource Estimate for Quartz Mountain
TORONTO, July 21, 2025 (GLOBE NEWSWIRE) -- Q-Gold Resources Ltd. (TSXV: QGR) (“Q-Gold ...
About this update from Q-gold Resources Ltd
[{"type":"text","content":"Q-Gold Resources engages FHB Consulting Services LLC to update the Resource Estimate for Quartz Mountain\n\n\n\n TORONTO, July 21, 2025 (GLOBE NEWSWIRE) -- Q-Gold Resources Ltd. (TSXV: QGR) (“Q-Gold” or the “Company”) is pleased to announce that it has retained\n \n FHB Consulting Services LLC\n \n (“\n \n FSB Consulting\n \n ”), a Washington-based geological consulting firm that is independent from the Company, to conduct an updated review and revision of the historical estimate that has not been confirmed by Q-Gold at the later stage mineral exploration project located in south-central Oregon (the “\n \n Quartz Mountain Project\n \n ”) that the Company intends to acquire pursuant to a share exchange agreement dated March 31, 2025 (the “\n \n Acquisition\n \n ”). For more information about the Acquisition, please see the Company’s press release dated April 3, 2025, a copy of which is available under the Company’s SEDAR+ profile at\n \n www.sedarplus.ca\n \n .\n \n\n This initiative is expected to entail a comprehensive revision of the previous mineral resource estimates, originally completed by M. Lechner in 2012 and later updated in-house by the vendor of the Quartz Mountain Project, Alamos Gold Inc. (“\n \n Alamos\n \n ”), in 2016, prepared by Marc Jutras, Ginto Consulting Inc.\n \n\n As part of the review process, the Company anticipates that FHB Consulting will conduct a field visit to the project site in Oregon. The Company expects that the updated resource estimate will incorporate data from boreholes drilled at Crone Hill and Quartz Butte by Alamos in 2015, as well as historical drilling data from earlier exploration campaigns. The current resource estimate for the Quartz Mountain Project is presented in Table 1.\n \n\n Table 1: Mineral Resources at Quartz Mountain as reported in Alamos’ Mineral Reserves and Mineral Resources as at December 31, 2024.\n \n\n\n\n\n Gold Mineral Resources\n \n\n\n\n Tonnes\n \n (000)\n \n\n\n\n Grade\n \n (g/t Au)\n \n\n\n\n oz Au\n \n (000)\n \n\n\n\n\n\n Measured and Indicated Mineral Resources\n \n\n\n 12,156\n \n\n 0.87\n \n\n 339\n \n\n\n\n\n Inferred Resources\n \n\n\n 39,205\n \n\n 0.91\n \n\n 1.147\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Notes to Mineral Reserve and Resource Tables:\n \...