Business
Q-GOLD RESOURCES LTD. ANNOUNCES CROWN KING, ARIZONA SILVER JOINT-VENTURE WITH CAVAN VENTURES INC.
May 5, 2011 (Canada NewsWire Group) -- FLAGSTAFF, AZ, May 5 /CNW/ - Q-Gold Resources Ltd. (TS...
About this update from Q-gold Resources Ltd
[{"type":"text","content":"\n\n\n May 5, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nFLAGSTAFF, AZ, May 5 /CNW/ - Q-Gold Resources Ltd. (TSXV: QGR)\n ("Q-Gold") (http://www.qgoldresources.com) announced today that it has entered a Mining Option Agreement with\n Cavan Ventures Inc. (TSXV: CVN) ("Cavan") (http://www.cavanventures.com) whereby Cavan has obtained a 18-month option to earn a 65%\n participating interest in a prospective Arizona silver joint venture\n with Q-Gold.  The joint venture will contain Q-Gold's holdings of 3\n patented historic silver mines and 22 adjoining U.S. Bureau of Land\n Management ("BLM") mining claims in the Peck Mining District of Yavapai\n County, Arizona, totalling 484 acres.  The Peck District is famous for\n its historic high-grade silver production, having produced an\n "official" 1,374,000 ounces from 1875 to 1910.\n\n\nBy meeting its obligations in U.S. Dollars during the 18-month Option\n Period, including cash payments to Q-Gold of $275,000, work\n expenditures of $1,000,000 and issuance of Cavan shares to Q-Gold worth\n $300,000, Cavan will earn a 65% participating interest in the Joint\n Venture.  During the Option Period, Q-Gold will be Operator for the\n undertaking.\n\n\nAs noted above, the joint venture area contains 3 high-grade historic\n silver mines and a number of BLM claims highly prospective for silver,\n yet it has never experienced modern mining exploration techniques. \n Therefore, the...