Business
Lithoquest Intersects 27.60 g/t Gold over 0.59 metres at Miminiska
VANCOUVER, BC / ACCESSWIRE / July 20, 2022 / Lithoquest Resources Inc. (TSXV:LDI) ("Lithoque...
About this update from Storm Exploration Inc
[{"type":"text","content":"Lithoquest Intersects 27.60 g/t Gold over 0.59 metres at MiminiskaVANCOUVER, BC / ACCESSWIRE / July 20, 2022 / Lithoquest Resources Inc. (TSXV:LDI) (\"Lithoquest\" or the \"Company\") today announced assay results from the 2022 spring drill program on its Miminiska Property located in northwestern Ontario, Canada. Three zones with significant gold mineralization were encountered, including 27.6 g/t Au over 0.59m starting from 115m.\"This is a significant development at the Miminiska Prospect,\" commented Bruce Counts, President and CEO of Lithoquest Resources Inc. \"These results extend the high-grade gold mineralization in the folded iron formation along the strike of the central limb and underscore the importance of testing other higher-priority target areas in the north, central and south limbs.\"\"These results also highlight the potential of the broader Miminiska Property,\" continued Mr. Counts. \"Particularly when they are viewed in context with the historical high-grade drill results from the Frond Prospect, 12km to the east, and the under-explored banded iron formation that lies between them.\"Key PointsConsistent with the highest-grade results obtained on the Miminiska Prospect to dateHoles targeted areas previously untested by drilling130m lateral extension to the high-grade gold mineralizationMultiple high priority target areas remain to be tested at the Miminiska Prospect2022 Spring Drill Program659m of drill core was recovered from two holes drilled at the Miminiska Prospect in March 2022: DDH 22-01 and DDH 22-02 (see Figure 1). Approximately 800 core samples were collected and submitted for assay. Assays above 0.5 g/t Au are presented in Table 1.DDH 22-01 was inclined at -55⁰ and drilled at an azimuth of 178 degrees obliquely across the southern limb of the folded iron formation. The drill hole intersected altered iron formation and clastic sediments. DDH 22-01 returned four assays > 1 g/t Au including 2.40 g/t Au over 1.0 meter and 2.39 g/t Au over 0.44 meters.DDH 22-02 was inclined at -60⁰ and drilled due north to test a coincident structural and conductivity target located on the west side of the central limb. Significant sulphide mineralization, including pyrite, pyrrhotite and arsenopyrite as well as quartz veining was encountered in 2 sections of altered iron formation in the drill hole. Bot...