Silver Quest Resources Ltd.: Exploration Update on the Yukon Projects
Silver Quest Resources Ltd. announce the commencement of a surface exploration program to further evaluate its properties in the White Gold area of the Yukon. The programs will comprise geological mapping, prospecting and auger sampling of previously defined geochemical anomalies on the Boulevard Property (see Press Release July 23, 2009), and prospecting and soil geochemistry on the Sizzler, VO, CC, and Tak properties (see Press Releases July 7, 2009 and August 21, 2009). Property details and locations are available on the Company’s website www.silverquest.ca.
The Boulevard property consists of 238 contiguous claims and was the site of a new gold discovery by the vendors, Kiska Metals Corp. (formerly Rimfire Minerals Corp.) and Northgate Minerals Corp. in the fall of 2008. Trenching, carried out as a result of detailed soil and auger sampling, returned significant gold values in two of three trenches, including:
– trench TRV08-01 returned 7.04 grams per tonne gold (g/t) over six metres.
– trench TRBV08-02 (100 metres southeast of TRV08-01) returned 6.43 g/t gold over two metres.
The Company’s 2009 exploration program will include auger sampling over three priority soil gold-arsenic-antimony geochemical anomalies. Auger sampling has proven to be an effective exploration tool to refine soil geochemical anomalies prior to trenching and drilling. Gold mineralization is hosted in strongly sericite plus/minus clay-altered schists with disseminated pyrite, arsenopyrite and stibnite. This program will refine drill targets for a 2010 drill program on the Boulevard property.
The Sizzler property comprises 36 claims (750 hectares) and is located approximately 65 kilometres southeast of Underworld’s Golden Saddle gold discovery. Previous work on the Sizzler property by Kerr-Addison Mines Ltd. (1985-86) discovered quartz stringers, quartz stockworks and silicified breccias over a 1.7 square-kilometre area, hosted in rhyolitic quartz feldspar dikes. Limited rock and soil sampling was completed with values in rock up to 1.06 g/t gold and up to 60 parts per billion (ppb) gold in soil samples.
Proposed work on the VO, CC and TAK properties include geological mapping, prospecting and soil sampling.
