Vancouver - QuestEx Gold & Copper Ltd. (TSX-V: QEX; OTCQX: QEXGF) ('QuestEx' or the 'Company'), is pleased to announce results from a reconnaissance prospecting and geophysical campaign conducted in summer 2021 at Black Bluff, which is located on QuestEx's 100% owned, 312 square kilometre ('km') KSP property in the heart of British Columbia's prolific Golden Triangle district.
Black Bluff is one of three large and high-grade gold ('Au') and copper ('Cu') targets that were explored by QuestEx in 2021 at KSP. Inel Gold, Sericite Ridge and Black Bluff now constitute three high-priority, high-potential, drill-ready targets that will be the focus of QuestEx's anticipated 2022 exploration campaign on the KSP property.
The 2021 exploration program at Black Bluff consisted of a 3.8-km-long geophysical Induced Polarization ('IP') reconnaissance survey line, collection of twenty-two samples from surface outcrops, and preliminary detailed mapping.
Highlights of the results include: Recognition of a buried, approximately 1,100 m long geophysical chargeability anomaly that underlies the main Black Bluff showing, an area with a coincident strong magnetic anomaly, extensive outcropping quartz-magnetite veins and moderate to strong quartz-sericite-pyrite alteration, all of which are interpreted to be related to a porphyry Cu-Au system.
Identification of a 90 X 25 metre ('m') exposure of a gold and copper-rich quartz-breccia zone that remains open along strike and has never been tested by drilling; best 2021 sample from this zone grades 51.7 grams per tonne ('g/t') Au, 370 g/t silver ('Ag'), and 3.47% Cu from a 0.25 m channel sample.
Collection of samples within a 4 by 5 km area demonstrating a wide-spread distribution of high-grade mineralization, with maximum grades of 51.7 g/t Au, 702 g/t Ag, 23.83 % Cu and 10.26% zinc ('Zn').
Joe Mullin, QuestEx CEO comments: 'We are pleased to be in a position to report these results from Black Bluff which underline the value and continued exploration potential of our KSP property. The regional context of the district surrounding KSP has seen significant recent activity in terms of exploration, development and corporate activity, and KSP continues to be one of the most under-explored properties in the district. We are also happy to have the new QEXGF ticker on the OTC Best Market.'
Tony Barresi, QuestEx President comments: 'QuestEx's 2021 exploration campaign on the KSP property continues to yield excellent results, now delineating a third drill-ready, high-potential target on the property. The Black Bluff area includes at least eight mineral showings, each with extensive outcropping zones of high-grade copper and/or gold mineralization. Despite being one of the most accessible showings on the property, with parts of it visible from QuestEx's road accessible camp, it has only been tested with 197 metres of historical drilling in nine holes with maximum hole depths of only 48 metres. Our new prospecting, sampling, and mapping results have validated historical work, and the new geophysical survey defines a strong and large chargeability bullseye beneath one of the most well mineralized surface exposures, delineating yet another first order drill target on this outstanding property.'
About Black Bluff Area
Black Bluff encompasses an approximately 5 by 4 km area that contains numerous domains of outcropping mineralization defined by over 500 anomalous to high-grade rock samples from base and precious metal bearing skarns, high grade Au-Ag-Cu quartz vein breccias, and quartz-magnetite vein stockwork occurrences. It is located approximately 2 to 6 km south of the McLymont road/hydroelectric power station and QuestEx's camp facilities. Until recently, fragmented mineral tenure and glacial cover had prevented recognition that the widely distributed gold-rich breccia and skarn mineral showings may represent a high-level gold-rich expression of a porphyry system with potential for significant Cu-Au metal endowment. Coring the broad Black Bluff area, the main Black Bluff showing has characteristics typical of a porphyry-centre: it is located within a 1 x 1 km Cu-Au-Zn-molybdenum ('Mo') in soil anomaly and is associated with sheeted and stockwork quartz-magnetite-chalcopyrite veins, moderate to strong quartz-sericite pyrite alteration, multiple intrusive phases, and structural zones. In 2002, the area was tested with nine very shallow, small diameter (BQ) drill holes totalling 197 m, with an average drill hole depth of 22 m (BC Assessment Report #27193). The deepest hole (BX02-06) collared in skarn mineralization and bottomed at 48 m in an altered monzonite intrusion, which is described as having six stages of veining. Other drill holes are described to have collared in 'massive K-feldspar with quartz and magnetite stockwork', or as having 'intense, banded quartz-magnetite veining throughout the hole'. Core recovery was not well recorded for these historical drill holes, but limited results include 1.21% Cu, 1.09% Zn and 0.42 g/t Au over 3.50 m in BX02-04, which is contained within a broader mineralized interval of 0.55% Cu, 0.77% Zn, 0.32 g/t Au over 11.5m, the full length of the drill hole.
About QuestEx
QuestEx Gold & Copper Ltd. is exploring for gold and copper with a focus on the Golden Triangle and Toodoggone areas of BC, Canada. It has a 100% ownership interest in one of the largest portfolios of mineral tenures in British Columbia's metal-rich Golden Triangle. The portfolio includes the 312 square km KSP property, which is surrounded by some of the most important past and current mining and development projects in BC (e.g. Eskay Creek, Snip, Brucejack, KSM, Johnny Mountain). In 2022, QuestEx intends to release a NI 43-101 Mineral Resource Estimate for the Inel gold system, located on the KSP property. In the northern corner of the Golden Triangle in the Red Chris mining district, QuestEx's portfolio includes the Castle property, a porphyry copper-gold project located adjacent to Newmont's Tatogga property, and along trend of the Saddle North porphyry copper-gold deposit (more than 10 million ounces gold, in all categories). Other properties include North ROK, Coyote, and Kingpin in the Golden Triangle, Sofia in the Toodoggone district, and Heart Peaks and Hit in other strategic districts within BC. These assets are being advanced by a newly assembled technical and management team with experience in exploration, permitting and discovery.
Contact:
Joseph Mullin
Tel: (250) 768-1511
Web: www.questex.ca
Cautionary Note Regarding Forward-Looking Statements
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as 'seek', 'anticipate', 'believe', 'plan', 'estimate', 'expect' and 'intend' and statements that an event or result 'may', 'will', 'should', 'could' or 'might' occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, are forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators as well as the risk that the ongoing COVID-19 pandemic may have on the Company's business. Important factors could cause actual results to differ materially from QuestEx expectations.
Forward-looking statements are based on estimates and opinions of management at the date the statements are made. QuestEx does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
QUESTEX GOLD & COPPER LTD. 
