TSX-V: QEX
- Twenty-two grab samples* indicating widespread gold-silver-copper mineralization on the eastern portion of the Castle Property, near GT Gold Corp.'s Tatogga Property:
- Four grab samples* collected over 28 metres ("m") from two parallel mineralized porphyritic dykes returned an average of 7.46 grams per tonne ("g/t") gold ("Au"), greater than (">") 62.6 g/t silver ("Ag") (overlimit analyses for two samples over 100 g/t Ag are pending) and 0.29% copper ("Cu"), including one sample with 22.2 g/t Au, >100 g/t Ag and 0.16% Cu (Table 1); and
- Six of eleven grab samples* collected from the Tuk showing, which is hosted in a monzonite intrusion along the Castle-Saddle Trend, yielded significant results with up to 0.43 g/t Au, >100 g/t Ag, and >1% Cu (Table 1).
- A new 4.8-line kilometre ("km") Induced Polarization ("IP") survey and a 3D-IP-inversion that incorporates the new, and all historical IP surveys (Figure 1). The new IP data:
- Indicates untested geophysical targets along strike of and beneath shallow drill holes at Castle Main and
Castle East ; and - Confirmed a parallel 2-km-long trend of strong chargeability, which persists to >300 m depth at Castle South, including an extension that indicates the anomaly may continue at least 1.25 km eastward. This 3.25-km-long highly prospective trend has never been drilled.
Table 1 Highlighted Results from 2020 Castle Grab Samples*: | |||
Sample | Au | Ag | Cu |
g/t | g/t | % | |
Gold- | |||
3692319 | 22.2 | >100 | 0.16 |
3692324 | 5.455 | 12.3 | 0.01 |
3692320 | 2.001 | 38.3 | 0.08 |
3692323 | 0.193 | >100 | 0.90 |
Copper | |||
3692305 | 0.049 | >100 | >1.00 |
3692311** | 0.434 | 3.7 | >1.00 |
3692309** | 0.145 | 17.7 | 0.49 |
3692310** | 0.049 | 3.7 | 0.23 |
3692308 | 0.025 | 20.5 | >1.00 |
3692307 | 0.021 | 1.8 | 0.24 |
Geochemical Results:
Twenty-two grab samples* (Table 2) and 211 soil samples were collected from the Castle Property during the 2020 field campaign. Results for all 211 soil samples and for overlimit copper and silver analyses from the grab samples are pending.
Four mineralized samples were collected from two parallel quartz-sericite-pyrite altered porphyry dykes (Table 1), which were observed and sampled over approximately 28 m strike length. These samples yielded 22.2, 5.5, 2.0 and 0.19 g/t Au, >100, 12.3, 38.3 and >100 g/t Ag, variable associated base metals and elevated As, Bi, Sb, Mo. They were collected 150 m upslope of a 2019 float sample that yielded 11.9 g/t Au and >100 g/t Ag. The metal tenor, epithermal-tracer-element association, and geological setting of these samples are analogous to GT Gold's nearby Saddle South epithermal-gold-silver system located less than 2 km to the northeast.
A further six mineralized samples were collected near the Tuk showing, over a 250 m transect across a monzonitic stock along the Castle-Saddle Trend, 1.6 km west of the claim boundary with GT Gold's Tatogga property. These samples contain between 0.23 and > 1% Cu, as well as anomalous gold, up to 0.4 g/t, and silver up to >100 g/t. The metal tenor of these samples indicates significant mineral potential along this portion of the Castle-Saddle Trend.
Geophysical Results:
The 2020 field campaign at Castle included successful completion of a 4.8-line-km IP survey over rugged ground near the eastern claim boundary with GT Gold's Tatogga property. The new IP data was combined in an inversion with 66-line-km from previous IP surveys to generate 3D chargeability and resistivity models that cover approximately 15-square-km.
The new 3D models reinforce
Modelling also confirms a strong buried chargeable body that parallels the Castle-Saddle Trend 1 km to the south (Castle South). The three new IP lines east of the Castle South anomaly define what may be an eastward extension (Figure 1); lines 101 and 501 detected increased chargeability on the southern extent of the survey, and line 701 identified a chargeability anomaly along trend to the east-southeast of Castle South. The intervening area is topographically unsuitable for IP surveys and therefore the continuity of the anomaly between Castle South and the eastern anomaly can only be hypothesised. Combined, Castle South and the eastern anomaly form a 3.25 km long trend of highly prospective geophysical anomalies that are mainly underlain by a thrust panel of Triassic sedimentary rock. The persistence of the anomaly to depth indicates that its source may lie beneath, and be disguised by, the thrust panel. The Castle South trend has not been tested by drilling.
Table 2: Full list of results from 2020 Castle Property Grab Samples | |||||||
Sample | Easting | Northing | Au | Ag | Cu | Mo | As |
NAD83 Z9 | NAD83 Z9 | g/t | g/t | % | g/t | g/t | |
3692301** | 432534 | 6407276 | 0.017 | 0.7 | 0.181 | 1.8 | 45.4 |
3692302 | 432383 | 6407304 | <0.005 | <0.1 | 0.012 | 0.2 | 1 |
3692303 | 431496 | 6408969 | <0.005 | <0.1 | 0.001 | 0.2 | 1.9 |
3692304 | 431496 | 6408937 | 0.005 | <0.1 | 0.000 | 0.3 | 2.2 |
3692305 | 431423 | 6409127 | 0.049 | >100.0 | >1.0 | 1.7 | 1.4 |
3692306 | 431490 | 6408996 | <0.005 | <0.1 | 0.003 | 0.3 | 1.9 |
3692307 | 431456 | 6409163 | 0.021 | 1.8 | 0.243 | 1.8 | <0.5 |
3692308 | 431413 | 6409123 | 0.025 | 20.5 | >1.0 | 0.5 | 0.6 |
3692309** | 431508 | 6408930 | 0.145 | 17.7 | 0.492 | 0.1 | 0.8 |
3692310** | 431547 | 6408941 | 0.049 | 3.7 | 0.231 | 1.6 | 0.6 |
3692311** | 431592 | 6408946 | 0.434 | 3.7 | >1.0 | 3.6 | 1.2 |
3692313** | 432674 | 6407111 | 0.005 | <0.1 | 0.005 | 2.8 | 3.5 |
3692314 | 432820 | 6408007 | 0.051 | 3.6 | 0.044 | 1 | 93.4 |
3692315** | 432461 | 6407406 | 0.069 | 2.6 | 0.666 | 52.2 | 1.2 |
3692316 | 431491 | 6408930 | 0.013 | 0.5 | 0.009 | 15.2 | 18.8 |
3692318 | 431490 | 6409144 | 0.006 | 0.2 | 0.004 | 0.5 | 4.6 |
3692319 | 431934 | 6407063 | 22.2 | >100 | 0.158 | 32.3 | >10000.0 |
3692320 | 431950 | 6407075 | 2.001 | 38.3 | 0.076 | 1.5 | 1872.1 |
3692321 | 432945 | 6407570 | 0.775 | 1.2 | 0.006 | 1.7 | 111.7 |
3692322 | 429917 | 6408715 | 0.054 | 7.3 | 0.463 | 1.2 | 4.4 |
3692323 | 431950 | 6407075 | 0.193 | >100 | 0.903 | 1.8 | 170.9 |
3692324 | 431934 | 6407092 | 5.455 | 12.3 | 0.012 | 20.4 | 708.6 |
We seek safe harbor.
Notes
* Grab samples are selective in nature, therefore reported mineralization and assay results may not be representative.
** Sample of "float" or rock that is not insitu. Therefore, results do not necessarily represent mineralization from the locality sampled.
Qualified Person
The Qualified Person responsible for the technical information in this news release is
QA/QC
Surface samples for the Castle 2020 exploration program followed chain of custody between collection and delivery to a Bureau Veritas ("BV") laboratory in
About
ON BEHALF OF THE BOARD OF DIRECTORS OF QUESTEX GOLD & COPPER LTD.
"Joseph Mullin"
Chief Executive Officer and Director
NR 21-01
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Neither the
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