LAVAL, QUEBEC -- (Marketwire) -- 01/24/13 -- NQ Exploration Inc. ("NQ") (TSX VENTURE: NQE) is pleased to release the results of an initial resource estimate carried out on its 100% owned Carheil property.
At the request of NQE's management, Micon International Limited of Toronto (Micon) conducted a resource estimate for the mineralization contained in the Ag1 polymetallic zone discovered by NQE through its recent drilling programs on its Carheil Property. The resource estimate is included in a NI43-101 technical report dated December 15th 2012.
According to Micon's 43-101 compliant report, the Ag1 zone is a polymetallic zone with enriched values of lead, zinc, copper and gold in addition to the silver that remains unexplored to the northwest and open at depth in the Nordest area. NQE controls approximately 8 km of strike of the favourable stratigraphy; however, this potential remains hypothetical since the lithological units do not outcrop and very limited drilling was done west of the Nordest area.
Micon carried out a resource estimated of the Ag1 and Ag2 zones based on their silver content exclusively. Anomalous base metals as well as gold were not taken into consideration at this stage of development of the project given the absence of metallurgical studies on the mineralized material. Specific gravity measurements were not carried out by NQ personnel. Micon had no other option than to use the lowest possible value for this type of rock: 2.7 t/m3. Given the fact that the zones contain significant base metals (lead and zinc), it is understood that this value underestimates tonnage and silver content.
The following table gives a summary of Micon's resource estimate. Micon divided the resource into indicated and inferred categories reflecting the density of drilling along the deposit. It is estimated that the Ag1 zone contains 1,466,000 oz. of silver in the Indicated category while the Inferred resource for that structure totals 4,475,000 oz. Ag. The Ag2 zone contains an additional 277,000 oz. Ag in the Inferred category.
Carheil Project Mineral resource Summary for Nordest Area, as of 30 November 2012
---------------------------------------------------------------------------- Average Silver Grade Contained Mineralized Grade Group Volume Density (g/t SilverCategory Zone (g/t Ag) (m3) t/m3 Tonnes Ag) (oz)---------------------------------------------------------------------------- greater thanIndicated Ag1 100 63,000 2.7 170,000 185.9 1,014,000--------- -------------------------------------------------------- 50-100 77,000 2.7 209,000 67.4 452,000----------------------------------------------------------------------------Total: 50.0 140,000 2.7 379,000 120.5 1,466,000-------------------------------------------------------------------------------------------------------------------------------------------------------- greater thanInferred Ag1 100 135,000 2.7 364,000 160.1 1,874,000--------- -------------------------------------------------------- 50-100 403,000 2.7 1,088,000 74.4 2,601,000---------------------------------------------------------------------------- Subtotal 50.0 538,000 2.7 1,452,000 95.9 4,475,000---------------------------------------------------------------------------- greater than Ag2 100 7,000 2.7 20,000 101.2 65,000--------- -------------------------------------------------------- 50-100 34,000 2.7 92,000 72.0 212,000---------------------------------------------------------------------------- Subtotal 50.0 41,000 2.7 112,000 77.2 277,000----------------------------------------------------------------------------Total Ag1 + Ag2 50.0 579,000 2.7 1,564,000 94.6 4,755,000----------------------------------------------------------------------------Note : Resource tonnes and ounces have been rounded and may not total to therounding.
