LAVAL, QUEBEC -- (Marketwired) -- 04/29/13 -- NQ Exploration Inc. (TSX VENTURE: NQE) is pleased to announce that it acquired a 100% interest in the Brouillan West property located to the west of its flagship Carheil property. The acquisition was made through the issuance of 1,000,000 common shares of the Company to the vendor. Previously, NQ owed the option to acquire a 50% interest in the property.
The Brouillan West property is located directly to the north-west and contiguous to the Carheil polymetallic property. It hosts a vein type gold showing but, its main focus of interest is that it potentially covers the favorable stratigraphy which host the Nordest showing on the Carheil property,
It should be remembered that the Nordest showing host polymetallic siver zones called Ag1 and Ag2. In 2012, NQ obtained an initial resource estimate for these zones. 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. 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. With the acquisition of the Brouillan West Property, 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.
This acquisition illustrates the will of the society to concentrate its short and medium term exploration efforts in the Selbaie mining district and to focus on important silver discoveries. The next phase of exploration should be to carry out ground geophysical surveys in order to properly locate the northwesterly extension of the favorable felsic units which host the polymetallic silver rich mineralization in the Nordest area.
Pierre O'Dowd, geologist and Vice President, Exploration of NQ Exploration Inc., has reviewed the technical content of this press release. Mr. O'Dowd is a qualified person under Regulation 43-101 respecting standards of disclosure for mineral projects.
ABOUT NQ EXPLORATION INC.
NQ Exploration Inc. is a mining exploration company with a solid portfolio of mining properties in the James Bay and Abitibi regions of Quebec. NQ Exploration Inc. is betting on Quebec's excellent mineral potential and favourable investment climate to produce new world-class gold and base metal deposits.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
President and Chief Executive Officer
Most Popular Stories
- Chobani Counters Competition With Expanded Lineup
- What to Expect From an Amazon Smartphone
- Clinton Sought GOP Support for Health Plan
- Saucedo Mercer Running on Empty in Arizona
- Spring Salmon Return to San Joaquin
- Auto Parts Plant Opening in Pa., Jobs on Tap
- IPO Market Shows Signs of Settling Down to Earth
- Pakistan Library Dedicated to 'Osama bin Laden, the Martyr'
- 'Beige Book' Federal Reserve Survey, April 2014: Full Text
- Venture Investments in U.S. Highest Since 2001