THUNDER BAY, ONTARIO -- (Marketwired) -- 04/09/13 -- QRS Capital Corp. (TSX VENTURE: QRS) ("QRS" or the "Company") is pleased to announce the results of new property wide Induced Polarisation and ground Magnetic geophysical surveys at its Aurum Copper Project in Region III, Chile. These surveys were carried out between November 2012 and February 2013 and formed part of a property wide reconnaissance program designed to test for the extensions of the known mineralization at the Tobaco-Carmen deposits.
The new induced polarization (IP) survey outlines an open ended trend of weak-moderate chargeability highs, which include the historic chargeability anomalies observed over the Tobaco-Carmen mineralization, extending at least 5 km to the southwest and 2 km to the northeast of the Tobaco-Carmen mineralisation (see Figure 1). The IP data also outline a new chargeability trend (the East Trend) approximately 3 km east of West Trend. The chargeabilities of this trend are substantially higher than the West Trend, extend for an 8 km strike length and remain open to the north and south.
QRS's President Diego Benalcazar, stated, "The continuity of the geophysical trend beyond the known Tobaco-Carmen mineralization is remarkable. The correlation with the lithology that hosts the Tabaco-Carmen and Dolores mineralization together with the location of historical small-scale copper workings suggests that the anomalous West Trend has additional potential for copper mineralization". Mr. Benalcazar continues by stating "discovery of the new East Trend is very encouraging and supports our belief in the exploration potential of the newly staked land to the east." It is also important to note that this new East Trend is coincident with a 3.5 km shear zone and a number of old copper workings.
-- The new geophysics results confirms that the known 750 m long Tobaco- Carmen copper deposit sits within a 7 km long belt of anomalous chargeability (the West Trend) containing evidence of strong copper mineralization.-- The West Trend now appears to have strong exploration potential for the expansion of the historic Carmen resource and the discovery of several new mineralized targets.-- A new 8 km long IP chargeability anomaly (the East Trend) has been discovered approximately 3 km SE of the known West Trend containing the Carmen deposit-- Initial analysis of the magnetic survey data along the West Trend reveals the presence of several new anomalies that mirror the magnetic responses seen close to the Tobaco-Carmen area.
QRS has commenced a structured and multi-disciplined program of exploration that will result in the definition of a number of detailed exploration targets aimed at expanding the existing Carmen deposit and the discovery of additional adjacent deposits along the West Trend. A number of additional programs will be carried out to explore the remainder of the property, including the newly discovered East trend.
The geophysical survey was carried out by Argali Geofisica Chile E.I.R.L. Argali is an experienced geophysical contractor who has worked in a similar geological setting at the nearby Relincho Project. The IP data was acquired using a pole-dipole electrode array and a dipole spacing of 100 m which was expanded through seven separations (n= 1 to 8). A time-domain waveform with a frequency of 0.125 Hz (2 seconds) was employed. Nine NW-SE oriented lines, spaced 1 kilometre apart were completed for a total of 43 line kilometres of survey.
The ground magnetic survey was conducted along N-S orientated lines spaced 100 m apart. A total of 417 line kilometres of data were acquired as continuous profiles with readings every second of an approximate station spacing of approximately 0.5 to 1.5 m. Survey control was maintained with a high quality GPS system within the magnetometer. Complete UTM coordinates and elevation data were acquired simultaneously with each magnetic reading. The GPS datum was WGS84.
West Exploration Trend
The IP data show weak chargeability anomalies (highs) over the known Tabaco-Carmen mineralization, consistent with previous IP surveys. The new surveys show that these chargeability anomalies continue at least 5 km to the SW and 2 km to the NE and remain open in both directions. The chargeability trend usually correlates closely with deep conductive zones and a long linear magnetic low that may be associated with alteration. The trends also correlate with the same lithology that hosts the Tabaco-Carmen and Dolores mineralization and in some areas with small copper workings. The continuity of the geophysical trends suggests that the anomalous trend has exploration potential for additional copper mineralization.
Detailed analysis of the magnetic data is still underway and a detailed interpretation of both the West and East Trends will be released when available. However; preliminary analysis of the magnetic data has outlined several high magnetic areas on the western portion of the grid but the magnetic source does not appear to be reflected in the geologic mapping. A NE-trending magnetic low approximately 500 m wide and 8 km long is located to the east of these magnetic highs. This magnetic low encompasses most of the favorable altered lithology within the project area, including the Tabaco deposit.
Several zones along the West Trend show magnetic features similar to those seen in the Tobaco-Carmen area and those coincident with existing copper mineralization and other supporting geologic data are priority target areas for detailed mapping and sampling.
East Exploration Trend
The IP data also outline a second chargeability trend approximately 3km east of the West Trend. This "East Trend" extends for 8 km strike length and remains open to the north and especially to the south where chargeability is the highest. The East Trend chargeabilities are much higher than along the West Trend, suggesting increased local bedrock conductivity, possible due to the presence of pyrite. Copper sulphides may also be present since sporadic copper workings occur along the East Trend. More importantly, a 3.5 km long shear zone (with an observed width of approximately 5 to 12 m) hosting several old mining workings is situated on the same strike and location of the East Trend. Low resistivities are associated with East Trend, especially on the southernmost lines. Prior to additional geophysical exploration in the East Trend, it will be mapped in detail to determine the probable source of the chargeability anomalies.
To view Figure 1, "IP Chargeability," please visit the following link: http://media3.marketwire.com/docs/QRS49.pdf.
The technical information contained in this news release has been reviewed by Terence Walker, M.Sc., P.Geo., an independent qualified person for the purposes of National Instrument 43-101.
About QRS Capital Corp.
QRS is a mineral exploration company focused on exploration and development stage copper and gold targets in South America, particularly in Chile, Peru and Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
John Seaman, Chairman & CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about future, exploration results relating to the Aurum-Copper property, exploration plans for the Aurum-Copper property and the exploration potential of the Aurum-Copper property. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in the Company's disclosure documents. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither 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.
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