Quartz Discovers a New Copper-Gold-Silver Porphyry at Jake Project in British Columbia
Quartz Mountain Resources (QZMRF) has announced a significant copper-gold-silver porphyry discovery at its Jake Project in British Columbia, 160 kilometers north of Smithers. The discovery came from a maiden seven-hole, 3,418-meter scout drilling program, with drill hole JK24-05 yielding combined copper intercepts totaling 355 meters.
The company has also acquired additional mineral claims surrounding the Jake discovery, potentially establishing an entire new porphyry copper-gold district. The most significant intersection in hole JK24-05 included 215.86 meters at 0.32% copper equivalent, with higher-grade sections showing up to 0.49% copper equivalent over 34.88 meters.
Following this discovery, Quartz plans to conduct drill delineation programs during 2025, starting at their Maestro Project (Phase One) and later at Jake (Phase Two). The Jake property shows geological similarities to the past-producing Bell Mine, currently owned by Glencore.
Quartz Mountain Resources (QZMRF) ha annunciato una significativa scoperta di un deposito di rame-oro-argento porfirico nel suo progetto Jake in Columbia Britannica, a 160 chilometri a nord di Smithers. La scoperta è emersa da un programma di perforazione esplorativa di sette fori e 3.418 metri, con il foro JK24-05 che ha rivelato intersezioni di rame per un totale di 355 metri.
L'azienda ha anche acquisito ulteriori diritti minerari attorno alla scoperta di Jake, potenzialmente creando un intero nuovo distretto di rame-oro porfirico. L'intersezione più significativa nel foro JK24-05 ha incluso 215,86 metri a 0,32% di equivalente rame, con sezioni di grado superiore che mostrano fino a 0,49% di equivalente rame su 34,88 metri.
Dopo questa scoperta, Quartz prevede di condurre programmi di delimitazione di perforazione nel 2025, iniziando dal loro progetto Maestro (Fase Uno) e successivamente a Jake (Fase Due). La proprietà di Jake mostra somiglianze geologiche con la ex-miniera Bell, attualmente posseduta da Glencore.
Quartz Mountain Resources (QZMRF) ha anunciado un importante descubrimiento porfirítico de cobre-oro-plata en su Proyecto Jake en Columbia Británica, a 160 kilómetros al norte de Smithers. El descubrimiento provino de un programa de perforación exploratoria inicial de siete pozos y 3,418 metros, siendo el pozo JK24-05 el que arrojó intercepciones combinadas de cobre que totalizan 355 metros.
La compañía también ha adquirido derechos mineros adicionales alrededor del descubrimiento de Jake, lo que podría establecer un nuevo distrito de cobre-oro porfirítico. La intersección más significativa en el pozo JK24-05 incluyó 215.86 metros a 0.32% equivalente de cobre, con secciones de mayor grado mostrando hasta 0.49% equivalente de cobre en 34.88 metros.
Tras este descubrimiento, Quartz planea realizar programas de delimitación de perforación durante 2025, comenzando en su Proyecto Maestro (Fase Uno) y luego en Jake (Fase Dos). La propiedad de Jake muestra similitudes geológicas con la antigua Mina Bell, actualmente propiedad de Glencore.
쿼츠 마운틴 리소스(QZMRF)는 브리티시컬럼비아의 제이크 프로젝트에서 중요한 구리-금-은 포피리 발견을 발표했습니다. 해당 지역은 스미더스에서 북쪽으로 160킬로미터 떨어져 있습니다. 이 발견은 7개의 구멍과 3,418미터로 이루어진 최초의 탐사 드릴링 프로그램에서 나온 것으로, 드릴 홀 JK24-05가 355미터에 달하는 구리 관통 결과를 보였습니다.
이 회사는 제이크 발견 주변에 추가적인 광물 청구권을 인수하여, 전혀 새로운 구리-금 포피리 지구를 설립할 가능성이 있습니다. 홀 JK24-05에서 가장 중요한 교차점은 215.86미터에서 0.32% 구리 동등을 포함하며, 더 높은 등급 구간에서는 34.88미터에 걸쳐 최대 0.49% 구리 동등을 보이고 있습니다.
이 발견에 이어 쿼츠는 2025년에 드릴 배치 프로그램을 진행할 계획이며, 먼저 마에스트로 프로젝트(1단계)에서 시작하고 나중에 제이크(2단계)에서 진행할 것입니다. 제이크 부지는 현재 Glencore가 소유하고 있는 옛 벨 광산과 지질학적 유사성을 보이고 있습니다.
Quartz Mountain Resources (QZMRF) a annoncé une découverte importante de porphyre de cuivre-or-argent dans son Projet Jake en Colombie-Britannique, à 160 kilomètres au nord de Smithers. La découverte provient d'un programme de forage exploratoire inaugural de sept trous et 3 418 mètres, le trou de forage JK24-05 ayant révélé des intersections de cuivre totalisant 355 mètres.
L'entreprise a également acquis des droits miniers supplémentaires autour de la découverte de Jake, établissant potentiellement un tout nouveau district de cuivre-or porphyrique. L'intersection la plus significative dans le trou JK24-05 a inclus 215,86 mètres à 0,32 % équivalent cuivre, avec des sections de qualité supérieure montrant jusqu'à 0,49 % équivalent cuivre sur 34,88 mètres.
Suite à cette découverte, Quartz prévoit de réaliser des programmes de délimitation de forage en 2025, en commençant par leur Projet Maestro (Phase Un) puis à Jake (Phase Deux). La propriété de Jake présente des similitudes géologiques avec l'ancienne mine Bell, actuellement détenue par Glencore.
Quartz Mountain Resources (QZMRF) hat einen bedeutenden Kupfer-Gold-Silber-Porphyrfund im Jake-Projekt in British Columbia, 160 Kilometer nördlich von Smithers, bekannt gegeben. Der Fund stammt aus einem ersten Bohrprogramm mit sieben Bohrungen und 3.418 Metern, wobei das Bohrloch JK24-05 kombinierte Kupferinterzeptionen von insgesamt 355 Metern ergeben hat.
Das Unternehmen hat zudem zusätzliche Mineralansprüche rund um die Jake-Entdeckung erworben und könnte somit einen vollständig neuen Kupfer-Gold-Porphyrdistrikt etablieren. Die bedeutendste Schnittstelle im Bohrloch JK24-05 umfasste 215,86 Meter bei 0,32 % kupferäquivalent, während höhergradige Abschnitte bis zu 0,49 % kupferäquivalent über 34,88 Meter aufwiesen.
Nach diesem Fund plant Quartz, im Jahr 2025 Bohrdelimitierungsprogramme durchzuführen, beginnend mit ihrem Maestro-Projekt (Phase Eins) und später bei Jake (Phase Zwei). Das Jake-Gelände zeigt geologische Ähnlichkeiten zur früher produzierenden Bell-Mine, die derzeit im Besitz von Glencore ist.
- New copper-gold-silver porphyry discovery with significant mineralization
- Acquisition of surrounding claims establishing potential new mining district
- Strong drill results with 355 meters of combined copper intercepts
- Strategic location with helicopter access and proximity to infrastructure
- Delineation drilling not starting until after Maestro project in H1 2025
- True thickness of mineralization currently unknown
- Additional capital likely needed for planned drilling programs
Company also acquires additional mineral claims surrounding Jake, hosting an entire new potential copper-gold porphyry district
VANCOUVER, BC / ACCESSWIRE / January 14, 2025 / Quartz Mountain Resources Ltd. ("Quartz" or the "Company") (TSXV:QZM)(OTC PINK:QZMRF) is pleased to announce the Company's maiden, seven hole, 3,418 meter scout core drilling program has made a new British Columbia ("BC") copper-gold porphyry discovery at its
Based on its successful drilling program, Quartz has also acquired a
In addition to releasing the Jake discovery news today, Quartz has also launched new social media and awareness initiatives including an updated Website (www.quartzmountainresources.com) and Corporate Presentation (https://www.quartzmountainresources.com/investors/presentation). Quartz will also be presenting Discovery Core from both Maestro and Jake at the upcoming Association of Mineral Explorationists' ("AME") Round Up on January 20 and 21 in booth #924 located in the Vancouver Convention Centre East.
Jake Discovery Highlights:
The discovery of a new copper-gold porphyry system at Jake, was highlighted by drill hole JK24-05, with combined announced Cu intercepts in the hole totaling 355 meters (see Table 1).
TABLE 1 Drill Hole JK24-05 Assay ResultsA | |||||||||
Drill Hole | Incl. | From (m) | To (m) | Int.1,2,3 (m) | CuEQ4 (%) | Cu (%) | Au (g/t) | Ag (g/t) | Mo (%) |
JK24-05 |
| 21.00 | 78.00 | 57.00 | 0.30 | 0.18 | 0.077 | 2.7 | 0.012 |
|
| 108.00 | 191.04 | 83.04 | 0.25 | 0.18 | 0.062 | 2.9 | 0.004 |
| Incl. | 108.00 | 125.22 | 17.22 | 0.42 | 0.29 | 0.090 | 7.6 | 0.005 |
|
| 234.14 | 450.00 | 215.86 | 0.32 | 0.23 | 0.083 | 2.7 | 0.005 |
| Incl. | 234.14 | 308.00 | 73.86 | 0.40 | 0.30 | 0.120 | 2.5 | 0.003 |
| and | 234.14 | 269.02 | 34.88 | 0.49 | 0.37 | 0.144 | 3.3 | 0.001 |
| Incl. | 347.00 | 395.57 | 48.57 | 0.39 | 0.29 | 0.093 | 2.9 | 0.006 |
Note A. See Notes to Table 2
Bob Dickinson, Chairman of Quartz commented, "We are excited to announce the discovery of the new Jake copper-gold-silver porphyry system. We believe our maiden seven hole scout program has determined the location of the system's center nearby hole JK 24-05, where the highest grades are anticipated. The detailed results from the 7 core holes provide Quartz the critical scientific vectors to target the core of the porphyry system in the next phase of delineation drilling. Early observations from our drill program suggest geological similarities between Jake and the geological environment at the past producing Bell Mine, currently owned by Glencore and located 160 km southeast of Jake."
Figure 1a. Jake Location and Access
Figure 1b. Jake Location and HDI's BC Successes
The Jake Project is one of two key projects being advanced by Quartz in BC. The Jake maiden drill program followed the very successful maiden drill program at the Company's Maestro Project. The maiden drilling program at Maestro discovered thick, high-grade, gold-silver lodes hosted within extensive precious metal mineralization (see Quartz news release dated April 9, 2024). These exciting discoveries at both Maestro and Jake support the Company's strategy of targeting high value, high demand projects that have strong potential for future transactions. Quartz has now commenced planning for drill delineation programs during 2025, starting at Maestro (Phase One) and later at Jake (Phase Two).
Figure 2. Potential New BC Porphyry Copper District Acquired
Mr. Dickinson added, "Equally significant as the new copper-gold-silver discovery at Jake is our growing understanding of the broader system. Porphyries often occur in clusters, and our data suggests we may be on the verge of defining an entirely new porphyry district at Jake. As a result of our Jake porphyry discovery, Quartz acquired a
The successful Jake drilling included seven exploration drill holes that were completed on a hill side from three Pad sites (see Figure 3). These scout drill holes were fanned out in multiple directions over an area measuring 1,000 meters east-west and 600 meters vertical. Hole 1 on Pad A intersected classic quartz-sericite-pyrite altered rocks found peripheral to most porphyry copper deposits. Holes 2,3,4,5 were fanned out from Pad B. These holes intersected a major porphyry copper-gold-silver system with Hole 5 being closest to the center of the system. Holes 6 and 7 drilled from Pad C intersected intervals of epithermal precious metal zones and veinlets (see anomalous Au and Ag assay results) associated with highly anomalous zinc.
Figure 3. Jake, A New Porphyry Cu-Au-Ag Discovery
The Jake porphyry discovery area is highlighted by a classic Induced Polarization chargeability donut shape signature (see Figure 4) commonly targeted by porphyry explorers.
Figure 4. Jake Discovery Section A-B
Figure 5. Highly Anomalous Cu-Au-Mo Values in Soils Above Jake Discovery
Assay results from the 7 scout core holes completed at Jake during the discovery drill program are listed in Table 2 below.
Table 2
Jake Discovery Drill Program Assay Results
Notes:
Widths reported are drill widths, such that true thicknesses are unknown.
All assay intervals represent length-weighted averages.
Some figures may not sum exactly due to rounding.
Copper equivalent (CuEQ) calculations use metal process prices of: Cu US
$4.00 /lb, Au US$200 0/oz., Ag US$25 /oz, and Mo US$15.00 /lb, and conceptual recoveries of: Cu85% , Au75% , Ag70% and Mo82% . Conversion of metals to an equivalent copper grade based on these metal prices is relative to the copper price per unit mass factored by conceptual recoveries for those metals normalized to the conceptualized copper recovery. The metal equivalencies for each metal are added to the copper grade. The general formula for this is: CuEQ% = Cu% + ((Au g/t * (Au recovery / Cu recovery) * (Au $ per oz./31.1034768 / Cu $ per lb. * 22.04623)) + ((Ag g/t * (Ag recovery / Cu recovery) * (Ag $ per oz./ 31.1034768 / Cu $ per lb. * 22.04623)) + ((Mo% * (Mo recovery / Cu recovery) * (Mo $ per lb.) / Cu $ per lb.)).
About Jake
The
Quartz's first ever drill test of 3,418 meters in 7 holes during 2024 discovered a new porphyry copper-gold-silver system leading to the acquisition of
Mineralization at Jake is situated within a prominent rusty coloured gossan measuring 3.5 km long by 1.5 km wide. Within the gossan is north-trending dyke swarms that intrude into sedimentary rocks. The combination of extensive historical and recent exploration work has outlined a very expansive altered area at Jake hosting epithermal and porphyry-style sulphide disseminations and veinlets containing Cu-Au-Ag-Zn-Mo and Re. To delineate deposit targets within this large Jake mineral system for the recent drilling program, a series of modern surface exploration programs were completed in the period 2018-2023. This exploration work included detailed airborne magnetic surveying, geological mapping, geochemical sampling/modelling and Induced Polarization ("IP") surveying. These exploration surveys were designed to build on very compelling historical data on the Property developed by legendary porphyry copper explorers, including Kennco, Canadian Superior, Cities Service, Placer Development and Teck Corp. Taken together this comprehensive Jake Project technical database defined a significant-scale porphyry copper-gold deposit target and associated epithermal precious metal deposit targets which Quartz has capitalized on.
About Maestro
The
Quartz's first ever drill test, a maiden two-hole drill program at the Prodigy Zone on the Maestro Property (reported by Quartz News Release dated April 9th, 2024) discovered exciting high-grade Au-Ag lodes, hosted within an extensive epithermal Au-Ag system. The lodes and the more disseminated precious metals, intersected by the drill holes are both hosted within a large and earlier deposited, Mo-Cu porphyry system. Quartz's second core hole, PR-23-02 intersected 102 m grading 2.22 g/t Au and 104 g/t Ag, including 12 m grading 1.23 g/t Au and 586 g/t Ag and also 36 m of 5.73 g/t Au and 87 g/t Ag. These results indicate high potential for both bulk tonnage and underground high-grade gold and silver mineralization. Notably, green sericite alteration reminiscent of deposits such as Blackwater, which is currently being placed into production near Vanderhoof plays a significant role at Prodigy. The discovery is open in multiple directions and at depth, promising significant further potential. The next milestone towards a transaction will be delineation drilling of the new Prodigy discovery at Maestro, currently being planned to commence in HI 2025.
The Maestro property has a rich exploration history dating back to 1914, primarily focusing on the 110 million tonne Lone Pine Mo-Cu porphyry deposit (see Quartz news release March 19th, 2024) also located on the property. Quartz's successful drilling was based on a target developed by its comprehensive exploration programs, including soil/silt geochemical sampling, IP geophysics, airborne magnetic surveys, hyperspectral studies and detailed relogging of historical drill core, along with assaying for gold, pulp samples derived from historical assaying of numerous core holes located across the Maestro property that had not been assayed for gold.
Quality Assurance/Quality Control Program
Quartz drilled NQ size core in the 2024 drilling program at JAKE. All drill core was logged, photographed, and cut in half with a diamond saw. Half core samples from the JAKE drilling were sent to ALS Canada Ltd., Kamloops, B.C., for preparation and were analyzed at ALS Canada Ltd., North Vancouver, B.C. Both are ISO/IEC 17025:2017 accredited facilities. At the laboratory, samples were dried, crushed to
Qualified Person
Farshad Shirmohammad, M.Sc., P.Geo., a "Qualified Person" within the meaning of National Instrument 43-101 - Standards of Disclosure for Minerals Projects, has reviewed and approved the scientific and technical information contained in this news release.
About Quartz
Quartz Mountain Resources Ltd. (TSXV: QZM, OTC Pink: QZMRF) is a well-structured public company headquartered in Vancouver, Canada. Its successful mine finding management is focused on discovering and transacting high-value gold, silver, and copper projects in British Columbia. The Company owns
Quartz is associated with Hunter Dickinson Inc. ("HDI"), a company with over 35-years of successfully discovering, developing, and transacting mineral projects in Canada and internationally. Former HDI projects in BC include, Mount Milligan, Kemess South, and Gibraltar - all of which are porphyry deposits with current or former producing mines. Other well-known projects with HDI involvement include Sisson and Prosperity in Canada, Pebble and Florence in the United States, and Xietongmen in China.
Quartz is committed to the advancement of important scale, critical and essential mining assets while following responsible mineral development principles, including a mandate to employ best practice approaches in the engagement and involvement of local communities, and meeting rigorous environmental standards.
On behalf of the Board of Directors
Robert Dickinson
Chairman
For further details, contact Robert Dickinson, Chairman at:
T: (604) 684-6365 or within North America at 1-800-667-2114.
E: info@quartzmountainresources.com
W: www.quartzmountainresources.com
TABLE 3 2024 Jake Drill Hole Locations | |||||||
Drill Hole | UTM | Easting | Northing | Elevation (m) | Length (m) | Azimuth (o) | Dip (o) |
JK24-01 | 9U | 603822 | 6233429 | 1097 | 461.5 | 300 | -50 |
JK24-02 | 9U | 603916 | 6233636 | 1208 | 557 | 300 | -50 |
JK24-03 | 9U | 603916 | 6233636 | 1208 | 383.5 | 345 | -50 |
JK24-04 | 9U | 603916 | 6233636 | 1208 | 300 | 45 | -50 |
JK24-05 | 9U | 603916 | 6233636 | 1208 | 573 | 300 | -80 |
JK24-06 | 9U | 604160 | 6233765 | 1210 | 570 | 70 | -50 |
JK24-07 | 9U | 604160 | 6233765 | 1210 | 572.8 | 70 | -85 |
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.
Cautionary Statement Regarding Forward-Looking Information.
This release includes certain statements that may be deemed "forward-looking-statements". All statements in this release, other than statements of historical facts are forward-looking-statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: the Company's projects will obtain all required environmental and other permits, and all land use and other licenses, studies and exploration of the Company's projects will continue to be positive, and no geological or technical problems will occur. Though the Company believes the expectations expressed in its forward-looking-statements are based on reasonable assumptions, such statements are subject to future events and third party discretion such as regulatory personnel. Factors that could cause actual results to differ materially from those in forward-looking statements include variations in market prices, continuity of mineralization and exploration success, and potential environmental issues or liabilities associated with exploration, development and mining
activities, uncertainties related to the ability to obtain necessary permits, licenses and tenure and delays due to third party opposition, changes in and the effect of government policies regarding mining and natural resource exploration and exploitation, and exploration and development of properties located within Aboriginal groups asserted territories that may affect or be perceived to affect asserted aboriginal rights and title, and which may cause permitting delays or opposition by Aboriginal groups, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, and the risks and uncertainties connected with its business, investors should review the Company's home jurisdiction filings as www.sedarplus.ca and its 20F filings with the United States Securities and Exchange Commission at www.sec.gov.
SOURCE: Quartz Mountain Resources Ltd.
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