Quartz Mountain Completes 3,418 Metres of Core Drilling at Jake Property in British Columbia
Quartz Mountain Resources (TSXV:QZM)(OTC PINK:QZMRF) has completed 3,418 metres of core drilling in seven holes at its 100% owned Jake project in British Columbia. The company's goal is to discover a significant porphyry copper-gold-silver deposit. Core samples have been delivered to ALS Global for analysis, with results expected in early September. The Jake project is one of two key projects being developed by Quartz in BC, following initial drilling at the Maestro Project. The company is targeting high-value, high-demand projects with strong potential for mine development. Quartz Chairman Bob Dickinson expressed confidence that this drill program will advance the Jake opportunity, based on historical data suggesting a significant porphyry Cu-Au discovery potential.
Quartz Mountain Resources (TSXV:QZM)(OTC PINK:QZMRF) ha completato 3.418 metri di perforazione a carotaggio in sette pozzi nel suo progetto Jake, di proprietà al 100% in British Columbia. L'obiettivo della società è scoprire un significativo deposito di rame-oro-argento porfirico. I campioni di roccia sono stati consegnati ad ALS Global per l'analisi, con risultati attesi per inizio settembre. Il progetto Jake è uno dei due progetti chiave sviluppati da Quartz in BC, dopo le prime perforazioni nel progetto Maestro. La società sta puntando a progetti di alto valore e alta domanda, con un forte potenziale per lo sviluppo minerario. Il presidente di Quartz, Bob Dickinson, ha espresso fiducia che questo programma di perforazione avrà successo nel far avanzare l'opportunità di Jake, basandosi su dati storici che suggeriscono un significativo potenziale per scoperte di rame-oro porfirico.
Quartz Mountain Resources (TSXV:QZM)(OTC PINK:QZMRF) ha completado 3.418 metros de perforación a núcleo en siete agujeros en su proyecto Jake, de propiedad al 100% en Columbia Británica. El objetivo de la empresa es descubrir un depósito significativo de cobre-oro-plata porfirico. Las muestras de núcleo han sido entregadas a ALS Global para su análisis, y se esperan resultados a principios de septiembre. El proyecto Jake es uno de los dos proyectos clave que Quartz está desarrollando en BC, luego de la perforación inicial en el Proyecto Maestro. La compañía está enfocándose en proyectos de alto valor y alta demanda, con un gran potencial para el desarrollo minero. El presidente de Quartz, Bob Dickinson, expresó confianza en que este programa de perforación avanzará la oportunidad de Jake, basándose en datos históricos que sugieren un significativo potencial para descubrimientos de cobre-oro porfirico.
퀀츠 마운틴 리소스(주식 코드: QZM)(OTC PINK: QZMRF)는 브리티시컬럼비아에 위치한 100% 소유의 제이크 프로젝트에서 3,418미터의 코어 드릴링을 완료했습니다. 회사의 목표는 중요한 포르피리 구리-금-은 매장지를 발견하는 것입니다. 코어 샘플은 분석을 위해 ALS 글로벌에 전달되었으며, 결과는 9월 초에 발표될 예정입니다. 제이크 프로젝트는 퀀츠가 BC에서 개발 중인 두 개의 주요 프로젝트 중 하나로, 마에스트로 프로젝트에서 초기 드릴링을 진행한 후입니다. 회사는 광산 개발에 강력한 잠재력이 있는 고부가가치 및 고수요 프로젝트를 목표로 하고 있습니다. 퀀츠 의장인 밥 디킨슨은 역사적 데이터에 따라 중요한 포르피리 구리-금 발견 가능성이 있다는 점에서 이 드릴 프로그램이 제이크 기회를 진전시킬 것이라는 확신을 표현했습니다.
Quartz Mountain Resources (TSXV:QZM)(OTC PINK:QZMRF) a complété 3 418 mètres de forage à carottage dans sept forages sur son projet Jake, entièrement détenu, en Colombie-Britannique. L'objectif de l'entreprise est de découvrir un gisement significatif de cuivre-or-argent porphyrique. Les échantillons de carottes ont été livrés à ALS Global pour analyse, avec des résultats attendus début septembre. Le projet Jake est l'un des deux projets clés en cours de développement par Quartz en Colombie-Britannique, après les premiers forages sur le projet Maestro. L'entreprise vise des projets de grande valeur et de forte demande, avec un fort potentiel pour le développement minier. Le président de Quartz, Bob Dickinson, a exprimé sa confiance que ce programme de forage fera progresser l'opportunité de Jake, sur la base de données historiques suggérant un potentiel significatif de découverte de cuivre-or porphyrique.
Quartz Mountain Resources (TSXV:QZM)(OTC PINK:QZMRF) hat 3.418 Meter Kernbohrungen in sieben Löchern in seinem zu 100 % im Besitz befindlichen Jake-Projekt in British Columbia abgeschlossen. Das Ziel des Unternehmens ist es, ein bedeutendes porphyrisches Kupfer-Gold-Silber-Vorkommen zu entdecken. Die Kernproben wurden zur Analyse an ALS Global übergeben, und die Ergebnisse werden Anfang September erwartet. Das Jake-Projekt ist eines von zwei Schlüsselprojekten, die Quartz in BC entwickelt, nach den ersten Bohrungen im Maestro-Projekt. Das Unternehmen zielt auf Projekte mit hohem Wert und hoher Nachfrage ab, die ein starkes Potenzial für die Minenentwicklung aufweisen. Der Vorsitzende von Quartz, Bob Dickinson, äußerte sich zuversichtlich, dass dieses Bohrprogramm die Gelegenheit des Jake-Projekts voranbringen wird, basierend auf historischen Daten, die ein signifikantes potenzial für porphyrisches Cu-Au-Vorkommen nahelegen.
- Completed 3,418 metres of core drilling in seven holes at Jake project
- Targeting discovery of significant porphyry copper-gold-silver deposit
- Core samples delivered to ALS Global for analysis
- Results expected in early September
- Jake is one of two key projects being developed by Quartz in British Columbia
- None.
VANCOUVER, BC / ACCESSWIRE / August 21, 2024 / Quartz Mountain Resources Ltd. ("Quartz" or the "Company") (TSXV:QZM)(OTC PINK:QZMRF) announces that it has completed 3,418 metres of core drilling in seven holes at its
The work completed at Jake supports the Company's strategy of targeting high value, high demand projects that have strong potential for mine development in order to advance assets that are attractive to potential transaction partners.
"The completion of the 2024 drill program at Jake is a significant milestone for this project and for Quartz," said Quartz Chairman Bob Dickinson. "Now that the targeted drill program is complete, a total of 1,400 core samples from the Jake drill holes have been delivered to the lab for analyses and we are targeting early September for the release of the assay results. Historical data suggests a significant opportunity for an important porphyry Cu-Au discovery, and we are confident this recently completed drill program will advance the Jake opportunity."
The Jake project is one of two key projects being developed by Quartz in British Columbia. The Jake drill program follows initial drilling at the Company's Maestro Project which discovered an exciting high-grade, gold-silver lode hosted within extensive precious metal mineralization (see Quartz news release dated April 9, 2024).
"We remain focused on achieving important milestones on both the Jake and Maestro Projects, and the completion of this drill program represents an important step on the path to our ultimate transaction milestone. The Quartz team is committed to creating Canada's next great mineral success story," concluded Dickinson.
A total of 1,400 core samples from the seven Jake drill holes have now been received by ALS Global in Vancouver for analyses. Drill holes JK24-01 to JK24-05 tested for a concealed copper-gold porphyry system, and JK24-06 and JK24-07 tested outboard epithermal mineralization potentially related to a porphyry centre. Results from these drillholes will be released once they are received from the lab, compiled and interpreted. The Company is targeting early September for the release of the assay results.
As part of its commitment to responsible mineral development, Quartz is proud to provide economic opportunities for local and First Nation communities and looks forward to fostering new opportunities in the future. The drill program was diligently and safely completed by Apex Diamond Drilling from Smithers. HEG Exploration Services from Kelowna professionally oversaw all logistical and technical components. Effective drill pads were constructed by H.A. Butler Contracting. All drill program personnel were hosted by Valhalla Lodge where its staff provided quality room and board. Timely air support was provided by Contour Helicopters based at Burns Lake and Alpine Lakes Air from Smithers.
Table 1: Siting details of the seven completed NQ core holes at Jake, comprising 3,418 metres of core drilled
2024 Jake Drill Hole Siting Details | ||||||
Hole ID | Easting | Northing | Azimuth 0 | Dip 0 | Length m | Elevation m |
JK24-01 | 603820 | 6233429 | 300 | -50 | 461.50 | 1097 |
JK24-02 | 603916 | 6233636 | 300 | -50 | 557.00 | 1208 |
JK24-03 | 603916 | 6233636 | 345 | -50 | 383.50 | 1208 |
JK24-04 | 603916 | 6233636 | 45 | -50 | 300.00 | 1208 |
JK24-05 | 603916 | 6233636 | 300 | -80 | 573.00 | 1208 |
JK24-06 | 601460 | 6233765 | 70 | -50 | 570.00 | 1210 |
JK24-07 | 601460 | 6233765 | 70 | -85 | 573.00 | 1210 |
About Jake
The
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 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 high-potential 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 data base defined significant-scale epithermal precious metal deposit targets positioned above underlying porphyry copper-gold deposit targets. In July 2024, a 7-hole core drilling program was completed. The widespread drill holes were located on the side of a hill and intersected rock units stretching some 900 metres east-west and some 500 metres vertically (see Figure 1).
About Maestro
The
Maestro has a rich exploration history dating back to 1914, primarily focusing on the Lone Pine Mo-Cu porphyry deposit (see Quartz news release March 19th, 2024).The historical exploration was centered on base metal porphyry mineralization. The potential for precious metals in the surrounding area remained largely unexplored.
Since acquiring the property, Quartz has conducted comprehensive exploration programs, including soil/silt geochemical sampling, IP geophysics, airborne magnetic surveys, hyperspectral studies, detailed relogging of historical drill core, and assaying for gold, pulp samples derived from historical assaying of numerous core holes located across the Maestro property.
Quartz's first ever two-hole drill program at the Prodigy Zone on the Maestro Property (reported by Quartz News Release dated April 9th, 2024) made an important new precious metal deposit discovery. Quartz drilling discovered a high-grade Au-Ag lode, hosted within an extensive epithermal Au-Ag system. The lode and the more disseminated precious metals, intersected by the holes are both hosted within a large and earlier deposited, Mo-Cu porphyry system. 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 36 m of 5.73 g/t Au and 87 g/t Ag. The results indicate high potential for both bulk tonnage and underground high-grade mineralization. Notably, green sericite alteration reminiscent of deposits such as Blackwater-Davidson, which is currently being placed into production, plays a significant role at Prodigy. The discovery is open in multiple directions and at depth, promising significant further potential. Going forward the Company will prepare detailed plans to delineate the Prodigy discovery and assess numerous other epithermal and porphyry copper targets located laterally to the Property's Lone Pine Molybdenum deposit.
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 focused on acquiring, exploring, developing and transacting important scale gold, silver and copper deposits in British Columbia. 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
First drilling at Maestro has discovered a high-grade gold-silver lode within extensive precious metal mineralization all hosted within a large porphyry Mo-Cu system. At Jake drilling of 3,418 metres in seven core holes was completed in July 2024, with assays expected this September. Jake hosts a very large, altered mineral system with both epithermal precious metal and porphyry copper-gold geological characteristics. Like Maestro, management's expectations are the Jake drill results will support Quartz's strategy of developing high value, high demand projects.
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 included, 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
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.
View the original press release on accesswire.com
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