NQ Exploration Inc
en.nqexploration.com
en.nqexploration.com
NQ Exploration Inc. is a mining exploration company with a solid portfolio of 15 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, base metal and uranium deposits.
NQ Exploration is sitting on Quebec’s richest silver deposit at Carheil
NQ Exploration (CVE:NQE) is a Quebec based junior explorer with a portfolio of properties in the James Bay and Abitibi regions. The current exploration focus is primarily directed at the Caheil Silver Project, where a 20,000 metre resource definition drilling program is underway. The Lac Shortt Gold Project is also being tested on multiple targets with reconnaissance drilling.
The Carheil Property is 100% owned and located in the northern part of the Abitibi region, in Brouillan township, about 5,000 metres southwest of the historic Selbaie mine, which produced 53 million tonnes grading an average of 0.96% copper, 1.90% zinc, 40.7 g/t silver, and 0.58 g/t gold. The property covers 35.1 square kilometres and encompasses 121 contiguous claims that capture 13,500 metres of a west to northwest striking section along a favorable unit hosting copper and zinc mineralization.
An additional 15 claims covering 834 hectares contains a northwest extension of the same stratigraphy, and is held in a 50/50 joint venture with Arianne Resources (CVE:DAN) known as the Brouillan Ouest property.
Between 2009 and 2011 NQ Exploration discovered silver mineralization associated with a silicified rhyolite horizon known as the Ag1 Zone, which contains economic silver mineralization that extends from the surface and plunges to a depth of 600 metres, where the mineralization remains open. A gold zone was also discovered in the footwall of the Ag1 Zone, at a depth of 600 metres.
The silver in the Ag1 Zone is related to silicification and to zinc and lead stringer sulphides, and is heralded as the richest silver discovery in Quebec. Copper and gold are also intermingled within the altered felsic pile at deeper levels.
The entire system is known as the Nordest showing, and is similar to the style of mineralization that is typical of the Selbaie district. The Nordest showing is characterized by high silver values that are not seen anywhere else in the district.
The Carheil Property contains over 4,000 metres of the Nordest showing, which continues northwest for another 4,000 metres into the Brouillan Ouest Joint Venture ground. The remaining stratigraphy that runs to the southeast contains highly prospective felsic units that remain unexplored.
NQ Exploration completed a drilling program in the winter of 2011 that confirmed the continuity, quality and thickness of the Ag1 Zone below a depth of 400 metres, and developed a Gold Zone at a depth of approximately 600 metres. Near surface drilling delineated lower grade values at a depth of around 100 metres, and deeper drilling confirmed that the entire system remains open at depth.
Highlights from the 2009 and 2011 programs include Hole CA2009-05, drilled on the Ag1 Zone, which returned 524 g/t silver over 10.5 metres at a vertical depth of 400 metres. Hole CA2011-14 intersected the same zone some 75 meters above this intersection, returning an average grade of 231.7 g/t Ag and 0.87% Zn over 7.0 metres within a larger zone grading 104.7 g/t Ag and 0.62% Zn over 21.7 metres. This result compares well with Hole CA2009-05, which intersected an enrichment zone of 35.5 metres grading 170.7 g/t Ag.
Hole CA2011-15 cut through 10 intersections for a total of 64.9 metres of mineralization from a depth of 431.60 – 587.95 metres, with values ranging from 21.1 g/t -1,760.0 g/t Ag, and captured a record grade of 1,760 g/t Au over 0.45 metres at a vertical depth of about 450 metres, within an enriched zone that returned an average of 281.1 g/t Ag, 0.81% Zn and 0.24 g/t Au over 6.3 metres, demonstrating excellent vertical continuity.
A shallower Hole CA2011-17 intersected mineralization at 110.15 – 111.3 metres for 1.15 metres of 0.41% Cu, 2.19% Zn, 21.3 g/t Ag, and 0.12 g/t Au, and then multiple mineralized zones down to 237.55 metres with silver highlights at 182.05 metres for 0.35 metres at 4.01% Cu, 0.33% Zn, 237 g/t Ag, and 0.11 g/t Au.
The gold zone is now known to extend for almost 50 metres, and was identified in holes CA2011-012 and CA2011-13 which intersected a 14-metre section grading 2.06 g/t Au, 20.3 g/t Ag and 0.3% Zn, including a higher-grade section of 3.74 g/t Au, 38.8 g/t Ag and 0.5% Zn over 6.2 metres. An earlier hole CA2010-09, drilled last year, already indicated gold enrichment in this area, with a grade of 2.55 g/t Au, 15.5 g/t Ag, and 1.08% Zn, over 2 metres.
Drilling re-commenced in mid June of 2011, and will cover 6,000 – 8,000 metres by the end of the current calendar year, with the balance of the of 20,000 metre program completing in 2012.
The program will test a low grade zone that carries silver values of approximately 100 g/t Ag, from surface to a depth of 200 metres and will attempt to define open pit potential. Drilling will also define continuous higher grade mineralization from the 200- 400 metre level, seek out a higher grade lens of greater than 200 g/t Ag below the 400 metre level; and develop the gold zone that was identified at the 600 metre level.
The various zones on this system are open in multiple directions, and now provide NQ Exploration with the opportunity to develop significant resources within the project area from ongoing drilling. First assays from this drilling program are imminent. A ground geophysical survey conducted on the property and extending into part of the Brouillan Joint Venture ground will also help to identify additional drilling targets.
The Company has also commenced exploration on the Lac Shortt Project, where it can earn a 100% interest, and is contiguous with its Gand 1 Project, and contains the historic Lac Shortt mine that produced 2.7 million tonnes, at an average grade of 4.65 g/t Au. The property covers 12.55 square kilometres and consists of 76 contiguous claims that are located in the James Bay region, about 25 kilometres northeast of Desmaraisville, in the Chibougamau mining district.
Drilling targets include the South, West and East Zones, and Green Mica Schist Fault Recent scout drilling intersected 2 strong gold zones grading 6.40 g/t Au over 1.20 metres from a depth of 61.0 metres, and 11.55 g/t Au over 1.30 metres from a depth of 242.0 metres.
A 3 hole drilling program is planned on the eastern extension of the Lac Shortt mine and is planned to occur in winter, when swampy ground will be much firmer. Technical work has also identified gold bearing structures that run under a tailings pond and remain unexplored over a strike length of 700 metres, and remain open towards the surface and at depth.
