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's drill results reveal potential of near-surface silver zone
NQ Exploration (CVE:NQE) announced Thursday it has discovered strong silver mineralization at its Carheil project in Quebec, from the first hole of its 20,000-metre drill program, boosting the open-pit potential at the site.
The results of hole CA 2011-018, which is also the shallowest hole drilled on the property to date, revealed more and more of the potential of a near-surface silver zone, located 30 metres down, just below the overburden, the company said.
Assays from the hole found 32.0 metres grading 58.3 grams per tonne (g/t) silver, and 0.54% zinc, including a higher grade zone of 16.0 metres at 93.1 g/t silver, and 0.68% zinc.
NQ said these results call for a review of the deposition model and the metallogenic control of the silver zones, which the exploration company said appear to be larger than anticipated.
The first hole also intersected a copper zone, said NQ, with 2.05% copper and 14.4 g/t silver over 3.0 metres.
The Carheil property lies north of the Abitibi region in eastern Quebec, and consists of 121 claims covering 35.1 square kilometres.
The Laval, Quebec-based company plans to continue definition drilling near surface once it receives the assay results of two other holes drilled to test the near-surface silver zone above the 200-metre level.
Approximately 3,160 metres in nine holes have been drilled to date for NQ's ongoing drill program.
NQ's stock on the TSX-Venture Exchange rose 9.52% to trade at $0.115 per share as of 11:23 am EDT.