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Additional Information
Market: TSX-V
Sector: Platinum & Precious Metals
EPIC: NQE
Latest Price: 0.06  (-8.33% Descending)
52-week High: 0.14
52-week Low: 0.04
Market Cap: 3.68M
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NQ Exploration Inc
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.

Full NQ Exploration Inc profile here
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NQ Exploration to option up to 80% of Brouillan gold property

13th Apr 2010, 2:05 pm
NQ Exploration to option up to 80% of Brouillan gold property

NQ Exploration (TSX-V: NQE) has received two options over the Brouillan gold property in Quebec from D'Arienne Resources (TSX-V: DAN) that could potentially take its interest in the project to 80%.

The first option covers a 50% interest for a consideration consisting of 700,000 shares in the company and C$500,000 in exploration expenses over a four year period and a further option for another 30% for producing a preliminary assessment.

Under the terms of the agreement, the first 50,000 shares will be issued at a price of C$0.20 per share, while the remaining 650,000 at a price equal to the closing price on the day preceding the issuance. Shares in the company last traded at C$0.15 per share.

The property consists of 15 claims covering 834 ha (hectares). NQ negotiated the options over Brouillan in conjunction with the staking of 80 claims for 2,865 ha to cover at least 8 km (kilometres) of the Nordest zone horizon to give NQ holdings covering a gravity anomaly with a coincident magnetic anomaly of about 7 km.

Reconnaissance work undertaken at the property by D’Arienne in 2008 showed the presence of strongly-silicified rhyolite outcrop hosting a sulphide stringer zone, which the company said enhanced Brouillan’s base metal potential. In addition to this, a 50 km electro-magnetic survey conducted on a 100 metre spacing identified multiple conductive anomalies, some of which do not appear to have been drilled. Compilation of earlier work revealed gold potential in holes drilled in the 1980s, which intersected intervals of 24.99 g/t (grams per ton) gold over 1.10 metres, 29.89 g/t gold over 0.60 metres and 8.26 g/t gold over 0.80 metres.

Last month, the company reported the results of a recent drilling campaign at its Carheil project, located in proximity of Brouillan. NQ said that many of the intersections were among the richest in the region, with the highlight being CA-2009-05, which included 10.5m at 1.66% zinc and 550 grams per tonne (gpt) silver.

The old Selbaie mine, which is located just a dozen km off Brouillan, has a historical production of 53 million tonnes grading 0.96% copper, 1.90% zinc, 40.7 g/t silver and 0.58 g/t gold.

NQ Exploration was established in the fall of 2007, and it main asset is its portfolio of 15 mining properties in the James Bay area of Quebec. The company is aiming to rapidly establish itself as a significant player on the Quebec and Canadian mining scene.

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