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Quest Uranium Expands 2010
Exploration Plans for Its Misery Lake REE Project, Northeastern Quebec
Highlights:
- Quest exploration work has defined a concentric, magnetically-ringed
geophysical feature, six-km in diameter
- 2009 exploration results returned important quantities of REE,
zirconium, niobium, iron, phosphorous, titanium and yttrium from a
magnetite-rich horizon identified by airborne magnetic surveys
completed by Quest
- 3-D Inversion interpretation of the airborne magnetics identified the
feature as relating to a continuous, concentric magnetic sheet ranging
up to 450 m in thickness and extending vertically down to two-km depth
- A 2,500-m reconnaissance diamond drilling program is planned for the
project and is expected to commence in August 2010.
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TORONTO, ONTARIO--(Marketwire - March 23,
2010) - Quest Uranium Corporation (TSX VENTURE:QUC) is pleased to
provide an update on exploration activities for the Corporation's
Misery Lake rare earth element (REE) project, northeastern Quebec.
Quest is significantly enlarging its exploration objectives for its
recently-discovered Misery Lake REE prospect (see Press Release:
November 19, 2009). The Corporation intends to undertake geological
mapping, rock and till geochemical sampling, ground geophysics and diamond
drilling to evaluate areas of REE mineralization in 2009 and to
evaluate new targets identified to the south of the ring-anomaly. The
Misery Lake project is located 195 km northeast of Schefferville,
Quebec and 120 km south of the Corporation's Strange Lake property,
northeastern Quebec (see Figure 1).
"We are very excited by the prospect of evaluating the rare earth
potential of the Misery Lake Intrusive Complex," said Peter J.
Cashin, Quest's President and CEO. "In addition to the definition
of what appears to be an important concentration of REE on the
property, all indications from our recent interpretation of the
airborne geophysics over the property and our recognition of additional
geological, geochemical and geophysical targets further to the south of
Misery Lake confirms our view that the project hosts very strong REE
potential."
2009 MISERY LAKE EXPLORATION SUMMARY
The Misery Lake prospect was identified by follow-up exploration over
an unusual Federal Government magnetic anomaly, 120 km south of Quest's
Strange Lake property. Early grab sampling in 2007 of part of the
magnetic ring-feature returned a surprising 2.25% TREO along with
strong iron (FeO), phosphorous (P2O5) and titanium (TiO2) values.
In the spring of 2009, Quest completed a detailed, 585 line-km airborne
radiometric and magnetic survey over the Misery Lake feature (see
Figure 2). The airborne geophysics was completed by MPX Geophysics of
Concord, Ontario. In addition, Quest compiled Government regional lake
bottom and stream-sediment geochemical data to supplement the
geophysical data. Both data files were used as a guide to exploration
crews to isolate the anomalous target areas on the property. Follow-up
sampling last summer of Quest's airborne geophysical survey over the feature
confirmed the presence of a strongly-magnetic ring anomaly having a
diameter of six-km. Sampling around the circumference of this ring
feature (see Table 1) returned even stronger results, up to 8.56% TREO,
42% FeO, 7.1% P2O5, 4.85% TiO2, 3% zirconium (ZrO2) and 2.7% niobium
(Nb2O5). Individual rare earth analyses returned up to 1.38% neodymium
oxide (Nd2O3), 1.57% yttrium oxide (Y2O3), 0.41% praseodymium oxide
(Pr2O3), 0.144% dysprosium oxide (Dy2O3), 0.15% gadolinium oxide
(Gd2O3) and 0.24% ytterbium oxide (Yb2O3). Values in excess of 0.97%
TREO represent 40% of the total samples collected on the property.
Mineralization is associated with magnetite-rich magmatic segregation
layers and zones of iron-enrichment within the peripheral intrusive
phase of the Misery Lake intrusive complex. The heavy REE (HREE)
content represented 13.0 % to 17.3% of the TREO but recent sampling has
identified a new area of REE enrichment returning upwards of 40.2 % and
59.0 % HREE. The apparent strike length of this anomaly is 20 km.
The success of the summer program at Misery and the identification of
several analogous geophysical, geochemical and geological features
further to the south, motivated Quest to stake a total of 790 km2 of
claims to protect these new target areas. These targets have strong
similarities to the character of both Quest's Strange Lake and Misery
Lake prospects.
Table 1- Best Assay Results from Grab Samples in Outcrop, Misery Lake
Project, Quebec
--------------------------------------- Sample Rock Type TREO (%) HREO (%) --------------------------------------- --------------------------------------- 203475 Syenite 8.56 14.5 --------------------------------------- 203476 Syenite 7.66 14.1 --------------------------------------- 203542 Syenite 7.39 15.4 --------------------------------------- 203631 Syenite 4.42 59.0 --------------------------------------- 203684 Syenite 6.49 16.7 ---------------------------------------
2010
EXPLORATION PROGRAM
Quest recently contracted Paterson, Grant and Watson of Toronto,
Ontario, to undertake high-level interpretation of its airborne
magnetic survey data at Misery Lake. Magnetic inversion work was
undertaken to develop a 3-D model of the ring magnetic feature defined
over the property. This work has led to the interpretation of an
inverted cone-shaped body with the walls of the cone being related to a
continuous, concentric magnetic sheet that is from 150 m to 450 m thick
and having a vertical extension of one to two km (see Figure 3). This
year's exploration will include geological mapping, rock and till
geochemical sampling, prospecting. A small 2,500-m reconnaissance
diamond drilling program is also planned.
Quality Control
Mr. Peter Cashin, P. Geo., is the qualified person on the Misery Lake
Project under National Instrument 43-101 and was responsible for this
news release. Material for analysis has been obtained from grab samples
from outcrop and boulders. A strict QA/QC program is followed which
includes the use of elemental standards, duplicates and blanks.
Analyses were performed by Activation Laboratory Limited of Ancaster,
Ontario.
About Quest Uranium
Quest Uranium Corporation is a Canadian-based, exploration company
focused on the identification and discovery of new world-class Rare
Earth deposit opportunities. The Corporation is publicly-listed on the
TSX Venture Exchange as "QUC" and is led by a
highly-respected management and technical team with a proven mine-finding
track record. Quest is currently advancing several high-potential
projects in Canada's premier exploration areas: the Strange Lake area
of northeastern Quebec, the Kenora area of northwestern Ontario and the
Plaster Rock area of northwestern New Brunswick. Quest's 2009
exploration led to the discovery of a significant new Rare Earth metal
deposit, the B-Zone, on its Strange Lake property in northeastern
Quebec. The Corporation is currently completing a 43-101 Resource
Estimate and Metallurgical study as part of an on-going economic
evaluation of the deposit. Quest continues to pursue high-value project
opportunities throughout North America.
This news release contains statements that constitute
"forward-looking information" or "forward-looking
statements" within the meaning of applicable securities
legislation. This forward-looking information is subject to numerous
risks and uncertainties, certain of which are beyond the control of
Quest Uranium Corporation ("Quest"). Actual results or
achievements may differ materially from those expressed in, or implied
by, this forward-looking information. No assurance can be given that
any events anticipated by the forward-looking information will
transpire or occur, or if any of them do so, what benefits that Quest
will derive therefrom. Forward-looking information is based on the
estimates and opinions of Quest's management at the time the
information is released. Quest does not undertake any obligation to
update publicly or to revise any of the forward-looking statements,
whether as a result of new information, future events or otherwise,
except as may be required by applicable securities laws.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/quc323FIG1.pdf
To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/quc323FIG2.pdf
To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/quc323FIG3.pdf
Neither 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
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