|
TORONTO,
ONTARIO--(Marketwire - Oct. 15, 2009) - Quest Uranium Corporation (TSX
VENTURE:QUC) is pleased to report that additional assay results from
diamond drilling of their B-Zone rare earth element (REE) deposit (see
Press Release : September 23, 2009, Figure 1) continues to firm up the
significant resource potential of the zone. Quest has now received
strong REE drill assay grades over a minimum strike of 700 m of the 1.0
km strike length defined in drilling for the zone. The widths of the
mineralized envelope have increased to at least 450 m (see Figure 2)
and the mineralized envelope is at least 123.0 m in vertical thickness
(up from 101.0 m). Lab results for holes BZ-09-004 to 008 returned
multiple, high rare earth elements+yttrium (REE+Y) grade intersections
of between 1.11 % and 2.52% over thicknesses of 3.0 m to 89.5 m. Heavy
REE (HREE) represents between 34.8% and 60.7% of the Total REE (TREO)
content intersected in the new drilling. This observation appears to be
consistent with the HREE contents observed from all previous work on
the zone. Strong values of zirconium (Zr), niobium (Nb), hafnium (Hf)
and beryllium (Be) continue to characterize the REE intercepts and have
the potential to contribute important resource value to the mineralized
zone. Mineralization continues to be open to resource expansion in all
directions. Drilling from these subsequent drillholes stopped in
mineralization and gives inference of a new area of REE mineralization
below the level of previously-reported holes.
"Definition drilling on the B-Zone continues to support
management's view that the B-Zone potentially represents a very-large
rare earth resource which would be potentially amenable to open-pit
mining and is building to be much larger than the historical IOC
deposit," said Peter Cashin, Quest's President & CEO.
"The B-Zone's surface area and vertical thickness profile
continues to expand and, as observed in lower third of hole BZ-09-006,
drilling appears to be defining new, thick sections of good grade
mineralization below previously-reported drillholes. This new area of
mineralization will be tested in next year's exploration program
through deepening our earlier drilling and will add important
supplemental resources to the project. In addition, drill results are
showing an important northeast-plunge to the highest grades and
thickest sections returned thus far. Our crews are truly getting a
handle on the controlling structures of the best mineralization
observed and will be used to guide future drilling."
B-Zone Definition Drill Program
Assays have been received from five additional vertical drillholes
totaling 584.0 m. Drill results have confirmed strong REE
mineralization over 700 m of the 1.0 km strike length of the B-Zone
defined in drilling and over widths of at least 450 m. Hole spacing of
between 100 m and 200 m (see Figure 3) was used in the definition drill
program. Drilling continues to confirm mineralization to be relatively
flat-dipping and is exposed at the outcrop surface. Holes herein
reported continue to intersect strongly mineralized pegmatites and
intensely altered and mineralized granite. The existence of a deep zone
of mineralization, as defined by hole BZ-09-006 (see Figure 4, 5,
appears to open up a new area of resource potential below the bottom of
previously-reported drillholes BZ-09-001 and -002. The surface
footprint of the B-Zone mineralization is expressed as a two km-long,
northeast-trending airborne radiometric anomaly northwest of the
Strange Lake Main Deposit (historical resource estimate, pre-National
Instrument 43-101; Venkatswaran, 1983 - 52 million tonnes @ 3.25% ZrO2,
0.56% Nb2O5, 0.66% Y2O3, 0.12% BeO and 1.30% TREO). The radiometric
anomaly abuts to the northwest against Brisson Lake and may extend
further under the lake. Historical IOC drilling indicates that
mineralization continues in this direction.
The best results returned from the five more holes of the program,
representing 584.0 m of drilling, are:
Borehole # From (m) To (m) Length (m) TREO + Y (%) HREE (%) ---------------------------------------------------------------------------- BZ-09-004 21.0 23.0 2.0 1.26 46.6 32.0 40.13 8.13 1.19 37.3 including 35.0 40.13 5.13 1.30 37.6 BZ-09-005 11.0 43.76 32.76 1.14 48.3 including 25.0 43.76 18.76 1.29 49.9 and including 25.0 34.0 9.0 1.21 49.4 and including 36.0 43.76 7.76 1.52 46.6 63.0 71.0 8.0 1.21 34.8 117.0 125.0 8.0 1.13 30.5 Note: Drill was stopped in mineralization at 125.0 m. BZ-09-006 76.0 111.0 35.0 1.09 47.1 including 76.0 82.0 6.0 2.02 43.1 and including 94.0 97.0 3.0 1.36 49.1 and including 98.0 101.0 3.0 1.18 60.7 and including 107.0 111.0 4.0 1.13 43.0 Note: End of hole at 112.5 m, open to further exploration. BZ-09-008 4.0 93.5 89.5 1.11 42.4 including 11.0 22.32 11.32 1.69 46.9 and including 28.93 33.0 4.07 2.52 48.9 and including 36.0 40.0 4.0 1.35 45.6 and including 55.0 58.0 4.0 1.27 53.2
Where: Be equals beryllium,
Zr equals zirconium, Y equals yttrium, Nb equals niobium, La equals
lanthanum, Ce equals cerium, Nd equals neodymium, Sm equals samarium,
Pr equals praseodymium, Eu equals europium, Gd equals gadolinium, Tb
equals terbium, Dy equals dysprosium, Lu equals lutetium, Tm equals
thulium, LREE equals light rare earth elements, HREE equals heavy rare
earth elements, TREE equals Total Rare Earth metals, TREO equals Total
Rare Earth Oxides.
The B-Zone rocks continue to be characterized as highly hematite and
specularite-altered and fluorite-mineralized Strange Lake alkali
granite (see Figure 4). The principal rare earth minerals observed in
the core are Zircon (Zr, Hf, silicate), Gittinsite (Zr, silicate),
Xenotime (Y, HREE, phosphate), Pyrochlore (Nb, Ta, fluoride),
Gadolinite (REE, Zr silicate) and Allanite (LREE silicate).
The better grades of mineralization appear to be related to the
equigranular aplitic and pegmatitic phases of the host granite. The
highly-altered granite hosting the aplites and pegmatites continues to
carry elevated grades of REE over the entire length of the drilling.
Strong bulk-grade intersections were returned from drillholes BZ-09-005
(1.0% REE+Y over 123.0 m) and BZ-09-006 (0.91% REE+Y over 108.5 m). In
addition to REE, the mineralized zone has elevated concentrations of
zirconium, niobium, beryllium, and hafnium which could add to the
resource value of mineralization on the property. Bulk sampling of the
B-Zone mineralization will be shipped soon to Hazen Research, Inc. of
Golden, Colorado for pilot metallurgical testing during the winter
period. It should be noted that Hazen was responsible for the
successful metallurgical work completed for the Strange Lake deposit
under contract to IOC in the 1980's.
43-101 Preliminary Resource Estimate
An inferred resource estimate for the B- and Main zones will be
calculated once all of Quest's diamond drilling and core analysis work
is completed and all exploration data from the 2009 program is
compiled. The data will be handed over to Wardrop Engineering Inc., of
Toronto, Ontario, in December for commencement of the work. It is
anticipated that this resource estimate will be completed sometimes in
the Q2 2010.
Quality Control
Mr. Peter Cashin, P. Geo., is the qualified person on the Strange Lake
Project under National Instrument 43-101 and was responsible for this
news release. Material for analysis has been obtained from drill core
which was cut in half using a diamond saw. Half of the core was sent to
the lab for analysis, with the remaining half left on-site for future
reference. 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.
The 1983 historical mineral resource estimate referred to in this press
release was prepared before the introduction of National Instrument
43-101. No qualified person has undertaken sufficient work to classify
this historical resource estimate as current mineral resources or
mineral reserves. Accordingly, Quest is not treating the historical
resource estimate as current mineral resources or mineral reserves, as
defined in National Instrument 43-101, and the historical resource
estimate referred to in this press release should not be relied upon.
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 Company 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 continues to
pursue high-value project opportunities throughout North America.
This press release may contain "forward-looking statements".
Readers are cautioned that any such statements are not guarantees of
future performance and that actual developments or results may vary
materially from those in these "forward looking statements".
To view Figure 1 - Strange Lake Project Location Map, George River
area, Quebec, please visit the following link: http://media3.marketwire.com/docs/qucfig1.pdf
To view Figure 2 - B-Zone REE Discovery Compilation and Proposed
Drillhole Location Map, Strange Lake Project, Quebec, please visit the
following link: http://media3.marketwire.com/docs/qucfig2.pdf
To view Figure 3 - B-Zone Drillhole Location Map, Strange Lake Project,
Quebec, please visit the following link: http://media3.marketwire.com/docs/qucfig3.pdf
To view Figure 4 - B-Zone Drill Section, Strange Lake Project, Quebec,
please visit the following link: http://media3.marketwire.com/docs/qucfig4.pdf
To view Figure 5 - B-Zone Drill Section, Oblique View, Strange Lake
Project, Quebec, please visit the following link: http://media3.marketwire.com/docs/qucfig5.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
|