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Re: News Release - Friday, June 13, 2008
Update - Santa Rosa Project and Capoose-Silver Trend Project
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Silver Quest Resources Ltd. (the "Company") wishes to report on
exploration activities on two of its core projects:
Mexico - Santa Rosa Project
Significant progress has been made on the Phase 2 reverse circulation
drill program. To date eleven holes have been completed, comprising
1,160 metres, representing about 60% of the entire program. The Santa
Rosa property, is located approximately 175 kilometres east of
Hermosillo, Sonora, Mexico and represents a new discovery (fall 2008)
of potentially bulk-tonnage silver-lead-copper mineralization
consistent with a carbonate-replacement-deposit model. Multiple zones
of mineralization have been tested by the recent drilling. Drilling of
the Southeast zone encountered intense fracturing and faulting in three
holes, and additional road building has been completed to establish new
drill pads to test this target. The current drilling program is
expected to be completed by the end of June.
Sample preparation is being conducted by ALS Chemex in Hermosillo,
Sonora, with analysis completed by ALS Chemex in Vancouver, an ISO
9001:2000- and ISO 17025- accredited laboratory. Samples are taken on a
1.5 metre intervals (5 ft), crushed, pulverized and digested in a
four-acid solution. All elements were analyzed by induced coupled
plasma methods, and reported in parts per million. Over limits
(200-plus ppm silver) are assayed by a four-acid digestion with
conventional ICP-AES analysis (ME-OG62).
British Columbia - Capoose-Silver Trend Project
Early-stage exploration activities were initiated on the Capoose-Silver
Trend project in late May. Currently a crew of 14 are on the site,
completing geochemistry, geophysics and geological mapping. The
Capoose-Silver Trend property is easily accessible by roads from nearby
logging camps and is located approximately 185 kilometres
west-southwest of Prince George, British Columbia. The Capoose property
covers known mineralized zones and exploration targets indicative of a
large disseminated silver-gold system. Previous exploration by Granges
Inc. and Cominco Ltd. (now Teck Cominco Ltd.) from 1978 to 1984
outlined three zones of low-grade, disseminated silver-gold
mineralization at shallow depths, amenable to open pit mining. The
mineralization is hosted in garnetiferous rhyolite sills and hornfelsed
argillite. Historical resources (see Press Release January 17, 2008) on
zones 1 and 2 reported by Pan American Silver Corp. (1999 annual report
dated April 17, 2000, on SEDAR), are stated to be 28.22 million tonnes
averaging 36 grams per tonne silver and 0.34 grams per tonne gold (for
contained metal of 32.66 million ounces of silver and 308,500 ounces of
gold). This historical resource estimate completed by Pan American
Silver Corp. was not compiled within the definitions and standards
outlined in National Instrument 43-101, and the Company cautions that
these historic resource estimates cannot be relied upon.
Prior to the current program, the Capoose property had not been
explored since 1985. The current program covers the mineralized zones
deposits and a soil geochemical anomaly, known as the "Silver Trend",
extending for a strike length of 4.5 kilometres in a northeast
direction. This extensive soil geochemical anomaly is defined by a two
ppm silver threshold, and six principal targets defined with greater
than five ppm silver. This entire geochemical trend represents an
excellent exploration target to discover additional mineralization
similar to the historical Capoose deposit.
Robert Weicker, Pgeo, is the qualified person as defined by National
Instrument 43-101 for these projects, and has verified and supervised
preparation of the scientific and technical information in this
release.
"Silver Quest is an established Canadian junior exploration company
with a focus on silver and gold projects, with mineral properties in
B.C., Ontario, Yukon, Nevada, USA and Sonora, Mexico. For Silver Quest
property locations and information, visit the Company's web site at
www.silverquest.ca."
SILVER QUEST RESOURCES LTD.
"Randy C. Turner"
Randy C. Turner, Director
The TSX Venture Exchange has not reviewed and does not accept
responsibility for
the adequacy or accuracy of the content of this news release.
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Copyright (c) 2008 SILVER QUEST RESOURCES LTD. (SQI) All rights
reserved. For more information visit our website at
http://www.silverquest.ca/ or send mailto:info@silverquest.ca
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