NQ Exploration Inc.: Work Planned for the Duncan Ouest Project
(firmenpresse) - LAVAL, QUEBEC -- (Marketwire) -- 09/29/11 -- NQ Exploration Inc. (TSX VENTURE: NQE) is pleased to report that its partner on the Duncan Ouest project, Murray Brook Minerals Inc. ("MBM"), is set to begin preliminary field work under an agreement whereby it can earn a 50% interest in the project.
MBM must invest a minimum of $1,400,000 over three years to earn its interest, including $600,000 before the first anniversary of the agreement (see press release dated February 17, 2011). The preliminary field program will consist of mapping and sampling, along with any other work deemed necessary to begin the next phase of work. MBM has budgeted $50,000 for this first phase of exploration.
The Duncan project is located in the James Bay territory of Quebec, approximately 35 km south of the town of Radisson. The property consists of 139 map-designated claims divided into two blocks that cover a total area of 71.17 km2.
The geologists' interest was attracted by geological reconnaissance and prospecting work done in the summer of 2008, which identified a sericite carbonate schist that returned anomalous gold, silver and zinc grades (grab sample #69608: 3.45 g/t Au, 1.4 g/t Ag and 381 ppm Zn), as well as a copper showing grading 4.6% Cu (grab sample). While preliminary, the geological, geochemical and geophysical data indicates a favourable setting for the discovery of volcanogenic copper-zinc mineralization and orogenic-type gold deposits.
Exploration NQ is also pleased to announce the launch of its new website, , providing information on the company and its properties. Visit the website to find out more.
Pierre O'Dowd, geologist and Vice President, Exploration of NQ Exploration, has reviewed the technical content of this press release. Mr. O'Dowd is a qualified person under Regulation 43-101 respecting standards of disclosure for mineral projects.
ABOUT NQ EXPLORATION INC.
NQ Exploration Inc. is a mining exploration company with a solid portfolio of 11 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 and base metal deposits.
Neither the 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.
Contacts:
David Grondin
President and Chief Executive Officer
(514) 206-7727
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Datum: 29.09.2011 - 12:30 Uhr
Sprache: Deutsch
News-ID 70917
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Town:
LAVAL, QUEBEC
Kategorie:
Mining & Metals
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