- Q-Gold Resources (QGR) has commenced drilling on its wholly owned Mine Centre Property in Ontario for its 2022 exploration program
- The eight-hole program is designed to extend the known mineralization of the Bonanza and Jumbo veins previously mined at the Foley mine in the early 1900s to the north and northwest
- The program will also target coincident anomalies that were revealed by the LiDAR and MMI soil surveys completed over the summer
- Q-Gold Resources (QGR) is trading at C$0.05 as of 2:30 pm ET
Q-Gold Resources (QGR) has commenced drilling on its wholly-owned Mine Centre Property in Ontario for its 2022 exploration program.
The eight-hole program is designed to extend the known mineralization of the Bonanza and Jumbo veins previously mined at the Foley mine in the early 1900s to the north and northwest. The program will also target coincident anomalies that were revealed by the LiDAR and MMI soil surveys completed over the summer.
The CEO of Q-Gold, Dr. Andreas Rompel, said the campaign would enlarge their knowledge of the strike extent of the high-grade gold-bearing quartz veins around Foley Mine.
“[W]e are happy to have contracted Rodren again as our drilling company, who did such a marvellous job last year with great advance and brilliant recovery.”
Q-Gold holds mining claims, Crown leases and leasehold patents within the historic Mine Centre 1890’s gold camp, which produced 16,025 ounces of gold from the Foley Gold Mine and the Golden Star Mine.
The Foley Gold Mine was first developed in the 1890s. At this time, 10,500 tons of ore at 14 g/t was mined from stopes. Operations terminated in 1927 due to the onset of the Great Depression.
Previous drilling conducted by Q-Gold between 2005-2012 established the Foley Gold Mine as a large deposit of gold-bearing veins with an excellent picture of the mine’s gold potential from surface to the 122-metre level. High-grade gold intercepts over 2.78 metres were discovered from the combined 3 drilling holes.
The property has favourable logistics with immediate access to a highway. Other interest areas on the property include the McKenzie Gray Vein System. A gold-silver vein system with 6,594 m of drilling confirms the existence of a high-grade quartz vein down to 100 m. As well as the Golden Star, Manhattan, and Fergus Vein Systems, all high-potential gold vein prospects offering tremendous optionality at Mine Centre.
Q-Gold Resources Ltd. (QGR) is a Canadian mineral exploration company targeting high-grade gold and silver discoveries in multiple jurisdictions.
Q-Gold Resources (QGR) is trading at C$0.05 at 2:30 pm ET.
