- Q-Gold Resources (QGR) has begun an MMI soil geochemical survey over the Foley Mine area on its wholly-owned Mine Centre Property
- This is part of the company’s 2022 exploration program
- The lack of suitable B-horizon soil development over the property led to the preference of MMI over the conventional method of soil sampling
- The Foley Gold Mine was first developed in the 1890’s
- Q-Gold Resources is a publicly traded Canada-based mineral exploration company targeting high-grade gold and silver discoveries in multiple jurisdictions
- Q-Gold Resources Ltd. was unchanged at $0.055 at 1:52 PM ET
Q-Gold Resources (QGR) has kicked off an MMIsoil geochemical survey over the Foley Mine area on its Mine Centre Property.
The geochemical survey is part of the company’s 2022 exploration program.
The MMIsoil survey is designed over 20 line-km with samples being collected at nominal 50m spacings over the Foley Mine and environs.
The lack of suitable B-horizon soil development over the property led to the preference of MMI over the conventional method of soil sampling.
Of note, MMIwas instrumental in the targeting of the exploration drilling which led to the discovery of the Intrepid Zone at Rainy River, owned by New Gold Inc.
Once the sample program has been completed, the samples will be shipped to SGS Mineral Services in Burnaby, British Columbia for analyses.
“The MMIsoil geochemical survey represents yet another step along the way to generate more targets for the pending drilling campaign,” stated Dr. Andreas Rompel, Chief Executive Officer of Q-Gold.
“The previously intersected gold-bearing quartz veins have not been tested for their full strike extent away from the vicinity of the old mines and shafts, which will enable us to better define the exploration program for the next years,” he added.
Q-Gold holds 10,000+ acres of contiguous mining claims, Crown leases and leasehold patents located 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 1890’s, with the sinking of the Foley Shaft to the 400’ level.
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 m level.
Q-Gold Resources is a publicly traded Canada-based mineral exploration company targeting high-grade gold and silver discoveries in multiple jurisdictions.
Q-Gold Resources Ltd. was unchanged at $0.055 at 1:52 PM ET.
