- Q-Gold Resources (QGR) has completed drilling on its wholly-owned Mine Centre Property in Ontario for its 2022 exploration program
- The eight-hole program was 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 company gathered 280 geochemical samples over 15 line-km with five of the eight holes drilled intersecting their targeted vein systems
- Q-Gold Resources (QGR) is trading at C$0.03 at noon ET
Q-Gold Resources (QGR) has completed drilling on its wholly-owned Mine Centre Property in Ontario for its 2022 exploration program.
The eight-hole program was 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 also targeted coincident anomalies that were revealed by the LiDAR and MMI soil surveys completed over the summer.
The company gathered 280 geochemical samples over 15 line-km, with five of the eight holes drilled intersecting their targeted vein systems.
The CEO of Q-Gold, Dr. Andreas Rompel, said, “We generated targets and followed them up successfully with more gold-bearing quartz-vein intersections around Foley Mine.”
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 three combined 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 metres of drilling confirms the existence of a high-grade quartz vein down to 100 metres. 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$0.03 at noon ET.
