Silver Quest Commences Exploration in the White Gold District, Yukon
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/01/11 -- Silver Quest Resources (TSX VENTURE: SQI) ('Silver Quest' or 'the Company') is pleased to announce the commencement of 2011 exploration activities on its properties in the White Gold District, Yukon. The Company has 17 separate properties in the District, which are comprised of approximately 4,000 mineral claims and covering approximately 85,000 hectares. For further details on property locations, please visit the Company's website www.silverquest.ca.
The 2011 exploration program will consist of approximately 15,000 metres of diamond drilling, 20,000 soil samples, geological mapping and airborne geophysical surveying. This work is estimated to cost $5 million. Exploration will begin at the Company's Prospector Mountain and Boulevard projects, both of which were explored during 2010.
Prospector Mountain Project
The Prospector Mountain Project is located 90 kilometres northeast of Carmacks and is comprised of 271 contiguous mineral claims covering approximately 5,500 hectares. In 2010 Silver Quest better defined the Bonanza Zone, a 1,600 metre long anomalous trend within the Prospector Mountain property. Select rock samples from the Bonanza Zone returned up to 109 grams per tonne (g/t) gold, 543 g/t silver and 1.63% copper (see news release from August 4, 2010). Geochemical soil sampling has commenced. The Company intends to complete additional geophysical surveys and sampling followed by diamond drilling to test the extent of the Bonanza Zone both along strike and at depth.
The Boulevard Project
The Boulevard Project is located 135 kilometres south of Dawson City and 35 kilometres south of Kinross' Golden Saddle gold deposit. The Boulevard Project property adjoins the southwest and northwest borders of Kaminak's Coffee Gold Project. The Boulevard Property is comprised of 238 contiguous mineral claims covering approximately 4,900 hectares. The Company identified the Boulevard Trend during 2010 field work at the Boulevard Project. Gold-, arsenic-, antimony- and molybdenum-in-soil geochemical anomalies have been identified over a distance of approximately 20 kilometres along the Boulevard Trend. Diamond drilling to date has tested only 1.5 kilometres of the Boulevard Trend. Further soil sampling and diamond drilling will commence by mid-June to further evaluate the project.
Updates will be provided for additional exploration activities that are being planned for the Company's remaining projects in the White Gold District.
The Company's Vice President of Exploration, Mr. David Pawliuk, P.Geo. 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 RESOURCES LTD.
Randy Turner, President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Silver Quest Resources
Investor Relations
604-687-3959
604-687-1448 (FAX)
info@silverquest.ca
www.silverquest.ca