Silver Quest Announces 4.0 Metres Averaging 165.4 g/t Au in Step-Out Drilling at Davidson Gold Project, BC
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/27/11 -- Silver Quest Resources (TSX VENTURE: SQI) ('Silver Quest' or 'the Company') is pleased to report drill results from 22 holes (BW 149 through BW 170) received from the ongoing 20,000 metre drill campaign to expand the resources on the Davidson Gold Project, a joint venture with New Gold Inc., which is the operator of the joint venture. Silver Quest has a 25% interest in the joint venture. The project is approximately 110 kilometres southwest of Vanderhoof, BC.
Of particular significance, multiple high-grade intercepts were returned in addition to thick sequences of bulk-tonnage gold mineralization. Highlights include: four metres of 165.4 grams/tonne ('g/t') gold in hole BW 156 and one metre intercepts of 46.0 and 33.5 g/t gold in holes BW 158 and 162, respectively. Multiple intercepts grading 5 g/t gold or better over widths of at least one metre occurred in several holes.
Hole BW 156 is the easternmost drill hole completed to date, and the deposit remains open to expansion to the north and east of this hole.
The holes reported here include in-fill and step-out holes drilled within and around the currently defined mineral resource on the Davidson Gold Project claims. The 22 holes reported here are holes 15 through 36 in the current drilling campaign. These results demonstrate the continuity of mineralization of thick sequences of bulk-tonnage mineralization to both the northwest and northeast of the resource area, with good grades over considerable widths. Highlights include:
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Northwest Sector Northeast Sector
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Weight- Weight-
ed ed
Aver- Aver-
Inter- age Inter- age
From To val Gold From To val Gold
Hole (met- (met- (met- Grade Hole (met- (met- (met- Grade
ID res) res) res) (g/t) ID res) res) res) (g/t)
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BW-149 205 435 230 1.41 BW-153 132 304 172 0.91
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BW-158 104 263 159 1.29 BW-157 77 217 140 1.27
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BW-162 44 362 318 1.39 BW-163 265 330 65 1.45
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BW-170 93 193 100 1.47 BW-167 196 246 50 1.11
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New Gold has announced an increase in the drill program for its Blackwater Project (the Davidson Gold Project is the northern portion of the Blackwater Project) and plans to drill 40,000 to 50,000 metres in approximately 100 holes in the second half of 2011.
The following table provides assay information for the 22 holes reported in this press release. Widths reported are drill widths, true widths are unknown. Assays are uncut, length-weighted averages.
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Drill Hole From To Interval Au g/t
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BW-149 0 31.5 31.5 NA
31.5 56 24.5 0.17
56 66 10.0 0.92
66 143 77.0 0.21
143 151 8.0 0.82
151 205 54.0 0.19
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205 434.6 229.6 1.41
Includes 205 210 5.0 2.33
210 233 23.0 0.34
233 234 1.0 8.55
234 278 44.0 0.29
278 331 53.0 0.61
331 337 6.0 15.13
337 348 11.0 1.41
348 368 20.0 0.38
368 397 29.0 0.79
397 407 10.0 2.93
407 423 16.0 0.91
423 434.6 11.6 5.53
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BW-150 0 3 3.0 NA
3 127 124.0 0.08
127 128 1.0 5.55
128 261 133.0 0.17
261 271 10.0 0.62
271 332 61.0 0.08
332 334 2.0 0.88
334 340.4 6.4 0.10
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BW-151 0 1 1.0 NA
1 159 158.0 0.10
159 172 13.0 0.34
172 208 36.0 0.75
208 244 36.0 0.36
244 245 1.0 4.11
245 339 94.0 0.28
339 340 1.0 13.60
340 353.3 13.3 0.20
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BW-152 0 3 3.0 NA
3 86 83.0 0.19
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Includes 86 152 66.0 0.71
85 140 55.0 0.50
140 141 1.0 8.30
141 152 11.0 1.03
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152 180 28.0 0.14
180 186 6.0 1.17
186 244 58.0 0.15
244 254 10.0 1.75
254 383 129.0 0.12
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BW-153 0 9 9 NA
9 50 41.0 0.11
50 52 2.0 6.12
52 87 35.0 0.17
87 89 2.0 4.48
89 132 43.0 0.11
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132 304 172.0 0.91
Includes 132 179 47.0 0.79
179 181 2.0 6.98
181 227 46.0 0.80
227 237 10.0 2.14
237 278 41.0 0.23
278 291 13.0 2.27
291 304 13.0 0.70
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304 407.8 103.8 0.08
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BW-154 0 9 9.0 NA
9 25 16.0 0.34
25 28 3.0 8.70
28 70 42.0 0.30
70 110 40.0 0.87
110 133 23.0 0.31
133 161 28.0 0.75
161 174 13.0 0.32
174 186 12.0 0.08
186 226 40.0 0.51
226 377.3 151.3 0.10
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BW-155 0 1 1.0 NA
1 147 146.0 0.16
147 175 28.0 0.53
175 201 26.0 0.38
201 221 20.0 0.18
221 222 1.0 3.37
222 248 26 0.38
248 375.5 127.5 0.16
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BW-156 0 27 27.0 NA
27 46 19.0 0.39
46 89 43.0 0.12
89 100 11.0 0.47
100 101 1.0 15.00
101 113 12.0 0.57
113 135 22.0 0.07
135 139 4.0 165.38
139 149 10.0 0.98
149 211 62.0 0.12
211 226 15.0 0.53
226 253 27.0 0.07
253 273 20.0 0.58
273 339.4 66.4 0.09
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BW-157 0 10 10.0 NA
10 19 9.0 1.57
19 42 23.0 0.17
42 45 3.0 2.67
45 77 32.0 0.22
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77 217 140.0 1.27
Includes 77 81 4.0 0.74
81 82 1.0 9.15
82 91 9.0 0.39
91 142 51.0 1.22
142 147 5.0 7.49
147 172 25.0 0.84
172 189 17.0 0.31
189 217 28.0 1.31
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217 249 32.0 0.21
249 254 5.0 0.84
254 303 49.0 0.18
303 310 7.0 0.85
310 375.8 65.8 0.11
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BW-158 0 1 1.0 NA
1 104 103.0 0.08
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104 263 159.0 1.29
Includes 104 124 20.0 1.16
124 125 1.0 46.00
125 129 4.0 2.28
129 159 30.0 0.55
159 160 1.0 27.40
160 164 4.0 1.07
164 182 18.0 1.04
182 204 22.0 0.34
204 263 59.0 0.75
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263 326 63.0 0.27
326 371.5 45.5 0.14
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BW-159 0 19 19.0 NA
19 69 50.0 0.19
69 79 10.0 1.00
79 161 82.0 0.11
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161 341 180.0 0.85
Includes 161 169 8.0 0.75
169 170 1.0 25.70
170 194 24.0 1.29
194 232 38.0 0.38
232 233 1.0 9.85
233 257 24.0 0.76
257 274 17.0 0.32
274 284 10.0 0.98
284 293 9.0 0.27
293 296 3.0 2.83
296 311 15.0 0.27
311 331 20.0 0.69
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331 366.7 35.7 0.17
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BW-160 0 11 11.0 NA
11 58 47.0 0.06
58 111 53.0 0.28
111 114 3.0 1.93
114 144 30.0 0.33
144 395.6 251.6 0.13
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BW-161 0 4 4.0 NA
4 269 265.0 0.04
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269 338 69.0 0.64
Includes 269 317 48.0 0.51
317 338 21.0 0.94
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338 350.5 12.5 0.20
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BW-162 0 3 3.0 NA
3 20 17.0 0.09
20 29 9.0 0.83
29 44 15.0 0.18
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44 361.5 317.5 1.39
Includes 44 54 10.0 1.45
54 55 1.0 15.30
55 58 3.0 1.44
58 59 1.0 10.50
59 73 14.0 0.91
73 103 30.0 0.52
103 150 47.0 0.26
150 169 19.0 1.01
169 172 3.0 7.27
172 221 49.0 1.15
221 236 15.0 0.18
236 282 46.0 3.31
282 283 1.0 33.50
283 317 34.0 1.25
317 347 30.0 0.27
347 359 12.0 0.65
359 360 1.0 10.10
360 361.5 1.5 1.15
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BW-163 0 11 11.0 NA
11 17 6.0 0.06
17 24 7.0 1.69
24 41 17.0 0.33
41 265 224.0 0.14
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265 330 65.0 1.45
Includes 265 309 44.0 0.64
309 322 13.0 1.64
322 323 1.0 20.20
323 330 7.0 3.56
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330 381 51.0 0.16
381 389 8.0 1.05
389 412.4 23.4 0.13
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BW-164 0 8 8.0 NA
8 69 61.0 0.08
69 72 3.0 1.09
72 168 96.0 0.14
168 178 10.0 0.48
178 208 30.0 0.13
208 211 3.0 0.83
211 285 74.0 0.16
285 289 4.0 0.80
289 298 9.0 0.32
298 359 61.0 0.09
359 360 1.0 4.34
360 383.0 23.0 0.12
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BW-165 0 4 4.0 NA
4 115 111.0 0.03
115 118 3.0 0.77
118 252 134.0 0.06
252 279.8 27.8 0.27
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BW-166 0 3 3.0 NA
3 130 127.0 0.04
130 167 37.0 0.44
167 197 30.0 0.76
197 217 20.0 0.41
217 228 11.0 0.19
228 235 7.0 0.78
235 252 17.0 0.23
252 263 11.0 0.65
263 307 44.0 0.24
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BW-167 0 10 10.0 NA
10 65 55.0 0.08
65 76 11.0 0.52
76 166 90.0 0.10
166 167 1.0 4.64
167 184 17.0 0.43
184 196 12.0 0.23
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196 246 50.0 1.11
Includes 196 238 42.0 0.88
238 241 3.0 4.13
241 246 5.0 1.27
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246 269.9 23.9 0.19
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BW-168 0 25 25.0 NA
25 178 153.0 0.09
178 180 2.0 1.95
180 253 73.0 0.11
253 255 2.0 4.84
255 260 5.0 0.51
260 401.1 400.7 0.12
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BW-169 0 2 2.0 NA
2 162 160.0 0.08
162 175 13.0 0.58
175 247 72.0 0.21
247 250 3.0 3.81
250 274 24.0 0.45
274 353.0 79.0 0.19
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BW-170 0 20 20.0 NA
20 52 32.0 0.18
52 53 1.0 7.40
53 71 18.0 0.20
71 83 12.0 0.87
83 93 10.0 0.13
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93 270 177.0 1.10
Includes 93 104 11.0 1.02
104 115 11.0 0.10
115 142 27.0 1.45
142 143 1.0 17.60
143 157 14.0 0.85
157 158 1.0 7.70
158 163 5.0 0.24
163 164 1.0 8.10
164 188 24.0 1.18
188 193 5.0 4.09
193 248 55.0 0.47
248 249 1.0 8.30
249 270 21.0 0.56
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270 294 24.0 0.20
294 345 51.0 0.56
345 410 65.0 0.27
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410 436 26.0 0.96
Includes 410 412 2.0 3.11
412 431 19.0 0.42
431 436 5.0 2.17
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436 449.5 13.5 0.18
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David Pawliuk, P. Geo., Vice-President Exploration for Silver Quest is the Qualified Person, as defined by NI 43-101, for the Davidson Gold Project and has reviewed the 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 Ltd.
Investor Relations
604-687-3959
604-687-1448 (FAX)
info@silverquest.ca
www.silverquest.ca