FLAGSTAFF, AZ, March 14, 2013 /PRNewswire/ - Q-Gold Resources Ltd. (the "Company") (TSX VENTURE: QGR) (http://www.qgoldresources.com) announced today that, based on positive results from a preliminary ground hybrid magnetotellurics ("MT") geophysical survey last Fall over the historic Peck and Black Warrior silver mine complexes, the Company has scheduled a series of additional M/T recording stations on the ridges containing the mines.
Both mines, located in the Peck Mining District of Yavapai County, Arizona, near the hamlet of Crown King, are under option to the Company and have been the subject of concentrated exploration efforts in the past two years. These include both airborne (VTEM / magnetics) and ground MT geophysical surveys, as well as intensive investigation and sampling of the old workings of the mines (adits, shafts and stopes).
Both mines produced high-grade silver ores in the period from 1875 to about 1900, when the price of silver collapsed at the end of the 19th Century. Production records during this period were incomplete as Arizona was only a "territory" until becoming a state in 1912. However, an "official" 1,374,000 ounces of silver were produced from the Peck Mining District, during the period, principally from the Peck Mine, which closed in 1887 after an owners' dispute.
Q-Gold conducted a "chip" sampling programming in 2011 across the face of the veins and partially mined ore shoot in the upper section of the Black Warrior Mine. The Company received laboratory assays results on a series of these chip samples indicating "high grade" silver in the range from 1,690 to 8,140 grams/ tonne (g/t) [49.29 to 237.42 oz/ ton (opt)] and gold ranging from 3.85 to 38.4 g/t [0.11 to 1.12 opt]. Significant levels of lead, zinc and antimony (up to 24% by weight for the latter) were recorded (see press release dated July 7, 2011).
The Peck Mine was entered and mapped internally by a Q-Gold contracted crew, in 2010. A fire assay of a sample taken from the wall of one of the Peck Mine adits during the entry recorded a silver value of 379 g/t [11.05 opt].
Preliminary M/T Results
Peck Mine: As part of a limited "reconnaissance" MT survey over the Peck and Black Warrior Silver Mines, 5 MT recording stations were established over the Peck Mine in October 2012. A significant conductive anomaly, with low resistivity readings less than about 50 ohm-meters, was encountered near the two existing mine shafts. This strong anomaly also extends to the north and downward to at least the 170 m level, or 48 m below the existing historic workings which terminated at the 122 m level. Thus, an additional 48 m of potential un-mined mineralized zone may underlie the existing workings over a horizontal distance of at least 100 m. An additional 2 new lines containing 15 MT stations are planned for recording at the Peck Mine prior to drilling of the indicated conductive zone.
Black Warrior Mine: Interference caused by metal debris from the roof of a burned building which resulted from the 2012 "Gladiator" wildfire at Crown King prevented some areas of the mine from producing a suitable MT response. However, 3 MT stations were able to record satisfactory conductive responses along a single survey line. Stations at each end of the line exhibited the beginning of highly anomalous (conductive) zones exhibiting less than 100 ohm-meters of resistivity, extending from about 50 to 150m in depth, the middle station being located over an apparent highly resistive rhyolite dike. As recommended by the Company's geophysical consultant, 2 additional lines and intermediate locations containing 12 MT stations will be recorded prior to drilling under the old workings of the Black Warrior silver mine.
Drill Plan - Peck and Black Warrior Mines
Based on the results of the second MT survey, the Company plans to drill a series of diamond core holes below the workings of both mines. As both the Peck and Black Warrior Mines are located on Federal Patented mining claims, drilling is expected to proceed shortly after the MT geophysical data review is completed, without requiring a substantial permitting delay.
Drill Plan - Green Mohave 2
As previously reported on February 20, 2013, the Company has applied for a permit from the U.S. Forest Service for a series of diamond drill holes on the Green Mohave 2 mining claim, which contains the large "A" conductive anomaly. Upon receipt of the permit, the Company will drill 6 core holes into the "A" anomaly from 2 drill pads.
The technical content of this release was reviewed and approved by James C. Hasbrouck, PGp, a "Qualified Person" as defined by National Instrument 43-101.
About Q-Gold Resources Ltd.
Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals on its Ontario holdings in the historic Gold Camp at Mine Centre, including 5 historic gold mines. In addition, the Corporation holds options on a number of historic gold and silver mines in the historic Arizona gold camp of Crown King.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Q-Gold Resources Ltd.