CMQ Completes Red Canyon Drilling Program and Files Second Quarter Financial Statements
August 26 2011 - 6:20PM
PR Newswire (Canada)
CALGARY, Aug. 26, 2011 /CNW/ -- /NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
CALGARY, Aug. 26, 2011 /CNW/ - CMQ Resources Inc. ("CMQ") (TSXV:
NV) announces that CMQ's wholly owned subsidiary, Montezuma Mines
Inc. ("Montezuma") has completed its August 2011 drill program on
its Red Canyon property. Eight holes were drilled using reverse
circulation method to a total depth of 5,265 feet. An eighth
hole was drilled as one hole was lost in caving ground. The
seven remaining holes were terminated as planned in the Lone
Mountain Dolomite formation. All holes have significant zones of
de-calcification, clays, silicification, and are oxidized to the
bottom of the holes. The collected samples have been sent for
assay. Red Canyon is a sediment-hosted gold project in Eureka
County, Nevada. The Red Canyon project includes 237 unpatented lode
mining claims (7.7 square miles / 19.8 square kilometers) on the
Battle Mountain-Eureka Trend and adjoins U.S. Gold's Tonkin Springs
property to the west. The project covers an erosional
"window" that exposes oxidized and silicified lower-plate carbonate
rocks over a three square mile area (7.8 sq. km.). Miranda
Gold Corp. is CMQ's joint venture partner on the Red Canyon
project. CMQ has prepared and filed its quarterly financial
statements and management and discussion analysis for the quarter
ended June 30, 2011. Those filings can be viewed on SEDAR at
www.sedar.com. John Hogg, Chief Executive Officer, CMQ Resources
Inc., is the qualified person, as defined by National Instrument
43-101, who has reviewed and verified the data disclosed in this
press release. The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements This press release contains certain
forward-looking statements and forward-looking information
(collectively referred to herein as "forward-looking statements")
within the meaning of Canadian securities laws. All statements
other than statements of historical fact are forward-looking
statements. Forward-looking statements typically contain statements
with words such as "anticipate", "believe", "plan", "continuous",
"estimate", "expect", "intend", "may", "will", "shall", "project",
"would", "should", or similar words suggesting future outcomes.
Undue reliance should not be placed on forward-looking statements,
which are inherently uncertain, are based on estimates and
assumptions, and are subject to known and unknown risks and
uncertainties (both general and specific) that contribute to the
possibility that the future events or circumstances contemplated by
the forward-looking statements will not occur. There can be no
assurance that the plans, intentions or expectations upon which
forward-looking statements are based will in fact be realized.
Actual results will differ, and the difference may be material and
adverse to CMQ and shareholders. Forward-looking statements are
based on management's current beliefs as well as assumptions made
by, and information currently available to, management. Though
management considers these assumptions to be reasonable based on
information currently available to it, they may prove to be
incorrect. By their very nature, forward-looking statements involve
inherent risks and uncertainties, both general and specific, and
risks that forward-looking statements will not be achieved. The
forward-looking statements contained in this press release are made
as of the date hereof and CMQ does not undertake any obligation to
update publicly or to revise any of the included forward-looking
statements, except as required by applicable law. The
forward-looking statements contained herein are expressly qualified
by this cautionary statement. To view this news release in HTML
formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/August2011/26/c6675.html
p John Hogg, Chief Executive Officer, CMQ Resources Inc.
775-778-3693 /p
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