CMQ Announces Drilling Results on South Sleeper Project
February 25 2012 - 10:07PM
PR Newswire (Canada)
CALGARY, Feb. 28, 2012 /CNW/ - CMQ Resources Inc. ("CMQ") is
pleased to report drill results for a five-hole core drilling
program at the South Sleeper (RO claims) epithermal gold project in
Humboldt County, Nevada. The project is being explored under
an "Exploration and Option to Enter Joint Venture Agreement" with
Geologix (US) Inc. Montezuma Mines Inc. ("Montezuma"), a wholly
owned subsidiary of CMQ, completed a 4,408-foot (1,444-meter)
drilling program designed to partially test two of seven anomalous
areas. Eleven sites have been permitted under a Notice with
the BLM. All five holes were completed to target depth. The
Sleeper rhyolite was drilled in four of the five holes. The
underlying Intermediate lavas were drilled in all holes. The
rhyolite exhibits flow and flow-dome complex features.
Argillic and silicic alteration, as well as pyrite-marcasite
veinlets and disseminations, have been observed in the rhyolite and
lavas. The drilling results provide evidence that the
migration of hydrothermal fluids was controlled by flat-lying
breccias zones and high-angle fracture zones, the same geologic
features of exploration significance controlling the gold
mineralization at the Sleeper Mine. The data confirms that
the two anomalies drilled lie in an area of fault zones that
control hydrothermal alteration southward from Sleeper. Significant
drill intercepts, defined as mineralization grading 0.005 oz Au/t
(0.185 g Au/t) or better over 5 feet (1.5 meters) or longer, are
presented in the table below.
___________________________________________________________________
| Drill |Intercept |Length |oz Au/t|oz Ag/t|Length (m)|g Au/t|g
Ag/t| | Hole | (ft) | (ft) | | | | | |
|_______|__________|_______|_______|_______|__________|______|______|
|MS11-01| 150-160 | 10 | 0.005 | | 3.05 | 0.19 | |
|_______|__________|_______|_______|_______|__________|______|______|
| | 170-180 | 10 | 0.006 | | 3.05 | 0.21 | |
|_______|__________|_______|_______|_______|__________|______|______|
|MS11-02| 200-210 | 10 | 0.28 | | 3.05 | 9.48 | |
|_______|__________|_______|_______|_______|__________|______|______|
| | 600-605 | 5 | | 6.48 | 3.05 | | 222 |
|_______|__________|_______|_______|_______|__________|______|______|
|MS11-03| 200-205 | 5 | 0.010 | | 1.50 | 0.38 | |
|_______|__________|_______|_______|_______|__________|______|______|
True thicknesses are not known. All samples were collected
with a core drill and sawn in half using a diamond saw. Half
the core was submitted and assayed by ALS Minerals of Sparks,
Nevada. Gold results were determined using standard fire
assay techniques on a 30-gram sample pulp with an atomic absorption
finish. Trace elements, including silver, were assayed using
an ME-ICP 41 method. Montezuma QA/QC includes the insertion
of standards and blanks on a regular basis, check assays on select
samples, and the collection of duplicate samples. Project Details
The South Sleeper (RO claims) project in Humboldt County, Nevada,
includes 60 unpatented lode mining claims (1.7 square miles/4.4
square kilometers) lying 1.5 miles (2.4 kilometers) south of the
Sleeper Mine. The targets are bonanza-grade veins,
marcasite-cemented breccias and stockwork. CMQ currently has
44,188,682 common shares issued and outstanding. CMQ's
website is located at www.cmqresources.com. John Hogg, CEO, 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 regarding the
drilling and potential of the Red Canyon and South Sleeper project,
the extent of Montezuma's drilling program as well as the ability
of CMQ to continue operations. Undue reliance should not be
placed on forward-looking statements, which are inherently
uncertain. There can be no assurance that the plans, intentions or
expectations upon which forward-looking statements are based will
in fact be realized. 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. 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. CMQ Resources Inc. CONTACT: John Hogg, Chief
Executive Officer, CMQ Resources Inc., Tel:(775)778-3693, E-mail
montezuma@frontiernet.net
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