Silver Quest Provides Update on Yukon Exploration Programs
July 11 2011 - 7:00AM
Marketwired
Silver Quest Resources (TSX VENTURE: SQI) ("Silver Quest" or "the
Company") is pleased to announce that it has increased its 2011
field season exploration budget for the White Gold District, Yukon
to $7 million. The budget increase will expand the previously
announced exploration programs which include soil sampling,
geological mapping, airborne geophysical surveying and diamond
drilling (see news release from June 1, 2011).
The Company has also commenced exploration activities on two of
its projects in the District and is pleased to provide the
following update.
Prospector Mountain Project
Exploration activities commenced in early June and approximately
1,000 rock and soil samples have been collected from the property.
Initial diamond drilling will commence in mid-July on the Bonanza
Zone of Prospector Mountain, where select rock samples collected in
previous sampling campaigns 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). Diamond drilling will also test four
previously known mineralized zones on the western side of the
property. Further geophysical surveying and sampling are planned
within the project area. The Prospector Mountain Project is located
90 kilometres northeast of Carmacks and is comprised of 271
contiguous mineral claims covering approximately 5,500
hectares.
The Boulevard Project
Soil sampling commenced in early June and approximately 2,300
samples have been collected to date. Diamond drilling is scheduled
to commence in early August to test the Boulevard Trend, which is a
20 kilometre long trend comprised of numerous gold-, arsenic-,
antimony- and molybdenum-in-soil geochemical anomalies identified
from 2010 soil sampling (see news release dated January 17, 2011).
The Boulevard Project is located 135 kilometres south of Dawson
City and 35 kilometres south of Kinross' Golden Saddle gold
deposit, and adjoins the western border of Kaminak's Coffee Gold
Project. It is comprised of 1,020 contiguous mineral claims
covering approximately 20,328 hectares.
The Company has also initiated a 7,500 line-kilometre airborne
geophysical survey, which includes radiometric and magnetic
surveying over the Prospector Mountain, Rude Creek, Boulevard and
Henderson project properties. For further details on property
locations, please visit the Company's website
www.silverquest.ca.
David Pawliuk, P.Geo., Vice President Exploration for Silver
Quest is the Qualified Person, as defined by National Instrument
43-101, for the White Gold District projects and supervised the
preparation of 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
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