Q-Gold Submits Exploration Permit for High-Grade Foley Gold Mine Complex, Ontario
Overview of Foley Gold Mine Vein System
Assorted Mine Centre Gold Vein Systems
TORONTO, Sept. 30, 2020 (GLOBE NEWSWIRE) — Q-Gold Resources Ltd (TSXV: QGR) (“Q-Gold” or the “Company”) is pleased to announce it has submitted an exploration permit for its previously announced 2020-2021 exploration program at its wholly-owned Foley Gold Mine complex, near the town of Mine Centre, Ontario.
The permit will allow Q-Gold to drill targets at the past-producing Foley Gold Mine; a high-grade gold-vein system with over 5,900 m of NI 43-101 compliant drilling with results of up to 53.47 g/t Au over 1.5 m and 106.7 g/t Au over 0.23 m. Previous records indicate that 10,500 tons of ore at 14 g/t was mined from stopes at the 100’ level with 5,267 oz of gold recovered between 1898 – 1900.
With this exploration program, Q-Gold will conduct an estimated 3,000 m of drilling. This will include a series of 200 m holes to infill the previous drilling at the Foley Gold Mine complex to attempt to form the first compliant resource for the near-surface mineralization. These results will then be used to guide subsequent exploration; a series of 300 m holes testing the mineralization below the -122m level, which is open in all directions.
“Our team is very excited to move forward with drilling on the high-grade Foley Gold Mine property,” comments Patrick Lengyel, Exploration Manager of Q-Gold. “The Foley property offers both near-term value accretion through the potential addition of a compliant resource, as well as longer-term value at depth with potential vein continuity in all directions.”
Highlights from Previous Exploration Programs
Previous drilling between 2005-2012 established the Foley Gold Mine as a large