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Ontario Exploration Work Program |
Q-Gold Resources LTD. Announces Launch Of 2006 Mine Centre, Ontario Exploration Work Program
SEC 12g 3-2(b) Exemption # 82-4931
May 5, 2006
Q-Gold Resources Ltd. (“Q-Gold” or the “Corporation”), today announced that it has launched Phase II of its Exploration Work Program on its prospective gold and base metals claims and leases near Mine Centre in Northwestern Ontario (the “Mineral Properties”). Phase I, consisting of stripping, trenching and sampling of five of the largest gold-bearing surface veins in the Foley Mine Complex, was completed in November of 2005.
Recent staking has increased the Corporation’s 100% owned holdings at Mine Centre to 22,040 acres.
Q-Gold has executed a contract with Fugro Airborne Surveys Corp. (“Fugro”) for an extensive airborne (helicopter) geophysical survey of the Mineral Properties. The survey is anticipated to exceed 1,500 line kilometres in total coverage and will use Fugro’s DIGEM electromagnetic (EM) system employing five signal frequencies and multi-coil geometry. The survey will also provide magnetic field and resistivity data/maps over the survey area and will be flown at either 100 or 200 metre line intervals, depending on the nature of geologic targets indicated.
The objectives of the survey are three-fold:
- To confirm and further delineate prior to diamond drilling, conductive EM anomalies indicated in a 1980 regional airborne survey by the Province. This survey used relatively primitive equipment at line spacings of 500 metres. These anomalies may indicate the presence of gold prospects in conjunction with sulfide deposits.
- To discover new conductive EM and magnetic anomalies for diamond drilling in the extensive shear zones present on the Mineral Properties.
- To discover additional potential gold-bearing veins that may not come to surface or are covered by glacial overburden indicated from resistivity data yielded by the survey.
J. Bruce Carruthers, President and CEO, said, “The Corporation is pleased to be able to conduct the first comprehensive, modern exploration program on the Mine Centre gold prospects, where production (principally in the 1890s), from two mines owned by Q-Gold, the Foley and the Golden Star, exceeded 16,000 ounces. Phase II is expected to begin in the second week of May starting with the Fugro survey and follow-up line-cutting and ground-based geophysics. Diamond drilling of a number of prospects is expected to commence in mid-June.”
For more information, please contact: J. Bruce Carruthers, President and Chief Executive Officer at (928) 779-0166
This release may contain forward looking statements implying an assessment that the resources described can be produced profitably in the future. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated.
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