Vancouver, British Columbia / June 1, 2021. QuestEx Gold & Copper Ltd. (TSX-V: QEX) (“QuestEx” or the “Company”) is pleased to provide an update on its fully funded 2021 exploration program, which will focus on its properties in British Columbia’s Golden Triangle and Toodoggone districts.
QuestEx is anticipating a busy 2021 exploration season with drill programs totaling 7,300 metres on two of its 100% owned, British Columbia properties, the KSP property in the Golden Triangle, and the Sofia property in the Toodoggone district. Drilling at the Sofia property is expected to begin (permit pending) by mid-late June, and operations will shift to the KSP property by early August. QuestEx will also be conducting a surface exploration program on the Castle property, which will include geophysical surveys designed to de-risk and better inform future drilling of deep Saddle-North/Red-Chris style porphyry copper-gold targets.
Joe Mullin, QuestEx’s CEO comments: “QuestEx’s 2021 exploration program is designed to provide shareholders with potential exploration success on multiple properties and projects. We are focusing on some of our most high-potential gold targets; the low hanging fruit from our extensive project portfolio. The drill program at Inel, on the KSP property, is expected to lead to a National Instrument 43-101 maiden gold resource estimate in Q4 2021, and our drill program at Sofia will test down-dip and along strike potential of the Quartz Lake gold-silver vein system as well as target three additional underexplored gold and porphyry copper-gold systems on that property.”
Highlights of QuestEx’s 2021 Exploration Plans:
- 4,200 metres of drilling on the KSP property (Golden Triangle) focused on the Inel gold showing and nearby synergistic gold systems (e.g. Khyber Pass and Camp Porphyry);
- Maiden resource estimate for the Inel gold showing expected in Q4 2021;
- 3,100 metres of drilling on the Sofia property (Toodoggone District) testing four targets (permit pending):
- The down-dip and along strike potential of the Quartz-Lake gold-silver vein target;
- A large and intense gold-copper-molybdenum soil anomaly and alteration system at the Alexandra showing, which was only tested by a single shallow historical drill hole;
- The Tranquillo target, which is defined by coincident geophysical and soil anomalies first identified in 2020; this will be the inaugural drill test of the Tranquillo target; and
- The Blue Sky gold-copper-lead-barium anomaly, which includes soil samples up to 1.9 grams per tonne gold and has never been drill tested;
- Geophysical Surveys at the Castle Property designed to de-risk and better inform future drilling of deep Saddle-North/Red-Chris style porphyry copper-gold targets; and
- Stream silt sampling, mapping and prospecting at KSP and Kingpin to identify potential for Eskay style VMS systems along trend within the Eskay Rift, and to advance porphyry copper gold targets.
Further details about the Inel gold showing on the KSP property can be found in the Company’s news release NR21-03, dated January 19, 2021. Technical details of the Sofia property targets are outlined in NR21-04, dated February 9, 2021. Additional information is provided on the Company’s website www.questex.ca and in the Company’s Corporate Presentation.
We seek safe harbor.
Tony Barresi, Ph.D., P.Geo., QuestEx’s President, a Qualified Person within the meaning of National Instrument 43-101, has reviewed and approved the technical information in this news release.
QuestEx Gold & Copper Ltd. is exploring for high-grade gold and copper with a focus on the Golden Triangle and Toodoggone areas of British Columbia. The property portfolio includes the Castle property, a porphyry copper-gold project located in the Red Chris mining district of the Golden Triangle neighbouring GT Gold’s Tatogga property, and Newcrest Mining’s GJ property. Other properties include KSP, North ROK, Coyote, and Kingpin in the Golden Triangle, Sofia in the Toodoggone district, and Heart Peaks and Hit in other strategic districts within British Columbia. These assets are being advanced by a newly assembled technical and management team with experience in exploration, permitting and discovery.
ON BEHALF OF THE BOARD OF DIRECTORS OF QUESTEX GOLD & COPPER LTD.
Chief Executive Officer and Director
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Cautionary Note Regarding Forward-Looking Statements
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, are forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company’s periodic filings with Canadian securities regulators as well as the risk that the ongoing COVID-19 pandemic may have on the Company’s business. Important factors could cause actual results to differ materially from QuestEx expectations. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. QuestEx does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.