VANCOUVER, BC–(Marketwired – June 07, 2016) – Q-Gold Resources Ltd. (the “Company”) (TSX VENTURE: QGR) (http://www.qgoldresources.com) is pleased to announce that its Arizona subsidiary, Mineral Creek Resources, Inc. (“MCR”), has signed a contract with Major Drilling America Inc., based in Salt Lake City, Utah, for the drilling of the initial 800 metre (m) phase of MCR’s “Green Mohave 2”, U.S. Bureau of Land Management (“BLM”) mining claim near Crown King, Arizona (see Press Release date May 19, 2016).
The initial 800m phase of a planned 2,000m diamond drill program will test the highly-conductive air and ground geophysical anomaly designated as Anomaly “A”. The anomaly contains a primary target zone extending from near-surface to over 400m in depth, and a secondary zone from near-surface to about 425m. A third conductive zone, which is shallow, but not as well defined than the other two zones, may represent an oxide cap. It will also be tested by the first two drill holes on their way to their deeper objectives.
Drilling is scheduled to commence in the first week of June, as repairs to access roads resulting from recent heavy rains have been completed. If results warrant, the remaining 1,200m of the drill program comprising 3 test holes of the remaining unexplored, deep, conductive zones, will be initiated.
The Company holds 12 other BLM mining claims in the Peck Mining District near Crown King, half of which contain geophysical anomalies revealed by an MCR completed “VTEM” airborne survey (see Press Release dated May 14, 2014). Although these additional anomalies are not as large as the one on the “Green Mohave 2” claim, they will be the subject of additional geophysical and geochemical surveys.
The technical content of this release was reviewed and approved by Brian Beck, P. Geo., a “Qualified Person” as defined by National Instrument 43-101.
About Q-Gold Resources Ltd.
Q-Gold is a publicly traded Canadian-based mineral exploration company currently exploring for precious and base metals on its Ontario and Arizona prospects.
Certain statements in this release are forward-looking statements, including with respect to the proposed acquisition of the Target Companies, and with respect to the legal/medical marijuana market in the United States. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. In particular, the company cautions that the completion of the proposed acquisitions cannot be predicted with certainty, and that there can be no assurance at this time that the proposed acquisitions will be completed in the manner noted above or at all. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, as well as other factors beyond the Company’s control. In addition, the projected information regarding the legal marijuana market in the United States has not been independently verified by the Company, and the Company does not represent nor warrant that the actual results achieved during the projected period will be the same in whole or in part as that projected.
The forward-looking statements made by the Company are made as of the date of this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.