• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Discovery of a New Gold/Copper Showing on the Aylmer Property in James Bay

Posted on: Wednesday, 1 October 2008, 09:00 CDT

NQ Exploration Inc. (TSX VENTURE: NQE) is pleased to announce that reconnaissance prospecting carried out during the summer of 2008 on its Aylmer property in James Bay has resulted in the discovery of a gold/copper showing and confirmation of an old gold/silver showing.

In July 2008, one day of geological reconnaissance and prospecting was carried out on four of the five blocks of the Aylmer property. The prospecting work resulted in the discovery of a volcanogenic massive sulphide zone on Block #1 to the north, for which a grab sample returned grades of 4.8% Cu and 1.36 g/t Au. This new discovery lies west of old drillhole W85-14, which intersected large zones of chert and massive sulphides enriched in silver, zinc and lead. The best drill results were as follows:

 Hole             Mineralized section                  Assays                  (along the core) W85-14       From       To       Length                (m)      (m)        (m)              71.2     72.2        1.0    28.0 g/t Ag, 3.31% Zn and 1.53% Pb              83.3     84.3        1.0    50.5 g/t Ag, 4.78% Zn and 1.78% Pb 

An old gold showing, showing 2308-27, was located on Block #5 to the west. A new grab sample returned values of 1.13 g/t Au and 9.2 g/t Ag, confirming the presence of gold and silver mineralization.

"We are very encouraged by these results, as it is the first time that significant combined copper/gold values have been reported on the north block. None of the six old holes tested the mineralization at a vertical depth of over 100 metres, and the zone remains fully open at depth and to the west. This work has clearly demonstrated the potential of the Aylmer property for the discovery of gold and base metal deposits," said David Grondin, President.

Compilation work for the holes drilled on the north block began at the end of August. A prospecting crew returned to the property in early September to carry out detailed prospecting work. Assay results are pending.

The grab samples taken by NQ Exploration were assayed by Laboratoire Expert Inc. of Rouyn-Noranda, Quebec.

Daniel Bernard, a geological engineer and qualified person under National Instrument 43-101 on standards of disclosure for mineral projects, has reviewed and approved the technical content of this press release. Mr. Bernard will supervise the work to be performed on this project.

ABOUT NQ EXPLORATION INC.

NQ Exploration Inc. is a new mining exploration company with a large portfolio of 23 mining properties in the James Bay region of Quebec. NQ Exploration Inc. is betting on Quebec's excellent mineral potential and favourable investment climate to produce new world-class gold, base metal and uranium deposits.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements subject to risks and uncertainties. Consequently, there is no assurance that such statements will prove to be accurate, and actual results and future events may differ considerably from those anticipated by such statements. Such risks and uncertainties are described in the quarterly management discussions and analyses and documents filed with regulatory authorities by NQ Exploration Inc. NQ Exploration Inc. does not undertake to publicly update or revise forward-looking statements on the basis of new information or future events or for any other reason.

The TSX Venture Exchange does not assume any responsibility for the adequacy or accuracy of this press release.

 Contacts: NQ Exploration Inc. David Grondin President and Chief Executive Officer 514-206-7727 info@nqexploration.comwww.explorationnq.com

SOURCE: NQ Exploration Inc.

Source: MARKET WIRE

More News in this Category