Great Quest Metals Ltd.: Arrete de la Miniere Permits Received for the Tilemsi Phosphate Concessions
19 February 2011 - 1:30AM
Marketwired
Victor J.E. Jones, Chairman and CFO of Great Quest Metals Ltd. (TSX
VENTURE: GQ)(FRANKFURT: GQM), is very pleased to report that the
Company has now received the Arrete permits, as required under
Malian law, to commence exploration field work on its Tilemsi
Phosphate Project in Eastern Mali. These Arretes were received
pursuant to applications made following the receipt of the
Convention d'Etablissement permits issued by the Ministry of Mines
on January 12, 2011 (GQ News - January 12, 2011). Within the
framework of the 30 year Conventions, Arretes provide renewable 3
year exploration licences and important tax relief for exploration
expenditures and importing drilling equipment. The Tilemsi
Phosphate Project comprises the Tin Hina and Tarkint Est
concessions which together cover some 737 sqkm prospective for
phosphates.
"The receipt of these Arretes marks the formal approval for
field work mobilization," said Mamadou Keita, the Company's Vice
President Exploration, based in Bamako Mali, "and we can now
authorize the mobilization of the air-core drill rig into the
country and initiate logistics for exploration operations and
drilling."
In preparation for the air-core drilling program the Company has
just completed a remote sensing data analysis which identified
extensive showings of apparent phosphate mineralization based on
correlations with known Company geological sampling reconnaissance
(GQ News - February 15, 2011). The area highlighted by the remote
sensing and prior sampling are priorities for the multi-phase
drilling and geological programs. The first phase of air-core
drilling will include an estimated 1000 drill holes, pits and
geological reconnaissance over the targeted areas using the new
remote sensing findings and high resolution maps to assist field
crews. The objective is an initial NI 43-101 compliant resource
estimate, after which a preliminary scoping study would be
commissioned, along with further drilling.
Great Quest holds an 88% interest in the 320 sqkm Tin Hina
concession located immediately to the south of the 417 sqkm Tarkint
Est concession in which Great Quest holds a 97% interest through an
exploration agreement with a private Malian company. The Tilemsi
valley is known for its natural phosphate rock. This first
comprehensive approach to exploration and development of these
concessions has gained recognition within Mali for its potential
benefit on the Malian agricultural sector.
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST METALS
LTD.
Victor J.E. Jones, Chairman
12g3-2(b) Exemption #82-3116
Standard & Poor's Listed
The statements that are not historical facts and are
forward-looking statements involving known and unknown risks and
uncertainties could cause actual results to vary materially from
the targeted results.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Great Quest Metals Ltd. George Butterworth Investor
Relations 604-689-2882 or Toll Free: 877-325-3838 604-684-5854
(FAX) info@greatquest.com www.greatquest.com
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