Great Quest Metals Ltd. Extends Tilemsi Phosphate Project Area to 1206 sqkm
15 November 2011 - 6:00AM
Marketwired
Victor J.E. Jones, President and CFO of Great Quest Metals Ltd.
("Great Quest" or "GQ") (TSX VENTURE:GQ)(FRANKFURT:GQM), is pleased
to report that the Company is expanding the Tilemsi Phosphate
project area through the acquisition of a new concession
immediately adjacent to and east of its initial Tin Hina concession
and through the extension of the area covered by its partnered
Tarkint Est concession. The new areas increase the total Tilemsi
project area from 737 sq km to 1206 sq km. The Company has
announced a preliminary NI-43101 resource on a portion of its Tina
Hina concession (see news release dated November 8, 2011) from a
report authored by Jed Diner, M.Sc., P.Geol. which contains an
Inferred Mineral Resource estimate of 32 million tonnes at a grade
of 23.4% P2O5 (at a cutoff of 5% P2O5) using a specific gravity of
2.1.
Ader Foul Authorization d'Exploration
The Company has received an Authorization d'Exploration from the
Malian DNGM office to commence the preliminary review and
exploration work on the 200 sq km area known as Ader Foul. This
area is immediately east of the Tin Hina hills where the Company
completed 104 drill holes intersecting a phosphate horizon during
its Phase 1 drilling program, and four of these holes intersected a
shallower upper horizon. That drilling resulted in a resource
estimate of 20 million tonnes of phosphate rock at 24% P2O5 from
just a 6.75 sq km resource polygon, part of the total 32 million
tonne resource estimate. The new area appears to show a continuity
of structure and mineralization to the east of the Tin Hina area. A
program of further mapping, sampling and an initial drilling
program is planned as part of the current Phase 2 work. The
Company's Malian subsidiary would hold all of the interest in the
concession and will be applying for additional permits as required
after the 90 day review period.
Tarkint Est Extension
The other addition is a 269 sq km extension of the Tarkint Est
concession area held through a prior agreement with a private
Malian company. The extension is contiguous along the northern
border of the Tin Hina and Ader Foul concessions and is now
included within the Arrete permit held by the partner company. The
Company has agreed to pay approximately Cdn $35,000 to the partner
company to include the additional area, subject to TSX Venture
approval. The Company will hold a 97% interest on the entire
Tarkint Est 589 sq km area. Drilling on several hills and areas
prospective for phosphate within the Tarkint Est concession,
including the Chanameguille, is planned during Phase 2 using both
RAB and Aircore drills. This drilling will follow up on remote
sensing and the geological reconnaissance work carried out and
on-going from the Company's exploration base in Almoustarat. Remote
sensing data analysis and preparation of digital terrain maps using
satellite imagery are planned for the new areas.
Tilemsi Bulk Sampling
The Company has just completed eleven shallow pits down to the
phosphate layer adjacent to drilling completed in Phase 1. A 100 kg
sample was taken from the phosphate horizon in ten pits on the Tina
Hina area and one pit on the Alfatchafa hill. The pits allow for
direct sampling of the phosphate layer and adjacent lithological
units, as well as removal of sufficient material for detailed
metallurgical and process analysis. These samples have been
transported to Bamako for further work.
Assay results from the drill samples suggest the phosphate rock
in both target areas is identical and of very high quality. The
phosphate rock contains negligible amounts of many of the common
impurities that plague phosphate ores including cadmium and
uranium, making it amendable to direct application. It also has
negligible organic carbon and the CaO/P2O5 ratio points to ore
clean of calcite. No grain size analysis or concentration tests
were completed in this phase of work but historical work suggests
that inexpensive techniques could be used to achieve attractive
concentrate grades.
This first phase of drilling confirmed the presence of
significant areas of phosphate mineralization and enabled an
inferred resource estimate of 32 million tonnes at a grade of 23.4%
P2O5 (at a cutoff of 5% P2O5) using a specific gravity of 2.1.
Phase 2 will follow up on this discovery success and seek to extend
knowledge of phosphate occurrences on the expanded Tarkint Est, Tin
Hina and Ader Foul areas which remain open in multiple directions,
particularly to the east and south of the Tin Hina resource polygon
area. The Phase 2 field program underway includes digging pits for
bulk samples and visual evaluation of the near surface phosphate
horizon, geological reconnaissance and RAB and Aircore
drilling.
Qualified Person
Jed Diner (M.Sc., P. Geol.) is the Qualified Person responsible
in accordance with NI 43-101 for the content, review and approval
of this News Release. Mr. Diner completed his M.Sc. in Applied
Earth Science at Stanford University and works internationally on
mineral exploration and resource development projects. He has
consulted on other phosphate projects in Uzbekistan, Peru and
Angola.
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST METALS
LTD.
Victor J.E. Jones, President
Great Quest Metals Ltd. is a Canadian mineral exploration
company with assets in Mali, West Africa. The Company is focused on
developing the Tilemsi Phosphate Project, encompassing 1206 km2 in
eastern Mali. The Company also holds several gold concessions in
the productive Birimian gold belt in western Mali. Great Quest is
listed on TSX Venture Exchange (GQ), and the Frankfurt Stock
Exchange (GQM).
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.
12g3-2(b) Exemption #82-3116
Standard & Poor's Listed
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.comwww.greatquest.com
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