SEC 12g 3-2(b) Exemption # 82-4931
FORT FRANCES, ON, Oct. 13 /PRNewswire-FirstCall/ - Q-Gold Resources
Ltd. (TSX VENTURE: QGR) (http://www.qgoldresources.com) announced
today that the Company has acquired exploration and purchase option
rights on three historic silver mines in the Bradshaw Mountains of
Yavapai County, near Crown King, Arizona. These mines include the
"Silver King", "Black Warrior" and a portion of the "Silver
Prince", all high-grade historic silver producers at the end of the
19th Century.
These new properties are in addition to the two large historic
silver producing mines already under option to Q-Gold at
Crown King, the famous Tiger and
the Hammond-Riggs Silver Mines, the Tiger being one of the largest
and most important of the 2,000 mines that occupied the Bradshaw
Mountains from 1870 to 1903. Exploration on the Tiger Mine and its
accompanying mine dumps and mill tailings was conducted this
summer.
The quantity and quality of gold and silver ore produced from
the mountainous Crown King area
justified construction of a railroad completed in 1904, to haul the
ore to the desert valley below for onward rail transport to area
smelters. The advent of World War I and the exhaustion of the
easiest ore to mine and process, the oxide zone, led to the
shutdown of mining operations. Except for a few minor attempts in
the 1920's and 1980's, no modern exploration program for gold and
silver has been conducted despite the presence of largely
unexplored silver and gold-bearing tracts and a large volume of
prospective sulfide ore thought by geologists to exist at depths
unreachable by miners in the 19th Century. Modern technology will
allow these ores to be mined and successfully processed.
Q-Gold also holds exploration and purchase option rights on six
additional historic gold producing mines at Crown King. These include the "Savoy", "New
Savoy", "Rapid Transit", "Grey Eagle", Gazelle" and portions of the
famous "Oro Belle" Mine. The "Silver
King" Mine described above was also an important gold producer. A
modern exploration program on several of these gold-bearing mines
was initiated earlier this year.
Bruce Carruthers, President and
CEO of Q-Gold remarked, "The extremely high grades of silver
reported from the mines at Crown
King, ranging from 10 to over 100 ounces per ton, can yield
ore values that at today's record price levels often exceed those
of ore from gold deposits. We are very excited to bring these
properties into Q-Gold's portfolio and will be launching a
comprehensive exploration program for all our important silver
properties at Crown King,
beginning next month."
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.
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Q-Gold is a Canadian-based mineral exploration company currently
exploring for precious and base metals on its 26,000 acres of
Ontario holdings in the historic
Gold Camp at Mine Centre,
including 5 historic gold mines. In addition, the Corporation holds
options on historic gold and silver mines in the historic
Arizona gold camp of Crown King, and copper prospects in eastern
and western Arizona.
For all future Q-Gold investor relations needs, investors are
asked to visit the Q-Gold IR Hub at
http://www.agoracom.com/IR/Q-Gold where they can post questions and
receive answers within the same day, or simply review questions and
answers posted by other investors. Alternatively, investors are
able to email all questions and correspondence to QAU@agoracom.com
where they can also request addition to the investor email list to
receive all future press releases and updates in real time.
The statements made in this Press Release may contain
forward-looking statements that may involve a number of risks and
uncertainties. Actual events or results could differ materially
from the Company's expectations and projections. 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.
SOURCE Q-Gold Resources Ltd.
Copyright . 13 PR Newswire
