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Re: News Release - Monday, September 21, 2009
Drill Program Commences on the Capoose-Silver Trend Project
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Silver Quest Resources Ltd. (the "Company") is pleased to report that a
diamond drill program has commenced on the Capoose-Silver Trend
project, located approximately 185 kilometres by road, west-southwest
of Prince George, British Columbia (see www.silverquest.ca for property
details and locations).
The Capoose-Silver Trend property, comprises 15 claims on 6,634
hectares, and covers three zones of disseminated silver and gold
mineralization and a 4.5 kilometre long geochemical anomaly.
Historical resources on Zones 1 and 2 (previously reported by Pan
American Silver Corp. dated April 17, 2000 on SEDAR) are stated to be
32.66 million ounces of silver and 308,500 ounces of gold (consisting
of 28.22 million tonnes averaging 36.0 grams per tonne (g/t) silver and
0.34 g/t gold).
This historical resource estimate completed by Pan American Silver Corp.
was not compiled within the definitions and standards outlined in
National Instrument 43-101. As the Company has not completed a updated
resource estimation, it cautions that the historical resource estimate
cannot be relied upon.
The proposed drill program will be a minimum of 10 holes (1,500 metres)
and is designed to test multiple targets as well as to test the southern
extensions of both Zone 1 and Zone 2. Results from twelve intersections
in ten holes from last year's (2008) drill program returned a weighted
average of 49.7 metres grading 40.0 g/t silver and 0.53 g/t gold.
This represents an 11.0% higher grade for silver and a 55.4% higher grade
for gold, than the average historical resource grade.
The program will also further test for expansion of the mineralization
intersected in hole D-91 (2008) which returned 240.0 metres averaging
45.4 g/t silver and 0.76 g/t gold. Included in this intercept were two
upper zones of higher grade silver mineralization, including an 18.0
metre intercept averaging 157.50 g/t silver and 0.59 g/t gold and; a
34.0 metre intercept averaging 81.8 g/t silver and 0.96 g/t gold.
Other targets include the eastern down-dip projection of hole D-89
which returned 10.4 metres averaging 80.40 g/t silver and 1.89 g/t gold
from a depth of 19.0 metres.
David Pawliuk, P.Geo., is the onsite qualified person for the current
drill program, and Robert Weicker, P.Geo., is the qualified person, as
defined by National Instrument 43-101, for the Capoose-Silver Trend
project and supervised the preparation of the technical information in
this release.
SILVER QUEST RESOURCES LTD.
"Randy Turner"
Randy Turner, Chairman
For further information please contact Investor Relations at
604-687-3959 or info@silverquest.ca
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents of this
news release.
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Copyright (c) 2009 SILVER QUEST RESOURCES LTD. (SQI) All rights
reserved. For more information visit our website at
http://www.silverquest.ca/ or send mailto:info@silverquest.ca
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Silver Quest Resources Ltd.
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CODE : SQI.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Silver Quest Res. is a silver exploration company based in Canada. Silver Quest Res. is listed in Canada. Its market capitalisation is CA$ 128.7 millions as of today (US$ 127.6 millions, € 91.8 millions). Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.02, and its highest recent level on November 04, 2011 at CA$ 1.28. Silver Quest Res. has 109 983 000 shares outstanding. |