Q-GOLD REPORTS ON MINE CENTRE, ONTARIO DRILLING
Vancouver, British Columbia,
September 22, 2011 � Q-Gold Resources Ltd. (the "Company" or
"Q-Gold") (TSX VENTURE: QGR) (http://www.qgoldresources.com)
announced today that it has completed the first 15 diamond drill holes into the
McKenzie Gray gold/ silver deposit in its Phase III program for the Company�s
2009 discovery near Mine Centre Ontario. The first batch of 147 samples
has been sent to TSL Laboratories in Saskatoon, Saskatchewan for assay.
Assay results will be reported when received.
After a rig change-out at
the driller�s request, additional drilling will resume early next week to
initiate two deep (300+ metre) holes. These will
attempt to establish the presence at depth of the gold/ silver mineralized
zone, which is presently �open� at a depth of 150 m.
The deposit consists of a
10-25 m wide (32.8 � 82.0 feet), steeply dipping alteration/ foliation envelope
extending over a known strike length of 150 metres
and containing a mineralized vein system consisting of two veins. The first
vein, referred to as the �McKenzie Gray Vein�, contains gold, sphalerite (zinc sulfide) and silver (argentite) along with
minor galena and chalcopyrite; the second vein, currently referred to as the
�Main Vein�, consists of quartz-rich zones ranging, on average, from 2 to 6 metres (true width) and containing disseminated silver
(argentite) along with chalcopyrite (copper iron sulfide) and pyrite (iron
sulfide). The mineralized vein system and accompanying alteration/
foliation envelope extends from surface to at least 150 m (492 ft.) in depth,
where it has been intersected by Q-Gold�s drill holes.
The current drilling
program is also attempting to establish the mineralized zone in �open�
directions to the Northwest and Southeast by drilling a series of 3 �fan
holes�, each drilled from one location.
Depending on current assay
results obtained at McKenzie Gray, additional drilling at Mine Centre will be
conducted this Fall, to further delineate the
deposit. The program will also drill additional holes into the
gold-bearing �Bonanza� and in to the �Vowel� veins in the Foley Gold Mine
Complex. The Bonanza vein produced 5,267 �officially recorded� ounces of
gold from surface to 200 feet underground, principally in the 1890�s. The
Vowel Main vein extends over a distance of 116 metres
and yielded weighted average gold values of 6.19 grams per tonne
(g/t), [0.181 ounces per ton (opt)] over an average width of one metre from 10 surface trenches. As an example, the weighted
average grade from Trench �V-25� returned gold assays of 15.2 g/t [0.44 opt] and
21.69 g/t [0.633 opt] across 0.70 metres.
Q-Gold President Robert
Gardner stated "The first 30 holes drilled by Q-Gold at McKenzie Gray have
all intersected the mineralized zone. I hope pending assay results
confirm the continuance of this trend."
The Company also announced
the resignation of John Campbell as Director and Chief Executive Officer of
Q-Gold to pursue other business opportunities, effective September 15, 2011.
The technical content of
this release was reviewed and approved by Delio Tortosa M.Sc., P.Eng., a Qualified Person as defined by National Instrument
43-101.
About Q-Gold Resources Ltd.
Q-Gold is
a Canadian based mineral exploration company currently exploring for precious
and base metals on its Ontario and Arizona prospects.
"Historical
reports" referred to in this release have been examined but not verified
by a "Qualified Person" under the requirements of NI 43-101 and
therefore should not be relied on for any purpose.
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.
Contact
Information:
J. Bruce Carruthers II, Chairman at 1-888-779-0166 or
info@qgoldresources.com
Website: http://www.qgoldresources.com
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