Great Quest Metals Ltd

Published : September 26th, 2011

GQ - NEWS RELEASE SEPTEMBER 26, 2011

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Suite 515, 475 Howe Street

Vancouver, BC, Canada  V6C 2B3

 

Tel:   604$B!>(B689$B!>(B2882                         Website:  www.greatquest.com

Fax:  604$B!>(B684$B!>(B5854                              Email:  info@greatquest.com

 

Great  Quest  Metals  Ltd.:  Phase  1  Tilemsi  Phosphate

Drilling  Completed  with  Favourable  Results

 

VANCOUVER, BRITISH COLUMBIA--(September 26, 2011) - 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 Phase I drilling campaign recently completed at the Company$B!G(Bs Tilemsi phosphate project has confirmed the presence of high quality P2O5 phosphate mineralization, showing a strong correlation with the targets from the remote sensing study and prior reconnaissance work carried out on the concessions.

 

A total of 275 drill holes for 5049 meters were drilled using two contractors, covering a small portion of the company$B!G(Bs 737 km2 project. The program was executed on 2 of the presently defined 5 target areas ? the Tin Hina (TH) and Alfatchafa (AF) hills. The highly prospective Chanameguille target was not tested in the initial round of drilling. Only some of the visually distinguishable occurrences of mineralization were sampled. At Tin Hina drill holes intersected 2 distinct horizons (seams) of phosphate mineralization.  Seam $B!H(BA$B!I(B averaged

23.73% P2O5 present in 104 of the drill holes and averaged 1.43m thick at an average depth of 6.62 m. These holes include 4 deeper holes which intercepted a second seam which averaged 27.60% P2O5 with an average thickness of 1.75m at an average depth of 8.00m below the seam A. The lower seam may extend further but shallow drill holes would not have intercepted it. Successful drill holes cover a surface area of approximately 6.75km2 on Tin Hina.

 

Drilling on the Alfatchafa target identified a single seam with samples averaging 22.69% P2O5 from 72 drill holes with an average thickness of 0.90 m at an average depth of 18.75m. Successful drill holes covered an area of approximately 6.70km2 on this target area. The overburden in both areas consists of loose sands and silts.

 

Assay results from the drill samples suggest the phosphate rock in both target areas is identical and of very high quality. The phosphate rock is very low on 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 size fraction analysis or concentration tests were attempted in this phase of work but historical work suggests that inexpensive techniques could be used to achieve attractive concentrate grades, and removal of alumina and ferro-oxides would be simple.

 

The average percent of analyzed major oxides in the phosphate rock are presented below:

 

Area

P2O5         SiO2        Al2O3       Fe2O3        CaO      MgO     Na2O    K2O    TiO2      MnO     BaO

LOI

CaO/P2O5

AF

22.69    17.44      4.71       6.76      33.42      1.15      0.23     0.24    0.36     0.93     0.09

10.14

1.47

TH  a

23.73    16.08      4.22       7.13      34.65      0.85      0.23     0.24    0.38     1.35     0.20

9.73

1.46

TH  b

27.60     9.49      2.77       5.63      40.56      0.69      0.27     0.17    0.22     1.31     0.14

9.30

1.47

 

Mr. Ehud Levy, a phosphate expert and Director of the company, who up to two years ago was managing director of Bateman Chemical Technologies, the Chemical division of the Bateman Litwin Group stated, $B!H(Bthe preliminary results from the exploratory drilling are promising and show that the phosphate rock is of high quality, which is most likely to make it suitable for direct application, as well as phosphoric acid and fertilizer production.$B!I(B  Natural phosphate rock is favoured for the generally acidic soils of the agricultural zones in Mali.

 

12g3-2(b) Exemption #82-3116                                                                                                                                Investor Relations:

Standard & Poor$B!G(Bs Listed                                                                                                                   George Butterworth:                604-689-2882

Trading Symbol: GQ         Frankfurt Exchange: GQM                                                                       Toll Free:                                 877-325-3838

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. 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.


 

This first phase of drilling was accomplished using an aircore drill rig for the first 36, followed by Rotary Air Blast $B!H(BRAB$B!I(B for the rest of the holes. With both rigs, drilling in overburden proceeded with samples taken every 1m. The sampling protocol required that on or before entering the phosphate layer the sample intervals were reduced to 25cm to enable overburden and seam thickness determination.  These phosphate rock samples were later combined and shipped to the ALS Minerals facility in Bamako, Mali for sample preparation. Sachets of the ground weighed samples were sent to the ALS Minerals Vancouver lab for XRF analysis of P2O5 and major oxides . ALS standards and standards from a third party source were added to the sample list.

Multi-element ICP analysis was also carried out on selected samples, about 1 for every 10 samples.

 

This first phase of drilling has confirmed the presence of significant areas of phosphate mineralization.  A second phase is planned that will follow up on the success and seek to extend areas identified at both Tin Hina and Alfatchafa, which both remain open in multiple directions, particularly to the east and south of Tin Hina. Company prospecting and remote sensing work suggest the mineralization could extend materially. The company also intends to drill test the Chanameguille target and other targets to the north of the areas drilled. The Company$B!G(Bs Malian subsidiary is proceeding with plans for continued drilling, bulk sampling, concentration tests and preparation of a Preliminary Economic Assessment, which will provide an initial techno-economic evaluation of the project.

 

Follow link to remote sensing work outlining prospective targets on the Tilemsi property http://www.greatquest.com/i/pdf/Tilemsi-Project-Remote-Sensing.pdf

 

Qualified Person

Jed Diner (P Geo) 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 MSc in Applied Earth Science at Stanford University in

1983 and works internationally on mineral exploration and resource development projects.  He has consulted on Phosphate projects in Uzbekistan, Peru and Angola.

 

ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST METALS LTD.

 

$B!H(BVictor J.E. Jones$B!I(B 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 737 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).

 

12g3-2(b) Exemption #82-3116                                                                                                                                Investor Relations:

Standard & Poor$B!G(Bs Listed                                                                                                                   George Butterworth:                604-689-2882

Trading Symbol: GQ         Frankfurt Exchange: GQM                                                                       Toll Free:                                 877-325-3838

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. 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.

 

 

 

 

 

Data and Statistics for these countries : Angola | Mali | Peru | Uzbekistan | All
Gold and Silver Prices for these countries : Angola | Mali | Peru | Uzbekistan | All

Great Quest Metals Ltd

EXPLORATION STAGE
CODE : GQ.V
ISIN : CA3909121038
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Great Quest Metals is a gold and copper development stage company based in Canada.

Great Quest Metals holds various exploration projects in Mali.

Its main exploration properties are KENIETI, BOURDALA, KENIEBA, TIN HINA and SANOULOU in Mali and TASEKO in Canada.

Great Quest Metals is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 537 200 as of today (US$ 429 519, € 407 640).

Its stock quote reached its highest recent level on May 27, 2011 at CA$ 4.88, and its lowest recent point on August 11, 2023 at CA$ 0.01.

Great Quest Metals has 53 720 000 shares outstanding.

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Financings of Great Quest Metals Ltd
5/24/2013Announces Private Placement
9/14/2012Agrees to a Private Placement of $1=2C152=2C850
1/1/2009Announces $120,000 Private Placement
7/9/2008AGM and Private Placement Closes
Option Grants of Great Quest Metals Ltd
11/25/2009Grant of Stock Options
12/30/2008Grant of New Stock Options, Cancellation and Re-Issuance of ...
Nominations of Great Quest Metals Ltd
8/13/2013Appoints Abdoulaye Pona to the Board of Its Mali Subsidiary
5/13/2013Announces AGM Results-Appoints Jed Richardson CEO
7/23/2010Appointment of New Director Signals Focus on Malian Phosphat...
4/8/2010Appoints New Director and Grants Options
Project news of Great Quest Metals Ltd
3/25/2011(Sanoulou)Mobilizes for Gold Drilling
2/21/2011Remote Sensing Identifies Phosphate Targets
6/3/2010(Kenieba)Sampling Program Identifies Gold in Over 8 Albitite Dykes on...
4/21/2010(Kenieba)Defines Gold Soil Anomaly on Dabia Ouest Concession
6/5/2009(Tilemsi Phsophate)Update on Tilemsi Phosphate Project
12/24/2008(Tilemsi Phsophate)Granted Extension to January 31, 2009 on the Exercise of Til...
11/24/2008(Tilemsi Phsophate)Receives Further Approvals for Tilemsi Phosphate Project
9/10/2008(Taseko)Announces Results of the 2008 Drill Program on the Taseko Pr...
7/2/2008(Taseko)2008 Drill Program on the Taseko Property to Start by July 7...
6/4/2008(Taseko)Start Drill Program on Taseko Property in early July
Corporate news of Great Quest Metals Ltd
11/4/2015Tests Conclude the GQ Blends Are a Recommended Replacement f...
10/1/2015Nevada Sunrise Appoints David Shaw to Advisory Board
9/17/2015Preparation Laboratory: On Time, On Budget
9/8/2015Great Quest Announces $200,000 Private Placement
6/22/2015Great Quest Announces AGM Results
3/2/2015Great Quest Clarifies Its Technical Disclosure, and Northern...
2/3/2015Great Quest Files Updated PEA for Multi-Phased Phosphate Pro...
9/22/2014IIROC Trading Resumption - GQ
9/19/2014IIROC Trading Halt - GQ
7/23/2014Great Quest Announces a New Partnership With the Aga Khan De...
3/26/2014Tilemsi Bulk Samples Average Above 24% Drilled Inferred Reso...
9/30/2013.: Sanoukou Gold Program Reports Chip Samples of Up to 24.9 ...
9/18/2013to Resume Exploration Program at the Tilemsi Phosphate Proje...
6/20/2013Congratulates Mali on the 'Historic' Kidal Agreement
4/29/2013Corporate Update-Pursuing Routes to Restoring Value
3/18/2013Adopts Advance Notice Policy for Future Shareholder Meetings
2/7/2013Files PEA and Confirms Robust Economic Results on Tilemsi Ph...
1/22/2013Granted Permit for Aderfoul Concession, Tilemsi Phosphate Pr...
1/16/2013Comments on Market Activity and Provides Corporate Update
10/10/2012Grants Stock Options
9/17/2012Completes $1=2C152=2C850 Private Placement and Appoints Inve...
7/9/2012=2D News Alert
5/29/2012Alert
3/7/2012- news release
6/13/2011. Announces Results of Annual General Meeting
6/2/2011Accelerates Phosphate Exploration
5/11/2011.: Tilemsi Phosphate Drilling Commences
3/8/2011Initiates Phosphate Studies
2/22/2011Receives Escrowed Shares
2/18/2011.: Arrete de la Miniere Permits Received for the Tilemsi Pho...
2/16/2011Retransmission-Great Quest Metals Ltd.: Remote Sensing Ident...
7/29/2010Sanoukou Gold Concession Advanced to Drill-Ready Status
7/8/2010Phosphate Advisory Committee Appointed for Mali Phosphate Pr...
6/23/2010Expands Phosphate Concession Areas in Mali to 737 sq km
6/9/2010Reports on its Annual General Meeting
4/13/2010Acquires the Sanoukou Gold Concession in Western Mali
1/18/2010Acquires Option on Concession in Prolific West Mali Gold Bel...
1/9/2010Completes Sale of Kenieba Concessions for Cash and Shares of...
9/3/2009Reports Area of Tin Hina Concession Increased from 230 to 41...
7/10/2009Reactivates the Baoule River Gold Concession
12/4/2008Amends Warrant Terms
11/3/2008is Granted the Right to Acquire a Majority Interest in the T...
11/8/2007 Completes Sale of Convertible Debenture
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