Great Quest Metals Ltd

Published : July 29th, 2010

Sanoukou Gold Concession Advanced to Drill-Ready Status

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Keywords :   Canada | Debt | Gold | Mali | Phosphate |

GQ Logo

Suite 515, 475 Howe Street

Vancouver, BC, Canada  V6C 2B3

Tel:   604-689-2882    Website:  www.greatquest.com

Fax:  604-684-5854     Email:  info@greatquest.com

 

July 29, 2010

Great Quest?s Sanoukou Gold Concession Advanced to Drill-Ready Status

 

VANCOUVER, BC -- Willis W. Osborne, President of Great Quest Metals Ltd. (TSXV: GQ; Frankfurt: GQM) is pleased to announce the latest sample results from the Sanoukou gold concession, as well as highlights from a qualifying report on the Sanoukou gold concession by Jed Diner (M.Sc., P.Geol.), the Company?s new Qualified Person (QP) in Mali pursuant to NI 43-101.

Mr. Diner states in his July report, Geology and Exploration Potential Sanoukou Concession, that gold mineralization on the Sanoukou project occurs mainly in quartz veinlets in albitite dykes and at times in the immediate wall rock of the Birimian metasediments.  The quartz veinlets, 0.1 to 1.0 centimetres wide, usually constitute 1 ? 10% volume of the dyke.

Mr. Diner took two samples while visiting the Sanoukou concession in June. The first sample, consisting of fragments of sericitized albitite with a 5% volume of quartz veins, was taken from around a pit dug by orpailleurs, or hand miners, along the Daganiaba dyke just north of the village of Sanoukou.  This sample assayed 4,350 parts per billion (ppb) or 4.35 grams per tonne gold.  The second sample, taken as a semi-continuous chip sample from 4 pits dug across the 10 metre wide Krouguedia albitite dyke, located west of Sanoukou, assayed 1,205 ppb.  A total of 9 samples over 720 metres along this dyke range from 19 to 5,730 ppb and average 1,420 ppb.

Samples were processed by ALS Chemex in Bamako, Mali.  The samples were crushed, split and pulverized.  Thirty grams from each sample were tested for gold by fire assay-AA.  All samples with initial results over 10,000 ppb had two additional determinations by gravimetric, 30 gram fire assay.

Mr. Diner further points out that in 1997-98, SOMIFIM ? SONARIM followed up anomalies from a soil sampling survey with a RAB drilling program.  Some of the more noticeable intersections from this program on the Sanoukou concession include the following:

Drill Hole

Intersections in Metres

Parts per Billion Gold

Grams per Tonne Gold

RAB 33

3

4,690

4.69

RAB 53

19

2,590

2.59

RAB 84

3

5,020

5.02

RAB 93

7

3,650

3.65

There is no evidence that these results were subsequently followed up.

. . . /2


GQ Logo

 

News Release

July 29, 2010

Page Two

 

 

 

 

Some of the conclusions of Mr. Diner?s report appear below:

?  The Sanoukou concession has potentially economic gold grades over 6 km of strike length.  This is coupled to the presence of orpaillage (artisanal) workings over this whole area, over a width of 1 km or more.

?  The geology and mineralization appear very similar to the 2 million ounce Tabakoto deposit, 11 km to the north.

?  The main control on mineralization is a set of sub parallel NE-SW steeply dipping albitite dykes 1 to 15 m wide.  At least 8 mineralized dykes are presently recognized.

?  The main ore controls are:

the presence of altered albitite dykes;

the presence of significant quartz veining, both NE and EW trending; and

axial planes of isoclinal anticlines which trend mostly NS.

Mr. Diner concludes his report by recommending a drill program.  The Company will conduct an extensive drill program on the concession after the rainy season in August and September.  Mr. Diner?s report will be filed on the Company?s website and on SEDAR.  Mr. Diner (P.Geol.) has approved the contents of this News Release.  His appointment as QP was announced June 9, succeeding Carl Verley (P.Geol.).  The Company wishes to thank Mr. Verley for his valued contributions to its projects in Mali.

The Company is now planning for work on its phosphate concessions in Mali on receipt of permits and will be initiating field work there as part of a comprehensive approach to the exploration and development on the Tin Hina and Tarkint Est concessions covering 737 sq km prospective for phosphate rock.

ON BEHALF OF THE BOARD OF DIRECTORS

OF GREAT QUEST METALS LTD.

 

?Willis W. Osborne?

Willis W. Osborne

President

 

Great Quest is a Vancouver based exploration company with a focus on Mali, where it holds large concessions prospective for phosphate and several exploration-stage gold projects.  The Company is funded this year from the proceeds of sale of its Kenieba gold project in Mali to Avion Gold Corp. and is debt free.

 

 

 

 

For additional information please contact:

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

Standard & Poor?s 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 : Canada | Mali | All
Gold and Silver Prices for these countries : Canada | Mali | 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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