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Great Quest Accelerates Phosphate Exploration
Published : June 02, 2011
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Mots clés associés :   Mali |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 2, 2011) - Victor J.E. Jones, Chairman and CFO of Great Quest Metals Ltd. (News - Market indicators)(FRANKFURT:GQM), is pleased to report that the Company is mobilizing a second air-core drill to be onsite for its Tilemsi phosphate project in Eastern Mali next week, to accelerate the exploration program. The drilling program is targeting several hills within the 737 km2 project area where geological reconnaissance and remote sensing data have indicated the potential for extensive occurrences of natural phosphate rock P2O5. The principal uses of phosphate rock are as a direct application fertilizer and the production of phosphoric acid for beneficiated fertilizers.

To date over 38 drill holes have been completed on 500 m grid spacing to cover an area of about 10 km2 within the Alfatchafa hill target with visible phosphate intercepts in over half of the holes. Depth to the top of the visible phosphate horizon varies between 1-23 m and thickness varies between 0.5-2.0 m. The thickening of the phosphate bearing bed beyond 1.0 m in some of the drill holes has been a positive surprise. The Company has executed a new contract to provide two drill rigs for the project which will continue initial drilling on 500 m grid spacings on the various target hills and follow up infill drilling on 250 m spacings, as planned for this 800 hole Phase 1 program. As anticipated, estimates of the thickness of the phosphate (P2O5) horizon vary and will be better confirmed by x-ray fluorescence analysis. Samples are being prepared in Bamako, Mali, for onward shipment to Vancouver, BC for XRF and multi-element analysis.

Initial reconnaissance work in 2009 by the Company on the Alfatchafa hill identified phosphate mineralization along the perimeter (News Release dated August 20, 2009) with phosphate grades from 26 samples ranging from 5.11% to 33.05% P205, with an average of 24.5% P2O5. Subsequent analysis of remote sensing data from the project area carried out earlier this year suggests extensive apparent phosphate mineralization associated with Alfatchafa and several of the surrounding hills. The analysis is presented on the Company's website at www.greatquest.com.

The Tilemsi phosphate deposits occur in a similar geological sedimentary setting to the phosphate deposits found in Morocco and are of Eocene period. The current program represents the first comprehensive drilling and geological program on the Company's two phosphate concessions, Tarkint Est and Tilemsi (Tin Hina).

In Morocco, the 2nd largest exporter of phosphate rock, production comes primarily from four main phosphorite deposits controlled by l'Office Chérifien de Phosphates du Maroc, "OCP". OCP reports some 85,000 Mt of phosphorite resources hosted in upper cretaceous, Paleocene and Eocene sediments. At the OCP Benguérir mine just north of Marakesh mineable phosphate-rich beds range from 1 m to 3 m in thickness and grade 22% to 28% P2O5.

The drilling on the Tilemsi project is continuing and further reports will be made as results become available.

Jed Diner (P Geo) is the Qualified Person responsible in accordance with NI 43-101 with the review and approval of the contents of this News Release.

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

Victor J.E. Jones, Chairman

Great Quest Metals Ltd. is a Canadian mineral exploration company carrying out exploration in Mali, West Africa. The Company is focused on developing the Tilemsi Phosphate Project, encompassing 737 km2 in eastern Mali. It 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

Standard & Poor's Listed

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.

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

Great Quest Metals Ltd.
George Butterworth
Investor Relations
604-689-2882 or Toll Free: 877-325-3838
604-684-5854 (FAX)
info@greatquest.com
www.greatquest.com
Données et statistiques pour les pays mentionnés : Mali | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Mali | Tous

Great Quest Metals Ltd

EXPLORATEUR
CODE : GQ.V
ISIN : CA3909121038
Suivi et investissement
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Great Quest Metals est une société développant des projet miniers d'or et de cuivre basée au Canada.

Great Quest Metals détient divers projets d'exploration au Mali.

Ses principaux projets en exploration sont KENIETI, BOURDALA, KENIEBA, TIN HINA et SANOULOU au Mali et TASEKO au Canada.

Great Quest Metals est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 537 200 CA$ (429 519 US$, 407 640 €).

La valeur de son action a atteint son plus haut niveau récent le 27 mai 2011 à 4,88 CA$, et son plus bas niveau récent le 11 août 2023 à 0,01 CA$.

Great Quest Metals possède 53 720 000 actions en circulation.

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Financements de Great Quest Metals Ltd
24/05/2013Announces Private Placement
14/09/2012Agrees to a Private Placement of $1=2C152=2C850
01/01/2009Announces $120,000 Private Placement
09/07/2008AGM and Private Placement Closes
Attributions d'options de Great Quest Metals Ltd
25/11/2009Grant of Stock Options
30/12/2008Grant of New Stock Options, Cancellation and Re-Issuance of ...
Nominations de Great Quest Metals Ltd
13/08/2013Appoints Abdoulaye Pona to the Board of Its Mali Subsidiary
13/05/2013Announces AGM Results-Appoints Jed Richardson CEO
23/07/2010Appointment of New Director Signals Focus on Malian Phosphat...
08/04/2010Appoints New Director and Grants Options
Projets de Great Quest Metals Ltd
25/03/2011(Sanoulou)Mobilizes for Gold Drilling
21/02/2011Remote Sensing Identifies Phosphate Targets
03/06/2010(Kenieba)Sampling Program Identifies Gold in Over 8 Albitite Dykes on...
21/04/2010(Kenieba)Defines Gold Soil Anomaly on Dabia Ouest Concession
05/06/2009(Tilemsi Phsophate)Update on Tilemsi Phosphate Project
24/12/2008(Tilemsi Phsophate)Granted Extension to January 31, 2009 on the Exercise of Til...
24/11/2008(Tilemsi Phsophate)Receives Further Approvals for Tilemsi Phosphate Project
10/09/2008(Taseko)Announces Results of the 2008 Drill Program on the Taseko Pr...
02/07/2008(Taseko)2008 Drill Program on the Taseko Property to Start by July 7...
04/06/2008(Taseko)Start Drill Program on Taseko Property in early July
Communiqués de Presse de Great Quest Metals Ltd
04/11/2015Tests Conclude the GQ Blends Are a Recommended Replacement f...
01/10/2015Nevada Sunrise Appoints David Shaw to Advisory Board
17/09/2015Preparation Laboratory: On Time, On Budget
08/09/2015Great Quest Announces $200,000 Private Placement
22/06/2015Great Quest Announces AGM Results
02/03/2015Great Quest Clarifies Its Technical Disclosure, and Northern...
03/02/2015Great Quest Files Updated PEA for Multi-Phased Phosphate Pro...
22/09/2014IIROC Trading Resumption - GQ
19/09/2014IIROC Trading Halt - GQ
23/07/2014Great Quest Announces a New Partnership With the Aga Khan De...
26/03/2014Tilemsi Bulk Samples Average Above 24% Drilled Inferred Reso...
30/09/2013.: Sanoukou Gold Program Reports Chip Samples of Up to 24.9 ...
18/09/2013to Resume Exploration Program at the Tilemsi Phosphate Proje...
20/06/2013Congratulates Mali on the 'Historic' Kidal Agreement
29/04/2013Corporate Update-Pursuing Routes to Restoring Value
18/03/2013Adopts Advance Notice Policy for Future Shareholder Meetings
07/02/2013Files PEA and Confirms Robust Economic Results on Tilemsi Ph...
22/01/2013Granted Permit for Aderfoul Concession, Tilemsi Phosphate Pr...
16/01/2013Comments on Market Activity and Provides Corporate Update
10/10/2012Grants Stock Options
17/09/2012Completes $1=2C152=2C850 Private Placement and Appoints Inve...
09/07/2012=2D News Alert
29/05/2012Alert
07/03/2012- news release
13/06/2011. Announces Results of Annual General Meeting
02/06/2011Accelerates Phosphate Exploration
11/05/2011.: Tilemsi Phosphate Drilling Commences
08/03/2011Initiates Phosphate Studies
22/02/2011Receives Escrowed Shares
18/02/2011.: Arrete de la Miniere Permits Received for the Tilemsi Pho...
16/02/2011Retransmission-Great Quest Metals Ltd.: Remote Sensing Ident...
29/07/2010Sanoukou Gold Concession Advanced to Drill-Ready Status
08/07/2010Phosphate Advisory Committee Appointed for Mali Phosphate Pr...
23/06/2010Expands Phosphate Concession Areas in Mali to 737 sq km
09/06/2010Reports on its Annual General Meeting
13/04/2010Acquires the Sanoukou Gold Concession in Western Mali
18/01/2010Acquires Option on Concession in Prolific West Mali Gold Bel...
09/01/2010Completes Sale of Kenieba Concessions for Cash and Shares of...
03/09/2009Reports Area of Tin Hina Concession Increased from 230 to 41...
10/07/2009Reactivates the Baoule River Gold Concession
04/12/2008Amends Warrant Terms
03/11/2008is Granted the Right to Acquire a Majority Interest in the T...
08/11/2007 Completes Sale of Convertible Debenture
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