Northquest Ltd.
TSX VENTURE : NQ

Northquest Ltd.

April 19, 2010 16:34 ET

Northquest Ltd.: Drilling Program Commences at the High Falls Gold Project, Ontario

TORONTO, ONTARIO--(Marketwire - April 19, 2010) - Northquest Ltd. (TSX VENTURE:NQ) ("Northquest") announces that it has started a 400 to 500 metre diamond drilling program at its High Falls Gold Project near Wawa, Ontario. Northquest currently holds the option to acquire a 100% interest, subject to a 3% net smelter return royalty, in the High Falls Project, which is comprised of 13 unpatented mining claims covering an area of approximately 800 hectares.

The High Falls project is in the Michipicoten greenstone belt, which has historical gold production plus reserves of over three million ounces of gold. It is anticipated that the drilling program will consist of 400 to 500 metres of drilling in the vicinity of the Hubcap Occurrence which was discovered by a local prospector in the winter of 2009. Northquest completed a program of mechanical stripping and channel sampling on the property in the summer of 2009. At the Hubcap Occurrence, a contiguous 4.2 metre long horizontal channel sample, collected in 2009, with a diamond saw, contained samples ranging from 1.3 grams gold per ton to 11 grams gold per tonne. The gold is contained in quartz veins and silicified shear zones with pyrite and magnetite in gabbro and volcanic rocks. The potential quantity and grade of gold is conceptual in nature. There has been insufficient exploration to define a mineral resource on the High Falls property to date and it is uncertain if further exploration will result in the target being defined as a mineral resource.

The information obtained in this drilling program will provide the information required for additional drilling and surface geological and geophysical surveys which may be completed on the project contingent upon favourable results obtained from this drilling program.

Northquest is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of gold and other minerals. Northquest has 17,253,139 shares outstanding (27,193,139 on a fully diluted basis).

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

  • Northquest Ltd.
    Mr. Jon North
    President and Chief Executive Officer
    (416) 786-6348
    www.northquest.biz