NQ Exploration Inc.
TSX VENTURE : NQE

NQ Exploration Inc.

March 07, 2011 09:49 ET

NQ Exploration Expends its Land Position in the Selbaie Mining District

LAVAL, QUEBEC--(Marketwire - March 7, 2011) - NQ Exploration Inc. (TSX VENTURE:NQE) is pleased to announce that it has become the largest land holder in the Selbaie polymetallic mining district.

Since 2010, NQ has made the Selbaie district its main priority and any opportunity to expend it land holding is being evaluated. At the beginning of the year, the Carheil property consisted of 129 claims covering 3,951 hectares. Since then, the Company increased its land holding to 146 claims covering 4,763.75 hectares. These new mining titles are contiguous or very close to the existing property. This acquisition was achieved through map staking therefore, NQ has a 100% interest in them. The Company also has an option to earn a 50% interest in the contiguous Brouillan property (834 hectares).

Update on current drilling program

NQ has started a 5,000 m definition drilling program on its Nordest showing located in the northeastern portion of the Carheil property. Four holes have been completed so far and partial results should be received within 5 to 10 days. They will be released as soon as they are compiled.

The Nordest showing exhibits a style of mineralization that is typical of the Selbaie district (stringer sulphides within altered felsic volcanic units). However, the mineralization in the Ag 1 Zone, which is part of the Nordest showing, is characterized by high silver grades not seen elsewhere in the district (see table below).

Ag 1 Zone  
CA2009-05: 1.58% Zn, 524 g/T Ag over 10.5 m
CA2010-09: 0.66% Zn, 266 g/T Ag over 7.25 m
  and 0.38% Zn, 296 g/T Ag over 2.45 m
     
     
Other Significant Results  
   
CA2009-01 0.78% Zn over 78.2 m
CA2009-02 0.64% Zn, 74.1 g/T Ag over 10.9 m
CA2009-04 1.29% Zn, 43.4 g/t Ag over 11.5 m
CA2009-07 1.78% Cu, 18.5 g/T Ag, 4.78 g/T Au over 1.3m
CA2010-09 1.07% Zn, 15.5 g/T Ag, 2.55 g/T Au over 2.0 m

The Ag 1 Zone is the richest silver discovery in Quebec. The silver mineralization is related to silicification and to zinc and lead stringer sulphides. Copper and gold mineralization is also found within the altered felsic pile at deeper levels. This polymetallic mineralization is found within a chloritic and silicified sub-concordant alteration pipe related to a VMS type of deposits.

The technical content of this press release has been checked by Pierre O'Dowd, geologist and vice president of exploration for NQ Exploration Inc. Mr. O'Dowd is a qualified person under Regulation 43-101 respecting standards of disclosure for mineral projects.

ABOUT NQ EXPLORATION INC.

NQ Exploration Inc. is a mining exploration company with a solid portfolio of 10 mining properties in the James Bay and Abitibi regions of Quebec. NQ Exploration Inc. is betting on Quebec's excellent mineral potential and favourable investment climate to produce new world-class gold and base metal deposits.

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

  • NQ Exploration Inc.
    David Grondin
    President and Chief Executive Officer
    514-206-7727
    www.explorationnq.com