NQ Exploration Inc.
TSX VENTURE : NQE

NQ Exploration Inc.

November 15, 2010 12:30 ET

NQ Starts Exploration Work in the Lac Shortt Mine Area

LAVAL, QUEBEC--(Marketwire - Nov. 15, 2010) - NQ Exploration Inc. (TSX VENTURE:NQE) is pleased to announce that it has started exploration work on its various properties in the Lac Shortt mining camp near Desmaraisville in northwestern Quebec.

With its recent acquisitions in the mining camp (La Roncière and Lac Shortt properties; NQ already owned a 100% interest in the Gand property, which lies between the two new acquisitions, and the Opawica property farther west), the Company now controls more than 17 km of favourable gold-bearing structures and most of the known gold showings in the mining camp. 

Stripping and channel sampling were carried out on the Gand and La Roncière properties in the fall. This work was aimed at exposing favourable structures within the Opawica-Guercheville deformation corridor (host of the Lac Shortt and Joe Mann mines farther east). Stripping on the Gand property revealed a wide, intensely-altered shear zone (iron carbonates, fuchsite, chlorite, and local silica and sericite) locally mineralized in fine pyrite. Injections of quartz and carbonate are developed locally along the more intensely sheared zones. On the La Roncière property, stripping took place on the Track showing, a gold occurrence discovered over 50 years ago that has returned very interesting drill results, including 50.5 g/t Au over 2.1 metres (Hole W-GF-83-3). The goal of the stripping work was to expose the gold-bearing quartz vein and a cross-section some one hundred metres long to better understand the geological setting and intercept any other mineralized structures. The channel sampling results will be reported as they are received and compiled. 

NQ Exploration's strategy in this area is to compile the historical data on the many gold showings and generate new drill targets in the short term to supplement its previously-identified targets. It should be noted that earlier operators (primarily Metall Mining Corporation) confirmed the presence of low-grade gold mineralization by drilling on the La Roncière property. Most of the past work was done on the Mariposite showing. Metall mentions a historical resource of 0.7 million tonnes grading 2 g/t Au and another block of over 2 million tonnes at 1 g/t Au (GM 52755, 1993). The Company has not verified this resource, and does not consider it to be a mineral resource as defined by NI 43-101. It is only mentioned as an indication of the presence of significant gold mineralization, but should not be relied upon in its present form. Grab samples were taken early in the fall to provide a better understanding of the setting of the Mariposite showing. They returned multiple significant results of up to 6.6 g/t Au, as well as a value of 73.3 g/t Au associated with a strongly-silicified segment mineralized in fine pyrite.

The following table shows some of the drill intersections obtained from the showing over the years:

Hole Grade
g/t Au
Length
m
46-1 4.45 1.52
46-2 5.10 2.43
46-5 5.13 3.05
46-7 3.21 8.20
46-9 5.15 11.27
46-15 4.87 4.11
81-1 3.95 6.12
86-12 5.97 3.05
86-14 6.94 1.22
GL-3 5.44 1.89
GL-11 5.66 1.98
GL-12 3.20 4.06
GL-16 4.10 3.41

Most of the known showings are high-priority targets as they remain open along strike and at depth. It should also be noted that only a handful of holes were drilled to a depth of 300 metres. The potential of the projects below this level therefore remains virtually untested (except for the Lac Shortt mine fault).

The gold mineralization seen to date on most of the showings indicates that the volcanic, intrusive and sedimentary rocks within the Opawica-Guercheville deformation corridor have undergone extreme compression. Compression forces do not allow large mineralized zones to develop, as the mineralizing fluids are channelled along narrow, rectilinear factures and hardly affect the host rock. The NQ team will therefore be searching for tension structural traps that facilitate the development of quartz-carbonates-pyrite vein injections, as well as areas showing differences in rock competency and allowing for the development of open fractures rather than ductile shear zones (closed). Practically-speaking, gold traps can be found at such places as changes in fault direction, the intersection of faults with different directions, and the contact between two rocks of different hardness.

The La Roncière property is held by NQ Exploration in joint venture with SOQUEM Inc. Once NQ has earned its 50% interest in the property, the two partners will fund the exploration expenses equally.

The technical content of this press release has been approved 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 SOQUEM INC.

SOQUEM is a wholly-owned subsidiary of Société générale de financement du Québec ("SGF"). SGF, is the Québec government's main industrial and financial development corporation. Its mission is to undertake economic development projects in the industrial sector in cooperation with partners and in compliance with the economic development policies of the Government of Québec.

ABOUT NQ EXPLORATION INC.

NQ Exploration Inc. is a mining exploration company with a solid portfolio of 15 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, base metal and uranium 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