August 13, 2009 08:30 ET
- Diamond drilling has commenced on the Strange Lake project with two drill rigs
- A minimum of 70 drillholes for 5,000 m are planned for the program
- One of the rigs will be dedicated to resource definition on Quest's Strange Lake REE deposit with the objective of completing a 43-101 Resource Estimate for the deposit during 2010
- The second machine will undertake exploratory drilling on new REE targets identified by field crews earlier in 2008 and 2009
- A bulk sample of Strange Lake material will be collect in order to undertake mineralogical and metallurgical studies on the recovery characteristics of the rare earth mineralization
TORONTO, ONTARIO--(Marketwire - Aug. 13, 2009) - Quest Uranium Corporation (TSX VENTURE:QUC) is pleased to announce that it has commenced diamond drilling at the Strange Lake project, Quebec. Currently, two drill rigs are operating on the project with the objective of completing 70 holes for a total of 5,000 m. One of the drills will be used to confirm and expand the Quebec-side of the historical Iron Ore Company of Canada (IOC) resource estimate for the Strange Lake zirconium (Zr)-yttrium (Y)-niobium (Nr0 rare earth (REE) deposit. A second machine is focusing on evaluating additional REE occurrences discovered by Quest crews in 2008 and 2009. With $2.1 million in working capital, the Corporation is well-financed to execute the drill program. The Strange Lake project (see Figure 1) is located 175 km north-east of Schefferville, Quebec and 125 km west of the Voiseys Bay nickel-copper-cobalt deposit, currently being mined by Vale in eastern Labrador.
Strange Lake Deposit Definition Drill Program
A digital data compilation recently completed for the Corporation by Geologica Groupe-Conseil Inc. of Val d'Or, Quebec, was used to optimize the drilling over the Quebec-side of the Strange Lake deposit (historical resource estimate, pre-National Instrument 43-101; Venkatswaran, 1983 - 52 million tonnes @ 3.25% ZrO2, 0.56% Nb2O5, 0.66% Y2O3, 0.12% BeO and 1.30% TREO). The compilation enabled Quest to develop a 3-dimensional geological model of the REE deposit. This model will guide the drilling program to confirm the historical IOC resource and to identify new areas for resource expansion of the deposit. A minimum of 40 holes for 2,500 m will be required for this program. In addition, a bulk sample will be collected of Strange Lake material in order to complete bench test studies on product recoveries and material processing procedures for the rare earth mineralization.
Strange Lake Property Exploratory Drill Program
In addition to the definition drilling, a program of exploratory drilling over newly discovered mineralized zones on the Strange Lake property is currently underway. At least three new areas of Strange Lake-type REE mineralization have been identified by exploration crews which require drill testing. A minimum of 30 drillholes for 2,500 m are planned for this portion of the program.
The 1983 historical mineral resource estimate referred to in this press release was prepared before the introduction of National Instrument 43-101. No qualified person has undertaken sufficient work to classify this historical resource estimate as current mineral resources or mineral reserves. Accordingly, Quest is not treating the historical resource estimate as current mineral resources or mineral reserves, as defined in National Instrument 43-101, and the historical resource estimate referred to in this press release should not be relied upon.
Mr. Peter Cashin, P. Geo., is the qualified person on the Strange Lake Project under National Instrument 43-101 and was responsible for this news release. Material for analysis has been obtained from grab samples from outcrop and boulders. A strict QA/QC program is followed which includes the use of elemental standards, duplicates and blanks. Analyses were performed by Activation Laboratory Limited of Ancaster, Ontario.
About Quest Uranium
Quest Uranium Corporation is a Canadian-based, exploration company focused on the identification and discovery of new world-class Rare Earth deposit opportunities. The company is publically-listed on the TSX Venture Exchange as "QUC" and is led by a highly-respected management and technical team with a proven mine-finding track record. Quest is currently advancing several high-potential projects in Canada's premier exploration areas: the Strange Lake area of northeastern Quebec, the Kenora area of northwestern Ontario and the Plaster Rock area of northwestern New Brunswick. Quest continues to pursue high-value project opportunities throughout North America.
This press release may contain "forward-looking statements". Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward looking statements".
To view Figure 1 of the Strange Lake Project Location Map, please visit the following link: http://media3.marketwire.com/docs/quc0813.pdf
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
Quest Uranium CorporationPeter J. CashinPresident and CEO(416) 916-0777 or 1-887-916-0777(416) 916-0779 (FAX)firstname.lastname@example.org
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