Quia Resources Inc.
TSX VENTURE : QIA

Quia Resources Inc.

January 06, 2011 08:30 ET

Quia Announces First Results of Surface Sampling and Mapping Programs

TORONTO, ONTARIO--(Marketwire - Jan. 6, 2011) - Quia Resources Inc. (TSX VENTURE:QIA) (the Company) announced today results of its ongoing surface exploration program at its 100% owned San Lucas properties in the San Lucas mountain range situated in the province of Bolívar in the northern part of Colombia.

The Company's holdings in the area total 6,889 hectares and straddle or lie slightly to the east of the Palestina fault system, a major structure bounding the Norosí batholith (granitic intrusives of Jurassic age). About 19 square km, or approximately 27% of the total property area, have been covered by sampling and mapping activities. To date, two target areas have been the focus of the ground work:

• A 4 km by 4.5 km area on the Chicago grid, north of Marisosa; and,

• A 4 km by 1.5 km area on the Intermedia grid, south of Marisosa.

Each grid has been subdivided into 1 km by 1 km quadrants named by the phonetic alphabet. The area is forested but soil development in the area is very shallow, allowing not only samples to be taken at the base of soils often at a depth of approximately 1 metre, but also for rock types to be recognized and mapped in sample holes. Soil samples have been taken on a grid system at 50 m spacing on lines 100 m apart. Outcrop exposure is 1% or less and rock samples have been taken where outcrops exist.

The attached maps http://www.quiaresources.com/maps.html show gold in soil anomalies. For reference, results of airborne geophysics flown in 2008 are also attached. The gold in soils anomalies (areas with greater than 50 ppb Au in soil) appear to coincide with observed extensional structural features, magnetic highs in the airborne geophysics and known areas of artisanal mining. Examples of anomalies identified thus far include:

• A 1500 m long, 20° trending anomaly in the Kilo and Mike quadrants that overlies granodioritic subvolcanic rocks and a magnetic high previously identified as the "Chicago trend". Au in soil within this anomaly reaches 1698 ppb.

• An 850 m long, 20° trending anomaly in Juliett quadrant that overlies the contact between gneissic rocks and quartz diorite porphyritic rocks and a magnetic high previously identified as the "Rico Trend". Au in soil within this anomaly reaches 922 ppb.

Quia CEO Chris Davie said "We are pleased that the first results of our extensive surface sampling program, which is the first systematic exploration of this emerging gold district in Colombia, indicates anomalous gold values in soil. We will continue our surface program across our large land package in order to determine the most favourable drill targets and are planning to commence a drill program as soon as possible"

The area of recent activity is characterized by NE trending extensional fractures hosting numerous artisanal mining operations based on veins of variable width and grade. Sampling results in a number of these veins are provided in the technical report on the San Lucas properties filed under the Company's name at www.sedar.com. All work has been helicopter supported and staged from the community of Marisosa, which lies between two major blocks of Quia concessions.

Sample results for the areas north of both anomalies have not been received and the anomalies remain open in this direction. Thus far, 20% of all soil samples have returned an Au grade of 50 ppb or greater, with a maximum grade of 5351 ppb Au.

The Company's program going forward is to continue surface sampling combined with hand dug trenches while commencing a diamond drill program. Preparations for a drill program include discussions with the Colombian government outlining whether additional permitting steps may be required in addition to the Company's existing valid environmental permits because of new legislation currently being considered by the Colombian government. The Company is also investigating the logistics of providing road access to the area (which at the moment is limited to trails used by track mounted machinery) and is also working with other concession owners in the district to consolidate its land position.

Samples were submitted to ACME Analytical Laboratories Ltd. Once in the custody of ACME, sample preparation was completed at their Medellín, Colombia facility and analysis was completed at their Vancouver laboratory. Multi-element analysis including gold was completed by ICP. A sequence of reference materials and blank samples were inserted into the sample stream and all data reported in this release meets Quia Resources' QA/QC standards.

Iain Kelso, P. Geo., is the Qualified Person for the information contained in this press release and is a Qualified Person within the terms defined by National Instrument 43-101.

Quia Resources is an emerging gold explorer in Colombia that is exploring the San Lucas mountains, a remote region in northern Colombia that has a long history of artisanal gold production but has never before been systematically explored.

Forward-Looking Statements

This press release contains or refers to forward-looking information, including statements regarding exploration results, potential mineralization, exploration plans and timing of the commencement of drilling, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.

Contact Information

  • Quia Resources Inc.
    Chris Davie
    Chief Executive Officer
    (303) 888-5424
    cdavie@fastmail.fm
    or
    Quia Resources Inc.
    Andreas Curkovic
    Investor Relations
    (416) 577-9927