Quia Resources Inc.
TSX VENTURE : QIA

Quia Resources Inc.

February 17, 2011 10:11 ET

Quia Resources Announces Updated Surface Sampling and Mapping Results

TORONTO, ONTARIO--(Marketwire - Feb. 17, 2011) - Quia Resources Inc. (TSX VENTURE:QIA) (the Company) has been engaged since August 2010 in surface sampling and mapping 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. As reported in a January 6th, 2011 press release, some 19 sq km of systematic surface sampling and mapping were completed and full results are attached at the follow link.

http://quiaresources.com/map170211.html

The attached maps show gold soil anomalies (areas with greater than 25 ppb Au in soil) which appear to coincide with observed extensional structural and intrusive features, magnetic highs in the airborne geophysics and known areas of artisanal mining. Examples of newly recognized anomalies and anomalies which have been extended in size include:

• A 600 metre long, 55° trending anomaly in the Golf and Hotel quadrants that overlies quartz diorite porphyritic rocks. Au in soil within this anomaly reaches 0.6 g Au/t.

• A 1200 metre long and, at its greatest width, 750 m wide, lower-grade anomaly in the November quadrant. This anomaly is associated with disseminated pyrite and pyrrhotite (with some chalcopyrite) that overlies a highly silicified, subvolcanic unit. Alteration and anomalous metal signatures (e.g. Sb) over this rock unit may suggest an epithermal genesis. Au in soil within this anomaly reaches 0.6 g Au/t.

• A 3000 metre long, 20° trending anomaly in the Kilo, Mike and Hotel quadrants that overlies a granodioritic subvolcanic unit and a magnetic high previously identified as the "Chicago trend". Au in soil within this anomaly reaches 1.7 g Au/t.

• A 1900 metre long, 20° trending anomaly in the Juliett and Golf quadrants 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 0.9 g Au/t.

The area of the Chicago grid is characterized by a series of intrusive rocks: gneissic, quartz-diorite porphyritic, massive quartz-dioritic, and late, subvolcanic granodioritic rocks. Northeast trending structures which control the majority of vein occurrences appear to post-date intrusive emplacement. The highest-grade soil sample (5.35 g Au/t) collected thus far overlies one such structure in the Juliet quadrant. Late, northwest trending faults offset some units and veins but do not appear to control mineralization.

Chris Davie, Quia CEO, said, "As we continue our surface program we are gaining further insight into the geology of the San Lucas belt and find that our sampling results reflect that improving understanding of the geology. This will aid us considerably in choosing drill targets for our initial drill program, expected to commence in March."

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 west side of the Norosí batholith (granitic intrusives of Jurassic age). 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 Company's technical report filed on Sedar. All work has been helicopter supported and staged from the community of Marisosa, which lies between two major blocks of Quia concessions.

The area is forested with generally shallow soil development, 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 in areas of limited outcrop. Soil samples were originally taken on a grid system at 50 m spacing on lines 100 m apart. Over anomalous areas the sample spacing has been reduced to 25 meters. Outcrop exposure is 1% or less and rock samples have been taken where outcrops exist.

During January and February, 2011, a further 3 sq km on the Intermedia grid (south of Marisosa) were completed, and a trenching program was begun to evaluate Au in soil anomalies on the Chicago grid.

The Company's program going forward is to continue surface sampling combined with hand dug trenches while commencing a diamond drill program. The Company expects to begin drilling in March.

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.

About Quia Resources Inc.

Quia is focused on exploring for gold in the San Lucas Orogenic Gold belt of Colombia, in particular its flagship San Lucas property. Quia's strategy is to focus on Colombia and the San Lucas region since it believes the country and region are geologically prospective and vastly underexplored. Combined with a rapidly improving socio-political environment, Colombia represents a unique opportunity in the global mining landscape for the discovery of new gold deposits. Quia's management has extensive experience in the mining industry in Colombia and South America.

Forward-Looking Statements

Except for statements of historical fact relating to Quia, certain information contained herein constitutes "forward-looking statements". Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "considers", "intends", "targets", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Quia's public filings, which may be accessed at www.sedar.com. Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results otherwise.

Contact Information

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