Quia Resources Inc.

Quia Resources Inc.

April 21, 2011 11:02 ET

Quia Resources Contracts Two Drill Rigs at San Lucas, Plans Initial Drill Campaign for Early May

TORONTO, ONTARIO--(Marketwire - April 21, 2011) -Quia Resources Inc. (TSX VENTURE:QIA) is pleased to announce that it has signed a contract with Mincivil S.A. for two drill rigs to complete 5,000 metres of diamond drilling at Quia's San Lucas property, Colombia.

This initial drill program will test three high-priority targets that have been outlined through geophysics, soil sampling and mapping:

  • Target 1: a 1,000 metre long by 500 metre wide anomaly overlying the contact between gneissic rocks and a quartz diorite porphyry unit

  • Target 2: a 3,000 metre long anomaly coincident with a trend of artisanal mine sites where a number of high grade samples have been obtained

  • Target 3: a 1,200 metre long by 750 metre wide lower grade anomaly overlying a highly silicified sub-volcanic unit with an epithermal signature

The program is expected to commence in early May.

Yannis Banks, Quia's CEO, said: "We have done extensive surface exploration in order to delineate several high priority targets. Our work has demonstrated potential for both disseminated systems of gold mineralization as well as high-grade gold mineralization. This first drill program is our most significant development thus far in advancing our San Lucas property."
The Company is also continuing its regional soil sampling program in other areas of the property.

About Quia Resources Inc.

Quia Resources is an emerging gold explorer that is exploring 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.

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.

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.

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

  • Quia Resources Inc.
    Yannis Banks
    Chief Executive Officer
    (416) 777-6169

    Quia Resources Inc.
    Andreas Curkovic
    Investor Relations
    (416) 577-9927