Q-Gold Announces Surupana Silver Property Exploration Program
Q-Gold Announces Surupana Silver
Property Exploration Program
TORONTO, ONTARIO – September 23, 2020
Q-Gold Resources Ltd (TSXV: QGR) (“Q-Gold” or the “Company”) is pleased to announce
its 2020-2021 exploration program at its newly-acquired option at the Surupana property (the
“Surupana Property ”) in the silver -rich Altiplano region of southern Peru in the Puno
province near Lake Titi caca. The Surupana Property houses an estimated twelve historical
mine workings, which were focused on high-grade silver, copper and lead mineralisation.
The region of the Altiplano host several mines and exploration projects targeting porphyries
and epithermal vein deposits as well as skarn and carbon -replacement deposits. The
Surupana Property is approximately 50 km south of Minsur’s San Rafael Tin mine.
This exploration program will integrate historical data and previous sampling exercises to
focus on historical anomalies. These will be tested by soil sampling and positive results by
additional geophysics such as Induced Polarity surveys (“IP Surveys”). The resulting targets
will eventually be drill tested.
“The Surupana Property provides Q-Gold investors with exposure to a second precious metal
and jurisdiction. With historical vein mining and soil sampling indicating the existence of high-
grade silver veins, this property presents an attractive silver option to Q -Gold investors,”
comments Evan Veryard, Chief Executive Officer of Q-Gold. “This exploration program will
confirm the Surupana Property’s potential and generate meaningful results to guide future
exploration.”
About the Surupana Exploration Program
The objective of this exploration program is to extend the company’s understanding of the
Surupana Property, identify anomalies and confirm targets, and conduct an initial drill
campaign to confirm the mineralization and grades around the project’s main Surupana Bowl
Zone.
The mineralisation of the Altiplano region is historically described by epithermal veins , and
on the Surupana Property more specifically, intermediate sulphidation veins. Previous rock
sampling indicated a uniform soil geochemistry with moderate Silver and Copper values (0.9-
15 ppm Ag, 68-2,500 ppm Cu) dispersed across the entire 950m x 850m area suggesting the
potential for a silver and base metal bulk-tonnage exploration target.
The Surupana Property exploration program will be executed in three phases:
1. Soil Sampling Campaign
Previous reconnaissance rock sampling in the historical underground drifts revealed silver
values with highlights between 1,050 g/t to 3,400 g/t. These underground drifts are described
as consisting of 3 levels with a total of 300 m of drifts pursuing a vertically dipping vein
structure.
The above results were indicative of a silver and base metal bulk-tonnage exploration target
as noted above. The initial soil sampling campaign on surface will consequently concentrate
on the central area which form a caldera shape and contains the historical workings (Fig. 1).
Geological mapping will precede the soil sampling to avoid missing narrow veins with a large
sampling grid.
A US$ 250,000 geological mapping and sampling program with 25 m stations will be
implemented across this historical area to confirm these findings and locate the actual
mineralised veins. Further, there are extensive areas of untested rock alteration and surface
gossans that will be included in this sampling exercise.
Figure 1: Concession with central caldera shaped area and old workings
2. IP Geophysics
A IP geophysics survey will be conducted over the resulting soil geochemistry anomalies and
the caldera area to further refine the target zones. Based on the expected depth penetration,
a 50 m or 100 m line spacing will be selected , and with the goal of covering 4 square
kilometres. The initial estimated budget for this IP Survey is approximately US$ 100,000.
3. Inaugural Drill Campaign
Once the soil sampling and the IP survey have defined the targets, these will be followed up
with diamond drilling to better define the 3D continuity of the geological model with respect
to the subtleties of epithermal veins, which are commonly thickening and thinning along strike
and dip. We also aim at a first estimate of grade and potential tonnage.
About the Surupana Property
The Surupana Property consists of 3,306 hectares covering the historical Surupana Silver
Mining Camp, located in central Puno province of southern Peru. The project’s main Surupana
Bowl Zone reports an estimated twelve ancient mine workings, wher e sporadic small-scale
surface pitting & underground mining, carried out during the 1960’s to late 1970’s focused
on high-grade silver, copper and lead mineralization.
Of particular note is the small past producing Supay Huasi Silver mine, where three sho rt
horizontal adits exploited a metre -scale vertical structure where a chip sample with a value
of 3,400 g/t Ag over a width of 0.4 m was reported.
The Surupana Property is favorably located with paved and dirt road access; a national airport
100 km south at Juliaca (population: 270,000); and 830 km south east of Lima. It is proximal
to Bear Creek Mining’s Corani bulk tonnage Silver -Lead-Zinc development stage project (90
km northwest) and Minsur’s San Rafael high-grade Tin Mine (50 km northwest).
Qualified Persons
The scientific and technical information contained in this press release has been reviewed,
prepared and approved by Dr. Andreas Rompel, PhD, Pr. Sci. Nat. (400274/04), FSAIMM,
Vice President Exploration of Q -Gold, who is a "Qualified Person" as defined by National
Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About Q-Gold Resources Ltd.
Q-Gold is a publicly traded Canada-based mineral exploration company targeting high-grade
gold and silver discoveries in multiple jurisdictions. Q-Gold is currently exploring for gold at
the past-producing Foley Gold Mine in Mine Centre, Ontario and for silver at the Surupana
Property in the silver-rich altiplano region of Peru.
For further information, contact:
Evan Veryard
Chief Executive Officer
+1 416 571 9037
Website: www.qgoldresurces.com
Cautionary Notes
Certain statements in this release are forward-looking statements. Forward-looking
statements consist of statements that are not purely historical, including any statements
regarding the Company’s work plans, the Company’s exploration plans and budgets for the
Surupana Property and the Company’s beliefs, plans, expectations or intentions regarding
the future. Such statements are subject to risks and uncertainties that may cause actual
results, performance or developments to differ materially from those contained in the
statements. No assurance can be given that any of the events anticipated by the forward-
looking statements will occur or, if they do occur, what benefits the Company will obtain from
them. In particular, the company cautions that the completion of the proposed acquisitions
cannot be predicted with certainty, and that there can be no assurance at this time that the
proposed acquisitions will be completed in the manner noted above or at all. These forward-
looking statements reflect management's current views and are based on certain
expectations, estimates and assumptions which may prove to be incorrect. A number of risks
and uncertainties could cause our actual results to differ materially from those expressed or
implied by the forward-looking statements, as well as other factors beyond the Company's
control. The Company does not undertake to update any forward looking information, except
in accordance with applicable securities laws.
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THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
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