Q-Gold Commences Soil Geochemical Program Over the Foley Mine Area
Q-Gold Commences Soil Geochemical Program Over the Foley Mine Area
TORONTO, July 13, 2022 -- Q-Gold Resources Ltd (TSXV: QGR) (OTC: QGLDF) (FRA: QX9G) (“Q-Gold” or the “Company”)
is pleased to announce that it has commenced a MMI TM soil geochemical survey over the Foley Mine area on its wholly owned
Mine Centre Property (“Property”) as part of the 2022 exploration program.
The MMITM soil survey is designed over 20 line-km with samples being collected at nominal 50m spacings over the Foley Mine
and environs. MMI TM was chosen over the conventional method of soil sampling due to the lack of suitable B-horizon soil
development over the Property.
Of note, MMI TM was instrumental in the targeting of the exploration drilling which led to the discovery of the Intrepid Zone at
Rainy River, owned by New Gold Inc.
Once the sample program has been completed, the samples will be shipped to SGS Mineral Services in Burnaby, British
Columbia for analyses.
“The MMITM soil geochemical survey represents yet another step along the way to generate more targets for the pending
drilling campaign,” commented Dr. Andreas Rompel, Chief Executive Officer of Q-Gold. “The previously intersected gold-
bearing quartz veins have not been tested for their full strike extent away from the vicinity of the old mines and shafts. This will
enable us to better define the exploration programme for the next years.”
About the Existing Mine Centre Property
Q-Gold holds 10,000+ acres of contiguous mining claims, Crown leases and leasehold patents located within the historic Mine
Centre 1890’s gold camp, which produced 16,025 ounces of gold from the Foley Gold Mine and the Golden Star Mine.
The Foley Gold Mine was first developed in the 1890’s, with the sinking of the Foley Shaft to the 400’ level. At this time 10,500
tons of ore at 14 g/t was mined from stopes at the 100’ level with 5,267 oz of gold recovered 1898 – 1900. Subsequent work
between 1923-27 included an estimated $12 M of total development work, including an offset Shaft 400’ - 850’, winze 400’ to
150’ and 2.5+ km of drifts on 7 levels. Operations terminated in 1927 due to the onset of the Great Depression.
Previous drilling conducted by Q-Gold between 2005-2012 established the Foley Gold Mine as a large deposit of gold-bearing
veins with an excellent picture of the mine’s gold potential from surface to the 122 m level. Highlights from those drill results
include the following high-grade gold intercepts:
Qualified Persons
The scientific and technical information contained in this press release has been reviewed, prepared and approved by Richard
Kilpatrick, P. Geo., Exploration Manager, Q-Gold, who is a "Qualified Person" as defined by NI 43-101.
About Q-Gold Resources Ltd.
Q-Gold Resources (TSXV: QGR, OTC: QGLDF, FRA: QX9G) 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:
Dr. Andreas Rompel
Chief Executive Officer
Website: www.qgoldresources.com
Cautionary Note
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 MMI TM soil geochemical survey, the Company’s work plan,
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.
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.