SRQ Resources Launches Phase 2 Drilling Program on Newly Discovered
SRQ Resources Inc./
Ressources SRQ Inc.
Suite 132, 1320 Graham
Ville Mont-Royal, Québec
Canada, H3P 3C8
SRQ Resources Launches Phase 2 Drilling Program on Newly Discovered
Ultramafic Magmatic Intrusive Complex at Lac Brulé
Montreal, Quebec – October 10, 2023, SRQ Resources Inc. (“SRQ” or the “Company”) (TSX-
V: SRQ) is pleased to announce that the Phase 2 drilling program on its exciting new discovery,
the Lac Brulé Ultramafic Magmatic Intrusive Complex (“UM Intrusive”), is scheduled to start on
or about October 23, 2023. The UM Intrusive hosts significant nickel and copper mineralisation.
Following the success of the July 2023 Phase 1 drilling program, SRQ is eager to further assess
the potential of the UM In trusive complex and advanc e the Company’s understanding of its
mineralisation. Drilling under the fully funded Phase 2 program will focus on the Gossan Zone.
Key highlights of the Phase 2 program include:
• Follow-up Drilling: Phase 2 will involve drilling 5 holes for approximately 1,200 meters
(“m”) on the Gossan Zone . These holes are designed to follow up on the strong
conductors outlined by August 2023 Downhole Electromagnetic Surveys (“DHEM”)
(Figure 1).
• Geological and Geo chemical Studies: Detailed geological and geochemical studies
will be carried out on the 51 samples collected from the Phase 1 drilling program to
enhance our understanding of the host and the mineralisation's characteristics and
distribution.
• Environmental Considerations: SRQ is committed to continuing its drilling activities in
an environmentally responsible manner, including adhering to all relevant environmental
regulations and best practices.
Dr. Marc-Antoine Audet, Ph.D., P.Geo., CEO and President of SRQ, said, “Our concurrent use
of drilling and downhole electromagnetic surveys has delivered promising results with the
identification of strong electromagnetic conductors that are coincident with a regional large
gravity high. These new targets will be drill tested during our Phase 2 drill program on the Gossan
Zone, marking an important step in our journey to unlock the potential of th is newly discovered
Ultramafic Magmatic Intrusive Complex.”
Figure 1: Phase 2 Drill Program is Targeting Conductors Defined by August 2023 DHEM
Surveys of the Gossan Zone
Lac Brulé Newly Discovered Ni-Cu Mineralisation
The Ni -Cu mineralisation encountered is characterized by cumulate and aggregates of iron,
copper and nickel sulfides: pyrrhotite, chalcopyrite and pentlandite , respectively. Pyrrhotite is
the dominant sulfide with visible chalcopyrite. Pentlandite can be seen mixed with pyrrhotite. The
textures of the sulfide mineralisation vary from disseminated to semi-massive to massive (> 80%
of sulfide material) showing net-texture or brecciated sulfides between pyroxene and
amphiboles. Thin massive sulfides horizons are intercalated and sometimes associated with
garnet-rich xenoliths.
Figure 2 presents a microscope photo of mineralisation from a surface sample collected at the
mineralised surface outcrop ( gossan) in 2022, confirming presence of the three main sulfide
species (LB-40375 C. Picard – June 2022, pyrrhotite (Po), chalcopyrite (Cp), pentlandite (Pn),
ilmenite (Il), magnetite (Mt). Silicates are clinopyroxene, orthopyroxene, hornblende and olivine).
Figure 2: Microscope Photo of Mineralisation from Surface Sample Collected at the
Mineralised Outcrop (Gossan) in 2022
Untapped Geological Potential of SRQ’s Lac Brulé Property
SRQ’s new discovery was made on its 100%-owned Lac Brulé property located 50km north-
west of the former Renzy Ni -Cu mine on the unceded lands of t he Kitigan Zibi Anishinabeg
community. The former Renzy mine operated from 1969 to 1972 (Figure 3). UM intrusive bodies
host mineralisation at both the Renzy mine and at Lac Brulé. Both sites present several striking
similarities, including mineralogy, petrology and timing of emplacement.
Figure 3: SRQ’s Properties in Canadian Province of Quebec
The technical information in this release has been reviewed and approved by Dr. Marc -Antoine
Audet, Ph. D geology, P. Geo and President and CEO of SRQ Resources, and a ‘ Qualified
Person’, as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About SRQ Resources Inc.
SRQ is a Canadian base metals company exploring for nickel, copper and platinum in the
province of Québec.
A near-surface Ni-Cu project, Lac Brulé is located on a 288km² virgin exploration property at a
five-hour drive from Montréal. The project’s prospectivity for base metals has been confirmed by
geological mapping, the presence of a surface gossan, and geophysical surveys. The presence
of the historic Renzy Ni-Cu mine located 50 kilometers to the south-east and at the heart of the
large regional pattern further adds to the area’s mineral exploration appeal.
For more information about SRQ, please visit SRQ’s website at www.srqexploration.com
Contact Information:
Marc-Antoine Audet, President and CEO
Tel: (514) 726-4158
Forward-Looking Statements and Forward-Looking Information:
Certain of the statements made and information contained herein are “forward -looking
statements” or “forward -looking information” within the meaning of Canadian securities
legislation. Forward-looking statements and forward-looking information characterized by terms
such as “will”, could”, “expect”, “estimate”, “evidence”, “potential”, “appears”, “seems”, “suggest”,
are inherently subject to significant business, economic, and competitive uncertainties and
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reliance should not be placed on such statements and information. Such factors include, but are
not limited to: the speculative nature of mineral exploration and development; assumptions
relating to the trading price of the Company’s common shares; the ability of the Company to
convert resources in reserves, its ability to see through the next phase of development on any
project, its ability to produce a pre-feasibility study or a feasibility study regarding any project, its
ability to execute on its development plans in terms of metallurgy or exploration, the availability
of financing for activities, risks and uncertainties relating to the interpretation of drill results and
the estimation of mineral resources and reserves, the geology, grade and continuity of mineral
deposits, the possibility that future exploration, development or mining results will not be
consistent with the Company’s expectations, metal price fluctuations, environmental and
regulatory requirements, availability of permits, escalating costs of remediation and mitigation,
risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other
unanticipated difficulties with or interruptions in exploration or deve lopment, the potential for
delays in exploration or development activities, the inherent uncertainty of cost estimates and
the potential for unexpected costs and expenses, commodity price fluctuations, currency
fluctuations, expectations and beliefs of man agement and other risks and uncertainties. Many
of these uncertainties and contingencies can affect the Company’s actual results and could
cause actual results to differ materially from those expressed or implied in any forward -looking
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