Q-Gold Resources Ltd, a publicly-traded Canada-based mineral exploration company, has reported that it has completed a LIDAR survey over its 100% owned Mine Center Property, starting the 2022 exploration program.
A wet, overcast spring meant that the Company had to postpone the LiDAR program for several weeks, which was eventually flown in on June 8th and 9th, 2022. Data processing is anticipated to take place in around 4 to 5 weeks.
The outcomes of the LiDAR survey integrated with an earlier conducted airborne magnetic geophysical survey from January 30th, 2021, and the forthcoming geochemical survey will allow Q-Gold to produce a targeted diamond drill program in the Foley Mine area of the Property.
We are excited to announce that Q Gold has re-embarked on active exploration in 2022, commencing with a LIDAR survey over its prospective Mine Center properties. The recent survey is only the beginning and will be followed-up with soil sampling on the lesser explored parts and diamond drilling, extending the knowledge gained during last year’s campaign.
Dr. Andreas Rompel, Chief Executive Officer, Q-Gold Resources Ltd.
About the Existing Mine Center Property
Q-Gold consists of around 10,000+ acres of adjoining mining claims, Crown leases, and leasehold patents that have been situated inside the historic Mine Centre 1890’s gold camp, which generated nearly 16,025 ounces of gold from the Golden Star Mine and the Foley Gold Mine.
The Foley Gold Mine was developed in the 1890s, with the falling of the Foley Shaft to the 400’ level. During this time, 10,500 tons of ore at 14 g/t was mined from stopes at the 100’ level consisting of 5,267 oz of gold recovered (1898–1900).
The following work between 1923–27 consisted of an evaluated $12 M of total development work, such as an offset Shaft 400’ to 850’, winze 400’ to 150’, and 2.5+ km of drifts on seven levels. Operations ended in 1927 as a result of the start of the Great Depression.
Earlier drilling performed by Q-Gold between 2005 to 2012 established the Foley Gold Mine as a huge deposit of gold-bearing veins. It has an outstanding picture of the mine’s gold potential from the surface to the 122 m level. Listed below are the highlights from those drill outcomes which follow high-grade gold intercepts:
- Foley–Hole Q-05-08–53.47 g/t Au–Over 1.5 m
- Foley–Hole Q-BV-12-06–33.38 g/t Au–Over 1.05 m
- Foley–Hole Q-BV-10-1–106.7 g/t Au–Over 0.23 m
The Property consists of favorable logistics with immediate access to Highway 11 and sitting 65 km Northeast of the US border and 250 km Northwest of Thunder Bay. Also, it is near two significant gold discoveries that are located 95 km on either side of the Mine Center: Hammond Reef (Agnico Eagle) (4.5 M oz.) & Rainy River (New Gold) (4.5 M oz. Au & 11.4 M oz. Ag).
The other interest areas on the Property consists of the McKenzie Gray Vein System; a gold-silver vein system consisting of 6,594 m of drilling verifying the presence of high-grade quartz vein down to 100 m. As well as the Golden Star, Manhattan, and Fergus Vein Systems; all high-potential gold vein prospects provide enormous optionality at the Mine Center.