Friday 22nd February 2019

Resource Clips

Posts tagged ‘Silver Quest Resources Ltd (SQI)’

New Gold consolidates and expands with takeovers of Silver Quest, Geo Minerals

October 17th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningNew Gold Inc TSX:NGD plans friendly takeovers of Silver Quest Resources Ltd TSXV:SQI and Geo Minerals Ltd TSXV:GM. The acquisitions will give New Gold a 100% interest in the Blackwater Gold-Silver Project in central BC and an adjacent 42,470 hectares of property, as well as other properties.

For each Silver Quest share, shareholders will receive 0.09 of a New Gold share and one share in a new spinout company, McIntyre Minerals Inc. For each Geo Minerals share, shareholders will receive $0.16 and one-fifteenth of a share in a new, unnamed spinout company.

The Silver Quest acquisition raises New Gold’s interest in Blackwater’s northern claims from 75% to 100%, giving New Gold a 100% interest in the entire project. The acquisition also gives New Gold the 41,000-hectare Capoose Property, 25 kilometres from Blackwater. The Geo Minerals acquisition gives New Gold an additional 1,470 hectares adjacent to Blackwater.

New Gold’s share of the Blackwater resource currently comes to 4.8 million ounces gold and 25.5 million ounces silver measured and indicated, and 1 million ounces gold and 5 million ounces silver inferred. The Silver Quest share currently comes to 555,000 ounces gold and 2.56 million ounces silver indicated and 206,000 ounces gold and 2.62 million ounces silver inferred.

Silver Quest’s Capoose Project has an indicated resource of 383,823 ounces gold, 26.59 million ounces silver and 137.47 million pounds zinc and an inferred resource of 443,206 ounces gold, 29.52 million ounces silver and 219.21 million pounds zinc.

Geo Minerals’ 2011 exploration program for its West Blackwater Property includes geological mapping, prospecting, IP and soil sampling, with a 5,000-metre drill campaign to follow.

by Greg Klein

Richfield, Silver Quest report BC Gold assays including 3.29 g/t over 82m

April 19th, 2011

Richfield Ventures Corp TSXV:RVC in joint venture with Silver Quest Resources Ltd TSXV:SQI announced drill results from the Davidson Gold Project in BC. Highlights include 3.29 g/t gold over 82 metres (including 14.5 g/t over 15 metres), 1.02 g/t over 163 metres, 1.2 g/t over 19 metres, 4.13 g/t over 17 metres (including 8.99 g/t over 8 metres) and 1.4 g/t over 73 metres. Richfield is the project operator and has a 75% interest in the property, Silver Quest has a 25% interest.

Richfield President Peter Bernier said, “We are excited about the results of the two step-out holes west of BW 59. Results from the three northern holes show that the Gold Zone is a significant part of the overall deposit.”

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Peter Bernier

by Ted Niles