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Message: sqi

Re: sqi - chris

in response to by
posted on Apr 07, 2010 10:12AM

here's the hra writeup from the journal today, started formatting, but got bored after a while, so the format changes after a while, still think its readable enough:

Silver Quest (SQI-V) has been getting market attention lately due to having a finger in two plays. In the Tintina play it will be following up on the work of two strong prospecting groups who were in the district before the UW discovery but are now focused on discoveries they made elsewhere. The SQI management has a history of doing well by advancing projects, which explains these arrangements. The Boulevard project is just south of KAM’s Coffee. This project and a regional database developed by Rimfire Minerals are being purchased by SQI; Rimfire is now part of Kiska Metals (KSK-V) after a reorganizing of two project generating juniors to focus spending on the Whistler project in Alaska. Boulevard has a 2 km long gold anomaly overlying older rocks. Several drill holes in 2008 didn't replicate the 6 metres of 7 g/ t that had been located intrenching. However, the information on structural trends since then suggests a drill program with a different orientation is needed. Regardless, there is a lot untested target in a very prospective setting. SQI also acquired a series of projects in the immediate White Gold area from Atac Minerals that had been staked based on old regional studies. These well positioned projects and the database will see further targeting work this year.

The most recent Yukon acquisition

is a 70% farm-in of the

Prospector Mountain project

from Tarsis Resources (TCCV).

The project is about 100

km southeast of Golden Saddle,

and 55 km southeast of

the Casino copper project to

which it is geologically related.

Intrusive rock here is

part of a separate and

younger period of magma

generation than the major

gold deposits of the district.

Recent work at Prospector

Mtn. generated a series of

high-grade gold-silver-base

metal results from vein material

in a talus slope. Several

of these returned 80 g/t gold.

This is one of the most intriguing

prospects in the district

that could open another

new chapter in its play book.

The other hot area in which

SQI has a focus is in central

British Columbia. In this case

SQI is a leading player, with

a retained 25% in a project

farmed out to Richfield Ventures

(RVC-V); Silver Quest is

farming out the Davidson

portion of RVC’s Blackwater

Gold project, which excited

the market with some long

intersections late last year.

SQI also has 100% in several

related projects that include

both historic resources and

grass roots ground. The new

concept is bulk tonnage goldsilver

+/- base mineralization

that is a transition between

several better established deposit

classes which form at or

near the sea floor.

This part of BC is outcrop

scarce. Regional programs

had picked up hints of the

potential in the past, but

scale potential had been

wanting until recently. Further

detail can wait, but suffice

it to say there is considerable

promise on the table

and the benefit to newness

for the market to chew on.

British Columbia will be as

important to SQI as the

Yukon this summer, and we

will speak to that as results

come in. It is however very

well positioned for the new

model building in the Yukon

and should benefit from that

position as well.

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