posted on
Apr 07, 2010 10:12AM
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Edit this title from the Fast Facts Section
Message: sqi
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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