Northquest Ltd. Announces Drilling Results From The Pistol Bay Gold Project, Nunavut, Canada
Press Release –
PB-14-08 INTERSECTS 221.74 METRES GRADING 1.65 GRAMS GOLD PER TONNE AT THE VICKERS TARGET
***FOR IMMEDIATE RELEASE
** September 15, 2014
TORONTO, CANADA – Northquest Ltd. (TSX.V-NQ) (FWB-N3Q) (“Northquest” or “the Company”) is pleased to announce the first batch of 2014 drilling results from the Pistol Bay Gold Project, Nunavut, Canada. The project consists of 861 square kilometres of mineral rights covering a 90 kilometre strike length of a gold bearing trend known as the Pistol Bay Trend, which contains a west-trending series of gold occurrences and gold zones intersected in holes drilled by Northquest in 2011, 2012, and 2013. Over the past 4 years, since field operations commenced in April 2011, the Company has completed three airborne geophysical surveys and 13,660 metres of diamond drilling in 66 drill holes, of which 9,400 metres of drilling and 37 drill holes were completed at the Vickers Target. The results reported herein are from the Vickers Target. The Company has completed 4,550 metres of drilling so far this year in 18 drill holes and additional drilling is planned for this year. This press release describes the results of the first four drill holes for which assays have been received and verified. The Company will publish all of the data about the drilling in the form of complete drill logs and assay files, drilling plan maps, and cross sections on the Company web site www.northquest.biz. This year’s strategy and objectives are to complete drilling on Sections 8800 W, 8750 W, 8700 W, 8650 W, and 8600 W in order to explore the potential extension of the gold zone that has been intersected over a 200 metre strike length from 8800 W to 9000 W in holes drilled by Northquest in 2012 and 2013.
Vickers Target
The Vickers Target is an elliptical gabbro-diorite intrusive complex with a long axis of 1 kilometre. The gabbro-diorite intrusion is within silicified felsic schist and mylonite of a linear zone referred to as the Pistol Bay Corridor. Gold in surface outcrops occurs in a silicic, chloritic, breccia body exposed in the margin and footwall of the intrusion. The contact between the mineralized intrusion and the mineralized footwall sequence has a strike azimuth of approximately 110 degrees and dips south at approximately 60 to 70 degrees. The Company has received and verified the complete assay results from PB-14-06 to PB-14-09 and the results of the drill holes are set out below in Table 1.
