Highlights of Drilling
Two drill holes spaced over 510 m apart along the west side of the Inel Gold prospect (Figure 1) intersected significant gold mineralization from surface, expanding and infilling the footprint of shallow mineralization at Inel's western margin. In addition to an intersection beginning at surface (Table 1), drill hole INDDH21-157 had a second significant intersection at depth and bottomed in 1.06 grams per tonne ("g/t") gold ("Au") over 1.62 m within 15.30 m of 0.84 g/t Au in strongly sericite altered rock, leaving mineralization open to depth (Figure 3).
Table 1: Highlights of Results From The First Two of Thirteen Holes Drilled at Inel in 2021
Drill Hole | From | To | Length | Au | Ag | Zn | Cu | Au Eq* |
m | m | m | (g/t) | (g/t) | (%) | (%) | (g/t) | |
INDDH21-157 | 3.00 | 27.00 | 24.00 | 0.76 | 3.7 | 0.346 | 0.017 | 1.05 |
including | 23.00 | 25.00 | 2.00 | 3.94 | 12.6 | 0.248 | 0.009 | 4.27 |
and | 235.00 | 250.30 | 15.30 | 0.84 | 2.4 | 0.007 | 0.019 | 0.91 |
including | 248.68 | 250.30 | 1.62 | 1.06 | 1.5 | 0.006 | 0.004 | 1.09 |
INDDH21-158 | 7.00 | 15.00 | 8.00 | 0.71 | 2.0 | 0.021 | 0.038 | 0.81 |
Highlights of Prospecting:
- Prospecting samples** from areas south and west of Inel demonstrate widespread mineralization with high-grade precious and base metal occurrences (See Figure 2 for sample locations, Table 2 for highlights, and Table 4 for full list of samples, locations, maximum, minimum, mean and median values).
- Four of five samples** from an undrilled portion of Zinc Knob 600 m southwest of Inel demonstrate significant Au, Ag and Cu mineralization including sample 3692370 with 23.1 g/t Au, 185.3 g/t silver ("Ag") and 0.48% copper ("Cu") and sample 3694916 with 7.5 g/t Au and 4.5% Cu
- Samples** collected within the Inel area yielded results up to 8.8 g/t Au, 67 g/t Ag and 11.2% zinc ("Zn")
- Samples** from the
Camp Porphyry target located approximately 300 m west of Inel contain up to 1.0 g/t Au and 0.46% Cu.
Table 2: Highlights of Results** From Prospecting Near Inel, KSP Property, in 2021
Sample ID | Area | Au | Ag | Cu | Zn | AuEq* |
3692370 | Zinc Knob | 23.10 | 185.3 | 0.48 | 0.01 | 26.4 |
3694916 | Zinc Knob | 7.57 | 63.0 | 4.51 | 0.01 | 15.9 |
3694917 | Zinc Knob | 5.64 | 83.7 | 0.41 | 0.20 | 7.6 |
3694918 | Zinc Knob | 0.43 | 11.4 | 0.32 | 2.56 | 2.7 |
3694908 | Inel | 8.83 | 67.4 | 0.27 | 11.26 | 17.0 |
3694932 | Inel | 5.12 | 16.2 | 0.09 | 0.84 | 6.0 |
4104531 | Inel | 0.31 | 152.0 | 0.03 | 17.73 | 13.2 |
3692369 | 1.02 | 6.9 | 0.46 | 0.01 | 1.9 |
2021 Inel Drill Program
Drill holes INDDH21-157 and INDDH21-158 were located on northwestern and southwestern sides of the Contemplated Inel Resource Area ("CIRA"), respectively, approximately 510 m apart. INDDH21-157 was an infill hole in an area with reduced historical drill density and INDDH21-158 was a stepout hole designed to expand the footprint of known mineralization near the southwestern margin of the CIRA (Figure 1). Both holes intersected rock with significant gold grades from surface (Figure 1, Table 1).
Drill hole INDDH21-157 (Figures 1, 2) was designed to test for mineralization along the northwestern portion of the CIRA where there was a gap in the typically 50 m drill spacing. From surface, hole 157 intersected 24.00 m of 0.76 g/t Au (1.05 g/t gold equivalent ("AuEq*") with significant Ag and Zn mineralization), including 2.00 m of 3.94 g/t Au (4.27 g/t AuEq*). At the bottom of hole INDDH21-157 there was a second significant gold intersection (235.00 – 250.30 m) with 15.30 m of 0.84 g/t Au; the hole ended in intense sericite-pyrite alteration running 1.62 g/t Au over 1.02 m.
Drill hole INDDH21-158 tested the southwestern extent of the CIRA 50 m west and 105 m south of the nearest historical drill holes. From 7.00 m depth it intersected 8.00 m of 0.71 g/t Au (0.81 g/t AuEq*). INDDH21-158 also intersected highly anomalous Cu and molybdenum ("Mo") mineralization from 19.00 m to the bottom of the hole at 104.80 m (85.50 m of 0.071% Cu and 142 parts per million ("ppm") Mo, including 18 m of 0.115% Cu and 108 ppm Mo from 56.00 m). The anomalous zone is characterized by strongly quartz-sericite-pyrite altered siltstone and quartz-feldspar porphyritic monzonite dykes. Quartz-chalcopyrite-molybdenite stockwork veining occurs with pyrite stringers throughout the interval, increasing in density within porphyry dykes. The style of mineralization identified in this interval is not typical of Inel but has been identified in some of the other westernmost holes at Inel (e.g. INDDH17-070 with 84.90 m of 0.19% Cu 0.2 g/t Au with up to 137 ppm Mo; 72.00 - 156.90 m). The western margin of Inel may represent part of a porphyry Cu-Au-Mo mineral system. The porphyry-style mineralization has also been intersected from surface along the east side of the
Table 3 Full Table of Results from Drill Holes INDDH21-157 and INDDH21-158, Inel, KSP Property
Drill Hole | From | To | Length | Au | Ag | Zn | Cu | Au Eq* | Mo |
m | m | m | (g/t) | (g/t) | (%) | (%) | (g/t) | (ppm) | |
INDDH21-157 | 3.00 | 27.00 | 24.00 | 0.76 | 3.7 | 0.346 | 0.017 | 1.05 | 2 |
including | 23.00 | 25.00 | 2.00 | 3.94 | 12.6 | 0.248 | 0.009 | 4.27 | 1 |
and | 202.00 | 211.65 | 9.65 | 0.56 | 3.5 | 0.010 | 0.005 | 0.62 | 2 |
and | 222.00 | 250.30 | 28.30 | 0.67 | 2.3 | 0.008 | 0.022 | 0.75 | 19 |
including | 235.00 | 250.30 | 15.30 | 0.84 | 2.4 | 0.007 | 0.019 | 0.91 | 6 |
including | 248.68 | 250.30 | 1.62 | 1.06 | 1.5 | 0.006 | 0.004 | 1.09 | 3 |
INDDH21-158 | 7.00 | 15.00 | 8.00 | 0.71 | 2.0 | 0.021 | 0.038 | 0.81 | 2 |
Porphyry Cu-Mo-Au Related Intersections | |||||||||
INDDH21-158 | 19.00 | 104.80 | 85.80 | 0.08 | 1.6 | 0.020 | 0.071 | 0.23 | 142 |
including | 56.00 | 74.00 | 18.00 | 0.08 | 1.7 | 0.008 | 0.115 | 0.29 | 108 |
Table 4 Full Table of Results** from Surface Samples Collected at Inel and Vicinity During 2021 Prospecting
Sample | Easting | Northing | Type | Area | Au | Ag | Cu | Zn | AuEq* |
3692370 | 379579 | 6274783 | grab | Zinc Knob | 23.1 | 185.3 | 0.48 | 0.01 | 26.4 |
3694916 | 379579 | 6274778 | chip | Zinc Knob | 7.6 | 63.0 | 4.50 | 0.01 | 15.9 |
3694917 | 379548 | 6274763 | chip | Zinc Knob | 5.6 | 83.7 | 0.41 | 0.20 | 7.6 |
3694918 | 379458 | 6274844 | chip | Zinc Knob | 0.4 | 11.4 | 0.32 | 2.56 | 2.7 |
3692371 | 379653 | 6275092 | grab | Zinc Knob | 0.1 | 1.6 | 0.06 | 0.01 | 0.2 |
3694908 | 380048 | 6275556 | grab | Inel | 8.8 | 67.4 | 0.27 | 11.26 | 17.0 |
3694932 | 380323 | 6276117 | float | Inel | 5.1 | 16.2 | 0.09 | 0.84 | 6.0 |
3694914 | 380651 | 6275904 | chip | Inel | 0.4 | 3.9 | 0.03 | 0.61 | 0.9 |
4104531 | 380197 | 6274600 | float | Inel | 0.3 | 152.0 | 0.03 | 17.73 | 13.2 |
3694907 | 380514 | 6276129 | chip | Inel | 0.3 | 3.2 | 0.03 | 0.05 | 0.4 |
3694913 | 380202 | 6274629 | grab | Inel | 0.0 | 1.3 | 0.00 | 0.03 | 0.1 |
3692369 | 379243 | 6275843 | grab | Camp | 1.0 | 6.9 | 0.46 | 0.01 | 1.9 |
3692368 | 379425 | 6275949 | grab | Camp | 0.4 | 4.7 | 0.26 | 0.01 | 0.9 |
3692367 | 379525 | 6275985 | grab | Camp | 0.2 | 0.7 | 0.02 | 0.00 | 0.2 |
3694911 | 379635 | 6276013 | grab | Camp | 0.1 | 0.4 | 0.00 | 0.01 | 0.1 |
3694915 | 379611 | 6274798 | chip | Ice Cave | 0.1 | 3.0 | 0.05 | 0.01 | 0.2 |
Max | 23.1 | 185.3 | 4.50 | 17.73 | 26.4 | ||||
Min | 0.0 | 0.4 | 0.00 | 0.00 | 0.1 | ||||
Mean | 3.6 | 40.1 | 0.46 | 2.22 | 6.2 | ||||
Median | 0.4 | 6.9 | 0.09 | 0.03 | 1.9 |
Table 5 2021 Inel (KSP Property) Drill Hole Location and Orientation Information
Hole-ID | Easting | Northing | Elevation | Length (m) | Azimuth | Inclination | ||||
INDDH21-157 | 380164 | 6275946 | 1686.82 | 250.30 | 269.35 | -69.87 | ||||
INDDH21-158 | 379918 | 6275498 | 1491.81 | 104.80 | 303.66 | -73.95 | ||||
INDDH21-159 | 380488 | 6275661 | 1894.50 | 241.70 | 90.61 | -59.68 | ||||
INDDH21-160 | 380450 | 6275600 | 1865.82 | 271.50 | 168.09 | -58.58 | ||||
INDDH21-161 | 380450 | 6275600 | 1865.82 | 301.00 | 184.17 | -54.57 | ||||
INDDH21-162 | 380450 | 6275600 | 1865.82 | 250.50 | 124.42 | -71.36 | ||||
INDDH21-163 | 380529 | 6275749 | 1916.42 | 270.50 | 270.50 | -78.50 | ||||
INDDH21-164 | 380315 | 6276108 | 1769.50 | 102.50 | 297.32 | -77.38 | ||||
INDDH21-165 | 380317 | 6276109 | 1770.06 | 131.50 | 341.03 | -61.99 | ||||
INDDH21-166 | 380319 | 6276108 | 1770.15 | 113.50 | 63.42 | -68.83 | ||||
INDDH21-167 | 380317 | 6276105 | 1770.25 | 134.00 | 197.50 | -65.35 | ||||
INDDH21-168 | 380180 | 6276057 | 1698.57 | 230.00 | 270.21 | -55.55 | ||||
INDDH21-169 | 380178 | 6275861 | 1696.16 | 16.06 | 258.00 | -67.00 | ||||
Quality Control and Assurance ("QA/QC")
Drill core and rock samples for the KSP 2021 exploration program followed chain of custody between collection and delivery to a Bureau Veritas ("BV") laboratory in
Notes:
* Gold equivalent ("AuEq") is used for illustrative purposes, to express the combined value of gold, silver, copper and zinc as a percentage of gold. Calculations are uncut and no allowances have been made for recovery losses that would occur in a mining scenario. AuEq is calculated on the basis of
AuEq = (
** Grab, chip and float samples are selective in nature, therefore reported mineralization and assay results may not be representative.
Qualified Person
We seek safe harbour.
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QuestEx Gold & Copper Ltd. is exploring for gold and copper with a focus on
ON BEHALF OF THE BOARD OF DIRECTORS OF QUESTEX GOLD & COPPER LTD.
"Joseph Mullin"
Chief Executive Officer and Director
Neither the
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