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Silver Quest Expands Mineralization on Capoose Project, BC
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 29, 2010) - Silver Quest Resources Ltd. (TSX VENTURE:SQI) (the "Company") is pleased to report assay results for diamond drill holes D-10-113 and D-10-115 recently completed on the Capoose Project ("Capoose") located in North Central British Columbia. Drill holes D-10-113 and D-10-115 have confirmed that precious and base metal mineralization extends to the southeast 100 metres (m) beyond the current NI 43-101 inferred mineral resource of 1.32 million ounces of gold equivalent or 53 million tonnes at a grade of 0.77 grams per tonne (g/t) gold equivalent, including 699,999 ounces of gold at a grade of 0.41 g/t and 41.1 million ounces of silver at a grade of 23.93 g/t (see news release dated March 4, 2010). Mineralization remains open in all directions and at depth.
Silver Quest has completed 26 drill holes totaling 7,400 m of drilling in 2010 and has shipped approximately 3,700 core samples to the assay lab for analysis. Under the current exploration program, the Company plans to complete 10,000 m of drilling in approximately 35 drill holes at Capoose. The property is located 185 km southwest of Prince George, British Columbia. For further details and property maps, please visit the Company's website www.silverquest.ca.
Drill holes D-10-113 and D-10-115 were designed to follow-up the results from drill hole D-09-100, which was previously the southeastern-most hole within the Capoose deposit. D-09-100 intersected 1.99 g/t gold and 23.1 g/t silver across 30 m, from 99 m to 129 m depth (see news release dated October 20, 2009). Drill holes D-10-113 and D-10-115 were drilled to the west at minus 60 degrees and were collared 50 m and 100 m, respectively, south of D-09-100.
Significant Gold and Silver Assay Intercepts from D-10-113 and D-10-115
These holes intersected rhyolite tuff mineralized with garnets and sulphides. Hole D-10-115 also intersected andesite mineralized with bands of massive sulphide stringers up to 25 centimeters wide. These sulphide stringers may indicate the presence of volcanogenic massive sulphide (VMS)-style mineralization at Capoose. Hazelton Group rocks, which underlie the eastern side of the Capoose mineral claim, host VMS-style mineralization in other parts of BC. The Company is currently evaluating deep penetrating geophysical techniques as well as other exploration techniques that will target VMS-style mineralization.
Significant Zinc Assay Intercepts from D-10-113 and D-10-115
Drill core analysis and assaying is being conducted by Eco Tech Laboratory in Kamloops, BC, which is an International Standard ISO 9001:2000-certified laboratory. The core samples were analyzed using a 28-element ICPMS package with a 30-gm fire assay with AA finish for over limit (plus 1.0 g/t) gold, (plus 30 g/t) silver and (plus 10,000 g/t) zinc concentrations. The Company has implemented a quality assurance and quality control program to ensure that sampling and analysis of all samples is conducted in accordance with the best possible practices.
David Pawliuk, P.Geo., Vice President Exploration for Silver Quest is the Qualified Person, as defined by National Instrument 43-101 and supervised the preparation of the technical information in this release.
SILVER QUEST RESOURCES LTD.
"Randy Turner"
Randy Turner, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.
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