Highlights
From the Phase II five-hole drill program for 1,246 metres ('m') on the
All holes returned UM intrusive sequences with intercalated sulfide mineralised layers.
At the
High-grade Cu veins and stringers intersect mineralisation grading up to 6.49% Cu
A 600-kilometer ('km') line gravimetric airborne survey identified additional targets and validated the
Phase II results are in addition to the
Hole LB-23-15 intersected 160m of UM intrusions with 34.35m of combined mineralisation grading 1.16% CuEq including 17.85m at 0.49% Ni and 0.36% Cu. A key feature is the presence of several millimetric to centimetric veins of sulfide-rich material, mostly massive chalcopyrite, pyrrhotite and pentlandite, that intersect the early-stage sulfide mineralisation at various angles (mostly between 45 and 90 degrees from the core axes) and return up to 6.49% Cu.
Additionally, in
Dr.
Untapped Geological Potential of SRQ's Lac Brule Property
SRQ's discoveries are being made on its 100%-owned Lac Brule property located 50km north-west of the former
Key Findings
Tectonic Significance: Pyroxenite intrusive units are injected into highly deformed and highly metamorphosed gneiss, intercalated with garnet-rich amphibolite's of the
Base Metal Sulfide Mineralisation: Analysis of the drilling samples indicates the presence of significant Ni and Cu mineralisation associated with pyrrhotite, chalcopyrite and pentlandite. This discovery strongly suggests potential for additional mineralised units of large UM intrusive complexes.
Geophysical Surveys of Gossan and North Zones
In
The SW-NE longitudinal vertical cross-section shows a low-dipping, thick layer of peridotite-pyroxenite magmatic intrusive sequence intruding the
The Ni-Cu mineralisation encountered is characterized by cumulate and aggregates of iron, copper and nickel sulfides: pyrrhotite, chalcopyrite and pentlandite, respectively. Pyrrhotite is the dominant sulfide with visible chalcopyrite. Pentlandite can be seen mixed with pyrrhotite. The textures of the sulfide mineralisation vary from disseminated to semi-massive to massive (> 80% of sulfide material) showing net-texture or brecciated sulfides between pyroxene and amphiboles. Thin massive sulfide horizons are intercalated and sometimes associated with garnet-rich xenoliths.
Appendices 1 and 2 provide composited drilling results at cut-off-grades ('COG') of 0.2% and 0.4% Ni, respectively for the
Quality Control
Core logging and sampling are performed at SRQ's field facilities by SRQ's staff. Sample preparation and analysis are carried out by
The technical information in this release has been reviewed and approved by Dr.
The Company is pleased to announce that it has retained the services of
'We are pleased to announce that we have selected Renmark to reinforce
In consideration of the services to be provided, the monthly fees incurred by SRQ will be a cash consideration of
The Company is pleased to announce that it has retained
ITG will trade the securities of the Company on the TSXV for the purpose of maintaining an orderly market. In consideration of the services provided by ITG, the Company will pay ITG a monthly fee of
The Company and ITG are unrelated and unaffiliated entities and ITG has no interest, directly or indirectly in the Company or its securities. ITG will not receive shares or options as compensation, nor have they indicated any immediate intent to acquire shares of the Company through the open market or otherwise. The capital used for market making will be provided by ITG.
About ITG
ITG is a full-service securities dealer regulated by the
About
SRQ is a Canadian base metals company exploring for nickel, copper and platinum in the province of
A near-surface Ni-Cu project, Lac Brule is located on a 288 km-2 virgin exploration property at a five-hour drive from
Contact:
President and CEO
Tel: (514) 726-4158
Email: ceo@srqexploration.com
Forward-Looking Statements and Forward-Looking Information:
Certain of the statements made and information contained herein are 'forward-looking statements' or 'forward-looking information' within the meaning of Canadian securities legislation. Forward-looking statements and forward-looking information characterized by terms such as 'will', could', 'expect', 'estimate', 'evidence', 'potential', 'appears', 'seems', 'suggest', are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and forward-looking information, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: the speculative nature of mineral exploration and development; assumptions relating to the trading price of the Company's common shares; the ability of the Company to convert resources in reserves, its ability to see through the next phase of development on any project, its ability to produce a pre-feasibility study or a feasibility study regarding any project, its ability to execute on its development plans in terms of metallurgy or exploration, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties. Many of these uncertainties and contingencies can affect the Company's actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements and forward-looking information made by or expressed on behalf of the Company. Readers are cautioned that forward-looking statements are not guarantees of future performance. The Company disclaims any intention or obligation to update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
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