Golden Queen Mining Co. Ltd. (TSX:GQM) (OTCQX:GQMNF) is pleased to announce drill results for seven additional holes at its 50%-owned Soledad Mountain gold-silver mine located south of Mojave, California.
The drill results are part of the Company’s 2018 Main Pit 2 Infill Drilling program. The completed holes GQ-829 through GQ-835 continue to be successful in intersecting and geologically verifying existing shallow mineralized zones in and around the currently mined East Pit, and also continue to be successful in exploring for and intersecting deeper mineralized zones. In some cases, some new mineralized zones have potentially been identified.
Each hole listed in the table below has intersected strong alteration envelopes and locally significant gold/silver mineralization associated with the Patience, Independence, Karma and Queen Esther zones, and has encountered the deeper Silver Queen target in every hole along with other mineralized zones.
Several key features have been observed in the drill cuttings from this group of seven holes:
In general, the true thickness of the various mineralized zones is estimated at 75-95% of the mineralized interval in the drill hole. The table below highlights the assay results and initial observations to date:
Hole # | Hole depth
(feet) |
Drilled interval (feet) |
Length of drilled interval in hole (feet) |
Estimated true thickness of drilled interval (feet) |
Au (opt) | Ag (opt) | Structure |
GQ-829 | 1100 | 20-40 | 20 | 18.0 | 0.024 | 0.23 | Queen Esther |
55-65 | 10 | 9.0 | 0.035 | 0.12 | Queen Esther | ||
185-190 | 5 | 4.4 | 0.017 | 0.05 | Queen Esther | ||
200-205 | 5 | 4.3 | 0.012 | 0.05 | Queen Esther | ||
230-235 | 5 | 4.3 | 0.017 | 0.13 | Queen Esther | ||
255-270 | 15 | 12.7 | 0.009 | 0.02 | Queen Esther footwall | ||
275-285 | 10 | 8.4 | 0.012 | 0.08 | Queen Esther footwall | ||
295-315 | 20 | 16.7 | 0.013 | 0.30 | Queen Esther footwall | ||
355-380 | 25 | 20.5 | 0.002 | 0.27 | Unnamed | ||
410-415 | 5 | 4.8 | 0.033 | 0.42 | Trp-Tmp contact | ||
520 – 525 | 5 | 3.9 | 0.011 | 0.11 | Unnamed | ||
565 – 570 | 5 | 3.9 | 0.011 | 0.08 | Unnamed | ||
655 – 670 | 15 | 11.4 | 0.001 | 0.32 | Unnamed | ||
710 – 715 | 5 | 3.7 | 0.077 | 2.29 | Silver Queen | ||
GQ-830 | 700 | 390 – 405 | 15 | 13.9 | 0.040 | 1.76 | Silver Queen |
485 – 490 | 5 | 4.5 | 0.012 | 1.17 | Silver Queen | ||
515 – 560 | 45 | NA | NA | NA | Open Stope | ||
560 – 655 | 95 | NA | 0.116 | 1.26 | Stoped Vein | ||
655 – 660 | 5 | 4.0 | 0.013 | 0.22 | Silver Queen | ||
680 – 685 | 5 | 4.0 | 0.016 | 0.08 | Silver Queen | ||
GQ-831 | 1000 | 500 – 505 | 5 | 4.5 | 0.015 | 0.05 | Unnamed |
650 – 655 | 5 | 4.4 | 0.010 | 0.04 | Unnamed | ||
815 – 820 | 5 | 4.0 | 0.178 | 1.06 | Silver Queen | ||
GQ-832 | 980 | 125 – 130 | 5 | 4.8 | 0.015 | 0.36 | Queen Esther |
245 – 250 | 5 | 4.8 | 0.015 | 0.11 | Unnamed | ||
260 – 265 | 5 | 4.8 | 0.022 | 0.21 | Unnamed | ||
495 – 500 | 5 | 4.3 | 0.021 | 0.10 | Trp-Tmp contact | ||
520 – 525 | 5 | 4.3 | 0.012 | 0.06 | Trp-Tmp contact | ||
570 – 590 | 20 | 17.2 | 0.017 | 0.13 | Trp-Tmp contact | ||
785 – 790 | 5 | 4.7 | 0.012 | 0.50 | Silver Queen | ||
870 – 880 | 10 | 9.4 | 0.017 | 2.57 | Silver Queen | ||
915 – 925 | 10 | 9.4 | 0.088 | 3.34 | Silver Queen | ||
GQ-833 | 900 | 55 – 75 | 20 | 18.6 | 0.047 | 0.90 | Queen Esther |
90 – 95 | 5 | 4.6 | 0.016 | 0.17 | Queen Esther | ||
175 – 180 | 5 | 4.7 | 0.058 | 0.36 | Queen Esther | ||
205 – 215 | 10 | 9.3 | 0.017 | 0.08 | Queen Esther | ||
365 – 375 | 10 | 9.2 | 0.013 | 0.10 | Unnamed | ||
565 – 570 | 5 | 4.5 | 0.027 | 0.53 | Unnamed | ||
640 – 645 | 5 | 4.5 | 0.010 | 0.14 | Unnamed | ||
880 – 895 | 15 | 13.0 | 0.031 | 1.04 | Silver Queen | ||
GQ-834 | 1010 | 10 – 25 | 15 | 14.5 | 0.017 | 0.23 | Queen Esther |
35 – 45 | 10 | 9.6 | 0.041 | 0.44 | Queen Esther | ||
130 – 135 | 5 | 4.8 | 0.019 | 0.13 | Queen Esther | ||
155 – 160 | 5 | 4.7 | 0.109 | 0.19 | Queen Esther | ||
195 – 200 | 5 | 4.7 | 0.026 | 0.07 | Queen Esther | ||
235 – 240 | 5 | 4.7 | 0.023 | 0.26 | Queen Esther | ||
310 – 315 | 5 | 4.6 | 0.015 | 0.32 | Unnamed | ||
355 – 360 | 5 | 4.5 | 0.018 | 0.07 | Trp-Tmp contact | ||
375 – 390 | 15 | 13.7 | 0.042 | 0.20 | Trp-Tmp contact | ||
440 – 445 | 5 | 4.6 | 0.109 | 0.87 | Unnamed | ||
545 – 550 | 5 | 4.3 | 0.015 | 0.07 | Unnamed | ||
745 – 750 | 5 | 4.1 | 0.011 | 1.04 | Silver Queen | ||
825 – 830 | 5 | 4.1 | 0.014 | 0.64 | Silver Queen | ||
995 – 1000 | 5 | 3.9 | 0.050 | 0.41 | Silver Queen | ||
GQ-835 | 865 | 20 – 25 | 5 | 3.6 | 0.011 | 0.09 | Karma |
45 – 55 | 10 | 7.2 | 0.043 | 0.35 | Karma | ||
205 – 225 | 20 | 18.3 | 0.012 | 0.26 | Patience | ||
480 – 485 | 5 | 4.2 | 0.012 | 0.22 | Trp-Tmp contact | ||
665 – 670 | 5 | 4.7 | 0.013 | 0.64 | Silver Queen | ||
705 – 715 | 10 | 9.3 | 0.022 | 0.53 | Silver Queen | ||
810 – 815 | 5 | 4.6 | 0.016 | 0.37 | Silver Queen |
Additional information on the geographic parameters of the drilling program is presented in the table and figure below:
Hole ID | Collar azimuth |
Collar inclination |
TD |
GQ-829 | 225 | -65 | 1100 |
GQ-830 | 45 | -80 | 700 |
GQ-831 | 0 | -90 | 1000 |
GQ-832 | 225 | -55 | 980 |
GQ-833 | 225 | -62 | 900 |
GQ-834 | 225 | -55 | 1010 |
GQ-835 | 225 | -45 | 865 |
Additional interpretive work must be completed before these initial geologic observations are verified. Additional assays, when received, should assist with testing the grade continuity of all these structures from section to section.
The company is waiting for the assay results of nine (9) additional holes completing this already successful program
March Operational Results
During the fourth quarter of 2017, Golden Queen accelerated the East Pit development to access higher-grade ore tons to compensate for the shortfall in the ore supplied and the lower than expected gold ore grades from the North-West and Main (Phase 1) Pits. Since November 2017 up to the end of March 2018, eight benches have been mined out in the East Pit and the Company is pleased to report the following positive reconciliation between Ore Control (production) and Reserves:
Ore Control v. Reserves | |||||
Ore tons | Au oz/ton | Au oz | Ag oz/ton | Ag oz | |
Bench 3680 | |||||
Reserves | 297,599 | 0.018 | 5,226 | 0.293 | 87,306 |
Ore Control | 313,339 | 0.022 | 6,990 | 0.318 | 99,489 |
Bench 3660 | |||||
Reserves | 328,400 | 0.018 | 5,807 | 0.320 | 348,836 |
Ore Control | 348,836 | 0.023 | 8,038 | 0.331 | 115,780 |
Cumulative to date (1) | |||||
Reserves | 1,505,103 | 0.016 | 24,612 | 0.285 | 428,766 |
Ore Control | 1,825,872 | 0.020 | 36,706 | 0.315 | 575,464 |
Variance OC-Reserves
Reserves |
21.3% |
22.9% |
49.1% |
10.6% |
34.2% |
(1) | The cumulative results include six additional benches previously disclosed on January 18, February 21, and March 27. |
The tonnage produced in the East Pit continues to be better than expected due to the presence of ore blocks in the Patience vein structure area that had been classified as possible or simply un-modeled. In addition, the gold grade was 23% higher than estimated for a total of 1.5 times the expected gold ounces that had been predicted. The silver grade was 11% higher than estimated for a total of 1.3 times the predicted number of silver ounces.
Technical Information
The scientific and technical content of this news release relating to the drill results was reviewed, verified and approved by George F. Klemmick, BSc. Geology and CPG-10937, independent consulting geologist, and a qualified person as defined by National Instrument 43-101.
The scientific and technical content of this news release relating to the operational results was reviewed, verified and approved by Tim Mazanek, SME, a qualified person as defined by National Instrument 43-101.
About Golden Queen Mining Co. Ltd.:
Golden Queen is an emerging gold and silver producer holding a 50% interest in an open pit, heap leach mining operation on the Soledad Mountain property, located just outside the town of Mojave in Kern County in southern California.
PPX Mining Corp. is pleased to announce that it has closed its fu... READ MORE
Elevation Gold Mining Corporation (TSX-V: ELVT) (OTCQB: EVGDF) i... READ MORE
Reunion Gold Corporation (TSX-V: RGD; OTCQX: RGDFF) is pleased to announ... READ MORE
Puma Exploration Inc. (TSX-V: PUMA) (OTCQB: PUMXF) is thrilled to... READ MORE
Grid Metals Corp. (TSX-V:GRDM) (OTCQB:MSMGF) is pleased to announ... READ MORE