17 March 2015
MinQuest Adds the High Grade Cu-Zn-Pb-Au-Ag “Marg” VMS Deposit To its Copper Project Portfolio
• MinQuest has acquired the rights to earn up to a 75% interest in the Marg Project, a Cu-Zn-Pb-Au-Ag VMS Deposit located in the Yukon Territory of Canada;
• Project hosts the high-grade Marg VMS Deposit containing a total Mineral Resource of 11.74Mt at 1.27% Cu, 3.23% Zn, 1.55% Pb, 0.61g/t Au and 39.78g/t Ag (3.6% Cu Equivalent)*;
• MinQuest’s initial work on the project will be to undertake a limited drill program to collect samples for metallurgical test work, the results from which will allow the accuracy of economic model for the project to be enhanced, which is a Key Decision Point for the commencement of a Feasibility Study;
• The Marg Deposit is open along strike and at depth. MinQuest will look to expand the current Mineral Resource through extensional drilling, upon commencement of a Feasibility Study;
• The stratigraphic horizon containing the Marg VMS Deposit continues for over 15km within the tenements defining the project area and several highly prospective targets have been identified that are yet to be properly drill tested;
• Good infrastructure exists within the central part of the Yukon, where the Marg VMS Project is located, with a paved main road and an approved upgrade to a 138kV power transmission line within 40km of the project area. The project is accessible via a winter road that extends from the main paved road into the project area and a 380m air strip;
• With the acquisition of the Marg project and its existing Fyre Lake Copper Project, MinQuest’s project portfolio now contains 700,000t (approx.) of contained Cu Equivalent metal at a grade of 3% CuEq. Copper is currently trading at US$5,858/t.
Price delayed by 20 mins.
JOIN OUR MAILING LIST
Merah Resources Limited (ASX: MEH) would like to advise investors that the company has changed its name to MinQuest Limited (ASX: MNQ).
Presently a new website is being constructed and will be launched shortly with up to date information for investors and the local community as well as details on all of MinQuest's projects.
For regular updates check us out on Instagram and Twitter (@minquestltd) and on Facebook (MinQuest Ltd).
MinQuest Limited (ASX:MNQ) is a mineral exploration and project development company whose objective is to create wealth for shareholders through the acquisition of pre-production copper, copper-gold and multi-commodity base metal projects, completing exploration, scoping and feasibility studies and then capturing value for shareholders.
MinQuest pre-dominantly focus’s its exploration and project assessment activities on pre-production copper and copper-gold projects, which contain defined JORC compliant Mineral Resources. Through the application of leading edge geophysical techniques and new geological thinking, MinQuest aims to expand the currently defined Mineral Resources on its projects such that Scoping and Feasibility studies indicate that the projects will be economically viable as stand alone operations.
Since mid-2014 MinQuest has focused its activities in the Yukon Territory in Canada and in Australia, looking to capitalise on project opportunities in poorly explored geological terranes in these low sovereign risk countries.
MinQuest conducts its exploration and project assessment activities using socially and environmentally responsible methods. MinQuest aims to develop mutually beneficial relationships with all project stakeholders, particularly with the indigenous people’s in proximity to the companies projects.
Details of the both the Fyre Lake and Coober Pedy projects can be found in the MinQuest ASX Announcements page.
In addition, the company currently owns the farm-in rights to the Boizan and Antubia gold projects located in Ghana, West Africa