22 January 2015
Kona Mineral Resource on Fyre Lake Project Increases by 40% to 12.6 Mt @ 1.56% Cu, 0.09% Co, 0.63 g/t Au and 0.30 % Zn
• The Kona Mineral Resource on the Fyre Lake Project, has increased by over 40%, or 3.6 Mt, while maintaining metal grades;
• The updated Mineral Resource estimate for the Kona Deposit at a 1% Cu cut-off is:
➢ Total - 12.6 Mt @ 1.56% Cu, 0.09% Co, 0.63 g/t Au, 0.30 % Zn
➢ Indicated - 3.5 Mt @ 1.55% Cu, 0.10% Co, 0.63 g/t Au, 0.31 % Zn
➢ Inferred - 9.1 Mt @ 1.56% Cu, 0.09% Co, 0.63 g/t Au, 0.30 % Zn
• The increase in the Kona Mineral Resource is due to a more systematic geological interpretation which decreased the total mineralized volume, however, increased the estimated Mineral Resource by over 40% above the 1.0% Cu cut-off;
• With the upgrade to the Kona Mineral Resource, MinQuest is now 70-78% towards its goal of defining total Mineral Resources in the range 16-17Mt, at the same metal grades, which in MinQuest’s opinion are required to sustain a stand-alone mining operation on the Fyre Lake Project;
• The Kona Mineral Resource remains open at depth to the south-east, laterally east and west and along strike across the valley of the Kona cirque to the North-West Ridge;
• A drilling program is being planned to commence in the northern hemisphere spring to test for extensions to the Kona Mineral Resource.
Price delayed by 20 mins.
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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.
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