La Quinta Resources Drilling at Carruthers Pass Massive Sulfide Project, B.C.
September 14 2011 - 9:30AM
Marketwired
La Quinta Resources Corporation ("La Quinta" or "The Company") (TSX
VENTURE: LAQ)(FRANKFURT: LQK) is pleased to report that that
diamond drilling on the Carruthers Pass volcanogenic massive
sulfide project is underway. Drilling is targeting three areas
initially. Full Force Drilling of Peachland, B.C. has been
contracted to drill up to 1,000 m (3,250 ft) NQ core in this
helicopter - supported program. Sampling of visibly altered and
mineralized intervals is in progress.
Initial drilling targeted massive sulfide mineralization
approximately 10 m x 7 m where exposed. The exposure is interpreted
as a boulder by former operators. The angle drilling intersected 3
m (10 ft) thickness of copper-dominant massive sulfide in contact
with metagabbro, beneath which was unconsolidated material. The
Company believes this exposure to be a detached slab; its massive
sulfide is thicker than any horizons reported by previous
operators. Quarter-split samples of this core have also been
submitted to ALS Minerals. During due-diligence review of the
project, the Company sampled this slab to confirm historical values
reported in prior technical reports. Values from those grabs are as
follows:
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Au g/t Ag g/t
Sample No. Sample (oz/st) (oz/st) Cu % Zn %
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080711-01 Massive pyrite w/ 3.84 (0.112) 147 (4.3) 2.43 2.90
chalcopyrite, top
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080711-02 Sulfide-rich shale + 0.85 (0.025) 111 (3.2) 1.81 6.46
gouge, W side
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080711-03 Massive pyrite w/ 3.38 (0.099) 82 (2.4) 1.49 4.21
chalcopyrite, bottom
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The values compare favorably with historic sampling reported
previously at this site:
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Sample No. Cu (%) Zn (%) Ag (g/t) Au (g/t)
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62692 1.12 7.05 56 2.100
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72638 2.62 2.99 greater than 99 0.169
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63454 3.13 4.50 greater than 99 0.458
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Govt-A 4.44 4.48 250 3.170
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In addition to the drilling, an Induced Polarization surface
survey ("IP") is underway over and outlier to the drill sites.
Scott Geophysics is the contractor for these IP surveys.
Mr. Geoffrey Goodall, P. Geo., an independent qualified person
as defined under Standard for Disclosure of Mineral Projects ("NI
43-101") has supervised field activities including chain-of-custody
protocols.
The information contained in this news release has been
reviewed, approved and deemed relevant by Walter Martin, the
Company's President, C.P.G., a qualified person as defined under
Standards for Disclosure of Mineral Projects (National Instrument
43-101).
The Carruthers Pass project is under option from Cariboo Rose
Resources Ltd. (TSX VENTURE: CRB) ("Cariboo Rose"). Under the terms
of the LOI, the Company can acquire 90% of the project from Cariboo
Rose over a six (6) year term by spending $2 million in work
commitments on the project, and making payments of $470,000 cash
and issuing 2 million shares of the Company's common stock to
Cariboo Rose. The Company further has opportunity to acquire the
remaining 10% interest from Cariboo Rose at fair market value. The
project is subject to a 2.5% royalty, which may be reduced to 1%
royalty by purchase from the underlier, Phelps Dodge Corporation of
Canada, Limited for $1.5 million.
About La Quinta Resources Corporation
La Quinta is a junior precious metals exploration company
actively seeking mineral opportunities for the benefit of our
stakeholders. Currently the Company is focused on exploring for
gold and silver on the Easter Project and on its Black Jack
properties in Nevada. The Easter Project is underlain by an
epithermal quartz-adularia vein stockwork system hosted within
Tertiary volcanic rocks of the Caliente Caldron Complex of
southeastern Nevada. Numerous drill programs were conducted over
the past 27 years by several operators. The resultant 121 holes and
five adits were used to outline a 43-101 compliant resource of 2.6
million tons at 1.3 g/t gold (0.038 oz/t) and 14 g/t silver (0.4
oz/t) within an area of gold mineralization with a strike length of
at least 6,450 feet (1,966 m) and drill-defined widths up to 90
feet (27.4 m). Significant prior intercepts include up to 0.194 oz.
Au / ton over 90 feet (6.6 g/t over 27.4m true thickness)
(including 0.549 oz. Au / ton over 15 feet (18.8 g/t over 4.5m))
and 0.084 oz. / ton over 110 feet (including 0.534 oz. Au / ton
over 5 feet) (2.88 g/t over 33.5 m w/internal 18.3 g/t in 1.52 m).
The Black Jack property, an early-stage exploration target in NE
Nevada, consists of old mine workings that contain silver-
gold-base metals veins hosted in Ordovician limestones that overlie
nearby Cambrian shale. The Carruthers Pass property is a massive
sulfide project with copper, gold and silver located 70km south of
Kemess copper-gold mine. The project consists of 8 claims covering
3,250 hectares. No resources have been identified in either the
Black Jack or Carruthers Pass properties.
On behalf of the board
Glen Watson, CEO and Director
This document includes forward- looking statements. When used in
this document, the words "potential", "plan", "could", "estimate",
"expect", "intend", "may", "should", and similar expressions are
intended to be among the statements that identify forward-looking
statements. Although La Quinta believes that their expectations
reflected in these forward-looking statements are reasonable, such
statements involve risks and uncertainties and no assurance can be
given that actual results will be consistent with these
forward-looking statements.
SEC 12G file#82-35061
"Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Contacts: La Quinta Resources Corporation Glen Watson CEO and
Director 1(604) 803-5229 La Quinta Resources Corporation Ed Baer
Director 1(416) 804-0512 info@laquintaresources.com
www.laquintaresources.com