Tilemsi Phosphate Exploration Results
VANCOUVER, British Columbia, March 08, 2018 (GLOBE NEWSWIRE) -- Great Quest Fertilizer Ltd (TSXV:GQ) (“the Company”) is pleased to share results from our recently completed resource pitting program for the Tilemsi phosphate project.
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The objective of the program is to increase resource confidence in a specified target area for mining. Great Quest has delineated an inferred resource of 50 million tonnes grading 24.8% P2O5 (news release dated April 30, 2015). Work from this recent program aims to upgrade small portions of this inferred resource to indicated and measured resources by reducing the grid to 250 X 250 m and 125 X 125 m. A total of 38 pits (21 in the target area for measured resources and 17 on the area of indicated resources) were executed with an objective of a ten year mine life. This program was completed in a portion of the orebody with shallow overburden and representative grade. A total of 89 samples including duplicates, blanks and standards have been collected and submitted to the ALS laboratory in Bamako for preparation and assays at ALS Lab in South Africa with ME-XRF26 method. The weights of samples collected in the fields vary from five to eight kilos.
36 holes intercepted the mineralized material, 2 were abandoned before hitting the zone. Strong results have been recorded and they vary from 22.5% to 33.5% P2O5 over intercepts of 0.33m to 1.20m, from out crop to 6.25m depth. Results recorded on phosphates intersections are given below. 92% of the results were above the inferred resource average of 24.8% P2O5.
The program took advantage of the shallow depths and loosely consolidated ground and employed machine and hand dug pits to reduce the impact of grade smearing. Geologists were able to identify clear contacts between mineralized material and wall rocks. Since reverse circulation drilling was used to define the inferred resource, the higher quality sampling technique of this program may potentially increase the grade of the deposit.
Commenting, Jed Richardson President and CEO, “We took our time completing this program, carefully working through the assistance of Salam Mineau, our partners in Northern Mali. Beyond the technical and geological success of this program, it is an excellent demonstration that Great Quest can operate in what historically has been a challenging environment. We intend to use the data collected to establish a measured and indicated resource, as we move the project towards bankable feasibility and a mining exploitation permit.”
Full Results
| Index | SampleID | From (m) | To (m) | Length | P2O5 (%) |
| 1 | THPS002 | 2.85 | 3.90 | 1.05 | 22.5 |
| 2 | THPS006 | 2.70 | 3.85 | 1.15 | 27.3 |
| 3 | THPS009 | 5.20 | 6.25 | 1.05 | 28.8 |
| 4 | THPS013 | 2.70 | 3.75 | 1.05 | 31.6 |
| 5 | THPS016 | 1.10 | 2.10 | 1.00 | 29.7 |
| 6 | THPS019 | 0.65 | 1.70 | 1.05 | 32.2 |
| 7 | THPS021 | 2.30 | 3.33 | 1.03 | 29.5 |
| 8 | THPS023 | 3.00 | 4.10 | 1.10 | 32.6 |
| 9 | THPS027 | 2.05 | 3.10 | 1.05 | 31.2 |
| 10 | THPS031 | 1.10 | 2.15 | 1.05 | 32.2 |
| 11 | THPS033 | 2.30 | 3.40 | 1.10 | 27.1 |
| 12 | THPS036 | 0.90 | 2.05 | 1.15 | 33.5 |
| 13 | THPS039 | 2.60 | 3.75 | 1.15 | 29.7 |
| 14 | THPS041 | 4.85 | 5.90 | 1.05 | 28.1 |
| 15 | THPS043 | 4.10 | 5.15 | 1.05 | 28.6 |
| 16 | THPS045 | 4.45 | 5.55 | 1.10 | 27.8 |
| 17 | THPS047 | 3.05 | 4.10 | 1.05 | 29.8 |
| 18 | THPS049 | 2.85 | 4.00 | 1.15 | 29.9 |
| 19 | THPS052 | 0.45 | 1.40 | 0.95 | 28.9 |
| 20 | THPS054 | 2.90 | 4.00 | 1.10 | 29.1 |
| 21 | THPS057 | 1.75 | 2.75 | 1.00 | 30.4 |
| 22 | THPS058 | 2.75 | 3.08 | 0.33 | 29.2 |
| 23 | THPS061 | 2.15 | 3.20 | 1.05 | 28.2 |
| 24 | THPS063 | 2.40 | 3.40 | 1.00 | 27.9 |
| 25 | THPS065 | 1.60 | 2.35 | 0.75 | 26.9 |
| 26 | THPS067 | 1.00 | 1.90 | 0.90 | 25.3 |
| 27 | THPS070 | 0.20 | 1.05 | 0.85 | 26.5 |
| 28 | THPS072 | 2.30 | 3.15 | 0.85 | 25.8 |
| 29 | THPS074 | 2.60 | 3.40 | 0.80 | 28.4 |
| 30 | THPS077 | 3.60 | 4.40 | 0.80 | 23.0 |
| 31 | THPS079 | 1.60 | 2.60 | 1.00 | 27.2 |
| 32 | THPS080 | 1.60 | 2.60 | 1.00 | 28.5 |
| 33 | THPS082 | - | 1.10 | 1.10 | 23.2 |
| 34 | THPS084 | 1.10 | 2.30 | 1.20 | 25.5 |
| 35 | THPS086 | 3.10 | 4.30 | 1.20 | 29.1 |
| 36 | THPS088 | 1.10 | 1.95 | 0.85 | 27.1 |
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3b80614e-85b0-4adc-9ef3-241fe6abe016
The technical information in this press release has been reviewed and approved by Jed Diner, MSc. P.Geol., a Qualified Person as defined by National Instrument 43-101. Mr. Diner, a consulting geologist to the Company, completed his MSc. in Applied Earth Science at Stanford University in 1983 and works internationally on mineral exploration and resource development projects. He has consulted on other Phosphate projects in Uzbekistan, Peru and Angola.
About Great Quest
Great Quest Fertilizer Ltd. is a Canadian mineral exploration company focused on the development of African agricultural mineral projects for local production of farm ready fertilizers. The Company’s flagship asset is the Tilemsi Phosphate Project, encompassing 1,206 km² in northeastern Mali, containing high quality phosphate resources amenable to use as direct application fertilizer. Great Quest is listed on the TSX Venture Exchange under the symbol GQ, and the Frankfurt Stock Exchange under the symbol GQM.
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST FERTILIZER LTD.
“Jed Richardson”
President, Chief Executive Officer and Director
For more information:
Please call Jed Richardson at 1-877-325-3838 or email info@greatquest.com
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. The statements that are not historical facts and are forward-looking statements involving known and unknown risks and uncertainties could cause actual results to vary materially from the targeted results. We seek safe harbor.