VANCOUVER, British Columbia, June 06, 2024 (GLOBE NEWSWIRE) — Nice Quest Fertilizer Ltd. (TSX-V: GQ) (Nice Quest or the Firm) is happy to offer an replace on work accomplished on the Belmont gold goal in Namibia and the Firm’s future plans. Please see the Firm’s December 23, 2023 and Might 27, 2024 press launch concerning the Firm’s acquisition of Belmont Exploration (PTY) Ltd. (Belmont).
The Belmont GoalThe lately found Belmont goal, Belmont, includes a zone of 72 km2 located between the Khorixas and Belmont Thrust zones in Namibia which represents certainly one of 5 exploration targets in Damara gold and lithium initiatives. Roughly 90% of the prospect is obscured by calcrete and scree cowl. Restricted work, together with rock chip sampling, soil sampling (additionally calcrete sampling), trenching and some drillholes, has recognized 15 goal areas throughout the Belmont hall. Particular person anomalies seem to coincide with smaller-scale conjugate splay buildings situated between the 2 thrust zones, particularly the Khorixas and the Belmont thrust (Fig. 1).
Determine 1: Map of the Belmont Hall
Determine 1: Rock chip samples map from Belmont hall together with each float and in situ samples.
Exploration work commenced at Belmont in September 2023. To this point, the work has consisted of mapping, assortment of 90 rock chip samples, 2073 calcrete and 973 soil/pitting samples. The Firm has recognized 5 new targets and expanded present targets.
Rock ChipsRock chip samples have been collected from the Annex, VG Hill, BK1, BK2, BK3, BK11 and BK12 areas. Chosen outcomes reveal samples of three.93 g/t Au (BK1 NW), 2.5 g/t Au (BK1 NE), 4.6 g/t Au (BK2), 8.08 g/t Au (BK13), 145.7 g/t Au (VG Hill). A number of Seen Gold samples have been noticed each at BK2 and VG Hill (Fig. 2).
Determine 2: Pictures of Rock Chip Samples
Determine 2: A) Rock chip pattern from BK2 with seen gold B) & C) Rock chip samples from VG Hill with seen gold.
The BK2 goal which the Firm has expanded by means of mapping and rock chip sampling incorporates a greater than 5km lengthy pattern with vital gold in rock chip samples (Fig. 3). Roughly 85% of the goal space is roofed by a layer of calcrete and scree capping with a thickness between one and 5 meters. Restricted percussion drilling at BK2 in 2022, yielded shallow excessive grade gold mineralization with the perfect intercept recording 6m at 6.85 g/t Au from 20m.
Determine 3: Map of the BK2 Goal Space
Determine 3: Rock chip samples map from the BK2 goal space together with each float and in situ samples.
Future WorkThe speedy work to be accomplished on the Belmont goal contains finalization of detailed mapping carried out, evaluation of all calcrete and soil samples collected in addition to an in depth drone primarily based magnetic survey. As soon as all knowledge is obtained, these shall be collectively interpreted and used for drill goal technology.
Dr. Andreas Rompel, President and VP Exploration, commented, Exploration work is underway on the Belmont Hall as we assess the magnitude of the mineralization and the deposit dimension within the concession. Preliminary sampling exhibits wonderful potential because the Firm explores this new goal and its concentrate on gold.
Certified Particular person
The scientific and technical data on this launch has been reviewed and permitted by Dr. Andreas Rompel, Pr.Sci.Nat. (400274/04), FSAIMM, the Firm’s certified particular person as outlined in Nationwide Instrument 43-101 “ Requirements of Disclosure for Mineral Initiatives.
About Nice Quest
Nice Quest Fertilizer Ltd. is a Canadian mineral exploration firm centered on the event of African gold initiatives in Namibia, Morocco and Mali. The Firm’s flagship asset is the Sanoukou Gold Undertaking, encompassing 24 km2 situated within the Kayes area to the West of Mali and creating the Tilemsi Phosphate Undertaking a 1,206 km ² parcel in northeastern Mali, containing prime quality phosphate assets amenable to make use of as direct software fertilizer. Nice Quest is listed on the TSX Enterprise Trade below the image GQ, and the Frankfurt Inventory Trade below the image GQM.
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST FERTILIZER LTD.
Jed Richardson
Government Chairman
Disclaimer for Ahead-Trying Data
This information launch could comprise forward-looking statements. Ahead-looking statements embody, with out limitation, the Firm’s proposed acquisition of Belmont, the prospectivity of the Belmont Goal, the Firm’s potential to acquire financing, Belmont goal and the Firm’s future plans. These statements are primarily based on present expectations and assumptions which can be topic to dangers and uncertainties. Precise outcomes may differ materially due to elements mentioned within the administration dialogue and evaluation part of our interim and most up-to-date annual monetary statements or different reviews and filings with the TSX Enterprise Trade and relevant Canadian securities laws. We don’t assume any obligation to replace any forward-looking statements, besides as required by relevant legal guidelines.
Neither the TSX Enterprise Trade nor its Regulation Providers Supplier accepts accountability for the adequacy or accuracy of this launch.
Images accompanying this announcement can be found at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9ac58264-189d-47f9-905b-5759d7d4ef03
https://www.globenewswire.com/NewsRoom/AttachmentNg/be8947e9-4e97-4548-959e-701035050693
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For extra data:Please contact Aidan Sullivan by electronic mail at IR@greatquest.com
Determine 1: Map of the Belmont Hall
Rock chip samples map from Belmont hall together with each float and in situ samples.
Determine 2: Pictures of Rock Chip Samples
A) Rock chip pattern from BK2 with seen gold B) & C) Rock chip samples from VG Hill with seen gold.
Determine 3: Map of the BK2 Goal Space
Rock chip samples map from the BK2 goal space together with each float and in situ samples.
Supply: Nice Quest Fertilizer Ltd.
