VANCOUVER, BC, Nov. 9, 2021 /CNW/ - QUESTEX GOLD & COPPER LTD. (TSXV: QEX) ("QuestEx" or the "Company"), would like to congratulate Newcrest Mining Limited ("Newcrest") and Pretium Resources ("Pretium") for announcing (Market Release, Nov. 9, 2021) that Newcrest has agreed to purchase Pretium in a deal that values Pretium at approximately CAD $3.5 billion.
Joe Mullin, QuestEx's CEO comments: "Within the last 9 months, Newcrest, Hochschild Mining and Newmont Corporation (QuestEx's largest shareholder), have increased their holdings within British Columbia's prolific Golden Triangle. As interest in the Golden Triangle continues to grow amongst the world's largest mining companies, we anticipate an increased pace to district consolidation. QuestEx has a 100% ownership interest in one of the largest and most prospective land packages within the Golden Triangle, with mineral tenures covering approximately 64,000 hectares in the Sulphurets district, close to Pretium's Brucejack mine, and 40,400 hectares in the Red Chris district. We consider QuestEx one of the most strategically situated companies within the Golden Triangle to potentially benefit from future consolidation."
About QuestEx's Properties in British Columbia's Golden Triangle
QuestEx's 100% owned, 64,000 hectare ("ha") land package (Figure 1B) in the Sulphurets district includes the contiguous KSP and Kingpin properties, which span approximately 60 kilometres from the McLymont Creek access road and hydroelectric projects, southwards, nearly to the past producing Granduc copper mine, which was accessed by road from the deep-water port town of Stewart. The properties are surrounded by some of the most important past and current mining and development projects in British Columbia including Eskay Creek, Snip, Johnny Mountain, Brucejack, Kerr, Sulphurets, Mitchell and Iron Cap. QuestEx has been actively exploring the KSP property and intends to release an inaugural National Instrument ("NI") 43-101 Mineral Resource Estimate for the Inel gold system, which is located on KSP, in Q1, 2022.
Red Chris District
QuestEx's 100% owned 40,452 ha land package (Figure 1A) in the Red Chris district borders the Red Chris property and mine, 70% of which was acquired by Newcrest from Imperial Metals for US$804 million in 2019, as well as the GJ property, which Newcrest purchased from Skeena Resources in 2020. QuestEx's mineral tenures include:
Castle, which adjoins both Newcrest's GJ property and Newmont's Tatoggoa property and is along trend of Newmont's Saddle North copper gold deposit,
North ROK, which hosts a porphyry copper-gold deposit (North ROK Inferred Mineral Resource) that contains 1.19 million ounces gold and 690 million pounds copper, and
Coyote, which borders Newcrest's Red Chris property and includes part of the Red Chris access road.
We seek safe harbor.
Tony Barresi, Ph.D., P.Geo., QuestEx's President, a Qualified Person within the meaning of NI 43-101, has reviewed and approved the technical information in this news release.
QuestEx Gold & Copper Ltd. is exploring for gold and copper with a focus on the Golden Triangle and Toodoggone areas of British Columbia, Canada. It has 100% ownership of one of the largest portfolios of mineral tenures in British Columbia's metal-rich Golden Triangle. The portfolio includes the 312 square kilometre KSP property, which is surrounded by some of the most important past and current mining and development projects in British Columbia (e.g. Eskay Creek, Snip, Brucejack, KSM, Johnny Mountain); QuestEx intends to release a NI 43-101 mineral resource estimate for the Inel gold system, located on the KSP property, in 2022. In the northern corner of the Golden Triangle in the Red Chris mining district QuestEx's portfolio includes the Castle property, a porphyry copper-gold project located adjacent to Newmont's Tatogga property, and along trend of the Saddle North porphyry copper-gold deposit (>10 million ounces gold, in all categories). Other properties include North ROK, Coyote, and Kingpin in the Golden Triangle, Sofia in the Toodoggone district, and Heart Peaks and Hit in other strategic districts within British Columbia. These assets are being advanced by a newly assembled technical and management team with experience in exploration, permitting and discovery.
We seek safe harbor.
ON BEHALF OF THE BOARD OF DIRECTORS OF QUESTEX GOLD & COPPER LTD.
Chief Executive Officer and Director
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, are forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators as well as the risk that the ongoing COVID-19 pandemic may have on the Company's business. Important factors could cause actual results to differ materially from QuestEx expectations. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. QuestEx does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
SOURCE QuestEx Gold & Copper Ltd.
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