Great Quest Metals Ltd.
COMPANY DATA | INTRODUCTION
| PROPERTIES IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | 515 - 475 Howe Street Vancouver, B.C. Canada V6C 2B3 |
| Tel No.: | (604) 689-2882 |
| Fax No.: | (604) 684-5854 |
| Toll Free No.: | 1-877-325-3838 |
| Web Site: | www.greatquest.com |
| Corporate Email: | info@greatquest.com |
| Contact Person: | Willis W. Osborne |
| Position: | President |
| Traded Market: | TSX Venture Exchange |
| Traded Symbol: | GQ |
| Outstanding Shares: | 10,519,143 |
| Public Float: | 5,000,000 |
| 52 Week High: | $ 0.35 |
| 52 Week Low: | $ 0.18 |
| Present Price: | Click Here |
INTRODUCTION
Great Quest Metals Ltd. is a junior resource company with gold properties in Mali, West Africa and British Columbia,
Canada. Great Quest plans to start drilling in the Bourdala concessions in Western Mali, West Africa this year. The two target areas to be drilled include the TD zone in the Tieyiri Diarra concession and the Nanike Sodjigui area of orpaillage in the Blandinssou concession.
The primary goal of the management of Great Quest Metals Ltd. is to enhance shareholder value through the discovery of mineral deposits on carefully chosen, quality, grass-root properties or concessions, which have been acquired by the Company. Great Quest is an environmentally sensitive company with the policy of improving the jurisdiction in which it has operations through the hiring, when possible, of local workers.
PROPERTIES IN HAND
Great Quest acquired options on 14 quality concessions totaling 405 sq.km in Mali, West Africa, a mineral-rich, democratic country that remain vastly under-explored. Through the help from a top Malian geologist, Mr. Mahamadou Keita, Great Quest has acquired quality concessions and doing preliminary exploration.
(1) Bourdala Concessions - Mali, West Africa
The Bourdala concessions cover 80 sq.km. Initial work by Great Quest has uncovered a zone of quartz veining where gold
mineralization has been traced for up to 400 metres. Pit sampling returned values as high as 82.6 g/t gold. Drilling is necessary to determine the width of the zone and average gold values.
In the Nianike-Sodjigui eluvial placer area, pitting and soil sampling have identified two zones of mineralization. Assays on seven samples from four pits over a 125-metre length averaged 3.56 g/t gold with values up to 12.43 g/t. A new 10-to-15-metre wide quartz vein zone was recently discovered 330 metres to the southwest. Two 1.5-metre test samples from this zone assayed 0.32 and 65.40 g/t gold.
Update progress: A 1500 metre diamond drill program will start in early October on the Bourdala concession.
(2) Baroya Concession - Mali, West Africa
The Baroya concession, covering 8 sq.km, adjoins the concession covering Nevsun's recently acquired Segala deposit and is within 3 km of Nevsun's Tabakoto deposit. Three mineralized zones have been identified at Baroya; Baroya Nord, Baroya Central and Segala Extension. All three are drill ready.
At Baroya Nord, already been pits and two trenches dug over a 90 x 450-metre area within this zone produced a number of excellent gold assays including: 1.06 g/t over 2.5 m, 4.93 g/t over 6 m, 2.20 g/t over 3 m, 1.63 g/t over 6 m and 46 g/t over 3.2 m. Assays from two separate half-metre wide quartz veins produced results up to 19.6 and 29.4 g/t gold.
The Segala Extension is 260 metres long. Pitting and trenching assays included: 3.32 g/t gold over 1.5 metres, 1.43 g/t over 7.1 metres, 4.98 g/t over 2.4 metres, and 157 and 164 g/t from two veins in Pit PS7.
Update progress: The recent activity of Nevsun Resources Ltd. in the area of Great Quest's Baroya and Kenieba concessions is considered very positive for Great Quest. Nevsun has acquired an 80% interest in the Segala deposit adjacent to the Baroya concession, acquired the area between the Baroya and Kenieba concession, and on September 5, 2002 announced the results of a geological and mining review on the Tabakoto deposit for inclusion in the final feasibility study. Presently, the Baroya concession of Great Quest is drill-ready with three targets.
(3) Kenieba Concession - Mali, West Africa
The Kenieba concession, covering 32 sq.km, lies just 5.5 km southwest of the Tabakoto deposit. Selected assays and grab
samples taken from various locations along two dykes ranged from 40 to 10,464 ppb gold and averaged 2378 ppb.
Update progress: A program of geological mapping and soil sampling is planned.
(4) Baoule River / Winza Concessions - Mali, West Africa
Great Quest has an option on the 207 sq.km Baoule River concession and the 78 sq.km Winza concession for a total of 285 sq.km in the Filimana area in southwestern Mali. An extensive soil sampling program was completed in the winter, 2000 on the Winza concession, and the soil sampling was also completed over a grid in the northern part of the Baoule river concession.
Update progress: Great Quest is currently looking for a joint venture partner on the project. Work will take place either when a joint venture partner is found or when money is raised for this project.
(5) Taseko Property - British Columbia, Canada
Taseko, located 225 km north of Vancouver, B.C., covers the Empress area where a mineral resource of 11 million tons of
0.61% copper and 0.023 opt gold has been defined. A geologically similar mineral occurrence is found in the East zone, 1,200 metres east of the Empress area. Only three holes have been drilled here.
The Buzzer zone occurs 3,200 metres east of the Empress area. This consists of copper mineralization - gold mineralization in a porphyry copper setting.
The similar Buzzer West zone occurs west-southwest of the Buzzer zone within a series of copper soil anomalies which extend 2,400 metres west-southwest from the Buzzer zone.
Update progress: No work is planned for this property in 2003.
MANAGEMENT
Officers & Directors
Mr. Rudy de Jonge, Director
Mr. Victor J.E. Jones, Director
Mr. Mahamadou Keita, VP-Exploration & Director
Ms. Jennifer Nestoruk, Corporate Secretary
Mr. Willis W. Osborne, President & Director
NEWS UPDATE
On January 07, 2003, Great Quest Metals Ltd. announced the granting of a 90 day Autorisation d' Exploration on the 8 sq.km Niaragui concession, which is the most northerly of the concessions in the Bourdala area, Mali, West Africa. One area of orpaillage, trending in a southeasterly direction, has been test sampled, the preliminary result was encouraging.
On December 03, 2002, Great Quest Metals Ltd. announced the results from the initial 4 diamond drill holes on the Bourdala concessions in Mali, West Africa. The program was designed to test for gold mineralization in five separate zones of quartz veining and would have been considered a success if favorable results have been received from just one zone.
On October 24, 2002, Great Quest Metals Ltd. announced that after 4 1/2 years of acquisitions and preliminary exploration in Mali, West Africa, the Company will initiate its first diamond drill program on the Bourdala concessions on October 25, 2002. The program will be designed to test 5 targets or zones, all of which consist of multiple quartz veins with gold mineralization.
The first area to be drilled is the TD zone. This consists of a zone of quartz veining partly coincident with an area of orpaillage or pits dug by local miners in the search for and recovery of gold. The zone consists of high grade, northeasterly quartz veins with assays ranging from 3.4 to 82.6 grams per tonne gold and a second set of northerly veins with gold mineralization. The gold of drilling will be to determine the density of veining across the zone, the size of the zone and the grade of gold across the zone.
On September 17, 2002, Great Quest Metals Ltd. announced the completion of an agreement with Jamie Mathers for investors relation services. Mr. Mathers has 22 years of experience in the investment industry where he started as a floor trader, then head desk trader and finally as an investment advisor.
On September 06, 2002, Great Quest Metals Ltd. announced that it has closed the offering of 1,600,000 units announced June 21 and July 9, 2002 and raised $400,000. The proceeds of the Offering combined with existing capital will fund the Company's 2002 exploration program on its Mali gold concessions and property option payments related thereto and for general working capital.
On September 04, 2002, Great Quest Metals Ltd. announced the grant of 300,000 stock options, to directors and officers of the Company, at an exercise price of $0.30 for a term of five years, subject to regulatory approval.
On August 28, 2002, Great Quest Metals Ltd. announced the completion of the first program on the Sabakonkon zone, located in the western side of the TD concession, Bourdala property, Mali, West Africa. During the program geological mapping and soil sampling was completed over a 800 x 2400 metre area.