These two mineral claims total 169 hectares and are located within the Company's 100%-owned Maestro Property located 15km north of the town of
Consolidation of the 2,309 -hectare
The
The North mineral claim was purchased from
Historical Resource Estimate at
Drilling of some 24,300 meters was completed historically in 49 holes at the porphyry molybdenum deposit on the
A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the issuer is not treating the historical estimate as current mineral resources.
Additional work needs to be done to upgrade or verify the historical estimate as current mineral resources. Quartz has not yet conducted any drilling on the
About Quartz
Quartz is associated with
Quartz is committed to the advancement of important scale, critical and essential mining assets while following responsible mineral development principles, including a mandate to employ best practice approaches in the engagement and involvement of local communities, and meeting rigorous environmental standards.
Contact:
Chairman
Tel: (604) 684-6365
Email: info@quartzmountainresources.com
Web: www.quartzmountainresources.com
Technical Report and Preliminary Economic Assessment of the
M+I includes 33.4Mt grading 0.092% Mo in measured category and 76.98Mt grading 0.079% Mo in indicated category.
The historical estimate used ordinary kriging constrained by grade domain and lithologic solid models. Only molybdenum grades were estimated. Assay grade distribution was evaluated statistically before compositing with no cutting or capping deemed necessary. Density measurements were made on 83 core samples; density was assigned based upon the median value for each lithologic domain. 'Best Fit" 10 m downhole composites were generated within a grade shell domain based on a 0.02% Mo cut-off grade. Semi-variograms were modeled in order to develop kriging parameters, search parameters and anisotropy. Block size was set at 20 x 20 x 10 m, and block grades estimated using three interpolation passes with increasing search distance. The model was validated by comparing to nearest neighbour estimated and composite grade distributions, swath plots and visual inspection of sections and plans. Classification as measured, indicated and inferred was based upon constraints including zone, drilling density and distance to nearest composite. The report states that classification was done in accordance with CIM Standards.
A preliminary open pit optimization was carried out in order to identify potential open pit resources. A number of Lerchs-Grossmann pit shell envelopes were generated by varying operating costs, metal prices and pit slope parameters. The 0.04% cutoff assumed a Mo price of
Cautionary Statement Regarding Forward-Looking Information.
This release includes certain statements that may be deemed 'forward-looking-statements'. All statements in this release, other than statements of historical facts are forward-looking-statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: the Company's projects will obtain all required environmental and other permits, and all land use and other licenses, studies and exploration of the Company's projects will continue to be positive, and no geological or technical problems will occur. Though the Company believes the expectations expressed in its forward-looking-statements are based on reasonable assumptions, such statements are subject to future events and third party discretion such as regulatory personnel. Factors that could cause actual results to differ materially from those in forward-looking statements include variations in market prices, continuity of mineralization and exploration success, and potential environmental issues or liabilities associated with exploration, development and mining activities, uncertainties related to the ability to obtain necessary permits, licenses and tenure and delays due to third party opposition, changes in and the effect of government policies regarding mining and natural resource exploration and exploitation, and exploration and development of properties located within Aboriginal groups asserted territories that may affect or be perceived to affect asserted aboriginal rights and title, and which may cause permitting delays or opposition by Aboriginal groups, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, and the risks and uncertainties connected with its business, investors should review the Company's home jurisdiction filings as www.sedarplus.ca and its 20F filings with the
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