VANCOUVER, BC - Willis W. Osborne, President of Great Quest Metals Ltd. (TSX-V: GQ; Frankfurt: GQM), is very pleased to announce the signing of an option agreement by its wholly owned Malian subsidiary to acquire the 24 square kilometre Sanoukou gold concession (the Concession), which is south of and adjacent to the Kenieba gold concession in western Mali. The Kenieba concession and two other concessions previously held by the Company, south and adjacent to the Tabakoto-Segala concessions of Avion Gold Corporation, were recently sold to Avion for 4.35 million dollars.
Mamadou Keita (M.Sc.Geo), Vice President of Exploration, has formerly worked on parts of the Concession and advised the orpailleurs, or hand miners, where to dig for the gold. Mr. Keita reports the existence of three zones of hand dug pits known as orpaillage. The most western of the three zones has three sections. From north to south, they are the Findikalato, Krouguedaba and Dansilato zones or orpaillage, and they appear to extend for over 6,000 metres within the Concession. The two other zones of orpaillage, to the east, are known as the Bantankoto and Fougala.
Mr. Keita reports that gold has been found in several sets of quartz veins in and around felsitic dykes within some of the areas of orpaillage. Great Quest plans to start a program of geological mapping and rock and soil sampling immediately in order to map the geology in areas of orpaillage and prepare for drilling.
Under the terms of the option agreement, to earn a 95% interest in the Concession, the Company must pay approximately $137,000 over 4 years and perform the necessary work to keep the Concession in good standing. The Convention d'Etablissement permit has recently been granted, and the Company is awaiting the granting of the Arrête de la Miniere permit.
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST METALS LTD.
Willis W. Osborne
12g3-2(b) Exemption #82-3116
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Trading Symbol: GQ
Frankfurt Exchange: GQM
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