VANCOUVER, BC -- Willis W. Osborne, President of Great Quest Metals Ltd. (TSX Venture Exchange: GQ) is very pleased to announce the completion of an agreement on the 117 sq km Sepola concession, located west of and adjacent to the Company's Bourdala concessions, giving a total land package of 205 sq km in the area. Under the terms of the agreement, Great Quest has an option on a 95% interest in the Concession, subject to a 1% net smelter royalty for approximately $125,000 to be paid over a period of 7 years.
This acquisition is important for several reasons. The Concession covers an area west of and adjacent to the Sabakonkon and Bourdala Sud Ouest areas where the occurrence of gold mineralization is very close to the western boundaries of the claims. One drill hole in the Bourdala Sud Ouest area intersected 10 m of 3.92 g/t gold and 5 m of 8.63 g/t gold. The exploration team will now be able to determine whether the mineralization can be traced into the Sepola concession. The Concession also covers a 2 by 3 km. granitic intrusion with associated gabbro, which is the same age as intrusive rock near the Sadiola and Segala gold deposits. The gold deposits are thought to be related to intrusive activity. The Company, while working in the area, will be allowed the use of the large camp built by Hyundai Corp. Hyundai completed a total of 90,000 meters of drilling, largely on the Sepola concession.
A 90-day Autorisation d'Exploration has been granted on the Concession, and Great Quest will start a program there next week. One of the first objectives of the program will be to soil sample and map the area west of the Bourdala Sud Ouest and Sabakonkon areas to determine as to whether the mineralization in these areas extends into the Sepola concession. Subsequent work will include a study of the drill results to confirm the estimates of inferred, though low grade, resources in 3 separate areas and a mapping and geochem survey in and around the grantic intrusive.
ON BEHALF OF THE BOARD OF DIRECTORS
"Willis W. Osborne"
Willis W. Osborne