VANCOUVER, BC - Willis W. Osborne, President of Great Quest Metals Ltd. (TSXV: GQ; Frankfurt: GQM), is pleased to announce the successful completion of the 2007 drill program on the copper-gold-molybdenum Taseko property, 225 kilometres north of Vancouver, BC. The program was focused on the Empress deposit and on the Granite Creek zone, 190 metres to the north of the Empress deposit. The objective of the program was to define the trend of mineralization as well as geological setting in preparation for a much larger, 30-hole program in 2008.
The first objective of the program was to establish the trend of molybdenum mineralization and of copper mineralization in the Granite Creek zone to guide drilling in 2008. Three holes each were drilled northwest, north and northeast of Hole 91-49, a hole drilled in 1991, which intersected 133 metres of 0.029% molybdenum followed by 89 metres of 0.23% copper and 0.007 ounces per ton gold over the interval from 53 to 275 metres. It appears from visual observation that Hole 07-58, 70 metres northeast of Hole 91-49, intersected significant widths of variable copper mineralization. Hole 07-59, 61 metres north of Hole 91-49, intersected several basic dykes and some copper mineralization in granitic rock. It appears from visual observation that Hole 07-60, 70 metres northeast of Hole 91-49, intersected a significant width of variable molybdenum mineralization. Copper mineralization was intersected at the end of this hole.
The second objective of the program was to better define the limit of copper-gold mineralization to the northwest of the Empress deposit. Hole 07-61, drilled in the northern area of the Empress deposit, intersected a major fault. It is thought that this fault, which strikes approximately 70º, cuts off mineralization to the northwest. Hole 07-62 was drilled at the same site as 07-61 but drilled at an angle of -65º to the east. This hole intersected copper mineralization similar to that of the Lower North Zone. To test the theory that no mineralization occurs northwest of the fault, Hole 63-07 was drilled 60 metres west of Hole 07-62. This hole intersected little copper mineralization. The 2008 program will consist of drilling to the east for the extension of the three zones that make up the Empress deposit. Assay results on the drill samples are expected from the ALS Laboratory Group in the second week of January.
In 1991, a pre-feasibility study on the Empress deposit by James Askew and Associates, Inc., Mining, Geological and Geochemical Engineers estimated in situ resources of 11,078,000 tons of 0.61% copper and 0.023 ounces per ton gold, at a cut-off grade of 0.40% copper using prices of $1.00 per pound copper and $400 per ounce gold. The study was commissioned by ASARCO Incorporated, Great Quest's joint partner at the time. As that study predates NI 43-101, it must be declared that the potential quantity and grade is conceptual in nature; there has been insufficient exploration to define a mineral resource; and it is uncertain that further exploration will result in the target being delineated as a mineral resource.
The 2007 program is expected to add to the known mineralization in both the Empress deposit and Granite creek zone and will enable drill targets and plans for 2008 to be defined. In addition in 2008 the Company plans to test the Buzzer and the Buzzer West zones. The Buzzer zone, 3,900 metres west of the Empress deposit, is a porphyry copper-molybdenum-gold zone outlined from earlier exploration and drilling programs.
The Company will be compiling all prior data on this project together with the assay results and geological interpretation of the 2007 program as preparation for a scoping study on the project. The Company intends to engage outside consultants to assist with formulating of the study and to upgrade the resource on the several zones to NI 43-101 compliance.
Great Quest is an exploration company with a focus on copper-gold-moly in BC and gold in Mali, West Africa, where plans for continued work on its Kenieba and Bourdala gold concessions is planned.
Vangeochem Lab of Vancouver completed the analysis of the samples in 1991 which consisted of FA-AA for gold and ICP for the other elements. Ellen MacNeill (P.Geol), the Qualified Person pursuant to NI 43-101, has reviewed the contents of this news release.
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST METALS LTD.
"Willis W. Osborne"
Willis W. Osborne
For additional information please contact:
George Butterworth: +1 604-689-2882
Toll Free: 1 877-325-3838
12g3-2(b) Exemption #82-3116
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The TSX Venture Exchange has neither approved nor disapproved the information enclosed in this release. The statements that are not historical facts and are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from the targeted results.