Great Quest to Start Drill Program on Taseko Property in early July
VANCOUVER, BC -- Willis W. Osborne, President of Great Quest Metals Ltd. (TSXV: GQ; Frankfurt: GQM), is pleased to announce that the 2008 summer drill program on the copper-gold-molybdenum Taseko property, 225 km north of Vancouver, BC, will start in early July. The objective of the program is to increase the mineral resource in the Empress deposit and start building a mineral resource in the Granite Creek and Buzzer areas. The Company plans to drill-test four targets, which include molybdenum in the Granite Creek zone, copper-gold in and around the Empress deposit and copper-molybdenum-gold west of the Buzzer zone.
Molybdenum in the Granite Creek zone occurs in intensely altered rock where it has been intersected in two previous drill holes. Drill hole 91-49 intersected 0.029% Mo over 133 metres in 1991, and drill hole 07-60 intersected 0.027% Mo over 75 metres in 2007. The host rock for the molybdenum contains minimal magnetite, which would register as a magnetic low in a magnetic survey. A 2007 ground magnetic survey identified a 465 by up to 975 metre magnetic low east and southeast of the two holes. This area will be tested.
The Empress deposit, 150 metres south of the Granite Creek zone has a historical mineral resource of 11.078,000 tons of 0.61% copper and 0.023 ounces per ton gold. The deposit consists of 3 zones, all of which are open to the east in intensely altered volcanics. The Company plans to expand the mineral resource to the east. As the mineral resource 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 Company plans to advance the Empress deposit to a NI 43-101 compliant state
The Company also intends to drill-test an area just to the southwest of the Empress deposit where fragments containing copper mineralization, up to 7% copper, have been found.
Finally, Great Quest plans to test an area west of the copper-molybdenum-gold, porphyry copper, Buzzer zone from where a series of copper anomalies extends for 2,400 metres west of the Buzzer zone. Intrusive fragments similar to those on the Buzzer zone with disseminated copper and molybdenum have been found in the Buzzer West area, 500 metres southwest of the Buzzer zone, and also at the western extent of the copper soil anomalies. These areas will be drill-tested. 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