FULL DISCLOSURE: Canacom Group is long the equity of Questcorp Mining.
Questcorp Mining (CSE: QQQ) on Tuesday reported a string of high grade gold, silver and base metal hits from the Phase 2 surface program at its La Union project in Sonora, Mexico, setting the table for a fully funded drill campaign slated to begin in early summer.
The standout result came from inside the historic La Union Mine, where chip channel sampling returned 2.9 metres averaging 20 g/t gold and 1.83% zinc, including a 0.6 metre interval grading 91.7 g/t gold. Of 23 samples received from the zone, six exceeded one g/t gold, 12 had in excess of 20 g/t silver, and eight returned zinc values above 1%.
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At Union Norte, underground sampling delivered some of the program’s most striking silver numbers, with one interval grading 1,827 g/t silver alongside 4.25 g/t gold, 3.01% lead and 6.89% zinc over a metre. Multiple over limit assays remain pending. The El Creston target also produced notable results, headlined by a selective sample of 10.03 g/t gold, more than 100 g/t silver, and 8.06% lead.
WATCH: Gold is Not Done | Saf Dhillon – Questcorp Mining
Reconnaissance work alongside the detailed sampling outlined three new target areas, Javalí, La Negra and Ali Hill, broadening what management is now framing as a district scale opportunity. Early sampling at Javalí, characterized as a possible low-sulphidation epithermal vein system in limestone-dolomite host rocks, returned values as high as 37.3 g/t gold and 980 g/t silver.
The Phase 2 program, run in partnership with Riverside Resources (TSXV: RRI), has paired channel sampling with district scale structural reinterpretation and an expanded aeromagnetic drone survey announced earlier this spring. That integrated dataset is now being used to refine drill targeting.
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Permits are in hand, site access is secured, and both a drill contractor and geophysical service provider have been engaged.
READ: Discovery at Luis Hill Prompts Acceleration of Phase 2 Program for Questcorp
Today’s results follow an April update in which Questcorp accelerated the Phase 2 timeline after early work at the Luis Hill target intersected 42 metres grading 0.3 g/t gold, a result the company said pointed to a Carlin-type system and a larger mineralized footprint than previously modelled. The current program builds on a prior chip channel sample of 20.2 g/t gold over 30 metres at the Union Mine that anchored the follow-up campaign.
President and CEO Saf Dhillon said the latest results validate La Union as a “highly prospective, district-scale opportunity,” with consistent high-grade mineralization across multiple zones and new targets expanding the project’s footprint ahead of drilling.
“With a fully funded drill program imminent, we are entering a catalyst-rich phase focused on unlocking the broader value potential of this system,” said Dhillion
Questcorp Mining last traded at $0.125 on the CSE.
FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive is long the equity of Questcorp Mining. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
