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%.
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.
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.
