Questcorp Mining (CSE:QQQ) is continuing its drilling program at the La Union Project in Mexico, with approximately 25% of the program completed to date.
The company has completed 300m of the planned 1,200 to 1,500m program. Drilling is testing the carbonate-hosted replacement deposit-style of mineralisation, with gold associated with mantos, chimneys, and along structural zones.
The drill targets include more than four different areas, beginning with this early-stage stratigraphic and orientation phase of drilling exploration aimed at evaluating the scale of alteration and indications of a mineralised system.
Follow-up drilling is planned and can be expanded based on initial results which will help confirm the stratigraphy, lithologies, and structural features allowing for improved modelling and next-stage discovery targeting.
Earlier this year, Questcorp entered into a definitive option agreement with Riverside Resources (TSX-V:RRI) to acquire the La Union Project.
As part of the deal, Questcorp issued shares to Riverside, making the company a shareholder in the company. With funding provided by Questcorp, an initial C$1 million ($1.12 million) exploration program is now underway.
The company notes this marks the first of a larger C$5.5 million work commitment, contingent on exploration results and Questcorp’s continued participation.
The La Union Project, covering 2,520.2 hectares, is a carbonate replacement deposit hosted by neoproterozoic sedimentary rocks overlying crystalline paleoproterozoic rocks of the caborca terrane.
Questcorp Mining is a Canadian mineral explorer focused on acquiring and discovering mineral properties on Vancouver Island, British Columbia.
Write to Aaliyah Rogan at Mining.com.au
Images: Questcorp Mining
