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NQ Exploration extends zone at Carheil to the west with record 1,760 g/t silver grade

May 26, 2011 3:39 PM ETNQEXF
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NQ Exploration (CVE:NQE) said Thursday that it has expanded the Ag1 Zone at its Carheil silver project westward, with a record grade of 1,760 grams per tonne of silver.

The Quebec-based junior explorer reported the results of the sixth drill hole this year, hole CA2011-15, which intersected 1,760 g/t silver over 0.45 metres, and native silver at a vertical depth of about 450 metres, within an enriched zone that returned an average of 281.1 g/t silver, 0.81% zinc and 0.24 g/t gold over 6.3 metres.

In addition, the Ag1aa zone, which lies above the Ag1 zone, also returned encouraging results that enhance the potential of this under-explored target, said NQ.

A grade of 74 g/t over 13 metres, including 110.8 and 102.3 g/t Ag over 5.05 and 3 metres respectively, was intercepted at a vertical depth of 430 metres in the same hole.

"This new information enhances the understanding of the silver zones and confirms the spatial orientation of the mineralized zones, which show excellent vertical continuity," the company said in a statement.

"These additional results have boosted the company's confidence in the merit of continued exploration on this excellent silver showing."

The results of the remaining drill holes from the current program are still pending, and are expected to round out the data required to plan the next drilling campaign, scheduled to begin in mid-June.

NQ has a portfolio of 10 mining properties in the James Bay and Abitibi regions of Quebec. Shares of the company rose nearly 5% on Thursday to trade at $0.11 as of 1:09pm EST.

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