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Queenston Intersects New Gold Zone at the Rand Property,
Kirkland Lake (including 8.4 g/t Au over 22.6 m)
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TSX: QMI
TORONTO, ONTARIO--(Dec. 1, 2011) - QUEENSTON MINING INC. (TSX:QMI) (OTCQX:QMNMF) (FRANKFURT:QMI) ("Queenston or the Company") is pleased to announce that diamond drilling has intersected high-grade gold mineralization on the 100% owned Rand Property outlining a new gold system on the western portion of the Companys holdings in the Kirkland Lake Gold Camp, Ontario.
Highlights
8.4 g/t Au over 22.6 m (including 14.6 g/t Au over 1.1 m and 44.5 g/t Au over 3.6 m) (KGR11-12)
6.2 g/t Au over 7.0 m (including 20.0 g/t Au over 2.0 m) (KGR10-01)
11.6 g/t Au over 2.0 m and 8.9 g/t Au over 1.0 m (KGR11-07)
1.3 g/t Au over 6.5 m and 9.4 g/t Au over 0.9 m (KGR11-06)
8.1 g/t Au over 1.0 m (KGR10-01W1)
Charles Page, President and CEO of Queenston said, "We are pleased with the results from the Rand property where recent drilling has identified a new style of gold mineralization. The best hole of the program, KGR11-12, targeted the eastern portion of the mineralized corridor intersecting high-grade mineralization that remains open to the east and to depth. In 2012 in addition to advancing our Upper Beaver Project towards underground development and feasibility, we also plan to continue the aggressive exploration on our inventory of known gold deposits and begin testing a variety of new targets in the camp. Our exploration budget for 2012 is $25 million and the Rand property represents one of the new target areas".
The drilling targeted favourable stratigraphy below the historic Rand gold mine located in the eastern portion of Teck Township where since 2010 the Company has completed 15 holes plus 2 wedges (17,050m).
The assay results from the drilling are listed in Table 1 accompanying this news release.
To view Figure 1, "Longitudinal Section Rand Property", please visit the following link:
ALBITITE ZONE DISCOVERY
The drilling has discovered a large alteration zone below the old mine workings on the Rand property. All holes intersected sediments and volcanics of the Timiskaming Group that are intruded by a number of narrow syenite porphyry dykes and wider, partially albitized syenite porphyries deeper in the holes. The gold mineralization as intersected to date is contained in altered albitized syenite with quartz vein zones containing minor chalcopyrite, galena and molybdenum. Drill holes KGR10-01, -10W1, KGR11-06, -07 and -12 form the core of the mineralized horizon that measures 400 m long and remains open to depth and to the east.
ABOUT THE RAND PROPERTY
The Rand property comprises 15 mineral claims located in the eastern portion of Teck Township. Between 1921-22 Ontario Kirkland Gold Mines sunk two shafts on the property, the #1 shaft and an internal winze to a depth of approximately 438 m and the #2 shaft to a depth of 137 m with production of 438 oz of gold reported in 1922. From 1922 to 1947 various parties completed further underground development and diamond drilling. In the early 1990s Battle Mountain Canada and Cyprus Canada completed 12 shallow drill holes testing geophysical anomalies. From 1994 to 2010 no work was completed on the property.
Table 1. Significant Assay Results from the Rand Drilling Program
Hole #
Section
From (m)
To (m)
Interval (m)
Au (g/t)
KGR10-01
103+00E
747.00
754.00
7.00
6.24
including
752.00
754.00
2.00
19.96
787.00
787.70
0.70
1.45
805.00
806.00
1.00
1.25
KGR10-01W1
103+00E
660.80
661.45
0.65
1.44
819.00
820.00
1.00
8.06
KGR10-02
103+00E
228.00
229.00
1.00
1.78
KGR10-02W1
103+00E
843.30
844.10
0.80
1.83
KGR10-03
102+00E
542.00
545.00
3.00
0.94
817.95
819.00
1.05
2.36
885.00
887.35
2.35
1.55
896.25
898.10
1.85
1.02
KGR11-05
103+50E
413.40
414.20
0.80
1.47
850.65
851.35
0.70
1.30
KGR11-06
103+50E
467.85
468.75
0.90
9.40
592.00
595.65
3.65
1.08
657.15
658.50
1.35
1.02
788.00
793.00
5.00
0.83
799.85
806.35
6.45
1.29
816.30
828.30
13.00
0.48
842.30
846.30
4.00
1.19
913.00
915.0
2.00
0.87
1150.50
1151.00
0.50
1.78
KGR11-07
103+50E
572.00
574.00
2.00
11.58
640.20
649.00
8.80
1.42
including
648.00
649.00
1.00
8.86
KGR11-09A
104+00E
468.00
469.40
1.40
2.96
KGR11-10
104+00E
530.70
532.70
2.00
1.62
KGR11-11
104+00E
579.00
580.00
1.00
2.32
KGR11-12
104+00E
341.00
342.00
1.00
