Quartz Mountain drills 3,418 metres of drilling at Jake Property, British Columbia

Quartz Mountain Resources Ltd. [TSXV-QZM; OTC PINK-QZMRF] has completed 3,418 metres of core drilling in seven holes at its 100%-owned Jake project, located 160 km north of Smithers, northern British Columbia. Core samples have been delivered to ALS Global for analysis. The goal of Quartz’s initial drill program and exploration strategy at Jake is to discover a significant porphyry copper-gold-silver deposit

“The completion of the 2024 drill program at Jake is a significant milestone for this project and for Quartz,” said Bob Dickinson, chairman. “Now that the targeted drill program is complete, a total of 1,400 core samples from the Jake drill holes have been delivered to the lab for analyses and we are targeting early September for the release of the assay results. Historical data suggests a significant opportunity for an important porphyry Cu-Au discovery, and we are confident this recently completed drill program will advance the Jake opportunity.”

A total of 1,400 core samples from the seven Jake drill holes have now been received by ALS Global in Vancouver for analyses. Drill holes JK24-01 to JK24-05 tested for a concealed copper-gold porphyry system, and JK24-06 and JK24-07 tested outboard epithermal mineralization potentially related to a porphyry centre. Results from these drillholes will be released once they are received from the lab, compiled and interpreted. The company is targeting early September for the release of the assay results.

As part of its commitment to responsible mineral development, Quartz is proud to provide economic opportunities for local and First Nation communities and looks forward to fostering new opportunities in the future.

The Jake Property is accessible by helicopter and close to the Minaret airstrip and historical logging roads which lead to mining support towns of Smithers, Fort St. James and Hazelton.

Mineralization at Jake is situated within a prominent rusty coloured gossan measuring 3.5 km long by 1.5 km wide. Within the gossan is north-trending dyke swarms that intrude into sedimentary rocks. The combination of extensive historical and recent exploration work outlined a very expansive altered area at Jake hosting epithermal and porphyry-style sulphide disseminations and veinlets containing Cu-Au-Ag-Zn-Mo and Re.

To delineate high-potential deposit targets within this large Jake mineral system for the recent drilling program, a series of modern surface exploration programs were completed in the period 2018-2023. This exploration work included airborne magnetic surveying, geological mapping, geochemical sampling/modelling and Induced Polarization (IP) surveying. These exploration surveys were designed to build on compelling historical data on the property developed by porphyry copper explorers, including Kennco, Canadian Superior, Cities Service, Placer Development and Teck Corp. Taken together this comprehensive Jake Project technical data base defined significant-scale epithermal precious metal deposit targets positioned above underlying porphyry copper-gold deposit targets. In July 2024, a seven-hole core drilling program was completed. The widespread drill holes were located on the side of a hill and intersected rock units stretching some 900 metres east-west and some 500 metres vertically.

The 100%-owned Maestro Project in central British Columbia lies adjacent to Highway 16, 15 km north of Houston and 50 km south of Smithers, providing year-round road access to the project and nearby infrastructure including, rail, hydroelectricity, and natural gas.

Since acquiring the property, Quartz has conducted comprehensive exploration programs, including soil/silt geochemical sampling, IP geophysics, airborne magnetic surveys, hyperspectral studies, detailed relogging of historical drill core, and assaying for gold, pulp samples derived from historical assaying of numerous core holes located across the Maestro property.

Quartz’s first ever two-hole drill program at the Prodigy Zone on the Maestro Property made an important new precious metal deposit discovery. Quartz drilling discovered a high-grade Au-Ag lode, hosted within an extensive epithermal Au-Ag system. The lode and the more disseminated precious metals, intersected by the holes are both hosted within a large and earlier deposited, Mo-Cu porphyry system.

Core hole PR-23-02 intersected 102 metres grading 2.22 g/t Au and 104 g/t Ag, including 12 m grading 1.23 g/t Au and 586 g/t Ag and 36 m of 5.73 g/t Au and 87 g/t Ag. The results indicate high potential for both bulk tonnage and underground high-grade mineralization. The discovery is open in multiple directions and at depth, promising significant further potential. Going forward the company will prepare detailed plans to delineate the Prodigy discovery and assess numerous other epithermal and porphyry copper targets located laterally to the Property’s Lone Pine Molybdenum deposit.

First drilling at Maestro has discovered a high-grade gold-silver lode within extensive precious metal mineralization all hosted within a large porphyry Mo-Cu system. At Jake drilling of 3,418 metres in seven core holes was completed in July 2024, with assays expected this September. Jake hosts a very large, altered mineral system with both epithermal precious metal and porphyry copper-gold geological characteristics.

Quartz Mountain is associated with Hunter Dickinson Inc.