Quartz Mountain updates Prodigy gold-silver discovery at Maestro property, British Columbia

Quartz Mountain Resources Ltd. [TSXV: QZM; OTCQB: QZMRF] reported 2,476 metres of drilling in five core holes have been completed to date as part of the company’s Phase 3 diamond drilling program at its Prodigy gold and silver discovery located within its Maestro property, central British Columbia. Two additional holes will be drilled within Phase 3, bringing the total amount drilled in the Phase 3 program to approximately 3,700 metres.

Assay results from all seven Phase 3 drill holes (PR25-07 through PR25-13) will be announced when received and compiled, likely in mid-September. To date, 694 split core samples have been sent from site to the ALS Canada laboratory in Vancouver for assaying. Following receipt and review of Phase 3 assay results, multiple sequential phases of drilling are planned during the remainder of 2025.

“With funding of $3,000,000 currently on hand our focus is on efficiently and effectively progressing delineation drilling of the Prodigy discovery on our Maestro property. Our technical observations indicate there are several overlapping gold, silver, molybdenum and copper mineralizing events that have resulted in potential for multiple high-grade vein and bulk tonnage style precious metal deposit targets across our Maestro property. Sequential drill programs are planned during 2025 to progress Quartz’s mission to discover and transact high value gold silver-copper projects that are coveted by major operators,” said Bob Dickinson, chairman.

Quartz also announced contracting Dr. Farhad Bouzari as an advisor to the company. Dr. Bouzari will complete detailed scientific studies at the Maestro site on the geology, alteration and mineralization, encountered in Phases 1, 2 and 3 of Quartz’s drilling programs. Dr. Bouzari is a key member of the Minerals Deposit Research Unit at the University of British Columbia and an economic geologist with more than 20 years of global experience in porphyry copper and allied deposit systems.

Phase 3 drilling was proceeded by Phase 2 drilling, consisting of 3,255 metres in four holes (PR25-03 through PR25-06) and Phase 1 drilling, which made the Prodigy discovery, consisting of 1,446 metres in two holes (PR23-01 through PR23-02). Drill results reported to date have discovered a significant new and highly mineralized system at Prodigy. Gold and silver mineralization in multiple zones has been cut by the assayed and reported drill holes from near surface, laterally for approximately 325 metres and to vertical depths of over 650 metres.

The focus of the current Phase 3 drill program is to continue delineation drilling aimed at expanding the extent of the mineralized system.

The Maestro Property completely covers the large Lone Pine molybdenum deposit and Quartz’s targeted, epithermal precious metals systems like Prodigy that potentially occur up to several kilometers outboard of Lone Pine. Quartz’s Phase 1 and Phase 2 drill holes, combined with results from ten historical core holes drilled in the period 2007-2011by a past operator have intersected a high-grade Au-Ag lode and also high-grade Ag-Au veins, with both styles of mineralization hosted within an extensive epithermal Ag-Au system

The Maestro Project is one of two key projects being developed by Quartz in British Columbia. The Maestro delineation drill programs follow initial scout drilling at the company’s Jake Project located north of Smithers. That drilling succeeded in making a new porphyry copper-gold discovery and acquisition of an entire new B.C. porphyry copper-gold district surrounding the Jake property.

The company owns 100% of the Maestro high-grade gold-silver project and 100% of the Jake porphyry copper-gold-silver project. Both projects are permitted by the British Columbia government for drilling activities with access to infrastructure and high potential for the development of substantial resources for significant future transactions.

Quartz is associated with Hunter Dickinson Inc. (HDI), a company with over 35 years of successfully discovering, developing and transacting mineral projects in Canada and internationally.

The Maestro Project, located in central British Columbia, lies adjacent to Highway 16, 15 km north of Houston and 45 km south of Smithers, providing year-round road access to the project and nearby infrastructure including, rail, hydroelectricity, and natural gas. Covering 2,309 hectares, it has a rich exploration history dating back to 1914, primarily focusing on the Lone Pine Mo-Cu porphyry deposit and not the precious metals potential of the surrounding area.

Since acquiring the property, Quartz has conducted comprehensive geochemical and geophysical surveys, including soil/silt sampling, induced polarization geophysics, airborne magnetic surveys, hyperspectral studies, detailed relogging of historical drill core and assaying for gold only, 976 pulp samples derived from historical assaying of numerous core holes located across the Maestro Property.

Quartz’s first ever drill test, on its Maestro property, a Phase One, two-hole drill program at the Prodigy Zone, discovered high-grade Au-Ag lodes and Ag-Au veins which are both hosted within an extensive epithermal Au-Ag system.

The Au lodes and Ag veins along with the more disseminated precious metals intersected by the drill holes are all hosted within a large and earlier deposited, Mo-Cu porphyry system. Quartz’s second 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 also 36 m of 5.73 g/t Au and 87 g/t Ag.

Drill results to date indicate high potential for both bulk tonnage and underground high-grade gold and silver mineralization. Delineation type drilling of the new Prodigy discovery at Maestro, is underway. It is expected that drilling at Prodigy will be consistently advanced in multiple stages during 2025. Mineralization remains open in multiple directions and at depth, promising significant further potential.

Mineralization at Jake is situated within a prominent rusty coloured gossan measuring 3.5 km long by 1.5 km wide. The combination of extensive historical and recent exploration work has 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.

A series of modern surface exploration programs were first completed by Quartz 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 technical database defined a significant-scale porphyry copper-gold deposit target which Quartz tested with 3,418 metres of drilling in seven holes during 2024. This maiden drill program successfully discovered a new porphyry copper-gold-silver system, wide open to expansion. Upon discovery, Quartz acquired a 100% interest in mineral tenures over an entire new BC porphyry copper-gold district surrounding the Jake property. The next milestone towards a transaction will be delineation drilling of the new Jake discovery, currently being planned to commence after successful delineation drilling being conducted at Maestro over 2025.