Questcorp (CSE: QQQ) Gains 20% to $0.21 Per Share
We are at the point of the cycle where earlier stage gold exploration stocks start coming into play for the first time in many years…
On Thursday evening, NIA suggested Questcorp Mining (CSE: QQQ) at $0.175 per share as its latest brand-new gold stock suggestion.
QQQ gained by 20% on Friday to $0.21 per share on strong volume of 1.35 million shares. Its current market cap is only CAD$14.762 million or USD$10.675 million!
We love polymetallic CRD projects and QQQ is drilling four separate high-grade CRD targets at its La Union Project in Sonora Mexico:
- Union Main Mine Area – The program will use angled drill holes to test limestone and other carbonate stratigraphic hosts within the Clemente Formation, with the potential to reach the underlying Caborca Formation. These units are considered the primary hosts for replacement-style mineralization.
- North Union Mine Area – The initial focus of the program will be on testing structural interpretations. Additional drilling is anticipated following this first phase, as results will help guide future drill testing of areas with past mining activity and various structural orientations.
- Cobre Mine Area – The Clemente Formation is the primary host unit, and structural features combined with areas of past mining provide multiple target zones. Drilling will begin with an initial stratigraphic test hole to help orient around the thickness of the host unit and extend into the lower Caborca Formation, which is also a favorable host for CRD-style mineralization.
- Central Union Area – Structural targets, as possible mineralization feeder zones, are a key focus in this past mining manto area. There are extensive additional target zones in the area, and this initial orientation drilling will provide vectoring for the next stage of drilling and further study of the Clemente Formation, and possibly into the Caborca Formation as currently interpreted.
La Union is well positioned for near-term exploration success, with targets that include both oxide and deeper sulfide mineralization. The exploration target focus is for a large potential gold discovery that expands from previous smaller scale mine operations on the property. La Union was operated during the 1950s by Penoles Mining Company and targeted chimney and manto-style within the upper oxide zones and produced approximately one million tons of high grade, polymetallic oxides averaging 7-20 g/t Au, 300 g/t Ag, 10-20% Pb and 5% Zn.
These grades are exceptional, and drilling will test both shallow mineralization and continuity at depth. The La Union Project was originally identified through exploration work in the western Sonora Gold Belt, conducted in collaboration with AngloGold Ashanti Limited, Centerra Gold Inc., and Hochschild Mining Plc.
QQQ is drilling at La Union right now. NIA's North Peak Resources (TSXV: NPR) is awaiting drill permits and will begin drilling its own CRD targets in Nevada shortly!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA has received compensation from QQQ of US$30,000 cash for a three-month marketing contract. NIA’s President has purchased 60,000 shares of NPR in the open market and intends to buy more shares. NIA has received compensation from NPR of US$50,000 cash for a six-month marketing contract and previously received US$50,000 cash for a six-month marketing contract which has since expired. This message is meant for informational and educational purposes only and does not provide investment advice.
