Great Quest Metals Ltd
Wednesday, August 22nd, 2007
Willis W. Osborne, President of Great Quest Metals Ltd. is pleased to announce the latest results from the drill program on the Kenieba gold concession, western Mali, West Africa. The results are from drill holes on the Djambaye 1 gold zone, which is 285 to 460 metres east of the main Djambaye 2 gold zone, where most of the drilling thus far has taken place. The objective of the 2007 program on the Djambaye 2 zone has been to augment the 2006 mineral resource estimate on the zone and to test additional zones to determine whether drilling is warranted on any of these other zones. Below are the results of Holes KN 73-07 to KN 76-07 from the Djambaye 1 zone:
Drill Hole, Interval(m), Width(m) Gold g/t
KN 73-07 72.90-73.90 1.00 0.99
KN 74-07 44.20-50.50 6.30 0.87
KN 75-07 121.10-123.10 2.00 1.06
KN 76-07 38.60-44.30 5.70 2.81
Including 41.60-44.30 2.70 4.46
All of these drill holes, in addition to the previously reported KN 02-03, 37-06 and 38-06, drilled in 2003 and 2006, were drilled across the Djambaye 1 gold zone over a length of 484 metres. KN 02-03 intersected 29.80 m of 0.66 g/t gold; KN 37-06 intersected 7.90 m of 8.02 g/t gold; and KN 38-06 intersected 3.10 m of 0.85 g/t gold. So far the Djambaye 1 gold zone has been traced for 3,477 metres on the surface, so only 14 percent of the known strike length has been tested. The positive results from the initial drilling on the Djambaye 1 give sufficient encouragement to the possibility that further drilling will enable the Company to add mineral resources from Djambaye 1 to that already established in the parallel Djambaye 2 gold zone.
A very preliminary 43-101 mineral resource study on the Djambaye 2 gold zone was conducted last fall by Carl Verley (P. Geol.). This study, focused mainly on vein structures over a length of 1,100 metres and to a depth of 100 metres along the zone, defined an inferred mineral resource of 928,787 tonnes or 4.48 grams per tonne gold or 133,882 ounces per tonne gold. No estimate was made of lower grade, bulk-mineable resources.
The Djambaye 2 zone has now been drilled over a length 2,060 metres with the deepest intersection of the zone at 160 metres. The pattern of drilling consists of cross-sections every 100 metres. An update to the mineral resource study is expected this autumn.
The Djambaye 2 and Djambaye 1 gold zones are characterized by high-grade gold shoots within lower grade intervals. Both zones remain open to the north, south and to depth. Both zones will be a main focus of drilling during the next program following the rainy season. It is anticipated that subsequent drilling on both of the zones should add to the mineral resource.