TORONTO, ONTARIO -- (Marketwire) -- 06/07/11 -- QUEENSTON MINING INC. (TSX: QMI)(FRANKFURT: QMI) ('Queenston or the Company') is pleased to announce results from an additional 44 surface diamond drill holes (12,861 m) from the ongoing drilling program on the 100% owned Upper Canada property located in Gauthier Township, Kirkland Lake, Ontario. The drilling has expanded both the pit and underground resource potential and also resulted in the discovery of the new Northland Zone.
The new drill holes are not included in the recent, initial mineral resource announced on the property that included an in-pit indicated resource of 1,721,000 tonnes ('t') grading 1.88 grams per tonne ('g/t') (104,000 oz) and an in-pit inferred resource of 1.273,000 t grading 1.86 g/t (76,000 oz). The initial mineral resource also outlined an underground indicated resource of 238,000 t grading 4.25 g/t (33,000 oz) and an underground inferred resource of 3,622,000 t grading 4.78 g/t (557,000 oz). The mineral resource estimate was prepared in accordance with NI 43-101 by P&E Mining Consultants Inc. of Brampton, Ontario under direction of Qualified Person Eugene Puritch, P. Eng. For details of the mineral resource see Queenston news release dated May 4, 2011.
Assay results from the recent phase of drilling are listed in Table 1 and the hole locations are outlined on the plan accompanying this news release and also available on the Company's website (www.queenston.ca).
Highlights include:
-- 3.88 g/t Au over 22.3 m and 3.63 g/t Au over 14.6 m in hole UC11-251
-- 2.50 g/t Au over 24.4 m in hole UC11-248A
-- 1.69 g/t Au over 21.9 m in hole UC10-201
-- 1.44 g/t Au over 23.7 m in hole UC11-244
-- 1.54 g/t Au over 18.3 m and 1.08 g/t Au over 29.3 m in hole UC11-247
-- 1.85 g/t Au over 15.2 m in hole UC10-243
-- 0.72 g/t Au over 27.4 m and 8.02 g/t Au over 3.7 m in hole UC11-283
-- 3.74 g/t Au over 6.4 m in hole UC10-200
-- 1.59 g/t Au over 13.7 m in hole UC11-249A
-- 1.59 g/t Au over 12.8 m in hole UC11-250
-- 1.54 g/t Au over 21.0 m in hole UC11-235 'New Zone'
-- 0.55 g/t Au over 103.8 m in hole UC11-234 'New Zone'
-- 1.31 g/t Au over 14.6 m in hole UC11-232 'New Zone'
Charles Page, President and CEO of Queenston said, 'We continue to be pleased with the results at Upper Canada as drilling begins to extend the surface and underground resource potential. We are particularly excited with the new Northland Zone where a significant width of gold mineralization has been discovered on surface north of the previous mine workings. The mineralization at Upper Canada remains open and drilling will continue with four rigs focussed on building a larger resource on both the existing and new gold zones. Upper Canada is a key ingredient in the Company's goal of advancing the Kirkland East Project towards feasibility and ultimately production.'
Table 1. Assay Results from Upper Canada Drilling Program
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Hole # Section (ft) From (m) To (m) Interval (m) Au (g/t)
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UC10-199 65+00W 428.5 430.3 1.8 2.66
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443.2 444.1 0.9 4.76
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UC10-200 65+00W 253.3 259.7 6.4 0.77
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348.4 354.8 6.4 3.74
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including 350.2 352.0 1.8 10.95
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UC10-201 65+00W 157.0 178.9 21.9 1.69
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including 161.5 162.4 0.9 6.34
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UC11-220 12+00W 66.4 67.3 0.9 2.33
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UC11-226 8+00E 43.9 45.0 1.1 3.01
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UC11-229 9+00E 96.0 96.9 0.9 5.45
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244.1 245.9 1.8 1.86
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255.1 262.4 7.3 1.15
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UC11-231 67+00W 4.9 8.6 3.7 2.10
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136.6 139.3 2.7 1.40
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149.3 163.0 13.7 0.92
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UC11-232 67+00W 55.2 56.1 0.9 8.06
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232.6 247.2 14.6 1.31
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275.5 279.2 3.7 0.70
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UC11-234 64+00W 3.5 107.3 103.8 0.55
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UC11-235 64+00W 13.1 19.5 6.4 1.87
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121.0 132.0 11.0 0.76
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155.8 210.7 54.9 0.38
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287.4 308.4 21.0 1.54
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UC11-236 67+00W 33.8 64.0 30.2 0.81
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UC11-243 4+00E 74.1 75.9 1.8 2.38
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140.6 155.8 15.2 1.85
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UC11-244 4+00E 31.7 48.8 17.1 0.87
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121.0 144.7 23.7 1.44
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249.0 249.9 0.9 13.83
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UC11-245 4+00E 72.3 89.6 17.3 0.74
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183.8 184.7 0.9 3.36
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UC11-246 4+00E 24.4 33.9 9.5 1.33
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42.7 45.9 3.2 2.55
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75.9 77.7 1.8 2.05
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UC11-247 1+00E 75.3 93.6 18.3 1.54
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134.7 164.0 29.3 1.08
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188.1 192.7 4.6 2.04
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UC11-248A 1+00E 51.2 56.8 5.6 1.07
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106.7 131.1 24.4 2.50
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including 118.6 125.6 7.0 6.57
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UC11-249A 1+00E 51.2 53.0 1.8 2.14
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72.2 83.8 11.6 1.04
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120.4 134.1 13.7 1.59
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including 125.9 126.8 0.9 14.56
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215.0 221.4 6.4 0.77
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UC11-250 1+00E 7.3 11.0 3.7 0.88
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29.9 42.7 12.8 1.59
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106.4 108.2 1.8 1.41
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UC11-251 55+00W 623.9 646.2 22.3 3.88
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including 626.7 633.4 6.7 10.67
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756.0 770.6 14.6 3.63
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UC11-255 10+00W 263.4 265.2 1.8 4.20
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UC11-256 10+00W 59.2 60.0 0.8 21.44
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205.1 214.3 9.2 1.10
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UC11-257 10+00W 107.6 112.2 4.6 1.17
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135.0 139.6 4.6 1.08
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UC11-258 9+70W 32.3 38.1 5.8 3.13
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including 32.3 33.2 0.9 16.51
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UC11-260 8+00W 244.4 257.5 13.1 0.46
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303.9 308.5 4.6 3.19
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UC11-261 8+00W 67.1 68.6 1.5 5.83
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96.0 102.4 6.4 0.64
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UC11-262 5+00W 60.7 68.3 7.6 0.67
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UC11-270 20+00W 147.5 162.1 14.6 0.55
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203.0 209.4 6.4 0.95
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UC11-271 20+00W 109.1 110.0 0.9 1.64
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UC11-272 20+00W 39.3 48.4 9.1 0.80
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UC11-282 25+00W 115.5 118.2 2.7 2.21
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134.1 138.0 3.9 0.74
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UC11-283 25+00W 115.2 126.1 10.9 0.56
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164.6 192.0 27.4 0.72
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294.4 309.0 14.6 0.62
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337.4 341.1 3.7 8.02
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UC11-284 25+00W 75.0 83.2 8.2 0.95
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UC11-285 5+00W 70.1 73.8 3.7 1.16
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214.9 220.0 5.1 1.61
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UC11-286 5+00W 77.4 82.6 5.2 0.46
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UC11-287 5+00W 47.5 56.1 8.6 0.80
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Notes: The mineralized intervals reported in this news release represent
core length. Holes UC11-218, -219, -227, -228, -230, -259, -263 and -264
encountered no significant values. Assays are not complete for holes UC11-
233, -237, -238, -239, -240, -241, -242, -252, -253, -254, -265 to -269 and
-273 to -281. Assay results for drill holes up to UC10-198 and infill to
those reported in this news release were reported in previous news releases
dated October 1, 2009, February 16, 2010, May 10, 2010, September 7, 2010,
November 30, 2010 and March 10, 2011.
Upper Canada was an important past gold producer in the camp from 1936 to 1972. During that period the mine produced 1.5 million ounces of gold at an average grade of 11 g/t from narrow, steeply dipping 2 m wide veins. The mine closed in 1972 due to the low gold price and there remains beyond the limits of the existing NI 43-101 mineral resource an historic measured and indicated resource of 774,000 t grading 7.7 g/t (approximately 192,000 ounces). The historic mineral resources at Upper Canada were reviewed by Roscoe Postle and Associates in a report prepared for the Company in 1995 and should not be relied upon as the report is not compliant to NI 43-101 and the resource has not been verified by a Qualified Person.
The new drilling was successful in extending both the surface pit and underground mineralization and discovered a new gold zone. Seventeen holes were drilled along the eastern and central portion of the South Branch (main pit horizon) reporting significant intersections of 2.5 g/t Au over 24.4 m (hole UC11-248A), 1.85 g/t Au over 15.2 m (hole UC11-243), 1.54 g/t Au over 18.3 m (UC11-247), 1.59 g/t Au over 13.7 m (hole UC11-249A) and 1.59 g/t Au over 12.8 m (hole UC11-250). This infill drilling enhances and begins to extend the pittable mineral resource in this area of the deposit. Sixteen holes were drilled along the North Branch encountering new mineralization east of the Brock shaft including 1.10 g/t Au over 9.2 m (hole UC11-256), 3.13 g/t Au over 5.8 m (UC11-258), 1.61 g/t Au over 5.1 m (hole UC11-285) and 3.19 g/t Au over 4.6 m (hole UC11-260). The North Branch continues to remain open both to the East and West. At the deeper C Zone, a single hole (UC11-251) extended this underground zone to west intersecting two separate intervals assaying 3.88 g/t Au over 22.3 m (including 10.67 g/t Au over 6.7 m) and 3.63 g/t Au over 14.6 m. Three new holes have extended the South Branch a further 500 m to the west of the existing resource with significant results of 3.74 g/t Au over 6.4 m (hole UC10-200) and 1.69 g/t Au over 21.9 m (hole UC10-201). A new gold zone (Northland) located parallel and 900 m northwest of the open pit resource was discovered by the new drilling. Six holes were completed at the Northland Zone with five intersecting significant values including 0.55 g/t Au over 103.8 m (hole UC11-234), 1.54 g/t Au over 21.0 m (hole UC11-235), 1.31 g/t Au over 14.6 m (hole UC11-232), 0.81 g/t Au over 30.2 m (hole UC11-236) and 0.92 g/t Au over 13.7 m (hole UC11-231). The mineralization at Northland extends on surface and is open to the east, west and to depth.
Both shallow and deeper drilling will continue targeting both the open pit and deeper underground mineralization employing 4 drill rigs. The focus will continue along the main South Branch to further define and extend the open pit resource and the deeper C Zone. On the new Northland Zone drilling will begin to step-out both east and west along trend and a program of stripping and trench will expose the mineralization at surface. Drilling will also begin to test the potential for a bulk underground resource targeting the Upper L Zone. Past production from this zone totalled 439,000 ounces of gold from approximately 1,300,000 t grading 11 g/t. The L Zone dips vertically and there remains a mineralized envelope measuring up to 40 m thick adjacent to the 2 m wide vein zone historically mined. If drilling can prove continuity a potentially large tonnage underground mining scenario may exist at Upper Canada.
Quality Control
The design of the Queenston's drilling programs, Quality Assurance/Quality Control and interpretation of results is under the control of Queenston's geological staff including qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. The Upper Canada project is supervised by Queenston's Senior Geologist, Frank Ploeger, P.Geo. A detailed review of Queenston's QA/QC procedures is filed in the 2010 Annual Information Form on SEDAR. The drill core is logged and split with half-core samples shipped to Swastika Laboratories of Swastika, Ontario and analyzed employing the appropriate gold fire assaying technique. For QA/QC purposes the Company as well as the lab submits standards and blanks every 25 samples. Approximately 5% of sample rejects and/or pulps are sent to other laboratories for check assaying.
This news release was reviewed by Queenston's Vice President Exploration and QP, William McGuinty, P.Geo.
About Queenston
Queenston is a Canadian mineral exploration and development company with a primary focus on its holdings in the historic Kirkland Lake gold camp that comprises 235 km2. Late in 2010 the Company entered into a strategic alliance with Agnico-Eagle Mines Limited with the objective of advancing its key, 100% owned gold projects (Upper Beaver, Upper Canada, McBean, Anoki and Bidgood) at the Kirkland East project towards feasibility and ultimately production. The Company has working capital of over $70 million no debt and a fiscal 2011 exploration budget of $25 million.
Forward Looking Statements
Except for historical information this News Release may contain certain 'forward looking statements'. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the Company's expectations and projections. A more detailed discussion of the risks is available in the 'Annual Information Form' filed by the Company on SEDAR at www.sedar.com.
Contacts:
Queenston Mining Inc.
Charles E. Page, P. Geo.
President and CEO
(416) 364-0001 (ext. 224)
Queenston Mining Inc.
Hugh D. Harbinson
Chairman
(416) 364-0001 (ext. 225)
Queenston Mining Inc.
Andreas Curkovic
Investor Relations
(416) 577-9927
Queenston Mining Inc.
Ann Gibbs-Baines
Investor Relations
(416) 627-8872
Info@queenston.ca
www.queenston.ca
