THUNDER BAY, 06/10/13 -
QRS Capital Corp. ("QRS" or the "Company") (TSX VENTURE: QRS) is pleased to announce that it has filed a technical report on the Company's flagship Aurum Property. The report dated, May 10, 2013, was prepared by Terence Walker, M.Sc., P.Geo., an independent Consulting Geologist, and wasfiled on SEDAR on May 27, 2013.
The Aurum Property consists of 41 contiguous claims, 17 exploitation concessions and 24 exploration concessions totalling 8,908 hectares. The Aurum Property is situated within San Felix Fault and fold belt, 72 kilometres east-southeast of the city of Vallenar, Region III, Chile and 16 kilometres SW of
Teck Resources Ltd.'s Relincho porphyry copper - molybdenum deposit (Proven and Probable Reserves; 1.1 billion metric tons grading 0.41% copper and 0.021% molybdenum according to the
Teck Resources Ltd.'s Annual Information Form of March 15, 2012). The report also notes the good access and closes proximity to water and power on Aurum year round and access to the property by dirt road.
Conclusions
The report concludes that, "Based on the site visits to the Aurum Property, the data review and interpretation, the independent 2007 resource estimate of SRK Chile, classification of the current project area, as well as un-tested extensions of the central CTR ("Carmen Tabaco Resource") and the newly identified "East Mineral Belt", the author believes that the area holds good potential for significantly increasing the current copper oxide resource estimates. The deeper primary sulphide copper mineralisation below the CTR area is largely unexplored. The underlying IP anomalies however, suggest good potential to also develop sulphide copper resources below the oxides."
Recommendations
Mr. Walker recommends a two-phase drill program to further delineate the copper-silver potential of the Aurum Property.
Phase 1 is designed to evaluate the largely unexplored sulphide copper mineralization below the current CTR and further explore the Dolores Mine area with a view to establishing drill targets. The proposed Phase 1 exploration programs will involve 1,250 metres of drilling in the Carmen Main area and detailed geological mapping, rock and soil geochemical, IP and MAG surveys in the Dolores Mine area.
Phase 2 is designed to expand the historic mineral resource and delineate the size and continuity of the sulphide zones at Carmen Main target, drill test the Dolores Mine targets established in Phase 1 and further explore the Aurum II, L5000 West, Aurum IV and East Anomaly target areas. Proposed Phase 2 exploration programs will involve 4,000 metres of drilling in the Carmen Main target, 1,750 metres of drilling to test priority targets in the Dolores Mine area, detailed geological mapping, rock and soil geochemical testing, IP surveys in the Aurum II, L5000 West, Aurum IV and East Anomaly target areas. Preliminary metallurgical testing of drill core and environmental studies are also planned during Phase 2.
The estimated total cost of the proposed follow up exploration programs (more particularly described in the technical report) is US$3,642,700.
The above information has been prepared under the supervision of Mr. Terence Walker P.Geo., who is a "Qualified Person" for the purposes of National Instrument 43-101. Mr. Walker has reviewed the information in this press release and has verified the authenticity and validity of the data.
For further information regarding
QRS Capital Corp., see QRS Capital's disclosure documents on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
John Seaman
Chairman & CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about future, exploration results relating to the Aurum-Copper property, exploration plans for the Aurum-Copper property and the exploration potential of the Aurum-Copper property. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in the Company's disclosure documents. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Apex Capital Inc.
Brett Allan
416-907-4148
ballan@apexcap.ca
