🕐18.02.11 - 17:27 Uhr
ArrĂȘte de la Miniere Permits Received for the Tilemsi Phosphate Concessions
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Suite 515, 475 Howe Street
Vancouver, BC, Canada V6C 2B3
Tel: 604-689-2882 Website: www.greatquest.com
Fax: 604-684-5854 Email:
February 18, 2011
Arrte de la Miniere Permits Received
for the Tilemsi Phosphate Concessions
VANCOUVER, BC Victor J.E.
Jones, Chairman and CFO of Great Quest Metals
Ltd.
(TSXV: GQ; Frankfurt: GQM), is very pleased to report that the Company
has now received the Arrte permits, as required under Malian law, to
commence exploration field work on its Tilemsi Phosphate Project in Eastern
Mali.
These Arrtes were received pursuant to applications made following
the receipt of the Convention dEtablissement permits issued by the Ministry
of Mines on January 12, 2011 (GQ News - January 12, 2011).
Within the
framework of the 30 year Conventions, Arrtes provide renewable 3 year
exploration licences and important tax relief for exploration expenditures
and importing drilling equipment.
The Tilemsi Phosphate Project comprises
the Tin Hina and Tarkint Est concessions which together cover some 737 sqkm
prospective for phosphates.
The receipt of these Arrtes marks the formal approval for field work
mobilization said Mamadou Keita, the Companys Vice President Exploration,
based in Bamako Mali, and we can now authorize the mobilization of the
air-core drill rig into the country and initiate logistics for exploration
operations and drilling.
In preparation for the air-core drilling program the Company has just
completed a remote sensing data analysis which identified extensive showings
of apparent phosphate mineralization based on correlations with known
Company geological sampling reconnaissance (GQ News February 15, 2011).
The area highlighted by the remote sensing and prior sampling are priorities
for the multi-phase drilling and geological programs.
The first phase of
air-core drilling will include an estimated 1000 drill holes, pits and
geological reconnaissance over the targeted areas using the new remote
sensing findings and high resolution maps to assist field crews.
The
objective is an initial NI 43-101 compliant resource estimate, after which a
preliminary scoping study would be commissioned, along with further
drilling.
Great Quest holds an 88% interest in the 320 sqkm Tin Hina concession
located immediately to the south of the 417 sqkm Tarkint Est concession in
which Great Quest holds a 97% interest through an exploration agreement with
a private Malian company.
The Tilemsi valley is known for its natural
phosphate rock.
This first comprehensive approach to exploration and
development of these concessions has gained recognition within Mali for its
potential benefit on the Malian agricultural sector.
ON BEHALF OF THE BOARD OF DIRECTORS
OF GREAT QUEST METALS LTD.
Victor J.E.
Jones
Victor J.E.
Jones
Chairman
12g3-2(b) Exemption #82-3116
Investor Relations:
Standard & Poors Listed
George Butterworth: 604-689-2882
Trading Symbol: GQ Frankfurt Exchange: GQM
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The
statements that are not historical facts and are forward-looking statements
involving known and unknown risks and uncertainties could cause actual
results to vary materially from the targeted results.
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