QGX Ltd fka QGX

[Frank Pembleton]

QGX Reports More Gold-Bearing Oxide/Gossan At Golden Hills, Mongolia
Monday April 28, 9:02 am ET


WATERDOWN, ONTARIO--QGX Ltd. (TSX Venture Exchange: QGX - News) reported today on further results from diamond drilling being carried out on its Golden Hills prospect in western Mongolia. The drilling was confined to a three km portion of the Central Valley Zone (CVZ), part of a seven km, east-west trending geophysical anomaly that remains open at both ends. The program consisted of fifteen diamond core holes (ending at Hole CVZ-022) to test the on-strike, eastern extension of the gold-bearing gossans drilled in the western end of the CVZ last October. Drill results in October included 48 m @ 3.8 g/t Au (CVZ-01) and 71.4 m @ 2.1 g/t Au (CVZ-02). (see map at http://www.qgxgold.com).

Highlights of the additional holes (see Table 1) include intercepts in oxide/gossan of:

 
 - 3.1 g/t gold over 16.4 m (64.0-80.4 m) in Hole CVZ-020; 
 - 2.0 g/t gold over 20.2 m (30.0-50.2 m) in Hole CVZ-021; 
 - 1.4 g/t gold over 40.0 m (22.5-66.5 m) in Hole CVZ-022, and 
 - 4.2 g/t gold over 11.9 m (8.1-20.0 m) in Hole CVZ-016 
 - 7.9 g/t gold over 7.7 m (61.4-69 m) in Hole CVZ-015 
 

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