Queries Interquest busy on both sides of border

I heard that Interquest Resources is doing some work in Arizona. What’s the story? I.M. Toronto

Your information is quite right. Last summer Interquest Resources entered into an agreement with Stan West Mining Corp. whereby Interquest can earn a 50% interest in three patented lode mining claims and 39 unpatented mining claims in the Big Bug mining district of Yavapai Cty., Ariz.

The properties are about 3 miles to the southwest of the McCabe gold mine which is currently being developed by Stan West and where 750,000 tons of ore grading 0.35 oz gold and 2.0 oz silver per ton have been delineated.

No significant exploration or development work has been carried out on the property since the early years of this century when limited mining took place on two of the patented claims.

Under its agreement with Stan West, Interquest is funding an exploration program of up to $500,000(US), at least half of which will be spent before this March. Stan West will be the initial operator, after which a joint venture will be formed.

Geologists for both companies say they are encouraged by drill results to date on their 10,000-ft program. Some of the results include a 2.2-ft section which assayed 0.161 oz gold and 0.36 oz silver; a 0.7 ft section assaying 0.104 oz gold and a 2.1 ft section assaying 0.107 oz gold and 0.34 oz silver.

Among its other activities, Interquest is involved in a diamond drilling program in Canada on a 57-claim block in the Pickle Lake area of northern Ontario. The first stage of drilling has been completed with anomalous gold values intersected in all of the six holes.

The Pickle Lake claim block is located midway between Dome Mines’ Dona Lake discovery and St. Joe’s Muskeg desposit and is immediately adjacent to Lac Minerals’ Hasaga deposit.

Interquest trades on the Toronto Stock Exchange at about the 38 cents level. Its 52-week high and low are 85 cents and 25 cents , respectively.