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PHASE ONE DRILL PROGRAM DOUBLES PROVEN, PROBABLE AND INFERRED GOLD RESERVES TO 435,000 OUNCES OF GOLD WORTH MORE THAN $155,000,000

PHASE ONE DRILL PROGRAM DOUBLES PROVEN, PROBABLE AND INFERRED GOLD
 RESERVES TO 435,000 OUNCES OF GOLD WORTH MORE THAN $155,000,000
 CARLSBAD, Calif., Nov. 18 /PRNewswire/ -- Golden Quail Resources Ltd. (NASDAQ: GQRVF) today reported the completion of Phase One of a 13,000-foot drill program on its San Bernardino County, Calif. project. The proven, probable and inferred gold reserves have been expanded by this latest drilling to over 3.7 million tons grading 0.12 ounces of gold per ton, or 435,000 ounces. Permits have been obtained to commence Phase Two of a 15,000-foot drill program to both extend the ore body to the south and explore a parallel structure to the west. The company geologists believe that the main zone now being drilled extends to the south and that a parallel structure to the west has great exploration potential. Recent drill holes uncovered enriched mineralization averaging over 100 feet in width and showing impressive assay grades to both the north and south.
 A pre-feasibility study and related efforts to advance the project to the production stage is planned as part of Phase Two.
 -0- 11/18/91
 /CONTACT: Michael A. Schaffer, president of Golden Quail Resources Ltd., 619-438-3300/
 (GQRVF) CO: Golden Quail Resources Ltd. ST: California IN: MNG SU: SE-KJ -- SD005 -- 4589 11/18/91 15:56 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 18, 1991
Words:223
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