Quartz Mountain Resources Ltd. reports mineral exploration developments for its British Columbia project portfolio, led by the Maestro Project near Houston and the Prodigy gold-silver discovery. Company updates commonly cover diamond drilling, assay results, delineation work, and geological studies across epithermal gold-silver, porphyry gold, and copper-molybdenum mineralization.
News about QZMRF also includes capital-markets and project-positioning items, such as warrant exercises tied to private placements, U.S. OTC market status, and updates on the Jake Project north of Smithers. The company’s common shares trade on the OTCQX under QZMRF and on the TSX Venture Exchange under QZM.
Quartz Mountain has received a National Instrument 43-101 Technical Report on its Jake Porphyry Copper-Gold-Silver Property in northwest BC. The report indicates potential for significant mineralization in two areas, Jake North and Jake South. Historical drilling has shown promising results, including copper and gold intersections. The property covers 2,374 ha and is accessible by helicopter. A Phase 1 program is proposed, estimating $238,000 for further exploration. The Technical Report supports continued investment in the property for its mineral exploration potential.
Quartz Mountain has received a National Instrument 43-101 Technical Report from C.J. Greig & Associates on its Maestro Gold-Silver-Molybdenum-Copper Property in British Columbia. The report highlights exploration targets, particularly the Prodigy Zone, which shows potential for bulk tonnage gold and silver mineralization. Notable historical assays include 178m at 0.56 g/t Au and 18.8 g/t Ag. Recent airborne magnetic surveys and re-logging indicate significant exploration potential. The area benefits from good infrastructure, being adjacent to Highway 16 and nearby support towns.
Quartz Mountain Resources Ltd. announced the appointment of Robert Dickinson as Chairman and CEO, effective May 30, 2022. Dickinson, the largest shareholder and an experienced economic geologist, replaces Trevor Thomas, who remains a Director. Leonie Tomlinson is now President, and Matthew Dickinson becomes Vice President of Corporate Development. Quartz Mountain, focused on gold, silver, and copper projects in BC, emphasizes responsible mineral development. The leadership changes aim to enhance strategic direction at a critical time in the mining sector.
Quartz Mountain Resources has received approval from the TSX Venture Exchange to acquire the Jake Property, approximately 160km northeast of Smithers, BC, from United Mineral Services Ltd. The Company will pay UMS $200,000 in four tranches over 18 months for the acquisition, focusing on copper-gold porphyry potential. The deal includes a 100% interest in four mineral claims and an option for five adjacent claims from Electrum Resource Corporation, requiring a payment of $125,000 by July 2022 or over two years with commitments of $360,000. The claims are subject to a 2% NSR capped at $3 million.
Quartz Mountain Resources Ltd. has granted 1,955,700 stock options to a director, with an exercise price set at $0.20, the last closing price before the grant. The options will vest immediately and expire on January 11, 2032. This grant is in accordance with the company’s stock option plan and complies with TSX Venture Exchange regulations. Investors are advised to review risks associated with forward-looking statements connected to the company's operations, as detailed in their filings.
Quartz Mountain Resources Ltd. has entered a purchase agreement to acquire the Jake Property in British Columbia, targeting copper-gold potential. The deal involves a payment of $200,000 to United Mineral Services Ltd. in four equal tranches over 18 months, pending TSX Venture Exchange approval. The acquisition includes a 100% interest in four mineral claims and an option for an additional five claims. Funding for exploration will be sought. The company also plans to complete 43-101 Technical Reports for both Jake and the earlier purchased Maestro Property.
Quartz Mountain Resources Ltd. (TSXV:QZM)(OTC PINK:QZMRF) completed the acquisition of nine mineral claims near Houston, BC, for $105,000 in cash and 1,000,000 shares. This purchase is part of a deal with Impala Capital Corp., and the claims, previously drilled over 4000 meters, showed promising grades. The acquired property is subject to a 2.5% net smelter returns royalty, from which 1.5% can be bought for $1.5 million. The Company plans to compile existing data for a 2022 exploration program and technical report.
Quartz Mountain Resources Ltd. has entered a mineral claims purchase agreement for nine claims near Houston, BC, for CAD$105,000 in cash and 1,000,000 shares, pending TSX Venture Exchange approval. The claims come with a 2.5% NSR, which can be reduced to 1% for $1.5 million. No work commitments are required, but exploration awaits future financing. Forward-looking statements include expectations for completing a private placement and potential regulatory acceptance. Investors are advised to review filings on www.sedar.com.
Quartz Mountain Resources Ltd. has announced the sale of its 1% Net Smelter Return Royalty on the Quartz Mountain Gold Property in Oregon for US$150,000. The transaction involves an arms-length third party. This Royalty was acquired when Quartz Mountain sold the Gold Property to Seabridge Resources Inc. in 2001. The company believes the sale will provide financial flexibility for future projects. For further information, investors are encouraged to consult Quartz Mountain's filings on www.sedar.com.