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Vancouver, British Columbia--(Newsfile Corp. - June 2, 2022) - Queensland Gold Hills Corp. (TSXV: OZAU) (OTCQB: MNNFF) (FSE: MB3) ("Queensland Gold" or the "Company") is pleased to announce the completion of the inaugural drill campaign at our Big Hill property, located in the historic Talgai Goldfield of Queensland, Australia. At total of 1457 metres of reverse circulation ("RC") drilling was completed in 11 holes. All samples have been shipped to the analytical lab (ALS Global - Brisbane) for assaying, with results pending.
The objective of the drill program was to gain deeper understanding of the nature and location of the feeder systems beneath the historical workings of the Queenslander mine. All drill holes intersected the Queenslander vein system, providing sufficient samples to determine the continuity and tenor of mineralization approximately 100 metres down dip from the base of historical workings. Specifically, mineralization was characterized by variably developed quartz veining associated with sericite and pyrite with some arsenopyrite alteration. The vein geometry changes from sub vertical, in the area of historical workings, to dip approximately 70 degrees to the south at depth. The Company looks forward to receiving the assays to better understanding the mineralized veining identified under the historic workings.
Queensland Gold Hills CEO and Director, Blair Way, commented: "The drill program went very well and, as expected, we encountered mineralization below the historical workings where we were targeting exploration. We were able to complete the program on a shorter timeline than was anticipated as we intercepted the veining in sufficient pierce points to effectively evaluate these potential feeder sites. We look forward to announcing assay results in the coming weeks."
Figure 1 Queenslander Workings Multiple Drill Hole Pierce Points
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About Big Hill
The Big Hill Gold Property consists of a single Exploration Permit covering 24 square kilometres and encloses two discrete granted mining leases. The permit covers the historic mines of Big Hill, Queenslander, Monte Cristo and Sultan & Taylor of the Talgai Goldfield. Talgai is one of eight historical Goldfields in the broader Warwick-Texas District, active in the late 19th century, which include Canal Creek, Thanes Creek, Leyburn, Palgrave, Pikedale, Lucky Valley and MacDonald Goldfields. These supported both alluvial and reef mining, with the Queenslander Mine distinguishing itself as the first lode gold mine in the state of Queensland with a total production of 4.1Koz of gold at an average grade of 50g/t with some early crushings reported up to 4000g/t. The bulk of production in the historical mines in the Warwick-Texas District occurred from initial discovery in 1864 until the early 1900s. Small-scale activity continued during intermittent periods in the 20th century, with many of the larger historic mines remaining under mining leases but with limited modern exploration to date.
About Queensland Gold Hills Corp.
Queensland Gold Hills is focused on conducting modern systematic exploration in the historic goldfields of Queensland, Australia. Collectively, the Big Hill Gold Project and the Titan Project cover 110 square kilometers and host 54 high-grade historical gold mines in the Talgai Goldfields of the broader Warwick-Texas District.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Blair Way, Chief Executive Officer & Director
Telephone: 1 (800) 482-7560
E-mail: info@queenslandgoldhills.com
Twitter: @QLDGoldhills
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Company's properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under Company's SEDAR profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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