Questcorp Mining Inc. (CSE:QQQ) has initiated its exploration program at the La Union Project in Mexico, following the completion of initial steps outlined in its option agreement. The company, with a market capitalization of C$13.8 million, has issued 6.29 million shares, representing approximately 9.9% of its issued share capital, and paid C$25,000 to Riverside Resources, the vendor. Riverside will continue to operate the project during the option agreement period and is actively engaging geophysical contractors to commence orientation and detailed surveys aimed at refining drill targets.
The La Union Project, a carbonate replacement deposit known for polymetallic mineralization, spans 2,520.2 hectares. This deposit type is a significant source of various metals, including copper, gold, silver, lead, manganese, and zinc. Mineralization occurs as polymetallic veins, replacement zones, and shear zones, with Questcorp highlighting the potential for high-grade metal content. Historical data from these zones have revealed grades of 54 grams per tonne gold, 833g/t silver, 11% zinc, 5.5% lead, and 2.2% copper, alongside hematite and manganese. Questcorp also anticipates potential for large gold discoveries above a potentially extensive porphyry copper district.
