Vancouver, British Columbia--(Newsfile Corp. - July 22, 2022) - Queensland Gold Hills Corp. (TSXV: OZAU) (OTCQB: MNNFF) (FSE: MB3) ("Queensland Gold" or the "Company") announces it has received final assay results from the recently completed inaugural drill campaign at the Big Hill property, located in the historic Talgai Goldfield of Queensland, Australia. The 11 hole (1,457m) reverse circulation drilling program targeted extensions to mineralization below historic underground workings at the Queenslander prospect, one of a number of high-grade historic mines in the Talgai Goldfield.
The drilling successfully demonstrated structural continuity of the mineralized vein system ~100m down dip from the base of historical workings. Assay results returned from ALS-Global Brisbane showed moderate-grade intercepts across the vein and altered wallrock, including 10m @ 0.49g/t Au from 97m (BH013), but this initial, modest program did not intersect the higher-grade shoots reported in historical production records.
Queensland Gold Hills CEO and Director, Blair Way, commented: "While our first drill program at Big Hill did not intercept the grades we were targeting, we were successful in hitting the correct structures and encountered mineralization below the historic workings, as expected. The information provided will be extremely valuable as the team continues to analyze the multi-element geochemistry and vein geometry in order to key in on vectors to higher grade mineralization which will be drill-tested in subsequent programs at other targets on the property. We look forward to announcing upcoming plans and discussing our evolving strategies as we look to demonstrate the extraordinary potential we see in the Talgai Goldfields."
Figure 1 Assay Results at the Queenslander 2022 Drill Program
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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
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.
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