THUNDER BAY, ONTARIO--(Marketwire - Feb. 7, 2012) - QRS Capital Corp. (TSX VENTURE:QRS.V - News) ("QRS" or the "Company") is pleased to announce that it has signed a drilling contract with Major Drilling for the diamond drilling program at the Judith Property, Mexico located northwest of the town of Aldama in the state of Chihuahua, Mexico.
Based on the exploration results to date, nine diamond drill holes are planned for a total of 3,500 meters. The program is designed to prove bulk and disseminated mineralization in different types of targets, where a significant portion of the mineralization may be in close contact with an intrusive rock; or where there is no intrusive rock exposed in the deposit but other evidence such as breccia pipes and gossans are present and outcropping. The program will test surface samples taken at the old workings at the "Dorado" vein system which returned high grade results with assays up to 3,343 g/t Ag (as press released on March 8th 2011) as well as high grade gold and lead credits. New samples taken underground at these locations confirmed the high grades at "Dorado". Detail geological surveys, alteration mapping, soil geochemical anomalies and 3D IP geophysics have traced potential exploration targets.
The diamond drill program will be conducted by Major Drilling, out of Hermosillo, Sonora. The drilling program is expected to start early March at the Judith property. Major Drilling will be using a 1-UDR 200 or Major 50 drill rig; the drill program will be overseen by the Company's senior technical team.
Additionally, QRS is continuing its due diligence on the copper exploration project located in the IV Region of Chile and anticipates having a signed letter of intent shortly.
QRS's President, Diego Benalcazar, stated, "We are very excited to commence drilling in Mexico at our Judith Property and look forward to finding disseminated mineralized potential to complement the already recognized silver vein system. The system has depicted at least 10 veins running up to 600m in length, widths of up to 2m and grades ranges of 200+ g/t Ag in the ore shoots to extremely high grades like 3,343 g/t Ag, greater than 1% Pb and 0.6% Zn."
The above information has been prepared under the supervision of geologist Mr. Allen Maynard, MAIG, MAusIMM, who is designated as a "Qualified Person", and who has reviewed the information and has verified the authenticity and validity of the data.
About QRS Capital Corp.
QRS is a mineral exploration company actively seeking exploration stage copper and gold targets in South America, particularly in Colombia, Brazil, Chile and Ecuador. The company currently holds an an 80% beneficial interest in the Judith Property which consists of six mining lots and concessions that cover a combined area of approximately 597.5 hectares located in the City of Aldama, Chihuahua State, Mexico and is entitled to 70% of any net profits from the Judith Property. QRS also holds an option to purchase the remaining 20% beneficial and legal interest in the Judith Property.
ON BEHALF OF THE BOARD OF DIRECTORS
John Seaman, Chairman & CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about future acquisitions and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in the Company's disclosure documents. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither 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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