CMQ Announces Drilling Results on Red Canyon Project

    




 CALGARY, Oct. 11, 2011 /CNW/ - CMQ Resources Inc.   ("CMQ") is  pleased to report drill results for an eight-hole reverse circulation  drilling program at the Red Canyon sediment-hosted gold project in  Eureka County, Nevada.  The project is being explored under an  "exploration with option to form joint venture agreement" with Miranda  Gold Corp. ("Miranda") . 

 Montezuma Mines Inc. ("Montezuma"), a wholly owned subsidiary of CMQ,  completed a 5,265-ft (1,604.8 m) program designed to test the  structural corridor trending southeast from the Ice prospect.  The ends  of the corridor are anchored by core hole MR09-05C and  reverse-circulation hole MR10-01 drilled in 2009 and 2010,  respectively. 




     ___________________________________________________________________
    |DrillHole| Intercept(ft) |Length (ft)| ozAu/t | Length (m) | gAu/t |
    |_________|_______________|___________|________|____________|_______|
    |MR09-05C |       0-130   |    119    |  0.152 |      36.3  |  5.25 |
    |         |               | (11 ft no |        |            |       |
    |         |               |  sample)  |        |            |       |
    |_________|_______________|___________|________|____________|_______|
    |includes |       56-95   |      39   |  0.281 |      11.9  |  9.64 |
    |_________|_______________|___________|________|____________|_______|
    |MR10-01  |      775-795  |      20   |  0.050 |      6.1   | 1.714 |
    |_________|_______________|___________|________|____________|_______|
    |         |      965-985  |      20   |  0.086 |      6.1   | 2.949 |
    |_________|_______________|___________|________|____________|_______|





 Seven of the eight holes were terminated in the Lone Mountain Dolomite  as planned.  Hole MR11-06 was lost due to caving and voids at 265 ft.   Significant assays are listed below. 




     _____________________________________________________________________
    | Drill Hole | Intercept | Length (ft) | ozAu/t | Length (m) | g Au/t |
    |            |   (ft)    |             |        |            |        |
    |____________|___________|_____________|________|____________|________|
    |   MR11-01  |   110-130 |        20   |  0.205 |      6.1   |  7.025 |
    |____________|___________|_____________|________|____________|________|
    |   MR11-02  |   100-105 |         5   |  0.009 |      1.52  |  0.309 |
    |____________|___________|_____________|________|____________|________|
    |   MR11-03  |   245-275 |        30   |  0.115 |      9.14  |  3.926 |
    |____________|___________|_____________|________|____________|________|
    |   MR11-07  |   245-265 |        20   |  0.010 |      6.10  |  0.353 |
    |____________|___________|_____________|________|____________|________|
    |   MR11-08  |   215-245 |        30   |  0.007 |      9.14  |  0.227 |
    |____________|___________|_____________|________|____________|________|





 True thicknesses are not known. Gold mineralization greater than 0.005  oz Au/t was not intersected in MR-04, -05 or -06. 

 All drill samples were collected with a reverse circulation drill using  5 ft (1.52 m) sample intervals.  Samples were assayed by ALS Chemex  Laboratories, Inc. of Sparks, Nevada.  Gold results were determined  using standard fire assay techniques on a 30-gram sample pulp with an  atomic absorption finish.  Montezuma QC/QA includes the insertion of  standards and blanks on a regular basis, check assays on select  samples, and the collection of duplicate samples. 

 Montezuma began another round of drilling on October 4(th).  Drilling will follow up on some of the mineralized intervals listed  above and also begin to test the Juniper Gulch series of anomalies in  the southeast part of the project.  It is planned to drill at least 5  holes totaling approximately 5,000 ft (1,524 m). 

 Project Details The Red Canyon project in Eureka County, Nevada, includes 254 unpatented  lode mining claims (7.9 sq mi/20.6 sq km) on the Battle Mountain-Eureka  Trend and adjoins U.S. Gold's Tonkin Springs property to the west.  The  project covers an erosional "window" that exposes hydrothermally  altered and brecciated lower-plate carbonate rocks that are age  equivalent to the rocks hosting Barrick's Cortez Hills gold deposit. 

 CMQ currently has 44,188,682 common shares issued and outstanding.   CMQ's website is located at www.cmqresources.com. John Hogg, CEO, CMQ Resources Inc., is the qualified person, as  defined by National Instrument 43-101, who has reviewed and verified  the data disclosed in this press release. 

 The TSX Venture Exchange does not accept responsibility for the adequacy  or accuracy of this release. 

 Forward-Looking Statements 

 This press release contains certain forward-looking statements and  forward-looking information (collectively referred to herein as  "forward-looking statements") within the meaning of Canadian securities  laws regarding the drilling and potential of the Red Canyon project as  well as the ability of CMQ to negotiate a forbearance agreement,  arrange alternative financing or continue operations.  Undue reliance  should not be placed on forward-looking statements, which are  inherently uncertain. There can be no assurance that the plans,  intentions or expectations upon which forward-looking statements are  based will in fact be realized.  Forward-looking statements are based  on management's current beliefs as well as assumptions made by, and  information currently available to, management.  Though management  considers these assumptions to be reasonable based on information  currently available to it, they may prove to be incorrect.  The  forward-looking statements contained in this press release are made as  of the date hereof and CMQ does not undertake any obligation to update  publicly or to revise any of the included forward-looking statements,  except as required by applicable law. 

   

CMQ Resources Inc.


CONTACT:  John Hogg, Chief Executive Officer, CMQ Resources Inc., Tel:[phone], E-mail [e-mail] 


    

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