EXPERIENCE AND COMPETITIVE ADVANTAGES
- Management has global knowledge and experience in mineral exploration
- Management has been exploring for gold for more than 25 years
- Management employs a strategy of careful research, area selection, project acquisition, and exploration towards its goal of discovering valuable mineral resources
Northquest Ltd. is an exploration Company. The Company was formed in 2008. The main commodity of interest is gold. The business of the Company is the identification, acquisition, and exploration of mineral properties with the overall objective of discovering resources that can provide exceptional value to shareholders. The strategy of the Company is to explore its current projects and to continuously conduct research worldwide leading to new project acquisitions.
The Company has acquired and explored properties in Canada and Mali and is currently completing research on new acquisitions in Canada and elsewhere.
Since 2008, the Company has completed extensive research on property acquisitions in Mali. The Company has 3 projects; Bananko,Mikayaand Silimana. Mali has sequences of Birimian rocks that are similar in age, stratigraphy, metamorphic grade, and metallogeny as the Birimian rocks in nearby Ghana, which has been a large scale gold producing country in West Africa for over a century. Mali has not had the same degree of exploration and development as Ghana but there have been four multi–million ounce gold discoveries in Mali in the past decade at Sadiola, Morila, Syama, and Lolou. Management has been working in Mali since 2002 and recognizes that Mali is at a relatively immature stage of exploration and development and is likely to have other undiscovered gold deposits. Under the current circumstances, with political unrest and certain security risks, the Company has curtailed field activity
In 2010 the Company completed due diligence sampling leading to the acquisition of the Pistol Bay project in Nunavut, Canada. The Pistol Bay project is an exact fit for the Company’s exploration strategy in that the geology is extremely permissive for gold deposits, there are numerous gold occurrences in the area, Nunavut is a jurisdiction that has not achieved exploration maturity, and a large land package could be readily acquired. Since December, 2010, the Company has completed four claim staking campaigns and completed a high airborne resolution geophysical survey. In 2011, the Company completed 2,500 metres of diamond drilling and in 2012 the company completed 4,600 metres of drilling.The Company is also at an advanced stage of research and area selection for new projectsin Myanmar and has made one application for a gold permit.
It is anticipated that the Company will acquire new projects every 12 to 18 months. It is the opinion of management that the greatest risk to capital in the exploration business is geologic risk, which is the risk that the Company may not make discoveries of sufficient size and grade that can be mined. Accordingly, the Company may accept certain amounts of country risk in order to acquire and explore projects that are highly prospective in order to decrease geologic risk as much as possible.
Contingent upon market conditions and other factors, the Company intends to raise funds through public and private share placements and joint ventures.