MONTREAL, July 14, 2025 (GLOBE NEWSWIRE) -- SRQ Resources Inc. ("SRQ" or the "Company") (TSX-V: SRQ) is pleased to announce that it has intersected the intrusive magmatic complex at Target 900 and identified new prospective geophysical targets at Lac Brulé in Québec. Target 900 drilling shows strong geological correlation with the Ambient Noise Tomography ("ANT") model completed by Caur Technologies ("Caur") in May-June 2025. The ANT interpretation highlights several convolutions and embayments along two predominantly vertical feeders, which, if confirmed, could represent highly prospective traps for nickel-copper (Ni-Cu) massive sulphide accumulation.
Diamond drill hole LB-25-30 has been terminated at 1,389 metres ("m") within the magmatic intrusive undeformed complex, consisting of pyroxenite and diorite with Ni-Cu-rich pods. Mineralization observed includes centimetric blobs of pentlandite, chalcopyrite, and pyrrhotite (Fig: 1). While the mineralized zones intercepted to date are limited in extent, they are highly significant and support the exploration model.
Initial observations suggest that LB-25-30 may have drilled below and slightly east of the main anomaly or one of the potential embayment's/traps predicted by Caur's ANT model. Downhole Transient Electromagnetic ("DHTEM") surveys are currently underway in LB-25-30 to refine targeting for follow-up drilling.
"The ANT results, together with our initial drilling and new geophysical data, continue to confirm the potential for a major nickel-copper discovery at Lac Brulé," said Dr. Marc-Antoine Audet, President and CEO "Early results from Target 900 are very promising, with the ANT model and preliminary drilling highlighting the presence of significant nickel-copper sulphide systems within the Lac Brulé magmatic complex. The discovery of additional high-priority targets through our expanded gravity surveys further demonstrates the scale and potential of this underexplored region. We remain focused on advancing exploration systematically and unlocking the full value of this remarkable asset for our shareholders."
The next planned hole, P-02, will target the magmatic complex at a steeper angle and is designed to intersect potential mineralized zones more directly. This hole is planned to reach a depth of approximately 1,200m.
In addition to drilling, SRQ has completed expanded airborne gravity surveys in June-July 2025 with an 880km-line airborne gravimetry survey carried out by Xcalibur Multiphysics ("MPH") Canada Inc in the western and central sectors of the Lac Brulé property. Preliminary results have delineated excellent target zones in geological settings comparable to Target 900, further enhancing the property's exploration potential.
A summary of these new target zones is provided in the image below (Fig: 2).
Figure 1: Hole LB-25-30 sulphide blobs at 1,297 m and 1,324 m in the Magmatic Intrusive Diorite. The figure is showing XRF reading taken by Dr Audet acting as the QP1.
Figure 2: Updated Airborne Gravity surveys with vertical cross-section N-S showing ANT data and LB-25-30 path.
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1 XRF results are preliminary and cannot be relied upon for resource estimation or economic assessment, they are representative and reliable for screening purposes only
Quality Control
The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, Ph. D geology, P. Geo and President and CEO of SRQ Resources, and a "Qualified Person", as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Caur Technologies
CAUR Technologies is a leading Canadian company at the forefront of seismic imaging for mineral exploration. By combining advanced ambient seismic methods with cloud-native processing infrastructure, CAUR delivers geologically relevant images of the subsurface from near surface to depths of up to several kilometers. Its proprietary Ambient Noise Tomography (ANT) platform enables exploration teams to identify and prioritize mineral targets with greater geological insight, operational efficiency, and at lower cost. CAUR's integrated hardware and software ecosystem is designed to accelerate discovery, reduce risk, and support data-driven decision-making across a wide range of geological environments.
To learn more about how CAUR Technologies is transforming exploration, visit www.caur.ca
About SRQ Resources Inc.
SRQ is a Canadian-based metals company exploring for nickel, copper and platinum in the province of Québec. SRQ owns 1,173 exploration claims in the province of Québec including Lac Brulé and Lac Brennan covering 243 km² and 25 km² respectively of virgin exploration ground at only six-hour drive from Montréal. Prospectivity for base metals has been confirmed by geological mapping, the presence of a surface gossan, and geophysical surveys.
For more information about SRQ, please visit SRQ's website at www.srqexploration.com
Contact Information:
Marc-Antoine Audet, President and CEO
ceo@srqexploration.com
Tel: (514) 726-4158
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Canadian securities legislation and other statements that are not historical facts. Forward-looking statements are included to provide information about management's current expectations and plans that allows investors and others to have a better understanding of the Company's business plans and financial performance and condition.
All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "interpret", "potential", "capacity", "substantial", "enable", "validate", "move", "unlock", "evaluate", "assess", "resemble", "follow", "look", "high", "prospective", or variations of such words and phrases or state that certain actions, events or results "may", "could", "will", "would" or "might". Specific forward-looking statements in this press release include, but are not limited to, statements and information with respect to: (1) the Company's interpretation regarding potential ultramafic rock assemblages at Lac Brulé and Lac Brennan; (2) the Company's interpretation regarding the capacity of the assemblages host metals such as copper and nickel at Lac Brulé and Lac Brennan; (3) the exploration potential of Lac Brulé and Lac Brennan; (4) the advancement of the Company's exploration activities at Lac Brennan following the receipt of the ATI-7 authorization; (5) the likelihood that the region is highly prospective; (6) expected outcomes based on gravimetry survey data, including the potential for base metal mineralization; (7) the development and potential value of Lac Brennan project; (8) the Company's planned drilling activities, including its plan to conduct an initial borehole in Q3 and Q4 of 2025; (9) the assessment of additional anomalies that could represent new prospective zones and their potential; (10) the resemblance between the gravity response at Lac Brulé and the Lac Brennan gravity anomaly; (11) the intended use and timing of proceeds from the private placement closed on March 24, 2025, including to perform an ANT survey in May 2025 and initiate a 4,000m drilling program by mid-June 2025; (12) the pursuit of future opportunities, including the identification of additional base metal targets; (13) the likelihood that Lac Brulé, including "Target 900", is highly prospective; (14) The Company's drilling targets, including the Lac Brennan gravity core as a prime drilling target. Such statements reflect the Company's views as at the date of this press release and are subject to certain risks, uncertainties, and assumptions.
Forward-looking information is based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such information or statements. There can be no assurance that such information or statements will prove to be accurate. Key assumptions upon which the Company's forward-looking information is based include, without limitation, the Company's interpretation of geological data, prevailing economic and political conditions, and other material factors and assumptions set forth in the Company's management's discussion and analysis for the year ended December 31, 2025, available with Canadian securities regulators.
Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is given as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws. The Company qualifies all of its forward-looking statements by these cautionary statements.
The Company undertakes no obligation to update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable law.
Figures accompanying this announcement are available at:
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https://www.globenewswire.com/NewsRoom/AttachmentNg/ecc7f4a1-06b4-432f-85ae-9d10a41959d1
