SRQ Resources Receives ATI-7 Authorization for Drilling at Lac Brennan
Airborne Gravimetry Survey Identifies Significant Target
MONTREAL, April 03, 2025 (GLOBE NEWSWIRE) -- SRQ Resources Inc. (“SRQ” or the “Company”) (TSX-V: SRQ) is pleased to announce that it has received its “Autorisation d’Exploration à Impact” (“ATI-7”), granting exploration rights across all 42 claims covering 24.8 km² at the Lac Brennan project in Quebec.
In April 2024, SRQ commissioned Xcalibur Multiphysics (“MPH”) to conduct a 977 km-line airborne gravimetry survey at its Lac Brulé and Lac Brennan projects. The survey identified prime gravity targets at both locations, interpreted as potential ultramafic rock assemblages with the capacity to host base metals such as copper and nickel. At Lac Brennan, the airborne gravimetry survey delineated a large gravity anomaly at the center of the property (Figures 1 & 2), reinforcing its exploration potential.
Key Highlights:
- The Lac Brennan property is situated 50 kilometers (“km”) southeast of SRQ’s flagship Lac Brulé project and 20 km southwest of the historic Lac Renzy nickel-copper mine.
- The primary target at Lac Brennan is a substantial gravitational anomaly measuring 4 km by 3 km, starting approximately 400 meters (“m”) below the surface.
- The Company received its ATI-7 authorization on February 13, 2025, covering the entire 42-claim property.
"Securing the ATI-7 marks a key milestone for SRQ at Lac Brennan, enabling us to advance exploration in this highly prospective region. " said Dr. Marc-Antoine Audet, Ph.D., P.Geo., CEO and President of SRQ. "Our airborne gravimetry survey has identified a significant gravity anomaly, further validating the strong potential for base metal mineralization. We are eager to move into the next phase of exploration and unlock the full value of this asset. As part of this effort, we are evaluating the Lac Brennan target for an initial borehole in Q3 or Q4 of 2025 while also assessing additional anomalies that could represent new prospective zones. "
Dr. Marc-Antoine Audet, P.Geo., CEO and President of SRQ, continued “The gravity anomaly at Lac Brennan closely resembles the gravity response defining the substantial “Target 900” at the Lac Brulé project, as illustrated in cross-sections from both properties (Figures 2-5).”
SRQ’s Exploration program Q2 & Q3-2025
The use of proceeds from the successfully oversubscribed private placement closed on March 24, 2025, will include an Ambient Noise Tomography (“ANT”) survey using Quebec-based CAUR Technologies at Lac Brulé’s Target 900 in May followed by a 4,000 metre (“m”) drilling program starting by mid-June 2025. SRQ is also looking for additional base metal opportunities.
Figure 1: The April 2024 MPH gravimetry survey response at the Lac Brennan property located 50 km SE of the flagship Lac Brulé property and its highly prospective “Target 900” and 20 km SW of the former Lac Renzy nickel-copper mine. The figure below presents cross-sections A-A’ and B-B’, the core of the Lac Brennan gravity target.
Figures 2 and 3:Cross-sections A-A’ (top) and B-B’ (bottom) (ref to Figure 1) from the Lac Brennan survey, highlighting the high-density gravity core as a prime drilling target.
Figures 4 and 5:Gravimetry response of “Target 900” at Lac Brulé, with cross-sections A-A’ (top) and B-B’ (bottom).
Insider Participation in March Private Placement
With respect to the March 25, 2025 press release regarding the closing of C$2.4 million non-brokered private placement of hard dollar units and flow-through shares, four insiders participated in the private placement, subscribing for 417,000 hard dollar units and 361,111 flow-through shares.
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 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’ interpretation regarding potential ultramafic rock assemblages at Lac Brulé and Lac Brennan; (2) the Company’ 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, 2023 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.
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