Staying Focused: Great Quest Fertilizer Sells BC Copper-Gold Porphyry

Staying Focused: Great Quest Fertilizer Sells BC Copper-Gold PorphyryBack in June, Great Quest Metals changed its name to Great Quest Fertilizer (TSXV:GQ) in order to better reflect its focus on developing fertilizer projects in Africa. The company has stayed true to that mandate, as illustrated today with the sale of its Taseko copper-gold exploration property in British Columbia, Canada.

For Great Quest, Taseko was a "a legacy project within the company's portfolio." Though no NI 43-101 compliant resource estimate was completed for the property, various historic estimates suggest the potential for a sizeable in-situ copper-gold resource.

Granite Creek Gold (TSXV:GCX) has been conducting exploration at Taseko since 2011, and had an option to earn up to a 70-percent interest in the property. However, it announced today that it has returned the project to Great Quest, allowing that company to sell Taseko to Amarc Resources (TSXV:AHR) for $400,000.

Great Quest will retain a 2-percent royalty for Taseko, purchasable for $2 million once commercial production commences at the project.

Shifting towards Africa

As noted, Great Quest is focused on fertilizer projects in Africa. Specifically, it's working on developing its Tilemsi phosphate project in Northeastern Mali and its Sua Pan brownfield potash project in Botswana, with the aim of moving towards local production of farm-ready fertilizers.

President and CEO Jed Richardson reiterated that aim in today's press release, stating, "[w]e thank Amarc and Granite Creek for their attention in expediting this matter. The disposition of this BC project is in keeping with the Company's focus on fertilizer in Africa and will contribute towards funding the environmental work for its phosphate production facility in Mali and scoping level engineering work for the proposed potash production facility in Botswana."