UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month
February 2004
Commission File Number
0-24096
QUEENSTAKE RESOURCES LTD.
Suite 405 – 555 Sixth Street, New Westminster, B.C. V3L 5H1
(Address of principal executive office)
(indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40 F.
Form 20-F [X] Form 40 F [ ]
Indicate by check mark whether by furnishing the information contained in this Form the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No X
(If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
DOCUMENTS FILED:
Press Release NR2004-4 February 9, 2004
DESCRIPTION:
Queenstake Jerritt Canyon Exploration Results
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
QUEENSTAKE RESOURCES LTD.
(Registrant)
Date February 10, 2004
By “Doris Meyer”
(Signature)
Doris Meyer, Corporate Secretary
Queenstake Resources Ltd.
News Release 2004-04
February 9, 2004
TSX – QRL – Queenstake Resources Ltd.
SEC file number 0-24096
QUEENSTAKE ANNOUNCES EXPLORATION RESULTS
Denver,Colorado – February 9, 2004 – Queenstake Resources Ltd. (TSX:QRL) reports on its continuing surface and underground exploration program proximal to current underground mine workings at Jerritt Canyon, Nevada. Summarized below are intercepts of significant grade from holes drilled during December and January outside the resource envelope. The significance of these results, as well as the results obtained in other drill holes, is being evaluated.
SSX Mine
At the SSX Mine 72 holes were drilled from underground into targets outside the end-of-year resource; total footage is 14,693. Two holes were also drilled from the surface outside the resource envelope. Sample intervals with composite grades greater than 0.150 opt are reported below.
Hole No. Feet Grade Area Drill Type
(Ounces per ton)
ST-756A
10
0.489
Steer
Surface-RC
ST-757A
20
0.124
Steer
Surface-RC
Z1-7244-A
20
0.444
Zone 1
Underground-RC
Z1-7244-A
40
0.527
Zone 1
Underground-RC
Z1-7244-A
10
0.262
Zone 1
Underground-RC
Z1-7244-A
10
0.208
Zone 1
Underground-RC
7195-A
10
0.323
Zone 2
Underground-RC
7195-B
35
0.285
Zone 2
Underground-RC
7195-B
15
0.339
Zone 2
Underground-RC
7195-C
30
0.286
Zone 2
Underground-RC
7195-D
20
0.558
Zone 2
Underground-RC
7195-E
20
0.341
Zone 2
Underground-RC
7275-A
15
0.438
Zone 2
Underground-RC
7275-B
5
1.019
Zone 2
Underground-RC
7275-C
25
1.144
Zone 2
Underground-RC
7275-D
20
0.459
Zone 2
Underground-RC
7275-E
15
0.324
Zone 2
Underground-RC
7275-F
15
0.303
Zone 2
Underground-RC
7275-G
10
0.356
Zone 2
Underground-RC
SX-820
20
0.928
Zone 5
Underground-Core
SX-820
20
0.329
Zone 5
Underground-Core
SX-820
45
0.251
Zone 5
Underground-Core
SX-821
25
0.847
Zone 5
Underground-Core
SX-822
15
0.479
Zone 5
Underground-Core
SX-822
20
0.156
Zone 5
Underground-Core
SX-834
15
0.330
Zone 5
Underground-Core
SX-826
15
0.334
Zone 4
Underground-Core
SX-826
20
0.578
Zone 4
Underground-Core
SX-826
15
0.594
Zone 4
Underground-Core
Murray Mine
At the Murray Mine, 18 exploration holes were drilled into Zone 9 from the surface totaling 11,011 feet. In addition 4 holes, totaling 1,421 feet were drilled from underground into Zone 3. All of these holes targeted areas outside the end-of-2004 resource. Sample intervals with composite grades greater than 0.150 opt are reported below.
Hole No. Feet Grade Area Drill Type
(Ounces per ton)
MR-047 35 0.333 Zone 9 Surface-RC
MR-049A 10 0.370 Zone 9 Surface-RC
MR-050A 25 0.217 Zone 9 Surface-RC
MR-053 30 0.250 Zone 9 Surface-RC
MR-54A 10 0.185 Zone 7 Surface-RC
Z3-205-5A 15 0.286 Zone 3 Underground-RC
Smith Mine
At the Smith mine 2 holes were drilled from the surface, totaling 1,410 feet and 4 holes were drilled from underground , totaling 1,675 feet .. Sample intervals with composite grades greater than 0.150 opt are reported below.
Hole No. Feet Grade Area Drill Type
(Ounces per ton)
LX-428
80
0.289
B-Pit
Underground-Core
LX-428
20
0.202
B-Pit
Underground-Core
Queenstake is a Canadian corporation based in Denver, Colorado that has traded on the Toronto Stock Exchange for more than twenty years. In 2003 it acquired the Jerritt Canyon property from the AngloGold/Meridian Joint Venture. The Jerritt Canyon property consists of four operating underground mines and stockpiles that feed a 1.5 million ton per year processing facility. Jerritt Canyon has consistently produced more than 300,000 ounces of gold in each of the past twenty years and since 1999, from underground sources. The four operating mines are located within a contiguous
100 square mile land package that represents some of the most exciting gold exploration ground in Nevada. A map of the land position showing the location of the operating mines and significant prospects is attached.
For further information call:
John Haigh 303-297-1557 ext. 105 - Email –info@queenstake.com web –www.queenstake.com
Forward-Looking Statements – This news release contains “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included in this release, and Queenstake’s future plans are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and Queenstake does not undertake any obligation to update forward-looking statements should conditions or management’s estimates or opinions change.
The TSX has neither reviewed nor accepts responsibility for the adequacy or accuracy of this release.
Notes:
1.
A description of the geology, sampling procedures, and the Company's laboratory QA/QC procedures are as described in the Company's National Instrument 43-101 Technical Report filed on June 11, 2003. This report is available on the company’s website,www.queenstake.com.
2.
Samples from surface drilling are analyzed by ALS Chemex; samples from underground drilling are analyzed at the Jerritt Canyon laboratory using standard fire assay techniques.
3.
The Qualified Person for the release of this exploration information is Mr. Dorian (Dusty) Nicol, Executive Vice President and Exploration Director.
4.
Intercepts are reported as drilled; true widths have not yet been calculated.