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Questcorp Mining ($QQQ | $QQCMF) CEO on Drilling a High-Grade Gold Project in Mexico

SmallCap Asia | 亚洲小盘股 Aug 14, 2026

Summary

An undrilled high-grade CRD target in Mexico's Sonora Belt, La Union is Questcorp's flagship — the CEO argues it could grow into a major polymetallic deposit.

Questcorp is fully funded for a 2,000-meter drill program at La Union, targeting zones near Peñoles's historic 1950s oxide workings.

With ~$10M CAD market cap and ~80% of ~100M shares in friendly hands, a discovery at La Union could re-rate Questcorp quickly.

Questcorp's Vancouver Island asset sits beside the former BHP mine, where the CEO notes a peer grew from under $10M to over $1B on drilling.

Questcorp must spend ~$5.5M on La Union over four years; the CEO says ~$3M is already spent, putting the project ahead of schedule.

Key points on Industrias Peñoles, S.A.B. de C.V

  • The guest notes Peñoles (referred to as 'Pinoles' in the transcript) was a small operator in the 1950s that mined high-grade oxide gold at the surface of what is now Questcorp's La Union project, with roughly 50,000 ounces historically produced.
  • The guest states Peñoles is now a multi-billion dollar market cap company.

John-Mark Staude's takeaways

  • Top takeaway The guest credits John-Mark Staude as the founder of Riverside Resources, holding a doctorate in geology and nicknamed 'Dr. Rocks', and describes him as backing the high-grade CRD-type deposit thesis at La Union.

Saf Dhillon's takeaways

  • Top takeaway Argues Questcorp's ~C$10M market cap (under 100M shares at C$0.09-C$0.11 as of 2026-08-14) undervalues the story because ~60M shares are held by a US boutique investment bank on a 3-5 year discovery/exit window, with management and directors adding ~7%.
  • Frames La Union as the flagship and bigger prize: a polymetallic CRD-style target that has never been drilled, with surface samples of 7-30 g/t gold (best 90 g/t) and characteristics he compares to nearby Hermosillo/Zone 32-style deposits.
  • Believes a discovery at either project would re-rate the company quickly; says they already have one discovery hole at La Union and are waiting on the first batch of assays from a ~2,000-meter first-phase program.
  • Calls the North Island Copper project undervalued but says that will not show until a drill bit turns (targeted for 2027), emphasizing its neighborhood between Northisle Copper & Gold (~C$1B+ market cap) and the former BHP North Island Copper Mine.
  • Plans to deliver proof-of-concept discovery and grow the resource over the next 6-12 months, leaning on the locked-up float and the US-boutique bank's patience window.