The 5,434-acre Peppler Lake iron property 100% owned by Quinto was acquired in 2004 from Mr. Ernest Black, a geologist who worked on the project with U.S. Steel in the 1960's. Quinto's interest was generated by a report on file with the Quebec Govt. (1980), which showed an iron ore resource of approximately 275 million tonnes. A scoping study by Bumigeme Engineering in spring 2006 indicated 250,000,000 tonnes grading 28.2% Fe with an NPV of $630,000,000. Quinto subsequently staked surrounding strategic claims (known as the satellite properties), with the intention of substantially increasing the resource. In summer 2006, Quinto embarked on a two-phase confirmation drilling program to confirm the tonnage outlined in the Bumigeme study. We expect an NI 43-101 report from the summer 2006 program, along with a new resource calculation from AMEC Engineering. A previous NI 43-101 report is on file from early 2006. Exploration of the satellite properties commenced in April 2007.
Peppler Lake and the satellite properties are located in the immediate vicinity of iron ore producers, thus the potential to add to the resource is highly likely. The claims are situated approximately 5 kilometers northwest of the highway bridge crossing the provincial highway (at km 467) that links Baie-Comeau to Fermont (Mount Wright). They also lie within 13 km of a railway linking the Mount Wright iron ore mine to the year-round deep sea port at Port Cartier. The railway runs parallel to Hydro-Quebec's Hart Jaune/Mount Wright high tension power transmission line.
Project Photos
click to enlarge
|
|
Claims
199 KB, approx. 38 seconds at 56.6Kbps |
|
|
Claims
183 KB, approx. 35 seconds at 56.6Kbps |
|
|
Peppler
120 KB, approx. 23 seconds at 56.6Kbps |
|
|
Hematite
127 KB, approx. 25 seconds at 56.6Kbps |
|
|
|
Fire Lake
163 KB, approx. 31 seconds at 56.6Kbps |
|
Technical Reports
|
)
)
)
)
)
)
)