Soquem inks deal with Quinto

Vancouver — Quinto Technology (QU-V) has signed an agreement with provincially owned Soquem, to establish two 50/50 joint ventures in the Lac Gueret area of Quebec.

Soquem recently completed a comprehensive airborne survey over the entire 500 sq. km area. Subsequently, the project area was divided into two properties dubbed Lac Gueret North and Lac Gueret South.

The Lac Gueret North property hosts Quinto’s high-grade graphite and iron deposit which was discovered in November of 2001 by prospector Phil Boudrias. The graphite horizons are hosted in quartz-feldspar gneiss. Two parallel zones have been discovered so far. The GR zone extends over 700 metres and the GC zone stretches for 1,400 metres. The zones are 600 metres apart.

The GR zone is described as a moderately dipping graphite statigraphic unit hosted within a garnet gneiss. The graphite-rich mineralization in the GR zone is found in the hinge of two synclines. Samples from the northern hinge assayed 22.89% graphite over 17.6 metres. Samples from the southern hinge assayed 16.07% graphite over 6.7 metres. Between the two hinges the gneiss hosts disseminated mineralization that averaged 3.68% graphite over a width of 10.3 metres.

The Lac Gueret South property hosts Quinto’s recently acquired Nickel Bay claims. To these claims Soquem has included an additional 35 claims that were staked last year as well as 214 claims that were staked after the completion of an airborne geophysical survey.

Earlier field work on the property identified a massive sulphide vein that was 1.5 metres long and 15 cm wide. Assay values obtained form selected samples varied from 0.03%-to-2.31% nickel, 0.005%-to-5.53% copper and 0.03-to-1.41 gram per tonne palladium and 0.002-to-0.15 gram per tonne platinum.

Soquem will act as the operator of the Lac Gueret South joint-venture. In addition, Soquem is responsible for all property payments remaining on both The Lac Gueret north and Lac Gueret South joint ventures.