A recently completed engineering report by Consultant Darryl Drummond recommends Quinto Mining (VSE) evaluate its Lumby property in south-central British Columbia on the basis of its graphite potential.
Previous work on the property concentrated principally on the gold values hosted in a wide shear zone.
The shear zone dips at about 60 degrees, striking perpendicular to the ridge of a 500-metre high hillside. Drummond said the zone ranges up to 45 metres in width, and averages an estimated 15 metres. The zone has been drilled off along a strike length of about 350 metres and about 140 metres downdip. Drummond said assays from the reverse circulation drilling indicate the overall gold grade across the shear zone is about 2 grams per tonne. Although not necessarily ore-grade, taken in the context of a byproduct from a graphite milling operation, the gold content could be significant. Drummond said the graphite would likely be concentrated using flotation, with the reject vat leached to recover the contained gold.
Quinto has contracted Canmet labs to do a quality test on a small sample of the graphite material.
The company hopes to raise about $1.2 million to conduct further underground development, sampling and pilot plant test work. Drummond said the existing adit should be extended to the other side of the ridge as well as completing additional crosscuts through the shear zone. This would allow the company to collect a large bulk sample from the zone for additional testing. Quinto has about 6.7 million shares outstanding and a working capital deficit of about $20,000.
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