Monday, 18 Jul 2011 |Proactiveinvestors
Quest Minerals has intersected broad widths of high grade magnetite including 150 metres at 39.45% iron at the Feral iron ore prospect, within the Perenjori iron ore project and sees potential to further extend the known boundaries of the mineralisation.
Along with previous drilling at the prospect the significant wide high grade intersections will be incorporated into the estimation of a maiden JORC Mineral Resource at Perenjori, where Quest has the right to earn an 80% interest.
At the Feral iron ore prospect three holes for 541 metres were drilled to follow up on previous high grade magnetite iron ore intersections.
Quest would be encouraged by the results and believes that potential exists to further extend the known boundaries of high grade magnetite as all three holes in the current program ended in mineralisation due to capacity limitations of the drill rig used. The company said true widths of mineralisation are estimated at 50% of the downhole intercept.
Previous metallurgical testwork at the prospect indicates magnetite can upgrade to clean high grade concentrate at relatively coarse grind. The company is planning further Davis Tube Recovery (metallurgical) testwork.
In addition high grade magnetite mineralisation was identified over five kilometres on the key Eastern Limb.
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