Soquem inks joint ventures with Quinto Technology

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 performed an airborne survey over the entire, 500-sq.-km area. Subsequently, the project area was divided into two properties: 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 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 stratigraphic 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 from selected samples varied from 0.03% to 2.31% nickel, from 0.005% to 5.53% copper, and from 0.03 to 1.41 grams palladium per tonne, and from 0.002 to 0.15 gram platinum per tonne.

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