Quinto Acquires Three Promising Gold and Base Metal Properties in the Schreiber-Hemlo Camp
April 08 2014 - 7:30AM
Marketwired
Quinto Acquires Three Promising Gold and Base Metal Properties in
the Schreiber-Hemlo Camp
- Indications of high-grade zinc on the Sawmill Lake property
from a float boulder with a massive sphalerite specimen that
assayed 66.0% zinc
- Previous work on the properties also shows strong potential
for gold, silver and copper mineralization
MONTREAL, QUEBEC--(Marketwired - Apr 8, 2014) - Quinto Real
Capital Corporation (TSX-VENTURE:QIT) ("Quinto" or the "Company")
is pleased to announce the acquisition of a 100% interest in three
promising gold and base metal properties in the Schreiber-Hemlo
camp. The properties comprise a total of 20 claims or 169 units
located in the historic Thunder Bay Mining District in Northwestern
Ontario, just 20 km east of Terrace Bay. The properties are within
90 km of Barrick Gold's world class 25 million ounce Hemlo gold
deposit.
The following is a summary of the properties' best exploration
results:
Sawmill Lake Property (9 claims, 80 units)
The Sawmill Lake property shows strong zinc potential, as
previous sampling work on the property resulted in the discovery of
a float boulder with a specimen of massive sphalerite that returned
66.0% zinc. This source of the sample has not yet been identified
but will be the target of future exploration.
The property also shows potential for the discovery of gold,
silver and copper, as grab sampling work done by prospectors on
adjacent claims just 300 m north of the property has returned
values of 44.5 g/t gold, 422.0 g/t silver and 5.4% copper. These
values indicate the potential of the area even though they are not
from the acquired property.
Sawmill Lake Perimeter Property (9 claims, 73 units)
Pyrite and molybdenite rich portions of the vein collected from
the property's Observation Point Occurrence by an OGS resident
geologist in 1988 returned values of 5.6 g/t gold and 14.9 g/t
silver from a grab sample. A second area of interest lies at the
mouth of Robertson Creek, where a sediment sample from the creek
has returned a value of 8.8 g/t gold.
Little Steel Lake Property (2 claims, 16 units)
Grab samples collected from the main showing on the property
have returned values of 31.0 g/t silver, 3.0% lead, 1.3% copper and
2.1% zinc.
Grab samples are selective by nature and are unlikely to
represent average grades on the property.
"We are very pleased with this acquisition, as we believe that
the properties have strong potential for gold, silver, copper and
zinc discoveries," said Michael Curtis, President and CEO of Quinto
Real Capital Corporation. "Compared to other well-known greenstone
belts in the region, this area is relatively underexplored and has
good potential to host additional deposits."
In consideration for the properties, the sellers will receive in
aggregate $4,000 and 250,000 Class A common shares of the Company
(the "Common Shares"). All Common Shares issued will be subject to
a holding period of four months and one day. In addition, the
properties are subject to a 2% NSR on smeltable minerals or metals
extracted from the properties, payable in cash or in kind to the
sellers. The Company will have the right to purchase half of the 2%
NSR at any time for a cash payment of $1,000,000 to the
sellers.
The transaction is subject to the approval of the TSX Venture
Exchange and other regulatory approvals. All parties are dealing at
arm's length.
The technical content of this news release was reviewed and
approved by Garry Clark, P.Geo, a qualified person under National
Instrument 43-101.
About Quinto Real Capital Corporation
Quinto Real Capital Corporation is a Canadian-based mining
exploration company focused on the exploration, evaluation and
development of gold mining properties with a view to commercial
production.
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release. The statements made in this news
release that are not historical facts are "forward-looking
statements". Readers are cautioned that any such statements are not
guarantees of future performance, and that actual developments or
results may vary materially from those described in these
"forward-looking" statements.
Michael CurtisPresident and Chief Executive Officer(514)
303-7895www.quintocorp.comFrancois KalosSOLAK Communications(514)
817-9987fkalos@gmail.com
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