Quinto Real Reports Results of Exploration Work on Fancamp, Gwillim and Embry Properties
TSX VENTURE: QIT
MONTREAL, QUEBEC--(Marketwired - Nov. 14, 2016) - Quinto Real Capital Corporation (TSX VENTURE:QIT) ("Quinto" or the "Company") is pleased to report the results of its 2016 summer-fall exploration program on the Fancamp, Gwillim and Embry properties, where it has an option to acquire a 75% interest from Alexandria Minerals Corporation.
In August, the Company dewatered trenches A and B and carried out systematic channel sampling. The orientation of the channel sampling was perpendicular to the strike of the mineralized zones. A total of 103 channel and 19 grab samples were collected, followed by drone photomosaic and geological mapping. The significant channel sample results are shown in the following table:
|Channel #||g/t Au||Length (m)|
Overall, the new channel sampling program replicated the historical values obtained by Murgor in the 1980s. It showed erratic gold distribution except in a limited area at the south end of the B zone showing. The showing was tested by a number of drill holes, and remains open at depth. The gold is closely associated with quartz-carbonate-sulphide veining and altered host rock. The entire area is strongly deformed and affected by multiple folding caused by a NNE fault zone.
Historical and new data for the Fancamp property is currently being compiled, covering geology, IP surveys, diamond drilling, mag geophysical surveys, topography, orthophotos and other historical data. This compilation will help in the selection of drill targets for the next drilling program on Fancamp.
In late August, the Company conducted a field visit to the Cadillac vein showing. A grab sample taken on the showing returned a gold value of 130.6 g/t Au (124.8 g/t Au with metallic sieve) and 9.3 g/t Ag. The vein seems to be cut by a fault to the west, and more in-depth investigation is recommended to locate the western extension of the vein.
In July and August, 16 kilometres of linecutting was completed, followed by an IP survey on the eastern portion of the Gwillim property. The final report by Geophysique TMC indicates a series of moderate but continuous NE anomalous trends.
A full geophysical compilation is recommended to develop an overall understanding of the property and validate the signature of the known gold showings to identify the best possible drill targets.
In September, following the discovery of old trenches with sulphide blocks at the northern edge of the Embry property, four claims were added to the eight claims of the property. The next phase of work recommended for Embry is an IP survey on the northern portion of the property.
"We are very pleased with the results obtained to date on Fancamp and Gwillim, which show strong exploration potential that will need to be investigated by drilling once we have all the data we need to optimize drill target selection," said Michael Curtis, President and CEO of Quinto. "Meanwhile, we also remain on the lookout for other high-potential gold properties to add to our portfolio."
The Company also announced the granting of 1,300,000 stock options to directors, officers and consultants pursuant to its stock option plan. Each stock option is exercisable at a price of $0.11 for a period of five years from the date of the grant.
The scientific and technical content of this press release has been approved by Tony Brisson, P.Geo., a qualified person under National Instrument NI 43-101.
About Quinto Real Capital Corporation
Quinto Real Capital Corporation (TSX VENTURE:QIT) is a Canadian gold exploration company. It owns a 5% interest in the Monster Lake property (IAMGOLD: 50%/TomaGold: 45%) and an option to acquire a 75% interest in the Gwillim, Fancamp and Embry properties, all located close to the Chibougamau mining camp in Quebec, Canada.
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.