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Quest Minerals unveils high quality iron ore at Perenjori project; shares spike

Last updated: 06:10 15 Mar 2013 GMT, First published: 05:10 15 Mar 2013 GMT

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Quest Minerals (ASX:QNL) has found high quality premium iron ore concentrate of 70% Fe at its Perenjori iron ore project in Western Australia.

Shares were up as high at $0.013 or up over 70% before trending down to $0.008 a share, up 14.29%.

The results follow Davis Tube Recovery (DTR) tests on 51 core samples taken from 2 diamond drill holes.

These two diamond drill holes were angled into the Core BIF Zone to obtain continuous sections across the various potential ore types within the BIF.

This drilling showed the Core BIF Zone to be 80 metres thick and identified an oxide zone to a vertical depth of 18 meteres long, and a 10 metres thick transition zone to the primary BIF at a depth of around 28 metres.

The ore characterisation from the DTR results will be used to design a comprehensive program of metallurgical tests that will involve shaking table, uniaxial compressive strength, Bond work index, heavy-media separation,
and wet high-intensity magnetic separation.

Focus will be directed to densimetric recovery from the oxide transition zone, and magnetic separation from the primary zone.

Quest is earning 80% interests in EL 70/2777 (Feral) and EL 70/2858 (Alken), which are situated close to the northern wheat-belt town of Perenjori.

The main features of the project include its strategic location close to key infrastructure including power lines and an existing 14 kilometres rail link to the port of Geraldton.

Production is likely within three years.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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