Quinto Announces its Strategy for 2014
12 Março 2014 - 8:30AM
Marketwired
Quinto Announces its Strategy for 2014
- Company holds 10% interest in the Monster Lake property
- Owns 4,000,000 shares of Perisson Petroleum Corporation
- Focus on acquiring and exploring gold properties
- Only 10,849,998 shares outstanding
MONTREAL, QUEBEC--(Marketwired - Mar 12, 2014) - Quinto Real
Capital Corporation (TSX-VENTURE:QIT) ("Quinto" or the "Company")
is pleased to announce its strategy for 2014. The Company owns
interests in promising projects, including a 10% interest in the
Monster Lake property, owned by TomaGold Corporation and under
option by IAMGOLD Corporation, and 4,000,000 shares of Perisson
Petroleum Corporation, an oil and gas exploration company.
Monster Lake Property
The Company holds a 10% interest in TomaGold Corporation's
Monster Lake property. In November 2013, IAMGOLD Corporation signed
an option agreement with TomaGold to acquire a 50% interest in the
Monster Lake, Winchester and Lac à l'eau jaune properties for
$17.575 million, including $16 million in exploration and $1.575
million in payments over five years. Once IAMGOLD has acquired its
50% interest, the interests of TomaGold and Quinto will be diluted
proportionately such that TomaGold and Quinto hold interests of 45%
and 5%, respectively, in the Monster Lake property.
On February 27, 2014, TomaGold announced that IAMGOLD had
started drilling on the Monster Lake property. This initial program
of at least 6,000 metres of drilling mainly targets the 325 and
Mégane zones, but will also test other drill targets identified by
the high resolution airborne magnetic survey conducted in early
February.
Perisson Petroleum Corporation
Quinto also owns 4,000,000 shares of Perisson Petroleum
Corporation, an oil and gas exploration company. On February 10,
2014, Perisson announced an increase in the resources at its VMM-17
oil property in the Middle Magdalena Basin, in the Province of
Tolima, central Colombia. A report prepared by Netherlands, Sewell
& Associates, Inc. of Dallas, Texas, an independent qualified
reserves evaluator, indicates that the VMM-17 property contains an
estimated 32 million barrels of classified contingent resources and
350 million barrels of unrisked prospective resources.
Strategy for 2014: focus on gold projects
Quinto has been on the lookout since the beginning of the year
for gold properties with strong exploration potential, with the
intention of conducting exploration on any property it
acquires.
"Quinto is in very good position, with our interest in Monster
Lake and shares in Perisson, two promising projects that have the
potential to enhance the Company's value," said Michael Curtis,
President and CEO of Quinto. "We are also actively searching for
opportunities with a focus on precious metals in North
America."
This news release was reviewed and approved by Michael Curtis,
President and Chief Executive Officer of Quinto.
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
Quinto Resources (TSXV:QIT)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Quinto Resources (TSXV:QIT)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024