Firstenergy Corp. (FE)

[Ed Monton]

Quinto Mining drills 339 m of 30.68% Fe at Lamelee


2008-02-05 06:26 MT - News Release

Mr. Tyrone Docherty reports

QUINTO RECEIVES UPDATED NI 43-101 REPORT INCREASING TONNAGE BY 20% AT PEPPLER LAKE

Quinto Mining Corp. has received the National Instrument 43-101 (NI 43-101) technical report on its Peppler Lake deposit. In addition to the increased tonnage to 302 million tonnes, 12 remaining holes are expected shortly which the company anticipates will increase the tonnage further. In addition Quinto has received results on six diamond drill holes which were completed on the Lamelee deposit in the fall of 2007.

Quinto's president, Tyrone Docherty states: "We are thrilled with the results of this technical report. The additional tonnage at Peppler Lake and the upcoming mineral resource estimate on the Lamelee deposit should demonstrate a world-class iron resource that together with the metallurgical testwork will support the preparation of a scoping study this summer for the Peppler Lake deposit. We expect to complete the definition drilling of Lamelee in 2008 and are targeting completion of the prefeasibility study on the combined project in 2009. Exploration drilling will also be carried out in 2008 on the additional satellite properties close to Peppler."