QIT.v ~ 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.
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.
News 
Market Data 
Discover 
AI
