By 9th January 2012
ASX Announcement
4/66 Kings Park Road, West Perth WA 6005
PO Box 52, West Perth WA 6872
ASX: QRL Drilling Update from the Tekem Gold DepositQuintessential Resources Ltd (ASX:QRL, Quintessential) is pleased to provide an update on the
Company's maiden diamond drilling program at the Tekem Prospect, EL1727, Papua New Guinea.
The Tekem Gold Deposit has a JORC Compliant Inferred Resource that contains 41,400 ounces of gold (0.5 g/t cut-off) in two discrete zones to 20m depth below surface, as veining in 800,000 tonnes of brecciated shales and/or intrusives that grade 1.61 g/t gold. Zone 1 is 170m long and Zone 2 is
130m long, both are 20 to 40m wide, are separated by ~150m and trend (azimuth) 050°.
Quintessential's recently purchased man /heli-portable diamond coring rig has completed test drilling plus 5 diamond core holes, targeting Zone 1 (from the location of historic drill hole 2) totalling ~470 m. Figure 4 shows rig DDR1 after being rotated on the pad, preparing to drill hole TKD004.
The 5 holes are being drilled on two fences (azimuth
