ST IVES PROJECT
At the St Ives project, the Company holds four exploration licences and one exploration application covering approximately 162 square kilometres covering a highly prospective zone within and adjacent to Lake Lefroy, approximately 60 kilometres south of Kalgoorlie. Quantum's tenure lies immediately east of the Boulder-Lefroy fault system that hosts the world-class St Ives mineral field presently producing 400,000 ounces of gold per annum. In addition, the one million ounce Belleisle gold deposit is located approximately two kilometres to the southwest of the project area.
The Company has purchased aeromagnetic data which will aid target generation and a brief review of previous exploration indicates a substantial amount of geochemistry and drilling has been completed over selected areas. Ongoing processing of the geophysical data and detailed assessment of exploration completed to date is planned, along with field verification, as part of the target generation process.
The prospect consists of multiple granite greenstone contacts and interpreted subtle flexures in structures identified from the regional magnetics. The greenstones are related to the Kalgoorlie succession of rocks which host the Kambalda nickel and gold deposits and in most cases are covered by a veneer of transported sediment. The Company expects to advance this prospect through targeted geochemistry and drilling and believes it is in an area with the potential to host a world class gold deposit.
