Bismarck (EL1727) - Quintessential Resources Limited

ASX Announcements

	16 May 2013 Assays Confirm Gold Mineralisation at the Gold Zone Irak Prospect
	7 May 2013 ASX Irak Drilling Campaign Completed
	23 Apr 2013 Evaluation of Kwaiahia Epithermal Gold Prospect Completed
	23 Apr 2013 Evaluation of Kwaiahia Epithermal Gold Prospect Completed

EL1727 Bismarck Bismarck is located in the northwest trending Papuan Fold Belt, covering the major Bismarck Structural Zone and the associated intrusions and sediment contact / metamorphic aureoles. Bismarck contains a 35 kilometre prospective strike length and includes 14 named prospects. Bismarck is considered by the Directors to be highly prospective for World Class intrusive and diatreme related /epithermal gold and porphyry copper - gold -molybdenum deposits. Irak Prospect The prospectivity of the Irak Prospect was upgraded as a result of the second geochemical program undertaken by QRL. Irak is located within the Mal Porphyry copper-molybdenum-gold District, contained within EL 1727 Bismarck. New skarn outcrops that are strongly mineralised with copper and silver were discovered while following up the higher-grade copper, gold and silver anomalies documented in outcrop at Irak in late 2011. The recently discovered magnetite-sulphide skarn north of the historic outcrop is highly encouraging and demonstrates that mineralisation is widespread and open in several directions. Further geochemical exploration will be conducted to the west to investigate the anomalous float samples plus a likely sulphide breccia outcrop and to the south to investigate the anomalous geochemical signatures. Continued data evaluation at EL 1727 demonstrated Aeromagnetic Analytical Signal (AS) anomalies which form a quasi-circular annulus within and around the Irak grid, with a core of strong and complex 3D-IP resistivity. These Analytical Signal anomalies are quasi-coincident with three strong 3D-IP chargeability anomalies occurring at various depths below surface. Strong aeromagnetic analytical signal anomalies that occur at Malau and in other parts of the Mal District and EL 1727 are yet to be investigated and evaluated using detailed mapping and sampling. The Tekem Gold District Ten diamond drill holes were completed at Tekem. The program enabled the partial evaluation of the surficial gold mineralisation. Drilling has shown a large gold mineralised system, as the holes are variably to completely mineralised and finish in mineralisation. The drilling has documented several discrete types of mineralisation containing varying proportions of gold, silver, arsenic, copper and molybdenum. The presence of relatively abundant copper associated with the gold mineralisation and other surface geochemistry plus the mapped geology suggests that the area could contain a major porphyry copper- gold - molybdenum mineralised sulphide system. This possibility will be further investigated at the Kunapali Prospect. A continuous, steeply dipping, higher grade internal section consisting of 2.2m of 7.30 g/t gold was demonstrated in hole TKD 001 and 2.1m of 8.10 g/t gold in TKD 002. TKD003 returned 0.65m of 27.8g/t gold (with 60g/t silver) plus 1.0m of 25.4g/t gold. These two outstanding intercepts are separated by 1.2m. These higher grade sections appear to be continuous with the mineralisation drilled in holes TKD001 and 002. TKD004 further demonstrated and reinforced the high grade gold potential, with a weighted assay intercept of 2.4m grading 16.90g/t gold (from 10.5 to 12.9m downhole). TKD005 was steeply inclined and didn't traverse as much horizontal distance as TKD004 but continued to demonstrate the widespread nature of the gold mineralisation and also reinforced the high grade gold potential with an assay intercept of 4.1m grading 10.1g/t gold(from 12.2m to 16.3m downhole). TKD006 contains 9 discrete zones of higher tenor gold mineralisation, with 60% of the hole at >0.1g/t. The weighted average assay intercept of the entire hole is 110.1m grading 0.46g/t gold. The last mineralised intersection graded 3.87g/t gold over a 1.8m interval from 105.4m to 106.3m. Hole TKD007 was inclined more steeply (as per TKD005) and demonstrated 4 discrete higher tenor mineralised zones with 50% of the hole greater than 0.1g/t gold. The weighted assay average of the entire hole was 128.0m grading 0.37g/t gold; the last mineralised interval was 0.6m grading 8.67g/t gold and located about 5m from the end of the hole. TKD 008 targeted the large and intense 3D-IP chargeability anomaly however the hole was terminated at 300.3 meters because of drill rig issues at depth. TKD 008 did not successfully test the high intensity core region of the chargeability anomaly which was anticipated at 400 meters depth. Hole TKD 008 was only weakly mineralised. The best assay results from TKD009 included 4.7m of 1.41 g/t gold and 1m of 3.43 g/t gold. TKD 010 continued to demonstrate the higher grade and widespread nature of the gold mineralisation in the intrusives and the diatreme at Tekem with eight discrete gold intercepts greater than 1.0g/t gold and peak results including 1m of 9.31g/t gold and 1m of 8.77g/t gold. The entire mineralised intrsive+shale section of hole 10 was 216m from surface assaying 0.31g/t gold.

The Mal Porphyry Copper District Quintessential are privileged to conducted the maiden diamond drilling program at the highly prospective Mal porphyry copper-molybdenum prospect. The Mal aeromagnetics illustrated that it contained a typical porphyry copper signature. The results from the 3D-IP survey confirmed the excellent prospectivity and compelling drill targets were determined. The Mal District is located 15km to the NW of Tekem and is highly prospective for porphyry copper-gold-molybdenum mineralisation. The nine prospects are associated with a 7.5km diameter intrusive that has a 'typical' aeromagnetic porphyry signature and is coincident with a sub-circular topographic feature. Exploration has defined strongly anomalous copper and gold mineralisation over a large area with multiple prospects in stream sediment, float/outcrop rock and soil samples. A NE-trending intrusive body about 2km wide and 3km long cuts into shales at the Mal Prospect and several breccia pipes were identified carrying disseminated and vein related copper mineralisation and pyrite. Gold and base metals have various 3D spatial relationships with pyrite / sulphides in different mineral deposits, depending on their physical and chemical conditions of formation. The 3D-IP survey will produce chargeability, resistivity and conductivity information that Quintessential will evaluate in conjunction with the surface geochemical information and assays, to produce well defined and immediate drilling targets. A “sulphide system” refers to the presence of disseminated and electrically conductive sulphide minerals, however the discrimination of type or quantity is not apparent. This type of geophysical survey has been proven to locate copper mineralisation recently by explorers in New Britain and New Ireland Provinces and also demonstrated excellent conductivity and chargeability anomalies at Quintessential’s Tekem Deposit (EL 1727) in April this year. Strong chargeability anomalies are compelling drilling targets for both base metal and precious metal deposits, as are their shoulders (the transition zones from high to low intensity). The intensely chargeable zones likely reflect areas with much higher disseminated sulphide concentrations. Very low resistivity zones reflect conductivity and possible semi-massive sulphides. They are excellent drilling targets. The Mal grid consists of a block of 6 survey lines, spaced 200m apart over a length of 2,800m, for a total of 16.8 line kilometers over 2.8km². The Irak grid consists of a block of 5 survey lines, spaced 200m apart over a length of 1,200m for a total 6 line kilometers over 0.96km². The grids will be increased in size to cover ‘on edge’ anomalies as detected. The Mal District is situated 9.5km from the Yenkis airstrip and 15km to the NW of the Tekem Prospect. It is highly prospective for porphyry copper-gold-silver-molybdenum mineralisation. It is located on the Maramuni-Karawari Fault Zone, at the intersection of a major regional, arc-parallel terrane bounding fault (NW trending) and a major arc normal lineament (NE trending). The geology consists of mid-Miocene age intermediate intrusives into Mesozoic age shales and slates. Historic exploration has defined strongly anomalous copper and gold mineralisation at the Mal District over a large area with multiple prospects in stream sediment, float/outcrop rock and soil samples. The data indicates the presence of a major porphyry copper-gold-molybdenum system. Exploration is assessing this model.
Semben Gold Prospect A trenching program was completed at the Semben Prospect to define additional trenching and future drill targets. Best results included 3m of 27.40g/t gold +29.0g/t silver, 18m of 3.13g/t gold +14.2 g/t silver and 1m grading 21.10 g/t gold +28.3g/t silver. Alteration and mineralisation is structurally controlled with K-feldspar and brown biotite + chalcopyrite + molybdenum occur along veins and fractures with increasing depth. The dykes appear to have been localised along steeply dipping structures and bedding planes. The occurrence of high angle veins coupled with structure control alteration and mineralisation and are indicative of fluids being derived from a deeper source. The qtz-cpy-Mo stock working associated with the late porphyry dykes intruding the hornfelsed shale is a normal feature in porphyry systems. Giwi Porphyry Copper-Gold District Giwi is a relatively advanced prospect which is highly prospective for a gold rich porphyry copper deposit with possible supergene mineralisation. The area contains coincident copper and gold anomalies in streams, soils and bedrock that are associated with an 800m x 600m zone of siliceous and weakly potassic altered granodiorite intruding siltstones. A 3D-IP survey has been completed for Giwi to determine 2012 drilling targets.