Ann: Investor Presentation Perenjori Premium Grade Iron Project, page-24

Another article from Proective Investors dated 15th July 2011

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Quest Minerals (ASX: QNL) has intersected broad widths of high grade magnetite including 150 metres at 39.45% iron (Fe) at the Feral iron ore prospect, within the Perenjori iron ore project, and sees potential to further extend the known boundaries of the mineralisation.

Along with previous drilling at the prospect the significant wide high grade intersections will be incorporated into the estimation of a maiden JORC Mineral Resource at Perenjori, where Quest has the right to earn an 80% interest.

At the Feral iron ore prospect three holes for 541 metres were drilled to follow up on previous high grade magnetite iron ore intersections.

Quest would be encouraged by the results and believes that potential exists to further extend the known boundaries of high grade magnetite as all three holes in the current program ended in mineralisation due to capacity limitations of the drill rig used. The company said true widths of mineralisation are estimated at 50% of the downhole intercept.

Previous metallurgical testwork at the prospect indicates magnetite can upgrade to clean high grade (68% Fe) concentrate at relatively coarse grind (45 micron). The company is planning further Davis Tube Recovery (metallurgical) testwork.

In addition high grade magnetite mineralisation was identified over five kilometres on the key Eastern Limb.

Significantly, many of the historical holes drilled into the Eastern Limb also ended in mineralisation and the potential exists to better define the true widths.

At the Alken prospect, also in the Perenjori project, the primary aim of the drilling was to test the potential for high grade hematite mineralisation of direct shipping grade.

A total of 36 holes for 1475 metres were drilled in zones of altered Banded Iron Formation, however no significant intersections of direct shipping grade hematite ore were received.

A geological review of untested zones covered by native vegetation is underway.

The prospects are located 15 kilometres north east of the town of Perenjori and 15 kilometres to the south of the Koolanooka iron ore mine in the mid west region of Western Australia.