04
Aug

Quest Moves Into Doray

DorayQuest has become a substantial shareholder in Western Australian gold explorer Doray Minerals. Headed by Allan Kelly and an expanding team, the gold junior has recently reported some promising drilling results from the Andy Well Project 45 km north of Meekatharra. The preliminary JORC compliant gold resource announced in March 2011 of 174,000 ounces is 80% owned by Doray. Management have a significant drilling program planned for the next twelve months with 145,000 drilling metres planned. Mine plans are in early stage development with upcoming results dictating final mining strategy.

Drilling is currently attempting to assess the likelihood of the Wilbur Lode and Wilbur South being joined at depth. The company has a number of other prospective areas nearby. The site is only metres from the Great Northern Highway. Doray has $19 million cash and no debt.

Doray has recently appointed Mr Peter Alexander, previously a Director of Dominion Mining and Mr Leigh Junk, ex WMC Resources as Directors.

Quest commenced building a position in Doray in December 2010.