Australian minerals explorer Quest Minerals (ASX: QNL) has received returns of high-grade magnetite, vanadium and titanium during recent diamond drilling at the company's Victory Bore tenement, south of Sandstone in Western Australia.

The drilling has confirmed multiple bands of high grade magnetite, vanadium and titanium mineralisation within a layered gabbro intrusive.

Geological mapping and sampling of outcropping mineralisation has also confirmed the presence of fresh high grade mineralisation at surface grading up to 53% Fe, 1.14% V2O5 and 14.9% TiO2.

The diamond drilling program comprised of two diamond drill holes which were designed to test magnetite mineralisation modelled from detailed geophysical interpretation and 3D modelling of airborne magnetics.

The first hole in the program VC0901, intersected multiple bands of magnetite, vanadium and titanium, with the second hole intersecting thicker bands of high grade mineralisation.

The significant intersections include 66m at 29.33% Fe, 0.57% V2O5 and 8.36% TiO2.

It is anticipated that Davis Tube Recovery (DTR) testwork will commence on the samples during January 2010.

An RC drilling campaign is currently being designed to follow up on the reported drill intersections and in particular on the outcropping high grade fresh magnetite, vanadium and titanium as reported above.