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GoldQuest Granted Additional Exploration License; Geophysical Anomalies Update
VANCOUVER, BC--(Marketwired - May 05, 2016) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) ("GoldQuest" or the "Company") is pleased
About this update from Goldquest Mining Corp.
[{"type":"text","content":"VANCOUVER, BC--(Marketwired - May 05, 2016) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) (\"GoldQuest\" or the \"Company\") is pleased to announce that the Government of the Dominican Republic has re-granted the Loma de Cachimbo concession, to the south and adjacent to the Company's mining application over their multi-million ounce Romero gold/copper deposit (Click to see Figure 1. GoldQuest's land position). In addition, the 2016 Induced Polarization (\"IP\") program continues to deliver excellent results, with a coherent high chargeability trend stretching over 17 kilometres including, and south from the Romero Deposit. (Click to see Figure 2. GoldQuest's IP anomalies, trending 17 kilometres south of Romero). The geophysical program is continuing southwards and upon completion, the company will review the complete data set and rank targets for drilling. Loma el Cachimbo Concession The 3,514 hectare Loma el Cachimbo concession is strategically positioned in a most prospective part of the Tireo Gold Belt. Recent mapping has revealed a widening of the Tireo volcanic formation from an average of 2 kilometres to 5 kilometres. There is a trend of extensive argillic alteration extending south from the Romero deposit, coincident with the newly generated IP anomalies, which continues to and onto Precipitate Gold's Juan de Herrera concession, which includes their Ginger Ridge Discovery (18 metres grading 4.5 g/t gold: see release of September 23, 2014). Mapping in the concession indicates that the alteration/mineralization system at Ginger Ridge continues north well into Loma el Cachimbo with alteration described over 4 kilometres in length within this concession. Detailed mapping has identified three sub-parallel trends of favorably altered rock, coincident with magnetic lows that may represent demagnetization of the country rocks resulting from hydrothermal alteration, as seen at Romero. GoldQuest has expanded the IP program to cover these newly identified areas. Assays from surface sampling are pending. Update on IP survey The Company's extensive ground geophysical survey employing Gradient IP is continuing southward, with approximately a half of the survey's area completed, and crews are extending the survey from the Toribio concession (granted July 2015) into the newly granted Loma el Cachimb...