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GoldQuest Granted New Exploration License; Geophysical Anomalies Strengthened and Expanded
VANCOUVER, BC--(Marketwired - April 12, 2016) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) ("GoldQuest" or the "Company") is pleas
About this update from Goldquest Mining Corp.
[{"type":"text","content":"VANCOUVER, BC--(Marketwired - April 12, 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 La Tachuela concession, to the south and adjacent to the Company's mining application over their multi-million ounce Romero gold/copper deposit. In addition, the 2016 Induced Polarization (\"IP\") program continues to deliver excellent results. The trend of strong chargeability anomalies has been expanded to at least seven kilometres, from the northern end of the La Tachuela concession to the current southern limit of the survey. (See exploration update map attached.) Upon completion of this phase of geophysics, the company will review the complete data set and rank targets for drilling. The La Tachuela Concession The 330.25 hectare, La Tachuela concession covers approximately 3 kilometres strike length of the Tireo volcanic formation, where GoldQuest geologists have identified a corridor of argillic alteration indicating mineralizing hydrothermal activity, with silicified dacite as seen at Romero. Grab samples from mapped alteration areas within La Tachuela have returned highly anomalous results of up to 7.1 g/t gold at Minero's Ridge and 9.7 g/t gold at Fortuna. Of 144 rock samples taken within the concession to date, 36 returned over 1 g/t gold; 18 samples have over 3 g/t gold and 6 samples have over 5 g/t gold. A strong magnetic low identified in the Company's 2013 airborne survey underlies the area, and current IP program shows coincident strongly chargeable anomalies, with resistivity highs. The pattern of overlapping anomalies from the two geophysical methods is identical to other discovery areas in the Tireo Trend. Direct evidence of permissive conditions in the form of mapped hydrothermal alteration and anomalous gold in rock samples results in a growing set of compelling drill targets. Update on IP survey The Company's extensive ground geophysical survey employing Gradient IP is continuing southward, with approximately a quarter of the survey's area completed. Crews are at work in the Toribio concessions (granted July 2015). A remarkably consistent chargeability anomaly extends over 16 kilometers south from Romero, with a further 6.5 kilometres...