Business
GoldQuest Identifies New Exploration Targets Near Romero, Dominican Republic
VANCOUVER, BC--(Marketwired - March 31, 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 - March 31, 2016) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) (\"GoldQuest\" or the \"Company\") is pleased to announce an update on the district wide exploration of the Company's 100% owned Tireo Project surrounding their multi-million ounce Romero gold/copper deposit in the Dominican Republic. The Project covers around 50 kilometres in strike length of the Tireo volcanic formation, only a small fraction of which had been subject to detailed exploration. GoldQuest geologists have been mapping and sampling the complete Project area for the past 12 months. This program has highlighted a corridor of alteration indicating mineralizing hydrothermal activity, as seen at Romero. The Company is following this up with an extensive ground geophysical survey employing induced polarization (IP) covering over 30 square kilometres that is in progress. With around a quarter of this survey's area covered, at least four new exploration targets considered worthy of drilling have been identified, which are shown on the map found here: http://www.goldquestcorp.com/images/maps/Tireo/Tireo_Formation.pdf In the area surveyed to date, 17 grab samples returned over 1 g/t gold, with the highest sample returning 9.7 g/t gold. GoldQuest's Chairman Bill Fisher commented, \"Our new exploration targets display a number of similarities to our 2012 Romero discovery, which was discovered by drilling targets generated by the first IP program deployed in the region. The new IP survey has made a great start and we look forward to reporting on further results as the program unfolds, as the areas with the greatest extent of intense argillic alteration have yet to be surveyed. GoldQuest has always stressed the importance of the Tireo trend as a potential \"mining camp\" capable of hosting multiple deposits. We view the results of the ongoing program as the roadmap to potential new discoveries. \" \"The targets highlighted in this release are in areas of deeper erosion which created surface exposures of the target rock types and areas of intense alteration, some of which report highly anomalous gold results from grab samples. This direct evidence, at surface, rather than \"blind\" and at depth as at Romero, increases our confidence in the potential for further disc...