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GoldQuest Makes Important New Gold-Rich Polymetallic Discovery in Tireo Belt grading 14 g/t gold, 74 g/t silver, 12% zinc and 1% copper over 5 metres
VANCOUVER, BC--(Marketwired - January 10, 2017) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) ("GoldQuest" or the "Company") is ple
About this update from Goldquest Mining Corp.
[{"type":"text","content":"VANCOUVER, BC--(Marketwired - January 10, 2017) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) (\"GoldQuest\" or the \"Company\") is pleased to report a polymetallic discovery named Cachimbo from the latest 4 hole batch of drill results of its ongoing minimum 40 hole, 10,000 metre 2016/17 drill program on its 100% owned Tireo concessions in the Dominican Republic. The Company made this discovery on the third target of the twenty targets being tested in this campaign. Drillhole number TIR-16-09, intersected a new Volcanogenic Massive Sulphide (VMS) zone which returned high grades of precious and base metals -- notably gold and zinc -- on three horizons (see Table 1 below). This new discovery is located 20.5 kilometres south of GoldQuest's multi-million ounce Romero gold/copper project (see Tables 3 and 4 below). \"This discovery once again validates our rigorous exploration approach in the previously unexplored large Tireo Belt land package,\" commented Bill Fisher, GoldQuest's Executive Chairman. \"The discovery of high grade zinc is especially fortuitous since zinc prices have risen 75% during the last year. With this discovery on merely the 3rd target of 20 such targets, we are optimistic as to the potential of the district, as VMS mineralization often occurs in clusters. Along with the Romero project in full permitting mode, GoldQuest is well-funded and positioned to be one of the most active mineral exploration and development companies of 2017 as we explore the emerging Tireo Belt which has the potential to become a mining district.\" About the Cachimbo Discovery The Cachimbo discovery is confirmed as VMS mineralization. VMS orebodies host some of the largest and richest mines in the world including Kidd Creek in Canada and Rio Tinto in Spain. The high level of precious metals intersected in Cachimbo are particularly encouraging. The discovery hole is collared 80 metres from at-surface sampling that returned 167 g/t (5.4 oz/t) of gold. The new mineralization is open in both directions along strike. Importantly, the Cachimbo discovery hole displays a 60 metre mineralized package from 51 metres depth to 111 metres depth with multiple significant horizons. The upper horizon returned 4.6 metres grading 4.5 g/t gold and 73 g/t silver with minor base metals from 56.4 metres depth and the main VMS horiz...