Business
GoldQuest Mining Drills 26.6 Metres of 4.2 g/t Gold Equivalent at Cachimbo Discovery
VANCOUVER, BC--(Marketwired - October 26, 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 - October 26, 2017) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) (\"GoldQuest\" or the \"Company\") is pleased to report assay results from the latest drillhole and the lower part of the previous drillhole from its Cachimbo Discovery, a Volcanogenic Massive Sulphide (VMS) deposit located within the Company's 100% owned Tireo Concessions in the Dominican Republic. Cachimbo remains open in all directions. The Company's 50 km long land package also hosts the multi-million-ounce gold/copper Romero Project, 22 kms to the north-west, along with multiple targets areas identified by the Company. The new TIR-17-45 drillhole was drilled in the eastern part of the discovery, and intersected 26.57 m @ 3.36 g/t gold, 21.55 g/t silver, 0.03 % copper, 0.11 % lead and 0.55 % zinc. (4.20 g/t AuEq.*) within a wider mineralized envelope of 94.56 m @ 1.88 g/t AuEq*. The richest horizon was found in a silica-barite matrix, associated with the upper parts of a VMS system from 7 metres below surface. Hole TIR-17-45 was drilled from the same drill pad as hole TIR-17-44, where the top 70 metres of assays were reported last week. The remaining assays are reported today, showing the previously reported 21.0 m @ 10 g/t AuEq.* lies within a wider intersection of 125 m @ 2.6 g/t gold. Anomalous mineralization continues intermittently to the bottom of both drillholes. \"Our Cachimbo discovery is consistently showing higher gold grades in an upper horizon deposited on the seafloor, above longer, lower gold grade intervals, which may have been deposited below the seafloor. The company continues to do detailed mapping, ground geophysics and grid soil sampling as we develop new targets in tandem with ongoing step out drilling at Cachimbo,\" commented Bill Fisher, GoldQuest's CEO and Executive Chairman. Step out drilling is ongoing, seeking a potential sub-seafloor copper-gold rich feeder system, analogous to the core of the Company's Romero deposit, which has not yet been recognized at Cachimbo. A plan map and cross-sections showing the Cachimbo drilling can be found at the following links. Plan Map: http://goldquestcorp.com/images/PlanView_Loma_El_Cachimbo.pdf Section B-B': http://goldquestcorp.com/images/Long_Section_Loma_El_Cachimbo_B-B.pdf Table 1. Tireo Drilling TIR -17-45 Intersection Hole &nb...