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GoldQuest: Romero Pre-Feasibility Study Advancing on Schedule
VANCOUVER, BC--(Marketwired - January 21, 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 - January 21, 2016) - GoldQuest Mining Corp. (TSX VENTURE: GQC)(FRANKFURT: M1W)(BERLIN: M1W) (\"GoldQuest\" or the \"Company\") is pleased to report on the progress of the pre-feasibility study (\"PFS\") underway on its 100% owned Romero project in the Dominican Republic (\"DR\"). The Company selected Met-Chem Canada Inc. of Montreal to be the lead consultant, and the study continues to be on schedule for completion in Q2 2016. GoldQuest is fully funded to complete the PFS. GoldQuest discovered the Romero mineralization in 2012, and, in mid-2015, published a revised Preliminary Economic Assessment which returned after-tax economics of NPV(6%) of USD 219 million, IRR of 34%, AISC of $572/ounce gold equivalent with a payback of 2.7 years (see release of 29th April 2015). Following the lead consultant's site visit in December 2015, the program is moving forward rapidly and efficiently. A multi-disciplinary team of consultants and contractors contributing to the PFS, include; Micon International Limited (mineral resources), Golder Associates Limited of Toronto, Ontario (underground geotechnical design), ALS Global of Kamloops, British Columbia (metallurgical processing), DoCalSa of Santo Domingo, DR (infrastructure and roads design) and Empresa de Transmison Electrica Dominicana (ETED) of Santo Domingo, DR (electrical integration with the grid). \"Met-Chem's experience in the DR coupled with engagement of marquee engineers and consultants both in the DR and internationally mean that the initial phases of the PFS are going smoothly,\" commented Julio Espaillat, President and Chief Executive Officer. \"Comprehensive trade-off studies are in progress, and optimal site layouts and operating parameters are being developed.\" GoldQuest will periodically provide updates on the progress of the PFS, as well as the ongoing exploration program covering the company's Tireo Formation project that includes concessions and applications over a 50 kilometre distance surrounding the core Romero project. The information in this press release has been reviewed and approved by Mr. Jeremy Niemi, P. Geo., Vice President, Exploration of GoldQuest and a Qualified Person for the technical information in this press release under NI 43-101 standards. About GoldQuest GoldQuest is a Canadian based mineral exploration company wi...