Business
GoldQuest's Data Collaboration With Precipitate Defines New Gold-Copper Targets With "District Scale" Potential in the Dominican Republic
VANCOUVER, BC--(Marketwired - February 16, 2016) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) ("GoldQuest" or the "Company") is pl
About this update from Goldquest Mining Corp.
[{"type":"text","content":" VANCOUVER, BC--(Marketwired - February 16, 2016) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) (\"GoldQuest\" or the \"Company\") is pleased to announce results of an initial collaborative data review conducted in concert with Precipitate Gold Corp. as part of the companies' recently announced data sharing agreement aimed at developing a better regional understanding of the Dominican Republic's Tireo Gold Belt and its geological characteristics and district scale potential.Initial collaborative efforts have focused on establishing a geological base by combining each company's independently generated satellite images and airborne geophysical data into a unified compilation that has now created the district's first inferred regional scale geology map (see attached figure). This newly generated inferred regional geology map, which covers an area measuring about 65 kilometres by up to 12 kilometres ('km'), highlights areas of recent discoveries and known gold/copper mineralization throughout the belt, while unveiling five new exploration target areas with similar geological characteristics to those identified over known mineralization. A critical next step in the ongoing data review will include incorporating detailed geophysical and geochemical data (already generated) into the new model framework while on-going GoldQuest and pending Precipitate mapping programs will further refine these new target areas. Results of the current and pending ground work will be released by the companies, jointly or individually, as it is completed and analyzed.GoldQuest's Chairman Bill Fisher commented, \"This inferred geological map is an excellent and inexpensive step towards understanding the formation processes that created the Tireo's known mineralized bodies. More importantly, applying a unified data framework allows us to highlight new areas that display target signatures similar to known mineralized bodies within this large regional trend. The ability to efficiently vector in on priority areas with follow-up ground work could significantly expedite the discovery process. We are quite pleased that this computer-aided mapping study distinguished most of our known gold-copper mineralized areas and points to new follow-up areas with similar mineral potential. We have crews in the field mapping and...