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GoldQuest Mining Corp.
Summary
| Project: | Tireo | |
|---|---|---|
| Deposit: | Cachimbo | |
| Location: | Dominican Republic | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 1/30/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-1-2018: GoldQuest Mining Corp. announces an Exploration/Drilling Update report for its Cachimbo deposit at the Tireo project. Drilling results incl. 148.1m @ 0.8g/t Au, 3.9g/t Ag, 0.02% Cu, 0.1% Zn from 55.60m. VANCOUVER, BC--(Marketwired – January 30t | |
| Resources: | x | |
| CP/QP: | [Overall Report]: William Fisher (Internal) | |
| ABSTRACT: | VANCOUVER, BC--(Marketwired – January 30th, 2018) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) ("GoldQuest" or the "Company") is pleased to report assay results from the latest seven drill holes from its Cachimbo Discovery located within the Company's 100% owned Tireo Concessions in the Dominican Republic. Mineralization at Cachimbo remains open in all directions. The Company's 50-km-long land package also hosts multiple targets areas and the multi-million-ounce gold/copper Romero Project, 22 km to the north-west, which this week received approval from the Ministry of Mines for a 75-year Exploitation License (see release of Jan 22nd, 2018). Several holes display a repetitive characteristic at Cachimbo which include higher grade near surface intervals within very broad (over 100m) intervals of lower grade mineralization below, characteristics suggestive of deposition below or at the paleo seafloor. Highlights include hole TIR-17-50, a step-out to the east of previous drilling, encountering a broad anomalous gold intersection from 55.6 m to 203.7 m downhole of 148.1 m grading 0.82 g/t gold, containing sub intervals of 5.05 m @ 8.4 g/t gold and 20.3 m @ 1.74 g/t gold, with the last assay at the bottom of the hole returning 1.8 m @ 1.58 g/t gold. "These results support our belief that our Cachimbo discovery has considerable potential for a large gold bearing system, which we continue to intersect," commented Bill Fisher, GoldQuest's CEO. “An expanded 2018 drill program will be announced shortly, which will include testing further expansion of Cachimbo, new targets along the 50 km belt and a dedicated program around the Romero development area.” | |
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