Welcome!

News Feed Item

GoldQuest Files NI-43-101 Technical Report for Romero Project

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/17/13 -- GoldQuest Mining Corp. (TSX VENTURE: GQC)(FRANKFURT: M1W)(BERLIN: M1W) ("GoldQuest" or the "Company") is pleased to announce that it has filed the NI-43-101 Technical Report for the Companies 100% owned Romero Project on SEDAR. The Company is also releasing the results from the last eight holes of the 2013 drill campaign at the Romero Project including an infill hole of 25.7m grading 7.8 g/t gold, and other lower grade peripheral holes.

The Company recently published a NI 43-101 mineral resource estimate at the Romero Project which included 2.4 million ounces of gold equivalent Indicated mineral resources and 0.8 million ounces of gold equivalent Inferred mineral resources (see October 29, 2013 release). Pursuant to NI 43-101, the company has filed the Technical Report on SEDAR.

"It has been a successful and busy year for the company and we are very happy to have reached this important milestone," commented GoldQuest CEO Julio Espaillat. "In the coming year we will remain busy and focused on exploring this exciting new mineral belt and while we continue to advance our flagship Romero Project."

Table 1: Mineral Resources for Romero and Romero South Estimated by Micon International Limited as of October 29, 2013 (See press release October 29, 2013)


----------------------------------------------------------------------------
                                Au   Cu   Zn    Ag  AuEq                AuEq
Category  Zone        Tonnes (g/t)  (%)  (%) (g/t) (g/t) Au Ounces    Ounces
----------------------------------------------------------------------------
Indicated Romero  17,310,000  2.55 0.68 0.30   4.0  3.81 1,419,000 2,123,000
----------------------------------------------------------------------------
          Romero
          South    2,110,000  3.33 0.23 0.17   1.5  3.80   226,000   258,000
----------------------------------------------------------------------------
Total Indicated
Mineral Resources 19,420,000  2.63 0.63 0.29   3.7  3.81 1,645,000 2,381,000
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Inferred  Romero   8,520,000  1.59 0.39 0.46   4.0  2.47   437,000   678,000
----------------------------------------------------------------------------
          Romero
          South    1,500,000  1.92 0.19 0.18   2.3  2.33    92,000   112,000
----------------------------------------------------------------------------
Total Inferred
Mineral Resources 10,020,000  1.64 0.36 0.42   3.8  2.45   529,000   790,000
----------------------------------------------------------------------------

The results from the one in-fill hole and seven peripheral holes are summarized in the table below:


---------------------------------------------------------------------------
                                          Gold
              From       To Interval     (g/t)   Copper          Gold (g/t)
Hole_ID         (m)      (m)      (m)    uncut      (%)  50 g/t top cut-off
---------------------------------------------------------------------------
LTP-150      153.80   225.50    71.70     3.14     0.07                3.14
          -----------------------------------------------------------------
                                                                  Including
          -----------------------------------------------------------------
             199.78   225.50    25.72     7.80     0.17                7.80
          -----------------------------------------------------------------
                                                                        And
          -----------------------------------------------------------------
             288.58   371.00    82.42     0.82     0.21                0.82
---------------------------------------------------------------------------
LTP-151       90.73   141.00    50.27     0.26     0.04                0.26
---------------------------------------------------------------------------
LTP-152       65.67   195.07   129.40     0.54     0.04                0.54
---------------------------------------------------------------------------
LTP-153      175.03   204.48    29.45     0.48     0.15                0.48
---------------------------------------------------------------------------
LTP-154      126.00   182.88    56.88     0.62     0.08                0.62
---------------------------------------------------------------------------
LTP-155      207.00   224.00    17.00     0.53     0.03                0.53
---------------------------------------------------------------------------
LTP-156                                              No significant results
---------------------------------------------------------------------------
LTP-157       49.35    50.29     0.94     3.96     0.00                3.96
---------------------------------------------------------------------------

Hole LTP-150 was an inclined in-fill hole drilled at the Romero deposit. Holes LTP-151 through to LTP-157 were peripheral holes drilled around the main gold and copper trend at Romero. These holes encountered sulphide mineralization, with lower grade gold and copper than the core of the Romero, which remains open in several directions.

A plan map showing the hole locations at Romero for all eight holes can be found at: www.goldquestcorp.com/images/nr/HOLE_LOCATIONS_DEC_2013.JPG

A complete set of all Romero drill hole collar coordinates and hole directions can be found at:

www.goldquestcorp.com/images/nr/COLLAR_LOCATIONS.pdf

A complete set of assay results for all Romero drill holes can be found at:

www.goldquestcorp.com/images/nr/all_assay_dec_2013.pdf

As part of the Company's Quality Assurance and Quality Control procedures (QA/QC), most of the high grade intervals are re-assayed and the Company is awaiting these check samples. In addition, systematic re-assaying of intervals is in progress, to confirm compliance of blanks and duplicates checks. The Company also reviews results from Certified Standard Reference materials (CRSM or Standards), which are inserted at a rate of 5 per 100 samples. Within the results disclosed herein there were 3 samples which had results for copper outside of recommended tolerance limits. The Company has requested re-analysis of the samples in this batch and will report material differences in the results.

In GoldQuest's drill programs, composite intervals were chosen using a combination of geological criteria and mineralization, averaging around 2 metres core length. The drill core is cut in half with one half of the core sample shipped to ACME Labs by GoldQuest technicians. The remaining half of the core is kept at the company core shack for future assay verification, or any other further investigation. Assays within intervals below the 0.005 g/t detection limit for Au were given a zero value. All drill samples were prepared and screened by ACME Labs (Santo Domingo); metallic fire assay and multi-element ICP-MS were assayed by ACME Analytical Laboratories (Chile). Gold values are determined by standard fire assay with an AA finish, or, if over 10.0 g/t Au, were re-assayed and completed with a gravimetric finish. QA/QC included the insertion and continual monitoring of numerous standards, blanks and duplicates into the sample stream, at random intervals within each batch. The comprehensive GoldQuest Quality Assurance and Quality Control protocols can be viewed on GoldQuest's Website at: http://goldquestcorp.com/index.php/corporate/corporate-governance.

The assay results and QA/QC data in this press release has been reviewed and approved by Mr. Jeremy Niemi, P.Geo., the Director, Technical Services 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 with projects in the Dominican Republic traded on the TSX-V under the symbol GQC.V and in Frankfurt/Berlin with symbol M1W, with 143,980,044 shares outstanding (157,806,559 on a fully diluted basis).

Forward-looking statements:

This news release contains certain statements that may be deemed "forward-looking statements", including statements regarding the Company's expectations and plans for its mineral projects, including its drilling programs and the IP program. All statements in this release, other than statements of historical fact, that address events or developments that GoldQuest expects to occur, are forward- looking statements.

Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although GoldQuest believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include exploitation and exploration success, differing results from re-assays or other analytical procedures with respect to the drill results, continued availability of capital, financing and required resources (such as human resources, equipment and/or other capital resources) and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of GoldQuest's management on the date the statements are made. GoldQuest undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In his session at 20th Cloud Expo, Chris Carter, CEO of Approyo, will discuss the basic set up and solution for an SAP solution in the cloud and what it means to the viability of your company. Chris Carter is CEO of Approyo. He works with business around the globe, to assist them in their journey to the usage of Big Data in the forms of Hadoop (Cloudera and Hortonwork's) and SAP HANA. At Approyo, we support firms who are looking for knowledge to grow through current business process, where even ...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
Addteq is one of the top 10 Platinum Atlassian Experts who specialize in DevOps, custom and continuous integration, automation, plugin development, and consulting for midsize and global firms. Addteq firmly believes that automation is essential for successful software releases. Addteq centers its products and services around this fundamentally unique approach to delivering complete software release management solutions. With a combination of Addteq's services and our extensive list of partners,...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, Cloud Expo and @ThingsExpo are two of the most important technology events of the year. Since its launch over eight years ago, Cloud Expo and @ThingsExpo have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, I provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading the...
"Storage is growing. All of IDC's estimates say that unstructured data is now 80% of the world's data. We provide storage systems that can actually deal with that scale of data - software-defined storage systems," stated Paul Turner, Chief Product and Marketing Officer at Cloudian, in this SYS-CON.tv interview at 17th Cloud Expo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.