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.

Contacts:
GoldQuest Mining Corp.
Julio Espaillat
President & Chief Executive Officer
+1-829-919-8701
[email protected]

GoldQuest Mining Corp.
Office of the Chairman - Toronto
+1-416-583-5606
[email protected]
www.goldquestcorp.com

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
DXWorldEXPO LLC announced today that All in Mobile, a mobile app development company from Poland, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. All In Mobile is a mobile app development company from Poland. Since 2014, they maintain passion for developing mobile applications for enterprises and startups worldwide.
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
We all know that end users experience the internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices - not doing so will be a path to eventual ...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
Sanjeev Sharma Joins November 11-13, 2018 @DevOpsSummit at @CloudEXPO New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
As Cybric's Chief Technology Officer, Mike D. Kail is responsible for the strategic vision and technical direction of the platform. Prior to founding Cybric, Mike was Yahoo's CIO and SVP of Infrastructure, where he led the IT and Data Center functions for the company. He has more than 24 years of IT Operations experience with a focus on highly-scalable architectures.
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...