Welcome!

News Feed Item

GoldQuest: Exploration and Metallurgical Update for Tireo and Romero Projects, Dominican Republic

VANCOUVER, BC--(Marketwired - September 04, 2014) - GoldQuest Mining Corp. (TSX VENTURE: GQC)(FRANKFURT: M1W)(BERLIN: M1W) ("GoldQuest" or the "Company") is pleased to announce an exploration update and confirmatory metallurgical data for its 100% owned Tireo and Romero projects in the Dominican Republic.

Highlights:

  • Encouraging copper results from Guama target
  • Two new drill targets identified through ground geophysical survey and mapping
  • Confirmation of 93% recovery of pyrite concentrate at Romero

"The 2014 exploration campaign is now in full swing and we are encouraged by the presence of a copper zone at the Guama target and the development of two new drill targets on our Tireo Project," commented Julio Espaillat, GoldQuest's CEO, "We plan to return to the northern Guama area in the 2014 drilling program, testing at least 7 targets. Currently our drilling focus is on the La Bestia target".

The three holes included in this second batch of holes released from the 2014 exploration program were completed on a series of targets in the Guama area. The most northern hole, LTP-164 is located over 2.5 kilometres north of Romero, and considered indicative of a newly identified mineralizing event. The hole intersected a copper interval of 0.29% copper over 10.7 meters from 47.2m below surface and a second zone of 1.5 meters of 1.23% copper starting at 97.5 meters below surface, Additional drilling is planned at stronger chargeable targets to the north of LTP-164 during the 2014 campaign. The other two holes did not return significant mineralization.

In addition to the active drill campaign at La Bestia, the Company continues to develop new drilling targets through its ground program throughout the Tireo Project. Mapping combined with ground IP (induced polarization) using Insight Geophysics has identified two new targets in recent weeks. New targets include an area 500 meters west of the La Bestia target and another to the south of the Romero South deposit.

The target west of the main La Bestia zone is made up of a broad chargeability high of over 1.5 kilometers wide and over 2 kilometers in length and remains open to the north-west and south. The new target south of Romero South was identified in the past few days and the survey crew is currently defining the extents this target. Both new targets were identified by systematically surveying and mapping favorable ground identified in the airborne ZTEM survey flown in early 2014.

The updated map, including the latest drilling locations, geophysics, and targets at the Guama and La Bestia targets can be found here: http://www.goldquestcorp.com/images/maps/GQC_IPMap-Targets-Sept42014.pdf

---------------------------------------------------------------------------
    Hole ID        From (m)        To (m)      Interval (m)     Copper %   
---------------------------------------------------------------------------
    LTP-162                   No   significant intersections               
---------------------------------------------------------------------------
    LTP-163                   No   significant intersections               
---------------------------------------------------------------------------
    LTP-164              47.24          57.91          10.67           0.29
---------------------------------------------------------------------------
                         97.54          99.06           1.52           1.23
---------------------------------------------------------------------------

The copper mineralization reported in the table above may not represent true mineralization widths and additional drilling will be required to determine the extents, orientation and whether potentially economic concentrations occur at the target. Copper values are not capped at an upper value for the calculation of the average grade for the interval. Holes LTP-162 and LTP-163 are vertically drilled holes, and LTP-164 is inclined with a dip of -70 degrees and an azimuth of 190 degrees.

The Company has completed two additional holes and has a third hole in progress at the La Bestia target. The Company will continue to release new drill hole results in batches as their analysis is completed. ACME Labs have been instructed to release assays to the Company only once the batches have been completed.

Metallurgical update
In the Preliminary Economic Assessment (PEA) for the Romero Project, filed July 16th 2014 on SEDAR, Micon International, independent engineers, reported on a potential flow sheet, where 92% of the copper reported to the copper concentrate along with 51% of the gold. A second concentrate, mainly consisting of the mineral pyrite, was produced, containing 32% of the gold, which was deemed suitable for bioleaching to recover the gold. At the time of the PEA report the bioleach work was in progress, by ALS's laboratory in Perth Australia. For the purposes of the PEA report, Micon estimated that the recoveries of gold from the pyrite concentrate were estimated at 93%. The laboratory has confirmed this 93% recovery with recommendations that may lead to further improvements. At this preliminary stage, total recoveries of metals into both concentrates are estimated to be a combined 81% for the gold and 92% for the copper.

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 no samples which had results outside of the recommended tolerances for copper or gold. 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 and a 0.001% detection limit for Cu 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. Copper values are determined using a hot 4-acid digest followed by an ICP-MS analysis. 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://www.goldquestcorp.com/index.php/corporate/corporate-governance.

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 with projects in the Dominican Republic traded on the TSX-V under the symbol GQC.V and in Frankfurt/Berlin with symbol M1W, with 145,755,044 shares outstanding (147,041,207 on a fully diluted basis), as at August 26, 2014.

Forward-looking statements:
This news release contains certain statements that may be deemed "forward-looking statements". 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", "indicate" 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.

Image Available: http://www.marketwire.com/library/MwGo/2014/9/4/11G021088/Images/GQC_IPMap-Targets-Sept42014-879835369141.jpg

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

GoldQuest Mining Corp.
Bill Fisher
Chairman -- Toronto
+1-647-271-4505
[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
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...
For better or worse, DevOps has gone mainstream. All doubt was removed when IBM and HP threw up their respective DevOps microsites. Where are we on the hype cycle? It's hard to say for sure but there's a feeling we're heading for the "Peak of Inflated Expectations." What does this mean for the enterprise? Should they avoid DevOps? Definitely not. Should they be cautious though? Absolutely. The truth is that DevOps and the enterprise are at best strange bedfellows. The movement has its roots in t...
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, provided a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services with...
Containers are rapidly finding their way into enterprise data centers, but change is difficult. How do enterprises transform their architecture with technologies like containers without losing the reliable components of their current solutions? In his session at @DevOpsSummit at 21st Cloud Expo, Tony Campbell, Director, Educational Services at CoreOS, will explore the challenges organizations are facing today as they move to containers and go over how Kubernetes applications can deploy with lega...
In their session at @DevOpsSummit at 21st Cloud Expo, Michael Berman, VP Engineering at TidalScale, and Ivo Jimenez, Engineer at TidalScale, will describe how automating tests in TidalScale is easy thanks to WaveRunner. They will show how they use WaveRunner, Jenkins, and Docker to have agile delivery of TidalScale. Michael Berman is VP Engineering at TidalScale. TidalScale is developing a scale up compute and resource architecture for customers to perform big data exploration and real time anal...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
I think DevOps is now a rambunctious teenager - it's starting to get a mind of its own, wanting to get its own things but it still needs some adult supervision," explained Thomas Hooker, VP of marketing at CollabNet, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
The “Digital Era” is forcing us to engage with new methods to build, operate and maintain applications. This transformation also implies an evolution to more and more intelligent applications to better engage with the customers, while creating significant market differentiators. In both cases, the cloud has become a key enabler to embrace this digital revolution. So, moving to the cloud is no longer the question; the new questions are HOW and WHEN. To make this equation even more complex, most ...