Chart usGOLD   Chart usSILVER  
 
Food for thought
A gold mine is a hole in the ground with a liar at top and a fool at the bottom
Mark Twain  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1172.59-0.01
Silver 16.13-0.02
Platinum 1232.000.75
Palladium 788.20-1.55
WORLD MARKETS
DOWJONES 17391182
NASDAQ 463165
NIKKEI 16414756
ASX 550548
CAC 40 423392
DAX 9327212
HUI 156-8
XAU 65-3
CURRENCIES (€)
AUS $ 1.4228
CAN $ 1.4106
US $ 1.2521
GBP (£) 0.7830
Sw Fr 1.2056
YEN 140.6600
CURRENCIES ($)
AUS $ 1.1371
CAN $ 1.1268
Euro 0.7987
GBP (£) 0.6254
Sw Fr 0.9626
YEN 112.2900
RATIOS & INDEXES
Gold / Silver72.70
Gold / Oil14.81
Dowjones / Gold14.83
COMMODITIES
Copper 3.07-0.01
WTI Oil 79.20-1.32
Nat. Gas 3.890.06
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
GoldQuest: Drilling Update at Las Tres Palmas, Dominican Republic
Published : February 22, 2013
( 0 vote, 0/5 ) Print article
     
Tweet

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2013) - GoldQuest Mining Corp. (News - Market indicators)(FRANKFURT:M1W)(BERLIN:M1W) ("GoldQuest" or the "Company") is pleased to announce assay results from three additional holes in the Romero gold/copper discovery zone on the Company's 100% owned Las Tres Palmas trend in the Dominican Republic.

Drilling highlights include:

  • LTP-123 contained 68 metres grading 1.76 g/t gold and 0.29% copper (2.23 g/t gold equivalent*) within a mineralized zone of 138 metres grading 1.00 g/t gold and 0.20% copper (1.33 g/t gold equivalent)
  • LTP-124 contained 48 metres grading 1.21 g/t gold and 1.02% copper (2.88 g/t gold equivalent)

These are the last results from the phase of drilling targeting the shallow Induced Polarization ("IP") interpretation that discovered the Romero Mineralization. Future drilling will be guided by new, ongoing deep geophysical data. New data collected this year has identified two distinct east-west trending target zones at Romero. Drilling to date has focused on the Romero North zone where highlights include LTP-94 which returned 235 metres grading 7.9 g/t gold and 1.4% copper (10.2 g/t gold equivalent). Romero South, a newly identified trend, is essentially untested and returned a stronger and shallower chargeability anomaly than Romero North.

"We are pleased by the continued positive drilling results and the confirmation of our targeting approach," commented Julio Espaillat, GoldQuest's Chief Executive Officer. "Our geological modeling will assist us in seeking additional mineralization both at Romero and along the entire Las Tres Palmas trend."

The results from the new holes are summarized in the table below:

Hole From (m) To (m) Interval (m) Au (g/t) Cu (%) AuEq (g/t)*
LTP - 122 195.24 294.00 98.76 0.41 0.12 0.61
LTP - 123 134.00 272.00 138.00 1.00 0.20 1.33
Including 172.00 240.00 68.00 1.76 0.29 2.23
and 338.00 424.00 86.00 0.28 0.09 0.43
LTP - 124 144.00 158.00 14.00 1.14 0.11 1.32
and 254.00 302.00 48.00 1.21 1.02 2.88

*Note: All the results and sub intervals summarized in the table above have a bottom cut-off of 0.15 g/t of gold. A top cut of 50 g/t gold is used, however no samples in this release exceeded 50 g/t. The intervals may not represent true mineralization widths and the exact orientation of the mineralization at this stage of the drilling is not yet known, although the host volcanic lithologies are sub-horizontal in orientation. Gold equivalent values calculated using a 3-year trailing average price of $1616 US/ounce for gold and $3.85 US/pound of copper as of January 15, 2013. No adjustment has been made for metallurgical recovery, as these remain uncertain at this time. Gold Equivalent formula: AuEq g/t= [(Cu% x 22.0462 x 3.85)/(1616/31.1035)].

Of the three holes released today, LTP-122 tested the area between the Romero North and South trends. The mineralization extends in a southeast direction where previous shallow holes left this area unknown. LTP-123 was an infill hole in Romero North and LTP-124 was drilled at the eastern end of Romero North (see plan map with Romero Drill locations at: http://goldquestcorp.com/images/romero-new3_feb2013.jpg (note: IP line 100E will be surveyed once drills have been deployed elsewhere, as IP survey results would not be accurate with active drilling in the vicinity)).

Currently, LTP-125 is in the lab and was drilled at the Escandalosa North Zone. LTP-126 is also in the lab and was drilled at the eastern end of Romero North. LTP-127 has been collared at Romero North's northern flank which currently remains open, and is currently drilling. LTP-128 is currently drilling an IP target at Escandalosa North and LTP-129 is drilling between Romero North and newly discovered Romero South (see plan map located at: http://goldquestcorp.com/images/PlanMapEscandalosa4_feb2013.jpg).

The individual two metre assay intervals from all holes on drilled on the Las Tres Palmas trend are available at: http://goldquestcorp.com/images/pdf/Assay_Au_Cu_Zn_S_feb2013.pdf, in addition the collar locations and hole azimuth and dips for all Las Tres Palmas holes can be reviewed at: http://goldquestcorp.com/images/pdf/LTP_HOLES_FEB20_2013.pdf.

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. The potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

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 below the recommended tolerances. The samples in this batch are being re-assayed and the Company is awaiting the results from these samples. Any future resource calculations will be calculated from compliant intervals, and if there is any material variation from the reported intervals on a hole by hole basis, then the Company will report this in subsequent releases, but it is of the opinion of the Company that any variations are unlikely to be material.

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 information 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 (154,856,571 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.

GoldQuest Mining Corp.
Julio Espaillat
President & Chief Executive Officer
+1-829-919-8701
jespaillat@goldquestcorp.com
or
GoldQuest Mining Corp.
Sebastian de Kloet
Investor Relations - Toronto
+1-416-214-9151
investorrelations@goldquestcorp.com
www.goldquestcorp.com
Data and Statistics for these countries : Chile | Dominican Republic | All
Gold and Silver Prices for these countries : Chile | Dominican Republic | All
Tweet

Goldquest Mining Corp.

EXPLORATION STAGE
CODE : GQC.V
ISIN : CA38144C1005
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Email Alert Add to Watchlist Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy
Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Goldquest Mining Corp.
2007 Annual report
Financings of Goldquest Mining Corp.
8/22/2012Closes $15 Million Bought Deal Private Placement
8/2/2012Announces $10 Million Bought Private Placement
6/22/2012Closes Financing
5/30/2012GQC Bought Private Placement
Option Grants of Goldquest Mining Corp.
1/22/2011GoldQuest Appoints Bill Fisher as Chairman; Issues 300.000 S...
7/19/2010Grants Incentive Stock Options
4/3/2009Grants Incentive Stock Options
5/10/2007Grants Incentive Stock Options
4/19/2006grants stock options
Nominations of Goldquest Mining Corp.
5/22/2013Appoints Frank Balint to Its Board of Directors, Enters Into...
9/24/2010Corporate Update And Appointment Of New Chief Financial Offi...
7/5/2010Appoints William Fisher To Its Board Of Directors
Project news of Goldquest Mining Corp.
8/27/2012intercepts significant mineralization at Romero=2C Dominican...
7/30/2012GQC intesects significant mineralization at Romero=2C Domini...
7/18/2012GQC Intersects Mineralization at Romero of 159m grading 4.45...
5/30/2012GQC Deploys Drill Rig to Site of Romero Discovery
5/23/2012Release Drill Results Including 231 metres @ 2.4 g=2Ft Gold
1/11/2012GQC Drill Results Press Release
11/11/2011terminates business combination transaction with Takara Reso...
11/9/2011=?utf-8?Q?GoldQuest_Mining_Corp_(TSX-V:_GQC)_announces_that_...
5/16/2011(La Escalandosa)Drilling Intercepts 29.0 Metres Grading 2.18 g/t Gold At Hon...
3/2/2011(Toral)Announces Initial Resource Estimate for Toral Zinc-Lead-Silv...
11/16/2010(La Escalandosa)Announces An Initial Inferred Resource Of 0.4 Million Ounces...
12/3/2009(Los Comios)Provides Update on Dominican Los Comios Project
10/7/2009(Jengibre)Samples 59.50 meters Grading 1.58 g/t Gold From Dominican Je...
5/7/2009(Las Animas)Reports Mineral Resource For Las Animas Massive Sulphide Pro...
3/30/2009(Toral)Acquires Spanish Lead-Zinc-Silver Project
12/22/2008(Las Animas)GoldQuest Reports Drill Results From New Gold Zone at Las An...
12/22/2008(Las Animas)Reports Drill Results from New Gold Zone at Las Animas
9/26/2008(El Toro)Reports High Grade Gold Samples From El Toro
7/22/2008(Las Animas)Expands Dominican Las Animas Project
2/15/2008(Las Animas)Expands Las Animas Massive Sulphide Project and Defines New ...
11/26/2007(Las Animas)Announces Further Drill Results from Las Animas
10/18/2007(Cerro Dorado)Provides Update on Exploration Alliance with Gold Fields and...
8/29/2007(Las Animas)Intercepts 19.09 Meters Grading 3.07% Cu, 3.91% Zn, 2.03 g/t...
6/6/2007(Las Animas)Intercepts 142 Meters Grading 2.59% Cu, 1.91% Zn and 2.50 g/...
3/1/2006(Las Animas)More high grade samples from Las Animas massive sulfide depo...
Corporate news of Goldquest Mining Corp.
10/29/2013Reports Maiden Resource Estimate from Romero and Update at R...
10/2/2013Reports Romero Results from In-Fill Drilling and Provides Ex...
8/21/2013Reports 47.0 m Grading 6.90 g/t Gold and 0.94 % Copper (Gold...
7/9/2013Reports 34.0 m Grading 10.94 g/t Gold and 1.87% Copper (Gold...
6/24/2013Reminder-GoldQuest Mining: Annual General Meeting
6/24/2013Reminder-GoldQuest Mining: Annual General Meeting
6/13/2013Reports 28.5 m Grading 10.1 g/t Gold (Uncut) at La Escandalo...
5/16/2013Drilling Results at Las Tres Palmas, Dominican Republic. Com...
4/12/2013Drill Results at Las Tres Palmas, Dominican Republic and Ext...
3/27/2013Discovers New Geophysical Trend Two Kilometers from the Rome...
3/11/2013Grants Incentive Stock Options
2/22/2013Drilling Update at Las Tres Palmas, Dominican Republic
2/11/2013Announces 30,000 Metre Drill Program at Romero and Along Las...
1/17/2013Releases Drill Results at Las Tres Palmas, Dominican Republi...
12/20/2012Announces Results from Induced Polarization (IP) Survey; Fou...
11/27/2012Releases Drill Results at Las Tres Palmas, Dominican Republi...
10/30/2012Releases Drilling Results From Romero, Dominican Republic; I...
10/11/2012Expands Mineralization Footprint at Romero, Dominican Republ...
9/25/2012Drill Results at Romero, Dominican Republic; Includes Deepes...
9/11/2012ANNOUNCES ARRIVAL OF 700 METRE CAPABLE DRILL RIG AT ROMERO=2...
8/20/2012Files Updated Technical Reports
7/12/2012Deploys Second Drill Rig and Suggests Initial Interpretation
6/12/2012Geophysical Report
6/8/2012(TSX-V: GQC) announces that it has commenced its new drill p...
6/8/2012Drill Program June=2FJuly 2012
5/2/2012GQC Press Release
3/5/2012GQC Press Release
12/16/2011GQC Press Release
10/27/2011Portex Minerals Inc. Announces Memorandum of Understanding t...
8/24/2011GQC Press Release
7/19/2011Announces Granting of Lago Concession in Spain and Initiatio...
7/13/2011Announces Results of the Annual Meeting of Shareholders
6/8/2011Post Meeting Materials For The Annual Meeting Of Shareholder...
6/6/2011Announces The Granting Of Loma Oculta Exploration Concession...
4/19/2011Drilling Intercepts 36.5 Meters Grading 2.74 G/T Gold At La ...
12/24/2010provides accelerated expiry notice to warrant holders.
7/7/2010Drilling Intercepts 26 Metres Grading 11.4 g/t Gold And 53 M...
6/2/2010Prospective Board and Chief Executive Changes and Schedules ...
4/20/2010Favourable Legal Ruling in Spain
4/12/2010Closes Second Tranche of Financing
4/1/2010Closes First Tranche Of Financing
1/15/2010Closing of Acquisition of Spanish Lead-Zinc-Silver Project
11/18/2009Completes Transaction with Gold Fields
8/14/2009Recieves Tsx Approval For Gold Fields Transaction
8/6/2009Acquires 100% Interest In Dominican Portfolio
7/7/2009Announces Board Changes
12/24/2008And Gold Fields To Restructure Dominican Exploration Agreeme...
9/16/2008Gold Fields Commences Drilling On Goldquest Projects
3/5/2008 New Gold Discovery In Dominican Republic And Update On Gold...
3/23/2007SIGNS FORMAL AGREEMENT WITH GOLD FIELDS
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (GQC.V)FRANKFURT (M1W.F)
0.110-4.35%0.123+10.81%
TSX-V
CA$ 0.110
10/31 15:59 -0.010
-4.35%
Prev close Open
0.115 0.115
Low High
0.105 0.115
Year l/h YTD var.
0.110 -  0.370 -59.26%
52 week l/h 52 week var.
0.110 -  0.370 -65.63%
Volume 1 month var.
606,892 -31.25%
24hGold TrendPower© : -44
Produces
Develops
Explores for Copper - Gold - Lead - Silver - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
TOP NEWSRELEASES
Annual variation
DateVariationHighLow
2014-56.00%0.390.24
2013-59.68%0.810.22
2012675.00%2.030.04
2011-78.38%0.490.06
2010184.62%0.430.09
 
5 years chart
 
3 months chart
 
3 months volume chart