GoldQuest announces 30,000 metre drill program at Romero and along Las Tres palmas trend
Tuesday, Feb 12, 2013
GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) ("GoldQuest" or the "Company") is pleased to announce it has commenced a 30,000 metre drilling program on the Las Tres Palmas trend, Dominican Republic. The Las Tres Palmas trend is notable for the discovery of the Romero mineralization, where drilling highlights included hole LTP 94 returning 235 metres grading 7.9 g/t gold and 1.4% copper (see the Company's press release of August 27th 2012).
New drilling will continue to expand Romero and test high priority targets along the trend. In addition, an ongoing deep Induced Polarization ("IP") survey is being used to expand coverage of the Las Tres Palmas trend and gain knowledge of additional targets within the Company's 50 km long Tireo Formation land package.
"Since the Romero discovery, the Company has focused drilling within the Romero area while thoroughly interpreting recent and historical data to develop new targets," commented Julio Espaillat, the Company's CEO. "With newly completed lines from the IP survey, the Company is able to compare multiple new IP targets with those previously drilled at Romero. High priority targets extend across a distance of over four kilometres, including the highest chargeability anomaly to date which did not show up in the shallower exploration techniques."
The IP program is valuable to the development of drill targets considering that Romero is a "blind" discovery, meaning it does not reach the surface. To date, all chargeability anomalies have coincided with sulfide mineralization, although the technique does not readily differentiate between the iron rich pyrite mineralization and the copper rich chalcopyrite mineralization seen at Las Tres Palmas. Previous drilling located near the new, deep IP lines suggests that the strongest gold and copper mineralization is found in zones surrounding the strongest IP anomalies, in sections up to several hundred metres in length.
While drilling continues to delineate the Romero mineralization, particularly in the Southeast quadrant of the original IP anomaly, new targets are being aggressively pursued. These targets are considered prospective in light of geological and geophysical precedent at Romero, all displaying strong chargeability and substantial size. See sections showing new IP drill targets at: http://goldquestcorp.com/images/nr/New_L400W_&_L200W.jpg. For additional IP cross sections please see the Company's press release dated Jan. 17, 2013.