GOLDQUEST INTERCEPTS 142 METERS
GRADING 2.59%Cu, 1.91% Zn AND 2.50 g/t Au AT LAS ANIMAS
VANCOUVER, BC, JUNE 6, 2007 –
GoldQuest Mining Corp. (“GoldQuest” or the “Company”)
is pleased to announce the results of the first four drill holes from its Phase
II diamond drill programme on its 100% owned Las Animas project in the Dominican
Republic.
The 2,000 meter programme is currently drilling targets along the
strike of the previous drilled massive sulphide horizon (Reported in Press
Releases - December 11, 2006 & February 5, 2007) and testing additional zones,
including new gossan discoveries, soil geochemical anomalies and geophysical
targets. Results for the first four drill holes
(LA-07 to LA-10) totalling 671.91 meters have been received. Highlights
are as follows:
- Massive sulphide and
stockwork intersection of 142 meters of 2.59% Cu, 1.91% Zn and 2.50 g/t
Au;
- Drilling extends
massive sulphide to over 275 meters below surface;
- Mineralization
thickened due to folding;
- Mineralization still
open at depth and to west;
Drill hole LA-10 was drilled 56 meters north of
LA-06 on the same geological cross section with an azimuth of 180 degrees and
an inclination of -60 degrees in order to test the continuity of sulphides at
depth below the gossan intercepted in hole LA-06.
The hole intersected massive sulphides consisting of chalcopyrite,
sphalerite and pyrite vertically below the gossan of
LA-06. The hole then continued in massive sulphides and sulphide-rich sericite
schist to a depth of 304.00 meters, giving an intersection of 140.98 metres
width to a vertical depth of 275 metres below surface.
The massive sulphide and stockwork interval returned:
- 142.00m grading 2.50 g/t Au, 36.58 g/t Ag, 2.59% Cu
and 1.91% Zn from 162.00m to 304.00m.
Including,
- 14.56m grading 4.20 g/t Au, 85.99 g/t Ag, 3.13% Cu
and 3.29% Zn from 163.02m to 177.58m
And
- 105.98m grading 2.72 g/t Au, 36.75 g/t Ag, 2.29% Cu and 2.09% Zn from
198.02m to 304.00m.
This drill intercept can be explained by folding and
structural thickening of the massive sulphide layer in an asymmetric S-shaped
fold (looking east), with a near vertical body on the upper and lower fold
limbs, and an intermediate limb with a similar dip as the drill hole. The
remainder of the hole was in pyritic sericite schist to the final depth of
330.79 meters. The Company wishes to emphasise that
the actual geometry of the massive sulphide body will not be defined until
further drilling has been undertaken. A perpendicular “scissor
hole” will be completed on the same section (drilled to the north) as
drill hole LA-10 to clarify the true thickness of this new massive sulphide zone
discovered at depth.
Hole LA-07 was drilled 45 meters east of Holes LA-01
and 02 and intercepted a thin horizon of gossan at the sediment-volcanic
contact. The gossan returned 0.51m grading 2.62 g/t Au from 46.05m and the
footwall volcanics returned 23.44m grading 0.36 g/t Au from 46.56m, including
10.00m at 0.55 g/t Au from 56.00m.
Hole LA-08 was a short 55.81 meter hole drilled to the
south on the same section as holes LA-01, 02, 03, 04 and 05. The hole
intercepted sanded barite gossan, gossanous sediments and sericite schist at the
sediment-volcanic contact that returned 16m grading 3.01 g/t Au and 19.08 g/t
Ag in oxide from surface, including 2.81m grading 12.24 g/t Au and 35.57 g/t Ag
in gossan from 12.19m. Base metals have been leached from this interval. The rest of the hole is in pyritic sericite schist and gave 0.28 g/t
Au and 3.53 g/t Ag over 39.81m from 16.00m, including a semi-massive sulphide
intersection of 4.44m grading 0.63 g/t Au and 6.06 g/t Ag from 36.26m.
Hole LA-09 was drilled to test a conductive
geophysical target located 80 meters southeast of holes LA-05 and intercepted
sericite-pyrite altered rhyolite volcanic rocks with a maximum value of 0.63
g/t Au.
Drilling is ongoing and will test a number of other targets including the
new gossans discovered some 450 meters along strike to the west that returned 21.30 g/t and 9.17 g/t gold (Press release May 8, 2007), geophysical,
geochemical targets and step-out holes from hole LA-10.
Results from the ongoing drilling will be released as soon as they are
received. Further information including updated maps and cross sections will
be posted on the GoldQuest website shortly.
Hole
|
From
(m)
|
To (m)
|
Length
(m)
|
Gold
(g/t)
|
Silver
(g/t)
|
Copper
(%)
|
Zinc
(%)
|
LA-07
|
0.00
|
4.00
|
4.00
|
1.51
|
3.56
|
0.03
|
0.01
|
|
46.05
|
46.50
|
0.51
|
2.63
|
170.50
|
0.04
|
0.01
|
|
46.50
|
70.00
|
23.44
|
0.37
|
23.00
|
0.05
|
0.24
|
including
|
56.00
|
66.00
|
10.00
|
0.55
|
19.82
|
0.03
|
0.43
|
LA-08
|
0.00
|
16.00
|
16.00
|
3.01
|
19.08
|
0.05
|
0.03
|
including
|
12.19
|
15.00
|
2.81
|
12.24
|
35.57
|
0.10
|
0.40
|
|
16.00
|
55.81
|
39.81
|
0.28
|
3.52
|
0.05
|
0.01
|
including
|
35.56
|
40.00
|
4.44
|
0.63
|
6.06
|
0.08
|
0.01
|
LA-09
|
138.00
|
140.00
|
2.00
|
0.64
|
3.22
|
0.06
|
0.05
|
LA-10
|
162.00
|
304.00
|
142.00
|
2.50
|
36.58
|
2.59
|
1.91
|
including
|
163.02
|
177.58
|
14.56
|
4.20
|
85.99
|
3.13
|
3.29
|
and
|
198.02
|
304.00
|
105.98
|
2.72
|
36.75
|
2.29
|
2.09
|
Table 1: Length-weighted average grades of drill holes. Note that the
lengths are drill intersection widths and that there is still insufficient data
to calculate true widths of the massive sulphide body. In the case of core
duplicates and repeat analyses, the average value has been used.
About GoldQuest
GoldQuest is an Exploration company focused on the Dominican Republic. Through
regional grass-roots generative exploration and new geological models the
Company has built a portfolio of new gold and copper discoveries.
Dr Stewart D. Redwood, FIMMM, Consulting Geologist to
the Company is the qualified person as defined by National
Instrument 43-101 and has reviewed the content of this press release. Preparation and geochemical analyses of all samples were carried out
by ALS Chemex, Vancouver.
Standards, blanks and duplicates are routinely inserted into all sample batches
for quality assurance and quality control.
GoldQuest is traded on the TSX-V under the symbol GQC.V and in Frankfurt with symbol M1W.
For more information please contact:
Mr. David J.
Hall Mr.
Alistair Waddell
President & Chief Executive Officer Executive
Vice President
Tel: +353-1-661-3309 (Dublin) Tel:
778-994 6111 (Vancouver)
www.goldquestcorp.com
investorrelations@goldquestcorp.com
On behalf of the Board of Directors
”signed” David Hall
The TSX
Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.