GQC...MONSTA NEWSSSSSSSSSWAY BETTER THAN GCR.V
GoldQuest Intercepts 142 Meters Grading 2.59% Cu, 1.91% Zn and 2.50 g/t Au at Las Animas
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 6, 2007) - GoldQuest
Mining Corp. ("GoldQuest" or the "Company") (TSX
VENTURE:GQC)(FRANKFURT:M1W) 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.
/T/
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From To Length Gold Silver Copper Zinc
Hole (m) (m) (m) (g/t) (g/t) (%) (%)
---------------------------------------------------------------
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.
/T/
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.
On behalf of the Board of Directors
David Hall
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
GoldQuest Mining Corp.
Mr. David Hall
President & Chief Executive Officer
+353-1-661-3309 (Dublin)