GoldQuest Mining Granted New Exploration Licenses in Dominican Republic
TSX VENTURE: GQC
VANCOUVER, BC--(Marketwired - November 17, 2017) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (
"We are pleased that the Ministry continues to issue Exploration Licenses while we await our Exploitation License for Romero," commented Bill Fisher, GoldQuest's CEO and Executive Chairman. "The Company has over $25 million in treasury and is well funded to continue exploration and to advance towards a production decision at Romero, once the Exploitation License is granted."
Drilling continues at the 2017 Cachimbo gold discovery with assays pending from 4 holes. Recent drilling returned 21 metres grading 7.9 g/t gold, 40 g/t silver and 1.81% Zn (10.2 g/t gold equivalent(AuEq.*) within a wider envelope of 59 metres grading 3.3 g/t gold, 19 g/t silver and 0.73% Zn (4.4 g/t Au Eq.*) - see release of 17th October 2017 - and 26.6 metres grading 3.4 g/t gold, 22 g/t silver and 0.55% Zinc, (4.2 g/t AuEq.*) within a wider envelope of 95 metres grading 1.6 g/t gold, 8 g/t silver and 0.16% Zn (1.9 g/t Au Eq.*) - see release of 26th October 2017. The mineralization is open in all directions.
The information in this press release has been reviewed and approved by William Fisher, P. Geo., CEO and Executive Chairman of GoldQuest and a Qualified Person for the technical information in this press release under NI 43‐101 standards.
GoldQuest is a Canadian based mineral exploration and development company with projects in the Dominican Republic. GoldQuest is traded on the TSX‐V under the symbol GQC and in Frankfurt/Berlin with symbol M1W. The Company is well funded to carry out the exploration programs reported on in this release and to advance the development of its Romero gold/copper discovery, also located in the Tireo Formation of the Dominican Republic.