GoldQuest Mining Corp. [GQC-TSXV; M1W-Berline, Frankfurt] reported results of the first three drill holes of its recently completed six-hole 2015 drill program on its 100%-owned Romero gold/copper deposit in the Dominican Republic.
The holes were designed to move inferred material to the measured and indicated categories that will allow it to be included in feasibility level economic studies. All holes met or exceeded expectations in terms of grade and thickness, based on the existing mineral resource block model.
Highlights include LTP‐169 which intersected 43 metres of 7.9 g/t gold (cut) and 1.4 % copper, equalling some of the highest grades drilled at Romero, which included 8 metres grading 29.3 g/t gold (cut) and 2.2 % copper, and the best interval being 2m grading 119.7 g/t gold (uncut) and 5.24% copper. This interval exceeded expected grades and thickness based on the mineral resource block model. This intercept is estimated to be true width based on the known geometry of the zone.
In addition, hole LTP‐168 reported two separate intercepts of 85 metres grading 2.39 g/t gold and 0.41% copper and 48 metres grading 1.17 g/t gold and 0.46% copper.
“These first three holes tested areas of inferred resources, away from the high grade core of the Romero deposit. Hole LTP 169 exceeded our expectations based on the block model grades and highlights the potential to increase the amount of high grade material outside the core deposit area,” commented Julio Espaillat, President and Chief Executive Officer. “As we move the Romero Project forward it is anticipated that minimal further drilling, if any, will be needed for the pre‐feasibility study.”
See complete assays table son the company website. Maps at http://www.goldquestcorp.com/images/maps/GQC-Romero_Pre-Feas_holes_Sept30-15.pdf
The Romero pre‐feasibility drill program was designed to improve the confidence in the mineral resource estimate, collect geotechnical and hydrology data for the mine design and to supply material for the next phase of metallurgical test work. All holes have been completed with assays remaining from 3 holes. All of the holes have been logged for geotechnical data to refine the underground mine design and the geotechnical study by SRK Engineering is in‐progress. Immediately following the assaying of the half core samples, the remaining material was put in cold storage to prevent oxidation and thus provide reliable and readily available material for metallurgical testing planned for the pre‐feasibility study.
Holes LTP‐168 and LTP‐169 are crisscrossing angled holes which targeted an area of inferred mineral resources outside of the core of the Romero deposit which were included in the Preliminary Economic Assessment and scheduled to be mined in the early years of the mine. Hole LTP‐169 intersected higher than expected gold and copper grades and cuts through the deposit perpendicularly and thus the mineral interval represents the true width of the deposit in that area. Hole LTP‐168 was drilled at an angle to the north to gather geotechnical data close to the planned main ramp for the Romero mine and to improve confidence in the deposit. Hole LTP‐170 is a steeply dipping hole which targeted inferred resources approximately 300 metres to the south‐east of the core of Romero.
The company will release the results of the remaining 3 holes when their analysis is completed.