GoldQuest Provides Update on Dominican Los Comios Project
HIGHLIGHTS
- Recent rock sampling from Los Comios project returns values up to 5.37 g/t Au from silicified sedimentary rocks;
- Los Comios district continues to develop as new areas of mineralisation and alteration are discovered; and
- GoldQuest will be presenting at the AGORACOM Online Gold & Commodities Conference.
Alistair Waddell, President & CEO of GoldQuest, commented, “We are extremely encouraged at the latest results which continue to expand the Los Comios district. We believe the scale and nature of the alteration is indicative of porphyry type environment and the Company will continue to explore the district in greater detail”.
LOS COMIOS PROJECT: GoldQuest has completed follow up of several zones of alteration discovered on its 100% owned Los Comios project described in the news release dated October 7, 2009. The principal target called Los Lechones is focused on a gold-molybdenum ridge-and-spur soil anomaly that consists of a continuous line of 11 samples taken at twenty-five meter intervals with an average grade of 0.22 g/t Au and 9.31 ppm Mo. These samples were taken as part of a programme that comprised of 178 samples. The line of anomalous soil samples obliquely traverses a zone of silicified, brecciated sediments that have been geologically mapped over an area of approximately 800 by 120 meters. Recent rock chip sampling from this zone has returned values up to 5.37 g/t Au from intensely silicified sediments which are interpreted to be limestones. From a programme consisting of 50 rock samples the average grade returned 0.26 g/t Au and 17.6 ppm Mo from either silicified sediments or the juxtaposing silicified andesitic volcanics. One sub-crop sample of silicified, laminated sediment taken from a separate zone 850 meters further to the northwest of Los Lechones returned 0.67 g/t Au.
The second zone of alteration called La Guamita is located 1.8 km to the south east of Los Lechones and occurs at a contact between andesitic volcanic rocks and a diorite intrusion with approximate dimensions of 300 by 200 meters. The La Guamita zone has disseminated pyrite with intense quartz-sericite alteration with eight rock samples from this zone returning values between 0.11 and 0.37 g/t Au from a programme comprising of 47 samples. A third zone of intense alteration discovered approximately 1 km to the north of La Guamita did not return any significant sample values.
The Los Lechones and La Guamita zones are located approximately five kilometres northwest of the Los Comios copper-gold anomaly previously described in a Company news release dated August 5, 2009. The gold-copper anomaly has been defined by 330 rock and float samples with 118 returning values greater than 0.1% copper including 59 greater than 1% copper and 6 greater than 10% copper with a maximum value of 34.6%. Rock float samples have returned values up to 17.0 g/t gold and 1.3% zinc. The strongest mineralized samples originate from either side of a large topographic high which is coincidental with a strong positive airborne magnetic anomaly located east of the Los Lechones and La Guamita zones. The Company intends to complete a more focused exploration programme to systematically explore the greater Los Comios district in further detail and believes the area has the potential to host porphyry style mineralisation.
The Company continues to prioritise, critically review and explore the portfolio of gold and copper targets including those that were formally part of the Gold Fields funded joint venture.
AGORACOM Online Gold & Commodities Conference: GoldQuest is pleased to announce it has been invited to present in the first ever AGORACOM Online Gold & Commodities Conference ( http://agoracom.com/conferences ) on December 3rd and 4th, 2009. Presenting companies are limited to a maximum of 50 and selected by invitation only in order to maintain a high standard of quality for attending investors. Presenting companies will be active in industries that include precious metals, base metals, rare metals, oil & gas and clean energy technologies. Keynote Speakers at the conference are Peter Grandich, Barry Ritholtz, Paul Kedrosky, Eric Coffin, Jean-Francois Tardif and Gregor Macdonald.
CONFERENCE DETAILS WHERE: Online - http://agoracom.com/conferences WHEN: December 3rd and 4th, 2009 PRESENTATION: Please see schedule ( http://bit.ly/AGconfsched ) for our exact presentation time on each day REGISTRATION: Investors Register for free ( http://agoracom.com/conferences ) using form in right hand column of any page FORMAT: 15-minute presentation followed by live Q&A in monitored HUB TECH REQUIRED: Your web browser
