GoldQuest provides exploration update on Tireo Project, Dominican Republic
Vancouver, BC–(Marketwired – June 15, 2016) – GoldQuestMining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W)("GoldQuest" or the "Company") is pleased to provide anupdate on the ongoing exploration program over its 100% owned Tireo Project inthe Dominican Republic. Recent ground induced polarization (IP) geophysics andmapping work has focused on the southern portion of the gold belt inpreparation for an upcoming 10,000 metre exploration drilling program.
Drilling on IP chargeability high anomalies led to thediscovery of the Romero deposit and thus is a key exploration tool in theregion. As a result, GoldQuest has applied a systematic exploration programtargeting prospective geological trends with mapping and ground geophysics,including IP, resistivity and magnetics.
To date, the IP program has confirmed five newchargeability high trends, all coincident with favorable alteration andgeochemistry in outcropping rocks. These trends include a continuous 17kilometer anomaly which extends south from the Romero deposit in the centralportion of the belt as well as four new sub-parallel of anomalies in thesouthern portion of the gold belt.
"Over the past eighteen months we have built up asubstantial inventory of exploration targets in the Tireo Gold Belt. Withgroundwork in advance of drilling now nearing completion, we eagerly anticipatecommencing drilling in August," commented Bill Fisher, GoldQuest’sChairman. "Discovering the Romero deposit has uniquely positioned our teamto carry out a comprehensive and detailed exploration program. The program hasled to identification of numerous targets which will be ranked andsystematically tested in our upcoming drilling program as we seek a newdiscovery in the belt."
In other news, the Company’s Annual General Meeting will beheld at 10am on 16th June at Blakes, Cassels & Graydon LLP at 199 BayStreet, Suite 4000 in Toronto, Ontario. The CEO and senior management will bepresent to update shareholders of the Company’s developments, including theexploration outlined in this release, and on progress of the Pre-FeasiblityStudy which is expected to be completed at the end of the summer.
The information in this press release has been reviewed andapproved by Mr. Jeremy Niemi, P. Geo., Vice President, Exploration of GoldQuestand a Qualified Person for the technical information in this press releaseunder NI 43-101 standards.
On Behalf of the Board of Directors of GoldQuest MiningCorp.,
Bill Fisher, Chairman
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