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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/17/13 -- GoldQuest Mining Corp. (TSX VENTURE: GQC)(FRANKFURT: M1W)(BERLIN: M1W) ("GoldQuest" or the "Company") is pleased to announce an exploration update including assay results from nine additional holes from its ongoing drill program at the Romero gold/copper discovery on the Company's 100% owned Las Tres Palmas trend in the Dominican Republic.
Drilling highlights include:
-- LTP-116 which contained 85.0 metres grading 0.79 g/t gold and 0.89% copper (2.24 g/t gold equivalent)-- LTP-118 which contained 48.78 metres grading 2.06 g/t gold and 0.71% copper (3.32 g/t gold equivalent) within a mineralized envelope of 217.5 metres grading 0.74 g/t gold and 0.4% copper (1.39 g/t gold equivalent)-- LTP-120 which contained 57.0 metres grading 2.16 g/t gold and 0.85% copper (3.35 g/t gold equivalent) within a mineralized envelope of 237.0 metres grading 0.67 g/t gold and 0.43% copper (1.37 g/t gold equivalent)
"We continue to test a large geophysical anomaly which has been the best method for us to date and will continue to do so moving forward," commented Julio Espaillat, GoldQuest's Chief Executive Officer. "Recent drilling continues to validate our interpretation of a North-west to South-east mineralized corridor and we are encouraged that our ongoing deep Induced Polarization survey will generate sufficient targets for our 2013 drill program."
The results from the new holes are summarized in the table below:
---------------------------------------------------------------------------- Gold Gold From To Interval (g/t) Copper EquivalentHole_ID (m) (m) (m) Uncut (%) (g/t)----------------------------------------------------------------------------LTP-113 No significant results--------------------------------------------------------------------------------------------------------------------------------------------------------LTP-114 237.0 301.0 64.0 0.93 0.16 1.19--------------------------------------------------------------------------------------------------------------------------------------------------------LTP-115 No significant results--------------------------------------------------------------------------------------------------------------------------------------------------------LTP-116 243.0 328.0 85.0 0.79 0.89 2.24--------------------------------------------------------------------------------------------------------------------------------------------------------LTP-117 173.0 239.0 66.0 0.47 0.16 0.73--------------------------------------------------------------------------------------------------------------------------------------------------------LTP-118 201.0 418.5 217.5 0.74 0.4 1.39---------------------------------------------------------------------------- including---------------------------------------------------------------------------- 273.22 322.0 48.78 2.06 0.71 3.22--------------------------------------------------------------------------------------------------------------------------------------------------------LTP-119 No significant results--------------------------------------------------------------------------------------------------------------------------------------------------------LTP-120 73.0 104.84 31.84 1.02 0.03 1.07---------------------------------------------------------------------------- and---------------------------------------------------------------------------- 131.0 165.0 34.0 0.32 0.22 0.68---------------------------------------------------------------------------- and---------------------------------------------------------------------------- 183.0 420.0 237.0 0.67 0.43 1.37---------------------------------------------------------------------------- including---------------------------------------------------------------------------- 335.0 392.0 57.0 2.16 0.85 3.55--------------------------------------------------------------------------------------------------------------------------------------------------------LTP-121 Hole stopped due to drilling problems----------------------------------------------------------------------------
