VANCOUVER, BC--(Marketwired - September 12, 2017) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) ("GoldQuest" or the "Company") is pleased to provide an update on the Company's regional exploration program. Recently the Company completed approximately 100-line kilometres of gradient induced polarization (IP) geophysics to the south-east of the Cachimbo Discovery which identified six new exploration targets. All the targets occur along the mineralization trend which host the Cachimbo Discovery and the Romero and Romero South deposits.
The company continues to drill and expand the mineralization at the Cachimbo Discovery and is also performing detailed target definition mapping and deep IP sections on the newly identified target areas. The Company is currently completing deep-looking IP sections on the sixth and most eastern target. In tandem with the IP survey, the Company's field geology crews are performing detailed mapping and soil sampling and refining targets for drilling in due course. A map of the new targets can be found at the following link:
"As we continue to expand the limits of the Cachimbo discovery through drilling, it is very encouraging to have new targets emerging along the trend, opening up another ten kilometres of prospective ground," exclaimed GoldQuest Chairman, Bill Fisher.
Drilling at Cachimbo is focused on expanding the extent and volume of mineralization and to explore for a potential high-grade gold-copper core, similar to the Romero deposit. The mineralization at Cachimbo remains open in all directions. Twenty-four holes have been completed in the Cachimbo area and assays from 4 holes are pending.
The information in this press release has been reviewed and approved by Mr. Jeremy Niemi, P. Geo., Vice President, Exploration 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 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.
Statements contained in this news release that are not historical facts are forward?looking information that involves known and unknown risks and uncertainties. Forward?looking statements in this news release include, but are not limited to, statements with respect to the 2015 drill program, the results of the drill program and the interpretation of the results of the drill program, further drilling, the timing of drilling and assay results, mineral resource estimates, the merits of the Company's mineral properties, future drill programs and studies, and the Company's plans and exploration programs for its mineral properties, including the timing of such plans and programs. In certain cases, forward?looking statements can be identified by the use of words such as "plans", "has proven", "expects" or "does not expect", "is expected", "potential", "likelihood", "appears", "budget", "scheduled", "estimates", "forecasts", "at least", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved".
Forward?looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward?looking statements. Such risks and other factors include, among others, risks related to uncertainties inherent in drill results and the estimation of mineral resources; commodity prices; changes in general economic conditions; market sentiment; currency exchange rates; the Company's ability to continue as a going concern; the Company's ability to raise funds through equity financings; risks inherent in mineral exploration; risks related to operations in foreign countries; future prices of metals; failure of equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals; government regulation of mining operations; environmental risks; title disputes or claims; limitations on insurance coverage and the timing and possible outcome of litigation. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in forward?looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward?looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, do not place undue reliance on forward?looking statements. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward?looking statements except as required under applicable securities laws. Forward?looking statements are based on assumptions that the Company believes to be reasonable, including expectations regarding mineral exploration and development costs; expected trends in mineral prices and currency exchange rates; the accuracy of the Company's current mineral resource estimates; that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained and that there will be no significant disruptions affecting the Company or its properties.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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