GoldQuest Reports Drill Results From New Gold Zone at Las Animas

GoldQuest Mining Corp. report drill results from ten holes completed on its 100% owned Las Animas project located in the central Dominican Republic. The Las Animas project is excluded from the Gold Fields Option Agreement.

The drill results of the last ten diamond drill holes totalling 1,879 meters of the Phase 3 drill programme at Las Animas are reported. Nine of these holes (1,208 m) were drilled in the Las Guazumitas zone located approximately 950 meters southeast of the main Las Animas zone. Results from a tenth hole completed on the main Las Animas zone are also reported.

Drilling at Las Guazumitas tested a large gold in soil anomaly defined over an approximate 1,200 by 200 meter area. The soil gold anomaly trends in a north-south direction obliquely across the topography and is still open to the south. The anomaly is terminated at the north end by a NE-trending creek which follows a late fault zone. Surface trenching within the soil anomaly returned 9.10 meters grading 4.33 g/t Au and grab samples of rock float in the area returned values up to 21.40 g/t Au. The soil anomaly correlates with a mapped body of sericite schist approximately 1,200 meters long, which is elongated north-south and 150 to 200 meters wide. North of the sericite schist and gold anomaly there are sediments with a NE-strike which are the eastward continuation of the sediments that form the hanging wall to massive sulphide mineralization at the main Las Animas zone. The sediments appear to thin and pinch out to the east of Las Guazumitas.

Gold mineralization is related to sericite alteration and bands of disseminated to semi-massive pyrite in the schistosity. Gold is associated with silver, lead, zinc, barium and anomalous arsenic, antimony, copper, and molybdenum. Mineralization is interpreted to be related to either a blind massive sulphide body or a deep epithermal intermediate sulphidation system hosted by felsic volcanic rocks possibly related to an underlying or adjacent intrusive or porphyry source that has either not been identified or is not exposed at surface.

Hole LA-38 was a deep hole drilled directly south of LA-26 on the main Las Animas Zone. It was drilled to test for the continuation of the massive sulphide body directly below hole LA-26 which returned a drill intercept of 67.77 meters grading 3.38% Cu, 3.98% Zn, 1.49 g/t Au and 26.52 g/t Ag. LA-38 intercepted 631.20 meters of sericite altered rhyolites before intersecting 0.71 meters of pyritic semi-massive sulphide with 0.17 g/t Au and 0.22% Zn, interpreted to be a band of massive sulphide within the footwall felsic volcanics. This interpretation is significant since it extends the alteration zone 153 meters vertically below LA-26, and implies potential mineralization over 500 meters below surface. The hole continued in weakly altered rhyolite to a depth of 671 m.

Hole LA-41 returned anomalous Au from surface with 16.25 meters grading 0.34 g/t Au in sericite schist with up to 50 ppm Mo. Gold values correlate with amount of hematite and jarosite after sulphides. The hole also returned 9.35 m from 43.00 m grading 0.45 g/t Au in sericite schist with pyrite, with 8.1 g/t Ag, 0.15% Cu, and 0.28% Zn.

Hole LA-42 intercepted 10.60 m grading 0.53 g/t Au with 24.90 g/t Ag and 0.13% Pb in oxidized sericite schist. The hole was drilled below the trenching that returned 9.10 meters grading 4.33 g/t Au.

Hole LA-43 intercepted rhyolite and rhyolite breccia with propylitic alteration grading 0.13% Zn over 73.06 m. The hole was drilled to test the extension of mineralization intercepted in hole LA-42.

Hole LA-44 intercepted sericite schist and rhyolite which returned an interval of 27.95 m grading 1.32 g/t Au with 11.80 g/t Ag from the top of hole. The hole also returned 14.40 m grading 0.19 g/t Au and 18.00 m grading 0.16 g/t Au, 4.60 g/t Ag, and 0.24% Zn. The hole was drilled below a deep surface pit that returned 2.60 g/t Au.

Hole LA-45 intercepted rhyolite and sericite schist. The hole intercepted 18.00 m grading 1.32 g/t Au with 11.30 g/t Ag, 0.15% Cu, 0.16% Pb, and 1.00% Zn in sericite schist with sulphides. At depth the hole intercepted 16.00 m at 0.32 g/t Au and 39.60 g/t Ag with 0.05% Cu, 0.30% Zn. The hole was drilled below a deep surface pit that returned 1.00 g/t Au.

Hole LA-46: The upper part of hole is anomalous in Zn over 67.95 m grading 0.14% Zn in dacite and mudstone with volcanic sandstone and volcanic breccia. At the base of this interval there is 5.06 m grading 0.14 g/t Au at a contact between volcanic sediments and rhyolite.

Hole LA-47 was completely in sericite schist drilled partially sub parallel to schistosity. The hole has drill intervals of anomalous gold associated with pyrite including 72.00 m grading 0.23 g/t Au including 3.26 m at 1.35 g/t Au. Results from drill holes LA-39 and 40 did not return any significant results