GoldQuest Commences 2025 Exploration Program with 5,000 Meters of Drill Campaign
GoldQuest Commences 2025 Exploration
Program with 5,000 Meters of Drill Campaign
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2025) -
GoldQuest Mining Corp.
(TSXV: GQC)
("GoldQuest" or the "Company") is pleased announce its 2025 Exploration Program (the "
2025
Program
") is now underway. This comprehensive initiative includes extensive ground exploration and an
initial Phase 1 drill campaign of up to 5,000 metres.
Exploration activities have commenced at the
Los Ganchos and Cañada La Vaca
targets, within the
Company's prioritized exploration corridor (see Figure 1). The program includes detailed surface
mapping, rock and soil sampling, and trenching to refine high-potential drill targets.
"This campaign builds on our proven discovery track record in the Tireo Belt," stated Luis Santana,
CEO. "With this drilling program we are eager to unlock the next generation of gold-copper VMS
deposits while advancing Romero toward development."
Leandro Sastre, VP Exploration, added: "Returning to the Tireo Belt energizes the whole team. This
phase of detailed mapping, trenching and sampling will refine our targeting and set the stage for the
upcoming 5,000-metre drill program."
2025 Program highlights:
Five drill-ready VMS targets:
Los Ganchos, Cañada La Vaca, Los Mineros, Cachimbo SE,
Cachimbo NW.
50-km district-scale
trend anchored by existing Romero and Romero South resources.
Fully funded exploration budget
from GoldQuest's ~$15 million treasury.
Phase 1 designed to deliver
near-term, high-impact
results ahead of the Romero Bankable
Feasibility Study.
The 2025 Program will evaluate multiple new VMS targets and conduct follow-up drilling on previously
identified significant intersections at
Los Ganchos, Canada La Vaca, Los Mineros, Cachimbo SE
and
Cachimbo NW
. The Tireo Formation continues to demonstrate exceptional potential for additional
VMS discoveries, comparable to internationally recognized belts.
Figure 1:
Tireo Belt Area with Significant Drilling Intercepts
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1663/249458_3dd332da74433976_001full.jpg
During the last few years, GoldQuest's geological team in the Dominican Republic has continued low-
cost surface work and exploration of which the results are instrumental for our new drilling initiatives. Of
the following targets, only Romero and Romero South have published resources, with all other targets
representing additional VMS opportunities. The Romero project has an indicated resource of 20 million
tonnes at 3.48 g/t gold equivalent.
Name
Distance from
Romero (km)
Significant Drilling
Intersections
Press Release
Date
Romero
235m. @ 7.9 g/t Au & 1.4%
Cu
August 27, 2012
Romero South
2
53m. @ 3.02 g/t Au
July 6, 2010
Imperial
4.4
13.8m. @ 0.92 g/t Au
March 31, 2015
Cachimbo
20
20.96m. @ 7.86 g/t Au
October 17, 2017
Jengibre
25
22 m @ 1.97 g/t Au
August 5, 2009
Strong Financial Position
As of 31 December 2024, GoldQuest maintains a cash position of $15 million, and has allocated a
budget to fund its 2025 Exploration Program. Additional funds are earmarked for Environmental and
Bankable Feasibility Study
("BFS"
) work at Romero, which also includes additional drilling at Romero.
The Pre-Feasibility Study published in 2016 revealed an after tax NPV (5%) of US$203 million, and an
after-tax IRR of 28%, based on a gold price of US$1,300/oz and US$2.50/lb copper. The BFS will
incorporate updated metal price and cost assumptions.
Qualified Person
The scientific and technical information in this press release has been reviewed and approved by
Leandro Sastre, P. Geo., VP of Exploration of GoldQuest and a Qualified Person for the technical
information in this press release under NI 43-101-
Standards of Disclosure for Mineral Properties
.
About GoldQuest
GoldQuest is a Canadian based mineral exploration and development 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.
Additional information can be viewed at the Company's website
www.goldquestcorp.com
.
On Behalf of the Board of Directors of GoldQuest Mining Corp.,
"Luis Santana"
Director & CEO
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.
Forward-looking statements:
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 past drill programs, the results of
such drill programs and the interpretation of the results of the drill programs, further drilling, the timing of
drilling and assay results, mineral resources at Romero and Romero South, the merits of the Company's
mineral properties, future drill programs and studies, the Company's plans and exploration programs for
its mineral properties, including the timing of such plans and programs, the Company's belief that
Dominican Republic authorities will support the development of the Romero gold-copper project, and the
allocation of funds for the BFS and the 2025 Program. In certain cases, forward-looking statements can
be identified by the use of words such as "plans", "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.
For further information, please contact:
Luis Santana, Chief Executive Officer
1 (809) 224-0629
Daniel G. McIntyre, Investor Relations
1 (604) 488-9818
Toll Free at 1 (866) 218-6894
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/249458