GoldQuest Reports New High-Grade Polymetallic Massive Sulphide Discovery at Cachimbo Target, Dominican Republic
GoldQuest Reports New High-Grade
Polymetallic Massive Sulphide Discovery at
Cachimbo Target, Dominican Republic
Vancouver, British Columbia--(Newsfile Corp. - March 23, 2026) -
GoldQuest Mining Corp. (TSXV:
GQC)
(OTCQX: GDQMF)
("GoldQuest" or the "Company") is pleased to announce results from the
ongoing exploration campaign at the Cachimbo target. Drill hole TIR-26-58 has intersected a significant
high-grade polymetallic zone, confirming a new mineralized parallel structure located to the northeast of
the known Cachimbo mineralized zone.
The intercept returned high-grade values for gold, silver, copper and zinc, with a notable high-grade core
of 3.59 metres grading 17.63 g/t AuEq. This discovery represents the first major drill success at
Cachimbo following the resumption of drilling after a nine-year hiatus and identifies a new target for
additional drill testing.
TIR-26-58
: 12.26 m @ 2.52 g/t Au, 50.7 g/t Ag, 0.94% Cu & 12.0% Zn from 104.5 m depth.
High-Grade Core:
Including 3.59 m @ 5.74 g/t Au, 128.88 g/t Ag, 2.18% Cu, and 27.6% Zn.
New Structure:
The intercept confirms a new mineralized parallel structure, significantly
expanding the potential footprint of the Cachimbo discovery.
Open at Depth:
Mineralization remains open in multiple directions, with further drilling planned to
test the continuity of this new zone.
Geophysics Program Underway:
A Pole-Dipole Induced Polarization (PD-IP) survey is being
executed to improve drill targeting.
Hole TIR-26-58 was positioned to test a structural offset identified through recent detailed structural re-
interpretation. The mineralization is hosted within a sequence of lithic and mafic tuffs, characterized by
massive to semi-massive sulfide assemblages.
The presence of high-grade copper (2.18% Cu) silver (128.88 g/t Ag) and zinc (27.61% Zn) within the
core of this intercept confirms that the new parallel structure is a high-tenor polymetallic system. This
second structure significantly expands the potential volume of the Cachimbo target, as it remains open
along strike and down-dip. Table 1 below shows a detail of the intercepts and grades.
Table 1: Results from hole TIR-26-58
HoleID
From
(m)
To
(m)
Interval
(m)
Au
g/t
Cu
%
Ag
g/t
Pb
%
Zn
%
Au Eq
g/t
TIR-26-58
64.65
76.91
12.26
2.52
0.94
50.72
0.26
12.0
7.62
Includes
73.32
76.91
3.59
5.74
2.18
128.88
0.65
27.61
17.63
*Interval grades are calculated using uncapped assays. Gold values did not exceed 21.9 g/t which is below the capping level for Romero of 72.2 g/t.
Intervals may not represent true widths. There is insufficient drilling to determine the exact orientation of the mineralized zones at this time. AuEq
was calculated by using metal prices of Au US$ 3,450/ounce, Cu US$ 5.1/pound, Ag US$ 37.4/ounce, Zn US$ 3,280/ton and Pb US$ 1,920/ton. No
metal recoveries utilized.
Exploration at Cachimbo is ongoing. While the initial results for TIR-26-58 are encouraging, assays for
the second half of the hole remain pending and are expected shortly.
Furthermore, drilling of holes TIR-26-57 and TIR-26-59, which targeted the down-dip extension of the
primary Cachimbo zone, have been completed. Results from hole TIR-26-57 did not return significant
intercepts, while results for hole TIR-26-59 are currently pending laboratory analysis. The rig has now
transitioned to TIR-26-60, targeting deep extension of Cachimbo.
Figure 1 below shows a plan view with the current progress. We have now completed a total of 3
drillholes for 1,145 metres of the 5,000 metre-program. Figure 2 shows a NE trending cross-section,
indicated as A-B in the previous map.
Figure 1: Drill Progress at Cachimbo
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1663/289415_72190ba6e4c6da5b_001full.jpg
Figure 2: Cross Section A-B. Results from previous drilling are available at GoldQuest's website.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1663/289415_72190ba6e4c6da5b_002full.jpg
In addition to the drilling, a new PD-IP survey is now being carried out. Two lines are already completed,
and results shows a good correlation between low and high chargeability contrast and mineralization,
especially at the newfound VMS structure. We look forward to integrating this newly generated data to
further refine our exploration of the Cachimbo target.
Luis Santana, CEO of GoldQuest Mining Corp., commented:
"The discovery of a high-grade
parallel structure at Cachimbo after nine years is a testament to our team's systematic approach to
exploration in the Tireo Bel. These initial results from TIR-26-58 underscore the polymetallic potential of
the district and suggest that Cachimbo is a much larger system than previously understood."
QA-QC
As part of the Company's Quality Assurance and Quality Control procedures (QA/QC) the Company
reviews results from Certified Standard Reference materials (theStandards), which are inserted at a rate
of five per 100 samples. Within the results disclosed herein there were no samples with results outside
of the recommended tolerances for the Standards. In GoldQuest's drill programs, composite intervals
were chosen using a combination of geological criteria and mineralization, averaging around two metres
core length. The drill core is cut in half with one half of the core sample shipped to Bureau Veritas Labs
by GoldQuest technicians. The remaining half of the core is kept at the Company core shack for future
assay verification, or any other further investigation. Assays within intervals below the 0.005 g/t detection
limit for Au were given a 0.0025 g/t value. All drill samples were prepared and screened by ACME Labs
(Vancouver); metallic fire assay and multi-element ICP-MS were assayed by Bureau Veritas
Laboratories (Vancouver). Gold values are determined by standard fire assay with an AA finish, or, if
over 10.0 g/t Au, were re-assayed and completed with a gravimetric finish. Copper and zinc values
exceeding 0.2% were re-assayed with a 4-acid digestion and AAS finish. When zinc values exceeded
10% a classic titration was carried out for zinc. QA/QC included the insertion and continual monitoring of
numerous standards, blanks and duplicates into the sample stream, at random intervals within each
batch. The comprehensive GoldQuest QA/QC procedures can be viewed on GoldQuest's website at:
https://www.goldquestcorp.com/index.php/corporate/corporate-governance
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 Mining Corp. is a Canadian exploration and development company with strong participation
from Dominican investors, focused on advancing its gold and copper assets in the Dominican Republic.
The Company has a Board of Directors and management team with prior experience developing and
operating a mine in the country.
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 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 2025-2026 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
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/289415