The GoldQuest Mining Corporation has announced the discovery of two new zones of gold-bearing quartz veins and a third zone of copper-gold-silver-molybdenum mineralization in the north of the Dominican Republic. These were discovered during the Gold Fields-funded exploration program with Gold Fields retaining a back in right to earn a 60% interest. The El Toro, Santa Ana and El Tuerto concessions and applications are located 110 km northwest of Santo Domingo.
Company president David J. Hall said upon announcing the success in exploration of new gold and copper districts, that the Dominican Republic is becoming recognized as a serious exploration country. He explained, “The El Toro, Santa Ana and El Tuerto projects would rapidly progress to the drilling stage and along with the breakthrough discovery of porphyry gold mineralization at Cerro Dorado and Pueblo Viejo style mineralization at Tres Palmas, this highlights the value adding work by the GoldQuest team.”
GoldQuest through its subsidiaries owns and explores mineral properties in the Dominican Republic. GoldQuest is 34.6% owned by Minmet plc, a mining and exploration company listed on the Irish Stock Exchange. Gold Fields and Placer Dome Inc. are also significant shareholders in the Company.