Goldquest: high grade - Gold, Silber und Kupfer (Seite 18)
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19.09.23 · globenewswire  |
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Feedback
In Stuttgart wird wieder weiter gehandelt, wahrscheinlich ein PP.
Trading Halt
habe die Homepage gefunden
http://www.goldquestcorp.com/index.php/investor-center/finan…
http://www.goldquestcorp.com/index.php/investor-center/finan…
wo ist die Homepage von Goldquest?
Interessantes Interview:
AN INTERVIEW WITH WILLIAM FISHER,
DIRECTOR, GOLDQUEST MINING
(As of June 1, 2012)
We are here with Bill Fisher, who help build Globestar Mining
up to a certain size and then sold the company and now he is
Director of a company that has come up with some very interesting
discoveries with GoldQuest Mining.
David Pescod: Bill, let’s start with, what the heck is going on
in the world and how do you see it working out and more importantly,
the price for gold?
Bill Fisher: It is hard to say which way gold is going to go. I
find it quite mystifying how it moved with currencies against
currencies and with risky moments against risky moments.
But certainly I think when there are choppy waters, people
tend to head to the U.S. dollar and then settle back into gold a
few weeks later. Sooner or later they won’t go for the U.S.
dollar because the U.S. dollar offers liquidity, but as time
goes by I think it will erode.
DP: When we asked you in the warm-up here, where you
would see gold and oil say at Christmas, it could be anywhere
you think...
BF: I think it could be all over the map. It really is very hard
to say and of course Christmas is like putting a pin in the
map. You could say Christmas and be totally right and then
by February next, it could be totally in the opposite direction
because you have seen the big swings all over the place.
And there are the macro-events going on. If something like
Greece leaves the Euro (before of after Christmas – if it happens
at all) will change the whole characteristics of where
gold sits.
DP: You were mentioning that you do see the world economies
slowing a bit, so this could impact commodity prices
generally...
BF: I would think so. The nice thing about commodities in
terms of pricing is that we are in an environment where all
mines are finite. Even if things go along at the current level,
without growth things will get used up over time, so in some
ways it is self-correcting. So, I don’t necessarily think we are
going to see a collapse in commodity prices, but I don’t think
we are necessarily going to see big growth in the near future.
DP: Onto GoldQuest. That was quite a hole!
BF: Yes it was, wasn’t it? It was a blind hit. The outcrop
as is the first 20 or 30 metres is actually a landslip over
the top of the deposit, so you couldn’t see it from the
surface.
We did some IP geophysics, we put a big charge of electricity
into the ground and saw something and it was the
14th out of 15th holes when we were getting short of cash
and there she came – 230 metres of 2.4 grams which is a
very satisfactory discovery hole.
DP: Like you said, you missed on so many, how big
could this be...your target?
BF: It’s hard to say. In this same trend the Farmers
trend in the Western Dominican Republic, we already
have a 43-101 resource of about 400,000 ounces, which
actually comes to the surface which we discovered
about five years ago and have been put into a resource
and we are doing some economics on it.
This hole is along the trend of about 2 ½ km north of the
43-101 resource. It is open in all directions and also the
drill that we used, bottomed in mineralization so it is still
open at depth. So all in all at this time, it is not really
possible to speculate on what it could be. However, the
average of the 43-101 resource is 13 metres thick and
this hole was 230 metres thick. But of course at this
stage, it is only one hole and we don’t know how close
the true widths might be.
DP: Needless to say it is exciting though and is this a
good place to be working in? They certainly need the
jobs there, don’t they?
BF: Yes they do. I ran a company called Globestar Mining
and we purchased it in 2000 and it went into production
in 2008 and the fee of Goldquest is also a Dominican
National and with a country manager.
So, between the three we’ve had the chance to build a
mine in the Dominican Republic and they are very, very
approachable for this. Pueblo Verlo is the second largest
gold mine in the Americas, is under construction by
Barrick and Goldcorp and that will be in production at
the end of the year and will make a massive difference to
the whole country. So it’s a country that gets mining.
DP: Given the market environment, if you had to suggest a stock other than your own, what would it be?
BF: I knew you were going to ask this Dave, but I have been pretty much running for cover right now. In our belt,
there are already two juniors or so and one is Unigold (UGD). They have had a bit of a kick – they have gone up
about 30% in the last couple of weeks because based on proximity. So if we have success there, they are liable to
have some success.
DP: Thank you very much Bill.
***** We caught up with Sebastian de Kloet who does investor relations with Goldquest and needless to say for the
few gold bugs left, Goldquest is one of the stories that is attracting a lot of hope and attention. de Kloet suggests
that at this time, their best estimate/best guess for when the first batch of assays should be out, is roughly monthend.
They have a small rig operating down there so as it gets deeper, the going gets tougher and one is never sure
of how long the wait is at assay labs, again, Sebastian’s best bet is roughly month-end.
Quelle: Canaccord
AN INTERVIEW WITH WILLIAM FISHER,
DIRECTOR, GOLDQUEST MINING
(As of June 1, 2012)
We are here with Bill Fisher, who help build Globestar Mining
up to a certain size and then sold the company and now he is
Director of a company that has come up with some very interesting
discoveries with GoldQuest Mining.
David Pescod: Bill, let’s start with, what the heck is going on
in the world and how do you see it working out and more importantly,
the price for gold?
Bill Fisher: It is hard to say which way gold is going to go. I
find it quite mystifying how it moved with currencies against
currencies and with risky moments against risky moments.
But certainly I think when there are choppy waters, people
tend to head to the U.S. dollar and then settle back into gold a
few weeks later. Sooner or later they won’t go for the U.S.
dollar because the U.S. dollar offers liquidity, but as time
goes by I think it will erode.
DP: When we asked you in the warm-up here, where you
would see gold and oil say at Christmas, it could be anywhere
you think...
BF: I think it could be all over the map. It really is very hard
to say and of course Christmas is like putting a pin in the
map. You could say Christmas and be totally right and then
by February next, it could be totally in the opposite direction
because you have seen the big swings all over the place.
And there are the macro-events going on. If something like
Greece leaves the Euro (before of after Christmas – if it happens
at all) will change the whole characteristics of where
gold sits.
DP: You were mentioning that you do see the world economies
slowing a bit, so this could impact commodity prices
generally...
BF: I would think so. The nice thing about commodities in
terms of pricing is that we are in an environment where all
mines are finite. Even if things go along at the current level,
without growth things will get used up over time, so in some
ways it is self-correcting. So, I don’t necessarily think we are
going to see a collapse in commodity prices, but I don’t think
we are necessarily going to see big growth in the near future.
DP: Onto GoldQuest. That was quite a hole!
BF: Yes it was, wasn’t it? It was a blind hit. The outcrop
as is the first 20 or 30 metres is actually a landslip over
the top of the deposit, so you couldn’t see it from the
surface.
We did some IP geophysics, we put a big charge of electricity
into the ground and saw something and it was the
14th out of 15th holes when we were getting short of cash
and there she came – 230 metres of 2.4 grams which is a
very satisfactory discovery hole.
DP: Like you said, you missed on so many, how big
could this be...your target?
BF: It’s hard to say. In this same trend the Farmers
trend in the Western Dominican Republic, we already
have a 43-101 resource of about 400,000 ounces, which
actually comes to the surface which we discovered
about five years ago and have been put into a resource
and we are doing some economics on it.
This hole is along the trend of about 2 ½ km north of the
43-101 resource. It is open in all directions and also the
drill that we used, bottomed in mineralization so it is still
open at depth. So all in all at this time, it is not really
possible to speculate on what it could be. However, the
average of the 43-101 resource is 13 metres thick and
this hole was 230 metres thick. But of course at this
stage, it is only one hole and we don’t know how close
the true widths might be.
DP: Needless to say it is exciting though and is this a
good place to be working in? They certainly need the
jobs there, don’t they?
BF: Yes they do. I ran a company called Globestar Mining
and we purchased it in 2000 and it went into production
in 2008 and the fee of Goldquest is also a Dominican
National and with a country manager.
So, between the three we’ve had the chance to build a
mine in the Dominican Republic and they are very, very
approachable for this. Pueblo Verlo is the second largest
gold mine in the Americas, is under construction by
Barrick and Goldcorp and that will be in production at
the end of the year and will make a massive difference to
the whole country. So it’s a country that gets mining.
DP: Given the market environment, if you had to suggest a stock other than your own, what would it be?
BF: I knew you were going to ask this Dave, but I have been pretty much running for cover right now. In our belt,
there are already two juniors or so and one is Unigold (UGD). They have had a bit of a kick – they have gone up
about 30% in the last couple of weeks because based on proximity. So if we have success there, they are liable to
have some success.
DP: Thank you very much Bill.
***** We caught up with Sebastian de Kloet who does investor relations with Goldquest and needless to say for the
few gold bugs left, Goldquest is one of the stories that is attracting a lot of hope and attention. de Kloet suggests
that at this time, their best estimate/best guess for when the first batch of assays should be out, is roughly monthend.
They have a small rig operating down there so as it gets deeper, the going gets tougher and one is never sure
of how long the wait is at assay labs, again, Sebastian’s best bet is roughly month-end.
Quelle: Canaccord
Trading Spotlight
butch:
Was meinst Du in wie viele Explorer die letzte Zeit rein bin, da die Ergebnisse auch sehr gut waren,
Balmoral (Übernahme von Chinesen zu 1,20 abgelehnt)
Decade
Metal Creeks
usw.
alles wurde abverkauft, alles Miese.
Ich sah die Meldung über die super Ergebnisse 10 min. nach Erscheinen in marketwire und überlegte sofort zu kaufen, dachte dann aber an meine anderen Nieten und dachte-lass es.
Pech
Was ich nur jetzt nicht verstehe, nach der Meldung mit PP zu 0,45 ging die noch bis 0,70 ob die nicht nochmals zurückkommt?
Man wird sehen, viel Glück
Was meinst Du in wie viele Explorer die letzte Zeit rein bin, da die Ergebnisse auch sehr gut waren,
Balmoral (Übernahme von Chinesen zu 1,20 abgelehnt)
Decade
Metal Creeks
usw.
alles wurde abverkauft, alles Miese.
Ich sah die Meldung über die super Ergebnisse 10 min. nach Erscheinen in marketwire und überlegte sofort zu kaufen, dachte dann aber an meine anderen Nieten und dachte-lass es.
Pech
Was ich nur jetzt nicht verstehe, nach der Meldung mit PP zu 0,45 ging die noch bis 0,70 ob die nicht nochmals zurückkommt?
Man wird sehen, viel Glück
Keiner mehr dabei?? Leute, ihr verpasst mal wieder die Chance eures Lebens-WO halt.
GQC lautet das kürzel
hmmm canaccord schreibt ganz nett...
damit ist GoldQuest Mining, in der bisherigen Aufstellung, voraussichtlich Geschichte. Kann das Geschäft momentan nicht einschätzen:
Takara &GoldQuest Announce A Business Combination Transaction - Sep 19, 2011
www.marketwire.com/press-release/takara-and-goldquest-announ…
"Takara Resources Inc. ("Takara" or the "Company") (TSX VENTURE:TKK) and GoldQuest Mining Corp. ("GoldQuest") (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) jointly announce today that they have agreed to complete a business combination transaction (the "Transaction") resulting in the amalgamation of assets.
Bill Fisher, Chairman of GoldQuest, states: "The combined land positions create an outstanding mineral exploration portfolio including opportunities for early stage gold production in the Caribbean basin."
Jennifer Boyle, President and CEO of Takara, states: "By combining Takara's assets with a company that has a near complete preliminary economic assessment and an operating team with a proven record, the new entity will be in a strengthened position to capitalize on the potential to add value through aggressive exploration and development."
Under the terms of the Transaction, which the parties intend to structure as a Plan of Arrangement, Takara shall acquire all of the issued and outstanding securities of GoldQuest. Takara proposes that GoldQuest shareholders would receive 1.6287 common shares of Takara for each outstanding common share of GoldQuest, equating to existing Takara and GoldQuest shareholders owning approximately 36% and 64%, respectively, of the combined Company, on a basic issued and outstanding basis. Options and warrants to acquire common shares of GoldQuest shall be exchanged for like Takara securities having equivalent terms based on the consideration ratio.
It is the intention of the parties to complete a best efforts private placement financing of up to $6 million contemporaneously with the closing of the Transaction.
Highlights of the Transaction:
+ Opportunity to develop two advanced stage gold assets toward production with one operating team;
+ Geographic diversity of land holdings including NI 43-101 compliant resources and drill-ready targets; and
+ Complementary, entrepreneurial management with proven track record of generating shareholder value from exploration and development.
Board of Directors
Following the completion of the Transaction, it is intended that Takara's new board of directors will be Bill Fisher as Executive Chairman of the board, Jennifer Boyle, John McConnell, Pamela Strand and two other nominees of GoldQuest. It is further contemplated that Jennifer Boyle will remain as President and Chief Executive Officer, and that Mr. Julio Espaillat will fill the role of Chief Operating Officer. Other senior management announcements will occur following completion of the Transaction.
Mr. Fisher is the former Chairman of Aurelian Resources Corp. which was acquired by Kinross Gold Corp. for over US$1 billion in 2008. From 2000 to 2008 he was the Chief Executive Officer of GlobeStar Mining Corporation, which during his tenure, developed, financed and built the Dominican Republic's first copper mine at Cerro de Maimón. Mr. Fisher was previously Vice President, Exploration for the major base metal mining and smelting company, Boliden, where he was responsible for exploration programs in nine countries including Spain.
Ms. Jennifer Boyle is a co-founder of Takara Resources Inc. where she continues to sit as President and Chief Executive Officer. Ms. Boyle is a former securities lawyer that works with early-stage junior resource issuers in developing various growth strategies. She also sits as President and Chief Executive Officer of St. Eugene Mining Corporation Limited (TSX VENTURE:SEM) where she has been instrumental in the advancement of its projects, culminating in a recently announced approach by Claude Resources Inc. to acquire the securities of St. Eugene. In 1997 Ms. Boyle joined Canadian Royalties as a founding director and held the position of Executive Vice President until 2006. Ms. Boyle subsequently co-founded Golden Valley Mines Ltd (TSX VENTURE:GZZ) a mineral exploration company based in Val d'Or, QC. In addition, she continues to sit on the board of directors for Nevada Exploration Inc. (TSX VENTURE:NGE).
Mr. Espaillat has over 23 years of experience in the mining industry. Prior to its recent sale Mr. Espaillat served as the Dominican Republic Country Manager for GlobeStar Mining Corporation and oversaw the acquisition, evaluation and development of the Cerro de Maimón massive sulphide deposit, where production commenced in October 2008. Prior to GlobeStar, Mr. Espaillat spent 12 years at Falconbridge Limited in various roles in the Dominican Republic and Timmins, Ontario. Mr. Espaillat has a degree in Mining Engineering, a degree in Mining Geology (Economic Geology) from the University of Wales, Cardiff, UK, a Masters Degree in Financial Management, and a Post Graduate Degree in Environmental Economics.
Recommendations by the Board
The Transaction has been unanimously agreed to by the boards of directors of Takara and GoldQuest and both the Takara board of directors and GoldQuest board of directors will be recommending that each Company's respective shareholders vote in favour of the Transaction.
Voting Support Agreements & Termination Fee
The definitive agreement will include a commitment by each of Takara and GoldQuest not to solicit alternative transactions to the Transaction. Each company has agreed to pay a break fee to the other party of C$250,000 in the event of a superior proposal. In addition, each company has granted the other party a right to match a competing offer, and both sets of directors and officers have agreed to a voting support agreement of their common shares in support of the Transaction (including any shares issuable on exercise of stock options).
Key Conditions
Completion of the Transaction is subject to a number of conditions, including the negotiation of a definitive support agreement, completion of due diligence, Exchange acceptance, disinterested Shareholder approval as well as other customary conditions and regulatory approvals. The Transaction cannot close until the required Shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
The Transaction is conditional upon the Takara and GoldQuest shareholders each approving the Transaction by 66 2/3% of voting shareholders, respectively. Special shareholder meetings for each company to vote on the Transaction are expected to be held in November 2011 with closing of the Transaction expected shortly thereafter. Although not a condition of the Transaction, it is contemplated that the share capitalization of the resulting entity after closing may be consolidated on a basis that is conducive of the Transaction, but in any case, not more than on a 4:1 basis. Full details of the Transaction will be included in a joint management information circular (the "Information Circular") of Takara and GoldQuest currently expected to be mailed to their respective shareholders in October 2011.
Investors are cautioned that, except as disclosed in the Information Circular to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Takara and GoldQuest should be considered highly speculative.
About Takara
Takara Resources Inc. is a Canadian based gold company focused on exploring and developing its Guyana gold assets in the Guiana Shield that are held within a wholly-owned subsidiary, StrataGold Guyana Inc., namely: (i) the Tassawini Gold Project (100% interest); and (ii) the Arakaka Project (100% interest). The Tassawini Gold Project hosts a National Instrument ("NI") 43-101 compliant mineral resource estimate (disclosed in a press release dated March 18, 2010) containing 437,000 ounces gold (Indicated resource 10,766,000 tonnes having an average grade of 1.3 g/t) and 62,000 ounces gold (Inferred resource 1,926,000 tonnes having an average grade of 1.0 g/t.
About GoldQuest
GoldQuest Mining Corp. is a Canadian based exploration company with advanced-stage projects in the Dominican Republic and Spain, and trades on the TSX-V under the symbol GQC.V and in Frankfurt / Berlin with symbol M1W.
On August 24, 2011 GoldQuest announced that it engaged MICON International to carry out Preliminary Economic Assessments (PEAs) on each of its two primary assets, being the La Escandalosa Sur and the Las Animas projects, both located in Dominican Republic.
The NI 43-101 resources estimate for the La Escandalosa Sur project was published on November 16, 2010 with an initial inferred resource of 4,862,835 tonnes grading 2.596 g/t gold at a nominal cut-off of 0.3 g/t of gold containing 405,924 ounces of gold and 366,456 oz of Ag grading 2.34 g/t.
The NI 43-101 resource estimate for the Las Animas project was published on May 7, 2009, with Indicated Mineral resources of 1.0 Mt containing 95,185 oz Au, 60 million pounds Cu, 74 million pounds Zn and 1.90 M oz Ag; plus inferred mineral resources of 0.62 Mt containing 33,357 oz Au, 46 million pounds Cu, 55 million pounds of Zn and 0.6 million oz Ag. "
Takara &GoldQuest Announce A Business Combination Transaction - Sep 19, 2011
www.marketwire.com/press-release/takara-and-goldquest-announ…
"Takara Resources Inc. ("Takara" or the "Company") (TSX VENTURE:TKK) and GoldQuest Mining Corp. ("GoldQuest") (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) jointly announce today that they have agreed to complete a business combination transaction (the "Transaction") resulting in the amalgamation of assets.
Bill Fisher, Chairman of GoldQuest, states: "The combined land positions create an outstanding mineral exploration portfolio including opportunities for early stage gold production in the Caribbean basin."
Jennifer Boyle, President and CEO of Takara, states: "By combining Takara's assets with a company that has a near complete preliminary economic assessment and an operating team with a proven record, the new entity will be in a strengthened position to capitalize on the potential to add value through aggressive exploration and development."
Under the terms of the Transaction, which the parties intend to structure as a Plan of Arrangement, Takara shall acquire all of the issued and outstanding securities of GoldQuest. Takara proposes that GoldQuest shareholders would receive 1.6287 common shares of Takara for each outstanding common share of GoldQuest, equating to existing Takara and GoldQuest shareholders owning approximately 36% and 64%, respectively, of the combined Company, on a basic issued and outstanding basis. Options and warrants to acquire common shares of GoldQuest shall be exchanged for like Takara securities having equivalent terms based on the consideration ratio.
It is the intention of the parties to complete a best efforts private placement financing of up to $6 million contemporaneously with the closing of the Transaction.
Highlights of the Transaction:
+ Opportunity to develop two advanced stage gold assets toward production with one operating team;
+ Geographic diversity of land holdings including NI 43-101 compliant resources and drill-ready targets; and
+ Complementary, entrepreneurial management with proven track record of generating shareholder value from exploration and development.
Board of Directors
Following the completion of the Transaction, it is intended that Takara's new board of directors will be Bill Fisher as Executive Chairman of the board, Jennifer Boyle, John McConnell, Pamela Strand and two other nominees of GoldQuest. It is further contemplated that Jennifer Boyle will remain as President and Chief Executive Officer, and that Mr. Julio Espaillat will fill the role of Chief Operating Officer. Other senior management announcements will occur following completion of the Transaction.
Mr. Fisher is the former Chairman of Aurelian Resources Corp. which was acquired by Kinross Gold Corp. for over US$1 billion in 2008. From 2000 to 2008 he was the Chief Executive Officer of GlobeStar Mining Corporation, which during his tenure, developed, financed and built the Dominican Republic's first copper mine at Cerro de Maimón. Mr. Fisher was previously Vice President, Exploration for the major base metal mining and smelting company, Boliden, where he was responsible for exploration programs in nine countries including Spain.
Ms. Jennifer Boyle is a co-founder of Takara Resources Inc. where she continues to sit as President and Chief Executive Officer. Ms. Boyle is a former securities lawyer that works with early-stage junior resource issuers in developing various growth strategies. She also sits as President and Chief Executive Officer of St. Eugene Mining Corporation Limited (TSX VENTURE:SEM) where she has been instrumental in the advancement of its projects, culminating in a recently announced approach by Claude Resources Inc. to acquire the securities of St. Eugene. In 1997 Ms. Boyle joined Canadian Royalties as a founding director and held the position of Executive Vice President until 2006. Ms. Boyle subsequently co-founded Golden Valley Mines Ltd (TSX VENTURE:GZZ) a mineral exploration company based in Val d'Or, QC. In addition, she continues to sit on the board of directors for Nevada Exploration Inc. (TSX VENTURE:NGE).
Mr. Espaillat has over 23 years of experience in the mining industry. Prior to its recent sale Mr. Espaillat served as the Dominican Republic Country Manager for GlobeStar Mining Corporation and oversaw the acquisition, evaluation and development of the Cerro de Maimón massive sulphide deposit, where production commenced in October 2008. Prior to GlobeStar, Mr. Espaillat spent 12 years at Falconbridge Limited in various roles in the Dominican Republic and Timmins, Ontario. Mr. Espaillat has a degree in Mining Engineering, a degree in Mining Geology (Economic Geology) from the University of Wales, Cardiff, UK, a Masters Degree in Financial Management, and a Post Graduate Degree in Environmental Economics.
Recommendations by the Board
The Transaction has been unanimously agreed to by the boards of directors of Takara and GoldQuest and both the Takara board of directors and GoldQuest board of directors will be recommending that each Company's respective shareholders vote in favour of the Transaction.
Voting Support Agreements & Termination Fee
The definitive agreement will include a commitment by each of Takara and GoldQuest not to solicit alternative transactions to the Transaction. Each company has agreed to pay a break fee to the other party of C$250,000 in the event of a superior proposal. In addition, each company has granted the other party a right to match a competing offer, and both sets of directors and officers have agreed to a voting support agreement of their common shares in support of the Transaction (including any shares issuable on exercise of stock options).
Key Conditions
Completion of the Transaction is subject to a number of conditions, including the negotiation of a definitive support agreement, completion of due diligence, Exchange acceptance, disinterested Shareholder approval as well as other customary conditions and regulatory approvals. The Transaction cannot close until the required Shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
The Transaction is conditional upon the Takara and GoldQuest shareholders each approving the Transaction by 66 2/3% of voting shareholders, respectively. Special shareholder meetings for each company to vote on the Transaction are expected to be held in November 2011 with closing of the Transaction expected shortly thereafter. Although not a condition of the Transaction, it is contemplated that the share capitalization of the resulting entity after closing may be consolidated on a basis that is conducive of the Transaction, but in any case, not more than on a 4:1 basis. Full details of the Transaction will be included in a joint management information circular (the "Information Circular") of Takara and GoldQuest currently expected to be mailed to their respective shareholders in October 2011.
Investors are cautioned that, except as disclosed in the Information Circular to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Takara and GoldQuest should be considered highly speculative.
About Takara
Takara Resources Inc. is a Canadian based gold company focused on exploring and developing its Guyana gold assets in the Guiana Shield that are held within a wholly-owned subsidiary, StrataGold Guyana Inc., namely: (i) the Tassawini Gold Project (100% interest); and (ii) the Arakaka Project (100% interest). The Tassawini Gold Project hosts a National Instrument ("NI") 43-101 compliant mineral resource estimate (disclosed in a press release dated March 18, 2010) containing 437,000 ounces gold (Indicated resource 10,766,000 tonnes having an average grade of 1.3 g/t) and 62,000 ounces gold (Inferred resource 1,926,000 tonnes having an average grade of 1.0 g/t.
About GoldQuest
GoldQuest Mining Corp. is a Canadian based exploration company with advanced-stage projects in the Dominican Republic and Spain, and trades on the TSX-V under the symbol GQC.V and in Frankfurt / Berlin with symbol M1W.
On August 24, 2011 GoldQuest announced that it engaged MICON International to carry out Preliminary Economic Assessments (PEAs) on each of its two primary assets, being the La Escandalosa Sur and the Las Animas projects, both located in Dominican Republic.
The NI 43-101 resources estimate for the La Escandalosa Sur project was published on November 16, 2010 with an initial inferred resource of 4,862,835 tonnes grading 2.596 g/t gold at a nominal cut-off of 0.3 g/t of gold containing 405,924 ounces of gold and 366,456 oz of Ag grading 2.34 g/t.
The NI 43-101 resource estimate for the Las Animas project was published on May 7, 2009, with Indicated Mineral resources of 1.0 Mt containing 95,185 oz Au, 60 million pounds Cu, 74 million pounds Zn and 1.90 M oz Ag; plus inferred mineral resources of 0.62 Mt containing 33,357 oz Au, 46 million pounds Cu, 55 million pounds of Zn and 0.6 million oz Ag. "
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