The latest results from GoldQuest Mining‘s (GQC-V) Las Animas project in the Dominican Republic failed to impress the market as the junior took a tumble.
In Toronto on July 22 the Vancouver-based company was down 24% or 12 to 37 on over 500,000 shares traded.
Highlights from the latest results include:
- Drill hole LA-35 — 10.08 metres grading 2.29 grams gold per tonne, 3.76 % copper, 3.62 % zinc and 51.84 grams silver per tonne.
- Drill hole LA-36 — 4.79 metres grading 2.50 grams gold per tonne, 2.77 % copper, 5.45 % zinc, and 49.63 grams silver per tonne.
The results, GoldQuest says, expand on the principal massive sulphide body at Las Animas adding continuity along strike and at depth.
The company also announced that trench sampling on the Las Guazumitas target returned 9.10 metres grading 4.33 grams gold per tonne from a zone of gossanous schists. Guazumitas sits 950 metres southeast of the main Las Animas zone and is currently being drilled.
The company is now looking to expand its presence in the region and has applied for two new claims in the district that would cover zones of sericite altered rhyolites similar to that at Las Animas.
However the full extent of mineralization at hole 35 remains unknown because of technical problems that GoldQuest blames on the drilling contractor. The hole was lost while still in the massive sulphide so true thickness is unknown.
As for hole 36, the company says it reached the desired depth and intercepted the anticipated geological sequence.
Holes 34 and 37 weren’t so lucky however. Again, GoldQuest says problems with the drilling contractors resulted in the holes being lost.
The company wasn’t immediately available for comment to expand on just what exactly those problems were.
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