Chevron completes Goldquest drilling

Goldquest says Chevron is evaluating all the drill data it obtained before returning to the properties for a second phase of exploration next year.

Chevron can earn a 50% interest in the Goldquest holdings by spending $8 million over a 5-year period. The company has spent about $1 million so far, according to Goldquest.

At least two significant intersections were encountered during the recent phase of drilling. The best assay from the main zone of the Rowan property was 1.92 oz gold over 1.6 ft, while the upper zone of the Abino prospect yielded 0.18 oz gold per ton over 8.7 ft, and the lower zone returned 3.05 oz gold over 8.9 ft.

“We’ve had high-grade intersections from the Red Lake properties in the past,” said Goldquest Vice-President Dutch Van Tassell. “The trick is t o demonstrate continuity to the mineralization.”

Drilling at the Duchesne claims revealed strong alteration, but disappointing assay results, the company said. Stripping exposed a number of geological targets and a bulk sample from the Redcon carbonate zone returned low order gold values.

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