GoldQuest soars over 300% on Las Animas drilling

Vancouver – Shares of GoldQuest Mining (GQC-V, GDQMF-O) rocketed in June 6th trading following a wide copper-zinc-gold mineralized drill intercept from its Las Animas VMS (volcanogenic massive sulphide) project in the western Dominican Republic.

The latest four hole program testing the strike extension of a previously drilled massive sulphide horizon has extended mineralization to over 275 metres below surface and also indicates a thickening of the zone attributed to folding of the structure.

Hole LA-10 cut 142 metres of massive sulphides and stockwork (from 162 metres downhole depth) averaging 2.6% copper, 1.9% zinc, 2.5 grams gold per tonne and 36.6 grams silver per tonne. Within the wide intercept and at the sediment-volcanic contact, a 14.6-metre interval returned 3.1% copper, 3.3% zinc, 4.2 grams gold and 86 grams silver.

The massive sulphide intercept, comprised of chalcopyrite, sphalerite and pyrite, was vertically below earlier hole LA-06 that intersected a gossanous zone.

The company plans a perpendicular scissor-hole to LA-10 to test the geometry and true thickness of the steeply-dipping to vertical massive sulphide body that remains open to depth and to the west.

Las Animas had undergone historic mining focused on higher grade gold and silver occurrences. Recent programs of stream sediment sampling, mapping and geophysics conducted by GoldQuest identified several new zones of mineralization.

The companys initial half-dozen drill holes in late-2006 and early-2007 indicated significant base and precious metal mineralization including an oxide gold cap in sections, prompting its second phase program.

GoldQuest was formed in mid-2004 as a spin-off of AIM-listed Minmet‘s (MNT-L) Dominican Republic mineral project portfolio.

Las Animas is excluded from GoldQuests strategic alliance agreement with Gold Fields (GFI-N, GFI-J) whereby the South African mining major can earn 60% of specific GoldQuest projects by spending US$5 million over three years plus a further 15% on individual properties for further expenditures of US$5 million.

Following a trading halt for the June 6th drill results shares of GoldQuest closed up a whopping 322% to $1.50 apiece, posting a gain of $1.15 on volume of over 12 million shares.