The ROMERO PROJECT PEA Highlights
JDS Energy & Mining Inc. is a Vancouver based mining consulting company, who has extensive experience in mining and development studies. JDS assembled a multi-disciplinary international team of experts to conduct the Revided PEA.
GoldQuest is translating the Revised PEA into Spanish in order to submit it to the Dominican Ministry of Energy and Mining in order to start the mining permit application process.
The Romero Project consists of the Romero and Romero South mineralizations, which are one kilometre apart, in the central part of the GoldQuest's Tireo Property. The May 2012 Romero discovery drilling returned a series of spectacular drilling results, including the Romero discovery hole, LTP 90, the second last of a 15 hole program targeting the trend identified during the 2011 ground IP program. Hole LTP-90 reported 231 metres grading 2.4 g/t gold including 160.3 metres grading 2.9 g/t gold and 0.62 % copper. Notable drilling also includes hole LTP-94 which returned 234 metres grading 7.9 g/t gold and 1.4% copper leading to a 43-101 report outlining 2.4 million ounces of gold equivalent followed by a PEA, which shows the viability of this development project. The combined resources were first reported in October 2013, when a NI 43-101 report was published, 17 months from the discovery of Romero. Over 75% of the contained metal is in the Indicated Category, which can be used in any future feasibility study work.
Mineral Resources: The Romero Project NI 43-101 Mineral Resources
* Mineral Resource for Romero and Romero South estimated by Micon International Limited. Technical Report Published December 13, 2013 (effective date October 29, 2013).
** Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no certainty that the mineral resources will be categorized as mineral reserves.
Technical Report: Romero NI 43-101 Technical Report (6 MB)
Target Minerals: Gold & Copper
GoldQuest owns a 100% interest in the Romero project
Location & Access
The Romero Project, which includes our Romero and Romero South deposits, is located within the La Escandalosa exploration concession of our Tireo Property which has an area of 3,997.0 hectares. The Tireo Property (also sometimes known as the San Juan concessions) is located in the Central Cordillera of the Dominican Republic near the San Juan provincial capital of San Juan de La Maguana.
How We Found It
With previous experience, and proven development success in the Dominican Republic, our systematic prospecting approach across the entire country led our team to this previously unexplored area. Some key points in our discovery of Romero and Romero South include:
Romero is located on the south side of the Central Cordillera of Hispaniola and is hosted by the Cretaceous-age Tireo Formation volcanic rocks and limestones, which formed in an island arc environment. The deposit geology is a relatively flat lying sequence of intercalated subaqueous, intermediate to felsic volcanic and volcaniclastic rocks and limestones on the east side of thick rhyolite flows or domes. Mineralization is relatively stratabound and flat lying and is mainly hosted by a dacite breccia tuff.