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Target Minerals: Gold & Copper
Introduction
Cerro Dorado is a new discovery made during the Gold Fields funded generative exploration programme. Geological mapping, soil and channel sampling produced highly anomalous results in gold and copper. Soil sampling defined an approximate 1,500 by 1,100 metre area highly anomalous in gold. This was followed up by a series of semi-continuous channel samples across a mineralised diorite intrusion that returned significant mineralised intervals including 20 m @ 6.17 g/t Au and 41 m @ 1.40 g/t Au. These channel samples were followed up with a short drill programme that intersected 22.86m @ 2.91 g/t Au, including 12m @ 5.29 g/t Au and 46 m @ 1.34 g/t Au including 20m @ 2.71 g/t Au.
Location & Access
The project is located in the Monsenor Noël province one and a half hours drive from the country capital Santo Domingo. Access is excellent with a paved highway crossing the project. The Cerro Dorado project is located 6.5 km from the Oro Verde deposit where the company has recently estimated an indicated resource of 2.72 Mt grading 1.95 g/t Au for 170,857 oz of contained gold.
Ownership
The Cerro Dorado project is spit over two separate concessions. One is Joboban 100% owned by GoldQuest. The second, Centenario, is currently under option from Energold Drilling where the Company can earn an initial 60% interest by spending US$1M over a three year period. GoldQuest can then earn upto 80% of the project by advancing the project to a feasibility study.
The Cerro Dorado project covers both concessions and Gold Fields are currently earning a 60% interest in Cerro Dorado and other projects in the Dominican Republic by spending US$5M over a three year period.
Geology
Cerro Dorado was discovered during the Gold Fields-funded regional exploration program. Several strong gold stream sediment anomalies were followed up and a sample from a large boulder of replacement silica-pyrite taken during the sediment program returned 491 g/t Au (15.2 oz/t) and 7.69% Cu. A second rock float sample of quartz vein returned 65 g/t Au. The area was followed up with geological mapping, soil sampling, channel sampling and two short rounds of exploration drilling.
While the source of the high-grade float has not been identified, follow up work defined a large gold-in-soil anomaly with an area of approximately 1,500 m by 1,100 m. The highest values in soils are 2.01 g/t Au and 1.3 g/t Au, with an average gold value of 0.29 g/t Au from 38 samples above 0.1 g/t Au (out of a total of 479 soil samples).
GoldQuest geologists completed a north-south trending line of channel samples across an altered quartz diorite intrusion with a quartz veinlet stockwork exposed in a stream. Mineralization is interpreted to be possible porphyry gold style.
Composite sample grades from the channel sampling are as follows:
Mineralized Interval
(Meters) |
Average gold grade
Grammes per tonne |
| 20 |
6.17 |
| 12 |
7.13 |
| 9 |
0.48 |
| 6 |
1.15 |
| 41 |
1.40 |
| 9 |
1.23 |
| 8 |
0.82 |
| 11 |
1.28 |
The channel samples were taken from Joboban the 100% owned GoldQuest concession directly south of the Centenario concession currently under option from Energold Drilling Ltd.
Drilling
A diamond drill programme was completed in the area of the anomalous channel samples testing the western contact of the mineralised diorite exposed in a creek that had been channel sampled. The zone of anomalous channel samples that returned 20 m @ 6.17 g/t Au was tested with three holes (CD01, 02 & 03) with two further holes (CD04 & 05) drilled approximately 85 metres to the south of holes CD01 and 02 in an area that returned 41 m @ 1.40 g/t Au. All holes were drilled on a 100% owned GoldQuest concession.
Holes CD 01, 02, and 04 all intersected strongly altered and oxidised diorite with a highly variable quartz-magnetite vein stockwork before intersecting weakly mineralised chlorite schists at depth. The drilling defined the intrusive contact as shallow implying possible tilting of the body. Drill holes CD 03 and CD 05 intersected late mineral porphyry with no significant results.
Drill results are summarised in the table below
| Hole No. |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
CD01
(Including) |
0.00
2.00 |
22.86
14.00 |
22.86
12.00 |
2.94
5.29 |
| CD02 |
0.00 |
20.00 |
20.00 |
2.70 |
CD04
(Including) |
4.00
4.00 |
50.00
24.00 |
46.00
20.00 |
1.34
2.71 |
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