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Project Photos Target Minerals: Gold & Copper Ownership The project comprises of four juxtaposing claims and claim applications totaling 134 km2 (13,455 hectares) all 100% owned by GoldQuest. Under the terms of the Gold Fields strategic alliance Gold Fields are currently earning 60% of the project by spending US$5m over three years. Location & Access The project is located in the San Juan province six hours drive from the country capital Santo Domingo along a predominantly paved highway. Geology The San Juan project was discovered by GoldQuest geologists during the Gold Fields-funded regional exploration programme in an area with no previous history of mining or exploration. The project occurs in the Cretaceous Tireo Formation which comprises of a mixed volcanic package dominated by volcanoclastics. To date GoldQuest geologists have taken in excess of 1,500 rock and float samples with maximum values being 67.8 g/t Au, 34.5% Cu, 652 g/t Ag, 792 ppm Mo, 2.5% Pb and 3.29% Zn. 130 rock samples have returned values greater than 1 g/t Au and 89 samples greater than 1% Cu. ESCANDALOSA Channel samples from the Escandalosa Zone are from oxidized volcanoclastic rocks with quartz and gossanous veinlets exposed on ridges above outcrops of silica-pyrite alteration exposed in creek valleys below. Significant trench results from Escandelosa include 48 meters grading 5.24 g/t Au, including 28 meters grading 8.71 g/t Au (Channel ESC-12E) and 66 meters grading 2.07 g/t Au including 38.0 meters at 3.32 g/t Au (Channel ESC-13A) (Press Release 27th March 2006). LTP-05, 06, 07, 08, 09 and 10 were drilled to test the high grade gold in surface trench results (e.g. 42m grading 5.24 g/t Au:) from the Escandalosa zone 1,800 meters south of the Hondo Valle. LTP-07 intersected the hanging wall andesite before entering a dense quartz vein stockwork with intense alteration and disseminated pyrite. Mineralization was intersected from 26 meters and grades 2.09 g/t Au over 63 meters including 38 meters grading 3.34 g/t Au. LTP-08 drilled 80 m southeast of LTP-07 intersected the same mineralized sequence and returned 12.0 meters grading 1.74 g/t Au including 6.0 m at 3.22 g/t Au, 0.25% Cu and 0.36% Zn. LTP-09 located 175 m SSW of LTP-07 returned 16.0 m at 2.10 g/t Au, 0.15% Cu and 0.44% Zn including 8.0 m at 3.81 g/t Au, 0.27% Cu and 0.74% Zn. LTP-10 located 270 m SE of LTP-07 intersected 22.0 m at 0.31 g/t Au. This is the southernmost hole and intercepted the zone that is interpreted to be peripheral to the principal mineralized zone. Subsequently in December 2006 and January 2007, a further 16 step-out diamond drill holes totalling 2,223 meters were completed (LTP-18 to 33). GoldQuest is encouraged by the results that clearly indicate a large mineralized system which has been detected over a strike length of 2,100 meters, a width of up to 280 meters and with intersections up to 122 meters thick vertically. Mineralization forms a tabular stratabound body with a low dip to the east. The Escandalosa holes LTP-18, 19, 20, 21, 22, 23, 24, and 26 intercepted the same mineralized horizon as that of LTP-07 that returned 63 meters grading 2.1 g/t Au although the values are considerably lower indicating these step-out holes may be peripheral to the stronger mineralization (see results in table below). Holes LTP-27 and 28 were drilled north of Escandalosa with hole LTP-28 intercepting the same mineralized horizon at a similar topographic level 500 meters to the north of Escandalosa hole LTP-07. Gold mineralization at Escandalosa is associated with silicification and quartz-carbonate veining and appears to be stratiform replacing a dacitic volcaniclastic bed beneath a cap of unaltered andesites.
Hondo Valle Sampling at (Hondo Valle) has defined an area of outcropping mineralization to approximately 330 by 250 meters. Mineralization is hosted in polymictic volcanoclastic breccias with silica-pyrite replacement which is oxidized on the ridges. There is a central zone of 160 by 130 meters with an average grade from 189 outcrop rock samples of 1.15 g/t Au. Continuous channel sampling from the area returned the following the following results: 42 metre grading 1.43 g/t Au, 36 metre grading 2.66 g/t Au, 22 metre grading 1.44 g/t Au and 26 metre grading 0.97 g/t Au. LTP-03 was drilled in the Hondo Valle Zone 100 meters northeast of LTP-01 and LTP-02 that returned 12 meters grading 1.21 g/t Au from surface and 20 meters grading 2.65 g/t Au also from surface respectively (Press release of May 2nd, 2006). LTP-03 intersected the same breccia body and returned 141.35 meters averaging 0.31 g/t Au with 0.34% Zn (maximum 1.94% Zn over 1.0 m) from 8.0 to 149.35 meters at the end of the hole. In both Hondo Valle and Escandelosa mineralization is exposed as sulfides in rivers and oxide mineralization on the ridges above and between these two areas. Mineralization is hosted by volcanic breccias of the Tireo Formation with silica-pyrite and argillic alteration, typical of high sulfidation gold deposits. Project Maps
Los Tomates Seven rock chip samples of silicified limestones exposed on a ridge in an area with limited outcrop returned an average grade of 8.24 g/t Au with maximum values of 17.6 g/t Au, 642 g/t Ag, 2.53% Pb and 0.36% Zn. Los Tomates is located approximately 1,000 metres south west of Hondo Valle. Hillguerra A zone of quartz vein stockwork was discovered 1,000 metres southwest of Escandelosa. From the initial 38 oxidised samples 22 returned values grater than 0.1% Cu with a maximum value of 8.9% Cu. Outcrop samples of silicified limestones nearby returned values of 26.4, 22.4 and 12.3 g/t Au the style of which is very similar to that outcropping in Los Tomates 2.3 kilometres to the north. |
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