Could this be something like what we can look forw
Post# of 1850
Posted On: 07/19/2012 1:14:42 PM
Could this be something like what we can look forward to?
Doesn't get any better than this! New Caribbean assays bring GoldQuest gains to 1,500% in just 8 weeks
Shares of GoldQuest Mining (TSX-V: GQC) gained 22% to $1.20 after assay results from the gold junior's wholly-owned Las Tres Palmas trend in the Dominican Republic hinted just how rich the discovery may eventually turn out to be.
Assay results from a second hole at its Romero project included 159 metres grading 4.5 g/t gold and 1% copper and 24 metres grading 7.5 g/t gold and 0.9% copper.
By the close the Vancouver-based explorer was trading up 22c at $1.20 on the Toronto venture board, after earlier peaking at $1.28, giving it a market cap of $124 million. 7.5 million shares of Goldquest changed hands on Wednesday compared to the usual 1.1 million.
After spending the better part of a year not straying far from the 10c level and being largely ignored by investors, GoldQuest started on a tear on 23 May.
It was worth a mere 7.5c when the first drill results from its Romero discovery at Las Tres Palmas was first relased. By June 1 it had increased ten-fold.
The Dominican Republic has attracted a lot of attention from miners recently and according to data published by the country’s geology society (Sodogeo) in June, the Caribbean nation is sitting on nearly $58 billion of unexplored reserves of minerals and metals.
Based on the entity’s calculations, the underground treasure trove comprises about 27 million ounces of gold, 168 million ounces of silver, 652 million pounds of copper, 6 billion pounds of zinc and 25 million pounds of nickel.
Commercial mining of one of the world's largest gold deposits – Pueblo Viejo located 100 km from the capital Santo Domingo – is imminent.
The $3.8 billion Barrick Gold project (40%-owned by Goldcorp) holds 25 million ounces of proven and probable reserves worth about $40 billion.
Given that the geological society pegs total reserves in the country at 27 million ounces there doesn't seem to be much gold on the islands beyond Pueblo Viejo.
Although its still early days for the Romero project, GoldQuest may have just proven Sodogeo was being way too pessimistic.
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Doesn't get any better than this! New Caribbean assays bring GoldQuest gains to 1,500% in just 8 weeks
Shares of GoldQuest Mining (TSX-V: GQC) gained 22% to $1.20 after assay results from the gold junior's wholly-owned Las Tres Palmas trend in the Dominican Republic hinted just how rich the discovery may eventually turn out to be.
Assay results from a second hole at its Romero project included 159 metres grading 4.5 g/t gold and 1% copper and 24 metres grading 7.5 g/t gold and 0.9% copper.
By the close the Vancouver-based explorer was trading up 22c at $1.20 on the Toronto venture board, after earlier peaking at $1.28, giving it a market cap of $124 million. 7.5 million shares of Goldquest changed hands on Wednesday compared to the usual 1.1 million.
After spending the better part of a year not straying far from the 10c level and being largely ignored by investors, GoldQuest started on a tear on 23 May.
It was worth a mere 7.5c when the first drill results from its Romero discovery at Las Tres Palmas was first relased. By June 1 it had increased ten-fold.
The Dominican Republic has attracted a lot of attention from miners recently and according to data published by the country’s geology society (Sodogeo) in June, the Caribbean nation is sitting on nearly $58 billion of unexplored reserves of minerals and metals.
Based on the entity’s calculations, the underground treasure trove comprises about 27 million ounces of gold, 168 million ounces of silver, 652 million pounds of copper, 6 billion pounds of zinc and 25 million pounds of nickel.
Commercial mining of one of the world's largest gold deposits – Pueblo Viejo located 100 km from the capital Santo Domingo – is imminent.
The $3.8 billion Barrick Gold project (40%-owned by Goldcorp) holds 25 million ounces of proven and probable reserves worth about $40 billion.
Given that the geological society pegs total reserves in the country at 27 million ounces there doesn't seem to be much gold on the islands beyond Pueblo Viejo.
Although its still early days for the Romero project, GoldQuest may have just proven Sodogeo was being way too pessimistic.
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